Weekly Market Report: January 2, 2025

Nicole Buntgen, Contributing Writer

Wheatfield’s is opening an express location at 18902 Evans Street near 192nd & West Maple Road. Interior build-out is underway. The grand opening is planned for April. This express location will have a drive-thru lane and an extensive self-serve, grab-and-go section. The store will sell quiche, soups, sandwiches and bakery items. The existing Wheatfield’s restaurant is at One Pacific Place near 103rd & Pacific Street.

The Brunch Box will consolidate its two downtown restaurants into one Capitol District location at 225 North 12th Street. The fast-casual brunch spot will close its Old Market location at 1308 Jackson Street when its sublease ends this spring. The last day of service in the Old Market will be March 30, 2025. The owner of the restaurant said the Old Market location was always intended to be a temporary start for the business.

Chick Bo-Bao plans to take over an empty bay at 1213 Howard Street in the Old Market. The Korean restaurant has an existing location at 7440 North 30th street. The menu includes fried chicken, salads, mochi donuts, Korean corn dogs and bubble tea.

An unnamed sushi bar is planned for North Downtown. A building at 906 North 16th Street, just west of the Tip Top Apartments, was recently renovated for two restaurant spaces. Elie’s Chinchorro, a Caribbean restaurant, moved into the building as the first tenant this past summer. Elie’s was previously located in the former Lo Sole Mio event space in the Hanscom Park neighborhood. Recently, a building permit was filed for interior finishes and installation of kitchen equipment for a sushi bar in Suite B.

HomeGrown, a Kansas-based breakfast, brunch and lunch eatery, will open in February at 3555 Farnam Street in the Blackstone Plaza building. The restaurant has 11 existing locations across the Midwest and will feature locally-sourced dishes from Archetype Coffee, La Quartier Bakery, Just Good Meat, Fat Head Honey and more.

Chicken N Pickle, a family-friendly entertainment complex, will open its first Nebraska or Iowa location in a 55-acre development in northwest Omaha’s Tranquility Commons near 120th & Fort Street. Based in Kansas City, the Omaha location will feature main floor and rooftop dining, indoor and outdoor bars, pickleball courts and various yard games. Chicken N Pickle currently operates 11 locations across Arizona, Texas, Nevada, Missouri, Oklahoma and Kansas.

Signage is now in place for the first Wienerschnitzel location in Nebraska or Iowa. The popular California-based hotdog chain is getting close to opening in MH Landing northeast of 72nd & Grover Street. Wienerschnitzel will share the building with Salty Dog, a sports bar which opened last month.

Koen Japanese BBQ & Sushi is set to open this spring at 3863 Farnam Street next to Insomnia Cookies in Omaha’s Blackstone District. The family-owned restaurant offers an interactive dining experience where guests can grill pre-marinated meats and vegetables at their tables. Koen’s existing location is in Lincoln, which opened in 2018.

Renovation of a Taco Bell at 3917 South 42nd Street is on the horizon, based on a building permit filed with the City of Omaha. The $400,000 renovation project will bring the store up to current corporate design standards.

Speaking of Taco Bell, a new location has opened south of ACX Cinema 12+ in the Coventry development west of 204th Street between Q and Harrison streets.

Scooter’s Coffee at 7772 Cass Street will soon look like new with a $225,000 remodel project. According to a filed building permit, this 1,500 sq. ft. location will be renovated inside and out. While Scooter’s has focused on drive-thru-only buildings in its recent expansion, this location has a legacy as a sit-down coffee shop. The building was previously home to Crane Coffee, a locally owned coffee shop. In 2019, Scooter’s Coffee bought out Crane Coffee and converted all its shops to the Scooter’s brand.

The Soap Market, a retail store that sells soap, body care products and candles, opened in November at 3152 Leavenworth. The locally owned business had been previously operating as an online store. The neighborhood has seen several new retailers open over the past couple years and several multi-family construction projects.

Parliament Pub has closed its downtown location at 1212 Harney Street in the Old Market. The last day of operation was New Year’s Eve. The English-inspired bar opened in 2008 and operates another location in west Omaha at 16939 Wright Plaza in the Shops of Legacy.

