Weekly Market Report – January 20, 2022

Jan 20, 2023 | 0 comments

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Grow Omaha is proud to deliver this market report to you each week. This would not be possible without the support of our sponsor, NAI NP Dodge!

Restaurant & Retail Updates

Bob & Willie’s Wonderbowl is opening another location soon at Regency Landing next to Blue Sky Patio & Pickleball. The entertainment-oriented concepts are sister businesses. Regency Landing is a redeveloped property is northeast of Interstate 680 & Pacific Street.

Ashland Brewing Co. plans to open in 2023 near Highways 6 and 66 in Ashland. The 10,600 sq. ft. brew pub will have four pickleball courts, a rooftop deck and outdoor seating around fire pits. The locally owned restaurant will be part of the 4.3-acre Whitetail development.

Coffee Society Café, a new local concept, plans to open this weekend at 10748 Virginia Plaza in La Vista.

The Monarch Grill by La Paz has replaced Poppin’ Smoke Grill inside the American Legion Post 32 in Papillion at 230 West Lincoln Street. La Paz is a Mexican restaurant from Lincoln. Before Poppin’ Smoke, the Legion post hosted Moran’s Grill.

The Winery has reopened under new ownership at 741 North 98th Street in Clocktower Village, the retail strip just east of Westroads Mall. The Winery had closed in 2018.

Baked After Dark at 2740 North 61st Street in Benson plans to close permanently on January 21st. The cookie shop cited the high cost of food ingredients as the reason for closing.

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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

The Big Story

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Updates on Several Development Projects

In this week’s Big Story, we highlight a few construction and development projects from Omaha-based Noddle Cos.:

Builder’s District

Omaha’s first mass-timber office building is now coming out of the ground at 1501 Mike Fahey Street. That’s immediately south of Kiewit’s global headquarters. The $57 million, 4-story, 120,000 sq. ft. structure will be part of an overall development that is expected to have more than 700,000 sq. ft. of office space eventually. The district will also have more than 700 living units (apartments and condos), a hotel and more retail space when it’s fully built out.

The Builder’s District sits in North Downtown and works as a “bridge,” connecting Creighton University to the west, the main part of downtown to the south and the entertainment and convention area to the east.

Starting this spring, construction will begin on a 1.5-acre park/recreation amenity west of the Kiewit headquarters. Plans call for a food-and-beverage component, dog park, recreation area, and an outdoor big screen television. The new mini-park should be open by the end of the year.

Urban Residential Projects

Noddle Cos. recently finished the Dewey Row, six townhomes at 38th & Dewey Avenue in the Blackstone District. Five of the townhomes have been sold and the sixth one is currently under contract.

Several blocks to the west, construction has started on 20 townhome-style ownership units at 54th & Leavenworth Street (pictured above). A few units have already been reserved. These 3-story townhomes range from 2,000 to 3,000 sq. ft. Owners can customize the units. Optional add-ons include in-unit elevators and rooftop decks. The first units will be delivered late this year.

Noddle Cos. has already developed urban-style housing in Aksarben Village. Now the company is looking to do more in that area. They just closed on a piece of land near 63rd & Shirley. The site will likely accommodate six townhomes.

This section is sponsored by RENZE. For over 128 years, we have been providing our clients with innovative solutions for interior corporate and retail branding, as well as unique exhibits and graphics for tradeshows and events. With leading-edge equipment and quality craftspeople working out of our 90,000 sq. ft. facility, we partner with you to help create your vision. See a wide variety of our work HERE!

Grow Omaha Snippets

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Several new restaurants and retailers are opening just south of Embassy Suites and east of Cabela’s in La Vista’s Southport area. Starbuck’s is opening a free-standing coffee shop right on the corner. A retail center right next to Starbuck’s will have a Pen Fed Credit Union office and an Integrated windows shop, as well as a yet-to-be-announced national sandwich restaurant chain and national cookie franchise.

Amazon has announced that its massive regional fulfillment center has opened at Highways 50 & 370. The center more than 1 million sq. ft. and currently employs about 300 people. The center was originally scheduled to open last summer but was delayed because of supply chain problems. The center joins two other massive tech companies – Facebook and Google – that have major facilities along the Highway 50 corridor.

Benson High School will soon receive a face-lift in order to bring crucial health care services to students, staff and the community, according to the Omaha World-Herald. The school is nearing the start of a $6.6 million construction project, which includes a two-story health care addition and renovated north entrance. Omaha Public Schools officials say this will be the first school-based clinic in the district to house several multiple health providers.

Children’s Hospital & Medical Center plans to build a 60,000 sq. ft. outpatient center northeast of 204th & Harrison Street. The 10-acre site is just south of the ACX Cinema 12. The $46 million medical facility will be two stories and will open in the spring of 2024.