Copps Pizza has closed its locations at 2829 South 181st Street and 7204 Jones Street. The West Center location opened in 2022, while the original Jones Street location opened in 2019. The family-owned restaurant’s Papillion location at 7474 Towne Center Parkway in Shadow Lake Towne Center, which opened in 2020, remains open.

Oklahoma Joe’s west Omaha location at 1405 South 204th Street closed permanently on December 31st. The Aksarben Village location at 1912 South 67th Street remains open.

The “Restaurant & Retail Updates” section is sponsored by Anderson Convenience Market, featuring Quality AMOCO Fuels and serving Omaha since 1952, and proud to announce the return of Quality Amoco Fuels. Look for changes this Summer at Anderson Convenience Market – 8 Omaha area locations!

Learn more about Anderson Convenience market at www.Anderson1952.com

‘Jaipur’ is an Omaha Staple of Fine Indian Food and Craft Beer

Jaipur is named after the capital of northern India’s Rajasthan state. It’s also Omaha’s oldest craft brewery, opening in 1992. The Rockbrook Village restaurant serves notably delicious Indian food. This is evident by the lines of awards on the wall that greet you as you enter.

In late 2021, Jaipur opened a second location in the former Acadian Grille space at 5018 Underwood Avenue in Dundee. Both locations are popular.

The Dundee location’s decor has a traditional Indian feel fused with a modern flair that fits the neighborhood vibe. When you walk in, the staff wastes no time making you feel right at home.

The Rockbrook location has undergone renovations recently. The decor is deep and rich in color with beautiful Indian art and accents. It’s at once warm and cozy. The moment you enter, you know you’re in exceptional culinary hands and hospitality.

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Major Development Happenings in 2024

For the past several months, Grow Omaha team members have been saying that Omaha is entering a golden age. There’s good reason for this optimistic statement as the metro area is experiencing record amounts of construction, healthy business growth and accelerated population gains. It’s an exciting time to live, work or visit Omaha.

Today, we look back at the major development happenings in the city during calendar year 2024.

Eppley Terminal Expansion

Back in January, the Omaha Airport Authority released long-anticipated plans to expand and renovate Eppley Airfield’s outdated passenger terminal. The nearly $1 billion plan caused a lot of jaws to drop.

The project will nearly double the terminal’s square footage while adding two new gates and an international arrivals hall. Other highlights include a centralized security and ticketing area, one long concourse instead of satellite terminals, and substantially more restaurants and retailers beyond the security checkpoint.

Completion is scheduled for 2028, but much of the new concourse will be in operation well before the final completion date. Construction crews have already made impressive progress since the announcement.

UNMC Development

The University of Nebraska Medical Center campus remains one of the most vibrant epicenters of Omaha growth and development. In 2024, UNMC unveiled the Edge District, a 30-acre development west of Saddle Creek Road. That’s where much of the campus’ growth will occur over the next several years.

The Edge District includes the Catalyst, a high-tech research and innovation center that will open early this year in a 119-year-old steel factory. Construction began on the 6-story Campus Operations and Research Excellence building in 2024 on the southwest corner of Farnam Street & Saddle Creek Road. A 750-stall parking garage is now under construction on the western part of the Edge District.

UNMC released a rendering of its planned $2.2 billion hospital to be constructed on the southeast corner of Farnam Street and Saddle Creek Road. The 1.27 million sq. ft. hospital would have 556 beds. The 18-to-20-story building could be as high as 400 feet, making it the fourth tallest building in Omaha. The NU Board of Regents in 2024 approved $50 million to pay for design costs. Foundational construction work could begin as early as next May. Because of the size and scope of the hospital, opening likely wouldn’t occur until well after 2030.

Finally, UNMC started construction in 2024 on its first-ever student residence hall, a $66 million, 200,000 sq. ft., 6-story building that will accommodate 300 students when it opens in 2026.

Children’s Museum

The Omaha Children’s Museum announced it will move to a 4-story building to be constructed at 8th & Douglas Street along the north side of Heartland of America Park at the Riverfront.

The museum will continue to operate at its current location at 20th & Howard Street during construction of the new building, with the goal of transitioning to its new home in late 2027. The state-of-the-art building will be designed by the internationally renowned architecture firm Snøhetta, which also designed Joslyn’s recently completed addition.