Bank of America will open an office near 86th & West Dodge Road just east of a recently opened Little King restaurant. The building was previously a Bank of the West branch that had closed some time ago. Workers are removing the old drive through lane and then will completely remodel the rest of the building.

Methodist Hospital is roughly halfway through an $18.6 million renovation that will result in the opening of two new units equipped with more than 50 beds, according to the Omaha World-Herald. A progressive care unit, which opened on the fourth floor of Methodist’s north tower in December, is dedicated to patients needing cardiac, vascular and thoracic care. The medical observation unit, slated to open this summer, will serve patients who may need extra care and monitoring after a medical event or procedure.

Grow Omaha Snippets are brought to you by Omaha Car Care with four metro area locations – 131st & Dodge, 58th & Center, 85th & L and 144th & Harrison.

Omaha Car Care “We’ll be along for the ride.”

Business News

Local Business News Sponsored by FranNet of The Heartland:

Real Estate News from CoStar – Consumers looking to shape up made fitness chains among the top gainers for retail foot traffic during the past year.

Crunch Fitness, Planet Fitness and their multiple rivals collectively boosted their fourth-quarter customer visits nearly 17% from a year earlier when some pandemic restrictions were still in place and almost 12% from the pre-pandemic fourth quarter of 2019. That capped off a year that saw fitness chain traffic rise 29% from full-year 2021 and 14.5% from full-year 2019.

After six straight months of below growth neutral readings, the Creighton University Rural Mainstreet Index climbed above the growth neutral threshold, 50.0, for a second consecutive month, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The January index climbed to 53.8 from 50.1 in December. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

Benchmark farmland values continued to tick up in the last half of 2022, supported by high commodity prices and demand from buyers with strong liquidity. The pace of increase, however, has slowed. The steep hikes of 2020 and 2021 tapered to single digits in Iowa, Nebraska and South Dakota at the close of 2022. Omaha-based Farm Credit Services of America, a financial cooperative serving agriculture, appraises the same 63 farms and ranches every six months to track trends in the real estate market.

Union Pacific Corporation will release fourth quarter 2022 financial and operating results on Tuesday, January 24, 2023 at 6:45 a.m. CST. The company’s management team will host a conference call and live webcast at 7:45 a.m. CST.

Midwest Medical Transport Company has leased 10,750 sq. ft. of space at 13326 B Street. Trenton Magid and Spencer Morrissey of NAI NP Dodge represented the landlord in this Industrial lease.

This section is sponsored by FranNet of The Heartland, the local, trusted franchise experts. They are “in the business of helping you get into business!”

Grow Omaha University

Leadership & Sales Insights for Ambitious People

Compiled by Grow Omaha co-founJeff Bealsder and sales trainer 

Sponsored by MyStaff, Inc.

Leadership & Management

What Does it Mean to Be a Great Organization? According to the American Society for Quality, organizational excellence is defined as the ongoing efforts to establish an internal framework of standards and processes intended to engage and motivate employees to deliver products and services that fulfill customer requirements within business expectations. It is the achievement by an organization of consistent superior performance—for example, outputs that exceed meeting objectives, needs, or expectations.

According to the Malcolm Baldridge Excellence Framework, here are the attributes of an excellent organization:

  • Leadership
  • Strategic planning
  • Customer and market focus
  • Measurement, analysis and knowledge management
  • Human resources/workforce focus
  • Process management
  • Business results

Sales

Referrals are the most efficient form of sales prospecting ever created. According to HubSpot, 47 percent of top performer regularly ask for referrals versus only 26 percent of non-top performers.

In 2007, it took 3.68 communication attempts to reach a prospective client. Now it’s taking between eight and 10.

Wisdom

“The task of the leader is to get their people from where they are to where they have not been.” – Henry Kissinger

Grow Omaha University is sponsored by MyStaff Inc, a locally owned staffing firm whose purpose is helping Nebraska companies recruit for corporate office positions.

My Staff Inc – Our team helps you find yours!

Upcoming Events in the Metro

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Washed Ashore: Art to Save the Sea on January 20th – May 14th: Giant sculptures of sea life, made from marine debris collected on Oregon’s beaches, graphically illustrate the tragedy of plastic pollution in our ocean and waterways. The epic exhibit includes a titanic triggerfish, a pair of grand penguins, and an 11-foot-long shark named Chompers! These thought-provoking pieces are designed to inspire conversations about conservation and generate positive changes and behaviors towards the environment.

Creatives & Coffee on January 21st: Creating can be isolating, but it doesn’t have to be. Creatives & Coffees is a community built to express and connect with other like minded individuals. Whether you’re working on art, poetry, music, coding, business, or anything that pulls on the creativity within – you are welcome to join.