NuStyle Development Announcements

2024 was a banner year for NuStyle Development, the real estate firm that has become famous for renovating countless buildings in Omaha’s urban core over the past 30 years.

In March, NuStyle announced it would renovate the twin towers of downtown’s Central Park Plaza. The $163 million project is already underway and moving at a rapid pace. The complex will be converted into 700 apartments plus retail space. Sullivan’s Steakhouse will remind in the south tower. The old Park Fair Mall — on the west side of the complex along 16th Street — will be torn down and replaced with a city-owned parking garage. Some of the apartments (150 units) will be constructed on top of that new garage.

This past summer, NuStyle announced it will build The Beam, an $87 million, 16-story tower that will rise immediately east of the aforementioned Children’s Museum on the Riverfront. The Beam will include a city-owned parking garage on the lower floors and 261 apartments with great views on the upper floors. It is expected to open in the spring of 2028.

Toward the end of the year, FNBO announced it plans to sell its 22-story, 1970s-era, old “main bank” building at 1620 Dodge Street to NuStyle Development. The bank no longer uses the building. NuStyle plans to covert it into 300 market-rate apartments with retail and commercial space on the bottom two floors. The project will cost between $75 and $85 million and could be completed in 2026. The Omaha Press Club, a long-time tenant on the building’s top floor, will likely remain.

New Crossroads Developer

The long-anticipated Crossroads project moved forward this year when the previous owners sold a major part of the project to Salt Lake City-based Woodbury Corporation. It now looks like vertical construction will start this spring. The previous developer already completed underground and surface infrastructure work.

The project will be built in multiple phases and is now estimated to cost $900 million. The first phase will include a 92,000 sq. ft. entertainment venue that will be operated by a major national chain. Woodbury is already in negotiations with that yet-to-be-named company. Phase one will also include the construction of residential, retail and office buildings as well as a public plaza and public parking facilities.

Mutual of Omaha Tower Progress

You can’t talk about 2024 development progress without addressing the building that will someday be the tallest skyscraper in a multi-state region. The $600 million, 800,000 sq. ft. Mutual of Omaha headquarters will be 44 stories and 677 feet tall when it’s completed in 2026. Construction on the central core tower has reached the 27th floor. That means the partially completed tower is already the third tallest building in town.

Millwork Commons

The 50-acre Millwork Commons district north of Charles Schwab Field is booming with development. Work is wrapping up on the Dizzy Mule project on a block bounded by 12th, 13th, Nicholas and Izard streets. It consists of historic buildings along Izard connected to two new 5-story buildings. In total, Dizzy Mule will have 172 apartment units and 18,000 sq. ft. of retail space.

Just to the east of the Dizzy Mule, construction has started on Nova, a 5-story, building along the east side of 12th Street between Nicholas and Izard Streets. It will have 78 market-rate apartments and 12,429 sq. ft. of commercial space divided into six bays.

We learned in 2024, that an historic, 3-story building on the northeast corner of the Dizzy Mule block will become The Millwork Hotel. The 135-room boutique hotel would cost $57 million and would also include 7,000 sq. ft. of retail space plus an atrium. A 4th floor would be added, including a rooftop bar.

In December, construction began on the Frame Apartments, a $44 million building immediately west of the Ashton Building. The 5-story, 146-unit building will have 55, 2-bedroom units and 94, 1-bedroom units. The ground floor will have a single 10,000 sq. ft. retail bay and 65 covered parking stalls. The building will also have two large decks on the second-floor roof.

Finally, we learned that the City of Omaha plans to build a multi-level, 600-stall parking garage that would serve this burgeoning district. The garage will be located just east of the Ashton building on a parcel bounded by 11th, 12th and Nicholas streets and Millwork Avenue. The estimated cost is $25 to $30 million.

Isaiah Ang, Contributing Writer

Construction has already gone vertical at Creighton University’s future softball stadium on the southeast corner of 20th & Cuming Street in North Downtown. It’s a fast-track project as completion is planned for this summer. A press box for the stadium will be completed by September.

Immediately east of the softball stadium, work is expected to begin soon on a baseball practice field that will be used by Creighton University as well as teams participating in the annual NCAA Men’s College World Series. It is anticipated to be ready before the 2026 College World Series. Just to the west of the softball stadium, construction is underway on Creighton’s new sophomore residence hall.

The steel skeleton has been assembled at Methodist Jennie Edmundson Hospital’s and Acadia Healthcare Company’s behavioral health hospital in Council Bluffs. Located at 3620 South 24th Street, the hospital will be named Methodist Jennie Edmundson Behavioral Health. Slated to open in 2026, the campus will have 96 inpatient beds – including 24 beds dedicated to serving the mental health needs of children and adolescents – and provide intensive outpatient services. Graham Construction & Engineering is the project’s general contractor, and Stengel Hill Architecture is the project’s architect.

J.D. Power, known for its consumer product reviews and rankings, ranked OPPD as #1 in Residential Customer Satisfaction in the Midwest Midsize electric utility segment. OPPD beat out 15 other utilities overall and topped three of six subcategories including billing and payment, price and communication.

Construction has started on The Frame, a $44 million multifamily apartment building on a vacant lot west of the Ashton Building at 13th & Nicholas Street. Plans call for a 5-story, 146-unit building consisting of 55, 2-bedroom units and 94, 1-bedroom units. The ground floor will have a single 10,000 sq. ft. retail bay and 65 covered parking stalls. The building will also have two large decks on the second-floor roof.

It is just one of several construction projects planned or underway in the Millwork Commons district, which is north of Charles Schwab Field. Those projects include the Dizzy Mule, The Millwork Hotel, NOVA apartment building and a city-owned parking garage.

Construction has started on Woodlands Retail, a two-building retail strip center totaling 19,322 sq. ft. northwest of 192nd & Q Street. Completion is planned for late 2025. Building “A” will total 13,136 sq. ft. Building “B” will be 5,949 sq. ft. No tenants have been announced.

Grow Omaha Snippets are brought to you by Baird Holm LLP, the Exclusive Legal Partner of Grow Omaha. Baird Holm’s dedicated team of real estate lawyers has extensive experience in all aspects of real estate law, including purchases, sales, construction, zoning and land use, leasing, and dispute resolution. Click HERE for more information.

Berkshire Hathaway bought more VeriSign shares as the final days of 2024 ticked away, according to Barron’s. Warren Buffett’s company paid $15.6 million from December 26 through Monday for 76,487 more shares of VeriSign, a provider of internet domain-name registry services. The purchases were made through Berkshire insurance unit Geico, which now owns 7,996,889 VeriSign shares. Berkshire is VeriSign’s largest shareholder with a stake of more than 10 percent.

Werner Enterprises, Inc. will release its fourth quarter and full-year 2024 earnings on Thursday, February 6th after the market close. The company will also hold a conference call to discuss the fourth quarter and full year 2024 results and 2025 outlook on the same day, beginning at 4:00 p.m. CST.

For the seventh time in 2024, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, sank below 50.0 growth neutral threshold. The overall index slumped to 48.7 from 49.6 in November. The index vacillated slightly above and below growth neutral every month in 2024.

NP Dodge Company is celebrating its 170th anniversary in 2025. The six-generation, family-owned company was founded in 1855 and is the longest-running real estate firm in the United States.

Christian Brothers Automotive is wrapping up construction on a future location at 20111 P Street. Hiring is now underway. The tentative opening date is March 10th. Houston-based Christian Brothers has existing Nebraska franchises in northwest Omaha, Gretna and Papillion.

The sleep tourism industry is expected to grow by 8 percent – more than $400 billion – between 2023 and 2028, according to The Hustle. As the term would indicate, sleep tourism is geared to serve people of means who just want to get a good night’s rest. Businesses involved in the industry include hotels, spas and many others.

Dean Snyder Construction (DSC), founded in 1958, is a family-and-employee-owned general contractor and design-build firm. We serve the commercial, food and beverage processing, industrial, pharmaceutical manufacturing, and healthcare markets. Our commitment to hard work, direct communication, owner involvement, and exceeding client expectations ensures long-term customer satisfaction. Contact us at www.deansnyder.com

LEADERSHIP & MANAGEMENT

You’ve heard the term “Machiavellian,” but have you ever considered what it really means? According to the Society for Personality and Social Psychology, Machiavellianism is a personality trait characterized by manipulation, deception and a cynical view of human nature. Named after Niccolò Machiavelli, who wrote The Prince in 1513, Machiavellians influence and control others for their own personal gain. Machiavellians in the workplace do things that undermine productivity and collaboration for their own selfish ends.