7th Annual Mac & Cheese Binge on January 21st: The Mac & Cheese Binge celebrates one of food’s greatest marriages: macaroni and cheese. Participating restaurants will be offering $4 mac & cheese samplers, with suggested drink pairings. Visit as many restaurants as possible (in any order you’d like) and cast your vote for the best mac in midtown!

Brunch BINGO with Deschutes on January 22nd: Crescent Moon is hosting Brunch & Bingo on January 22nd featuring Deschutes Brewery! Bingo is free to play with an opportunity to win prizes provided by Deschutes. Bring your friends out for a delicious brunch and a chance to win fun prizes!

Yoga in the Green House on January 22nd: Mulhall’s is bringing wellness into their space with yoga in the green house! This free class brings a natural feel and it’s for free! After class, stick around for drinks and treats from local vendors.

This Upcoming Events section is sponsored by Eagle Mortgage Company, is a locally owned and full-service mortgage company in Omaha.

Eagle Mortgage can help you realize your dream of owning a home.

People in the News

Sponsored by Baird Holm Attorneys at Law

a beautiful blue and white house with a green lawn
digital rendering of Flatiron District project buildings

Bruce Margolis has been appointed vice president and medical director at Mutual of Omaha. He joined Mutual in 2023. Before Mutual, he was the Associate Vice President and Chief Medical Director at Pacific Life. Margolis has been the Medical Director at Clinical Reference Labs, the Chief Medical Director at Genworth Financial and Vice President and Chief Medical Director at MetLife.

Margolis received a bachelor’s degree from Temple University, a doctorate from the Philadelphia College of Osteopathic Medicine and a master’s degree from Eastern University.

Tenaska has named Chris Leitner to lead the company as Chief Executive Officer. Jerry Crouse, who has served in that position since July 2010, is the company’s new board chairman.

The Omaha-based company is one of the largest electric power and natural gas marketing companies in North America, owns and operates natural gas, solar and wind power plants and provides development services for natural gas fueled generation, renewable energy, energy storage and carbon sequestration projects.

WoodmenLife has appointed Brett Kemp as director, mortgage loan & real estate investment. joined WoodmenLife in October 2011 as a senior mortgage analyst. In 2013, he was promoted to associate portfolio manager. In 2016, he was promoted to portfolio manager, and in 2022, he was promoted to senior portfolio manager.

The “People in the News” section is sponsored by Baird Holm LLP. Baird Holm’s dedicated team of real estate lawyers has extensive experience in all aspects of real estate law, including purchases, sales, zoning and land use, leasing, and dispute resolution. Click HERE for more information.

Wall Street: The Week in Review

with George Morgan

The author is founder of Morgan Investor Education of Omaha.

Sponsored by Baird Holm Attorneys at Law

Views and opinions expressed herein are solely those of the author.

The biggest mistake mom-and-pop investors make is believing the Wall Street jibber jabber that the market is 100% driven by economic fundamentals. There was a time when this was closer to reality than it is now.

A look back at what happened in 2022 will help you realize that there are more participants in the market than just investors who follow the Wall Street paradigm.

During last year‘s whip-a—s market decline, the amount of activity in options increased dramatically. The knee jerk reaction to this revelation is that the options market and the stock market are separate entities. NOT!! When people are involved in options, they can also end up buying and selling the stocks related to those options.

When I was a young buck of a broker, I had a conversation with a mutual fund manager who, with a significant amount of righteous indignation, said that he was an investor, not a speculator. The implication was that investors were virtuous and speculators were somewhat akin to hookers and whores. The mutual fund manager believed that the market’s performance was unaffected by the decisions of the speculators. Unfortunately, the empirical evidence and Mr. Market’s actions of 2022 contradict this.

As partial evidence of Mr. Market’s 2022 disconnect from Wall Street’s reality, I give you the following statistics: All the big cap tech stocks that comprise the core of the Nasdaq 100 index, which was up 27% in 2021, had results that were totally disconnected from their underlying company. For example, Apple, Amazon and Tesla all had reasonable earnings and profit margins. But, at year’s end, the stock price of Apple was down 32%, Amazon was down 42% and Tesla a whopping minus 64%.

Getting back to our original question: Does the effectiveness of the value approach require that other market participants take the same approach? Let me use the revolutionary war as an example. When the war began, the British said that the proper way to fight war is to put on a red coat, march in a straight line and you shoot each other. The colonist response was, we don’t have any redcoats and we don’t have a lot of guns, so we’re gonna behind hide behind rocks and shoot at you. Moral of the story: The British were noble and professional, but they lost.

But, be of strong heart, all is not forsaken. Over the long run – with a series of sizable side trips – Mr. Market has grown along with the US economy. Moral of the story: forget the needle, buy the haystack.

Have You Watched Grow O on Video Yet?

Jeff Beals, Trenton Magid and a guest in the KFAB 1110 Radio Booth

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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.

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