It may sound like a cliché, but a good attitude and enthusiasm are keys to success, especially if you’re a young professional in your twenties. So says Amazon CEO Andy Jassy in a recent Fortune article: “An embarrassing amount of how well you do, particularly in your twenties, has to do with attitude. I think people would be surprised how infrequently people have great attitudes,”

SALES

Developing a fictionalized version of your ideal customer, known as “buyer persona,” helps sales professionals quickly identify which leads are worth pursuing, according to HubSpot.

Top sellers spend an average of 6 hours every week researching their prospects, according to Crunchbase.

Some companies choose to create greater value and charge a higher price than their competitors, says sales author Antony Iannarino. Others choose to create lesser value, setting a lower price to those who can’t or won’t spend money and are willing to make concessions. The contest between two competitors is, in part, a battle between different models. The company with the higher price is responsible for teaching the client why they should invest more.

Advice for Sales Managers – Here are five ways to hold salespeople accountable: 1. Clearly define expectations about culture, behavior and performance; 2. Foster healthy competition among team members; 3. Hold regular one-on-one meetings with reps; 4. Observe your reps in the field or on the phone; 5. Get rid of habitually low-performing reps.

WISDOM

“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.” – President John Quincy Adams

Founded in 2006 right in the heart of Omaha’s Dundee community, Dundee Bank is all about local ownership, friendly customer service, and supporting the needs of our beloved community. With nearly 100% of your deposits going right back into our neighborhoods, Dundee Bank is committed to fueling growth, enabling loans, and fostering stability for you and your neighbors. So why not open an account at Dundee Bank and discover what it means to truly support local?

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Did you know that most people who visit Omaha come from Kansas City, Sioux Falls, S.D. and Des Moines, Iowa?

Did you know 50 companies have signed economic development agreements under ImagiNE Nebraska with combined investments totaling $1.55 billion and projected full-time job creation approaching 2,500?

Did you know Sokol Auditorium (now the Admiral Theatre) was built in 1926 at the corner of 13th & Martha Street to house many of Omaha’s Czech community’s social activities. Sokols were fraternal (and sororal) organizations founded in Bohemia to promote equality, harmony and fraternity.

This section is sponsored by Lockbox Storage, an affiliate of Omaha-based McGregor Interests Inc. We provide storage solutions for all of your storage needs. Our facilities have full-time managers and bright lighting to provide superior security for your belongings. In addition to space for rent, we also provide packing supplies, protection plans and locks along with complimentary handcarts and dollies. Visit LockBox Storage and let us help you with all your storage needs.

Basket Weaving: Come-along Tote on January 4th: Basket weaving is an ancient art form that uses botanical materials to create functional pieces you can enjoy for years to come. Jeannie Sisson of Woven Keepsakes will conduct this workshop, where “fun and friendships intertwine” and participants create their own woven basket with colored-accents, wooden handles and robust metal rivets! All materials are provided – make sure to preregister now!

Disney Trivia on January 8th: Step into the Magic Kingdom with Smash Park at Disney Trivia Night! From Mickey Mouse to Frozen, it’s all fair game, and we will put your knowledge to the test! Once you gather your team, all you need is a little faith, trust and pixie dust to join this Disney challenge! Register beforehand to reserve your team’s spot.

Grand Opening & Ribbon Cutting Ceremony for Mind Body Soul Spirit Makeup Artistry & Cosmetics on January 8th: The Midlands African Chamber invites you to an exciting celebration of resilience, innovation and community at the Grand Opening of Mind Body Soul Spirit Makeup Artistry & Cosmetics. This new and inspiring business, founded by the talented Janice Brantle, is dedicated to empowering individuals through holistic beauty and wellness. Janice’s entrepreneurial journey is a testament to perseverance and vision. This milestone marks the beginning of an incredible chapter for her and the Omaha community!

Free Coworking Day on January 9th: Join Modus Coworking for a FREE coworking day on the second Thursday of each month from 8 a.m. to 5 p.m. High-speed wifi and office amenities are readily available. Unlimited Amateur coffee and Artemis tea are always ready to go as well. Whether you’re traveling through Omaha or have been needing a new spot to make your workday more meaningful, come to Modus and get the experience you are missing!

This section is sponsored by Eagle Mortgage, a locally owned, full-service mortgage company helping you with Conventional, VA, FHA and USDA loans in both Nebraska and Iowa. Learn how Eagle Mortgage helps people afford the home of their dreams by clicking HERE!

Baird Holm LLP has elected Erin E. Busch and Robert L. Kardell as partners. Busch primarily represents health care clients, including hospitals, physicians, physician clinics, skilled nursing facilities, nursing facilities and specialty health care services providers. She also advises public entities regarding open meetings, public records and governance issues. Kardell’s practice focuses on cyber-breach incident response, legal and technology-based risk management solutions, technology and cyber-defense policy and protections, intrusion remediation and fraud prevention and investigation. He has more than 22 years of experience working for the Federal Bureau of Investigation.

Elevate Search Partners has added recruiting partner and career advisor Reanna Zeller to the team. Zeller has a background in public accounting. She helps CFOs and other financial leaders attract talent to their teams. Elevate specializes in recruiting and selection for the fields of accounting, finance, human resources, IT, and executive search.

The Greater Omaha Chamber is a catalyst and connector, advocating for businesses small and large. Learn, share and grow with more than 12,000 professionals from 3,000 member businesses across Greater Omaha. Click HERE to see our latest events.

I am a Cornhusker, true blue, tried and true. While less than one-tenth of one percent of true-blue cornhuskers have ever shucked an ear of corn, we all have one thing in common: We’re fanatical about Nebraska football.

Nebraska football has a 135-year history as a competitive program. We have had great times, and we have had not-so-great times. We play to win; we don’t play for participation trophies. In order to know who’s winning, you have to know the score.

Now to the financial connection. As an investor, you can sit on the sidelines and watch the game, or you can be an active participant and make an effort to maximize your results. As in football, you need to have a way to measure success. For Nebraska football, it’s a bowl game. For investors, its market returns.

In both football and investing there are many metrics that go into creating a winning team. A critical data point for two Cornhusker football icons, Bob Devaney and Tom Osborne, was turnovers. You can’t score if you don’t have the football. The investing equivalent of a takeaway would be the fees you pay for investment expertise and transactions.

Corn is a commodity. That’s where all producers’ output is identical. Four decades ago, financial data on publicly traded companies was costly and only available to professionals. Back in the day, money could buy expertise. There were money managers who were financial Heisman Trophy winners. But the internet and electronic trading have made investment advice a commodity. No need to pay big bucks for something you can get for free.

Which brings us to another Cornhusker icon: Warren Buffett, the man who introduced individual investors to index funds. Warren didn’t invent them, but he gave give them credibility as the investment of choice for ordinary people. Investor can now get market returns for free, another investment takeaway eliminated.

Forty years ago, the Wall Street legacy firms were the gatekeepers to the exchanges and charged a hefty fee for passage. Then along came another Cornhusker financial guru: Joe Ricketts, and the discount brokerage firm was born. Today’s independent investors trade for free. Another investor takeaway vanishes into the Nebraska night sky.

As we begin a new year, it is time to check your score board. The market’s 2024 score was 25 percent. If you held a S&P 500 index fund for the year, you are headed to a bowl game. If not, you need to work on eliminating takeaways.

Hubbell Realty Company is a full-service development company providing construction, development, homebuilding and management services since 1856. Click HERE for more information.

Quantum Fiber in Omaha, Nebraska, is super-fast, reliable internet. We did away with data caps, bundles, and pricing gimmicks because you don’t want them. Instead, you get game-changing customer service, transparent pricing, and a powerful app for freedom, simplicity, and control over your internet. Quantum Fiber is what internet service looks like when it’s built for the world of you.

The Grow Omaha radio show broadcasts live every Saturday morning at 9:00, but now you can watch videos of each episode instead of just listening.

Grow Omaha’s brand-new website features video footage shot inside the radio studio during each week’s show!

Videos include News of the Week, Lightning Round, guest interviews, and “Grow Omaha Uncut,” a behind-the-scenes look at what happens during commercial breaks.

Support the Grow “O” Mission

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