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Weekly Market Report – January 25, 2024
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Restaurant & Retail Updates
Charleston’s west Omaha location is moving from its longtime home at 137th & West Dodge Road to a newly constructed building at 105 North 145th Street in Heartwood Preserve. The old Charleston’s is now closed. The new one opens Monday. The 76th & Dodge location remains unchanged.
PHÔBA plans to open this Saturday at 17606 Welch Plaza near Sunrize Donuts, Mary’s Mountain Cookies and Javi’s Tacos. The locally owned restaurant will serve Vietnamese cuisine and Boba tea.
Taqueria Tijuana has opened a second location at 12242 K Plaza in the L Street Marketplace. The original location is at 5139 South 24th Street in South Omaha.
Tommy’s Express Car Wash will begin construction soon on a car wash facility in the parking lot of Canfield’s Plaza near 85th & West Center Road, according to Investors Realty.
Nebraska’s first Take 5 Oil Change is officially opened on the northeast corner of 72nd & Highway 370 in Papillion, according to ACCESS Commercial. The North Carolina-based chain operates in a 1,500 sq. ft., three-bay building on a .68-acre lot.
Yoshitomo, a Japanese sushi-ya restaurant at 6001 Maple Street has been named as a semifinalist for outstanding restaurant in the 2024 James Beard Awards, according to the Omaha World-Herald. Tim Nicholson of the Boiler Room (1110 Jones Street) is a semifinalist for best chef in the Midwest region of the competition. Winners will be announced at the James Beard Restaurant and Chef Awards Ceremony June 10th in Chicago.
The Sports Hall at 3851 Farnam Street will permanently close this Sunday. The locally owned sports bar is located in the Blackstone District.
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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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Photo Above by Brad Williams
Professional Soccer Stadium Planned for North Downtown Along Abbot Drive
Alliance Sports, owner of Union Omaha, today announced its plans for an innovative, state-of-the-art soccer stadium near the Missouri River in North Downtown.
Positioned as the centerpiece of an extensive $300 million, 18-acre mixed-use project along Abbott Drive, the construction of the stadium with hard cost of $60 million is poised to start construction in the Fall of 2024, with doors opening to the public in the Spring of 2026.
To help pay for the project, the owners are actively pursuing legislation inclusion in the Sports Arena Facility Financing Assistance Act, anticipating a cumulative support of $25 million for the stadium project over 20 years.
The key components of the initial development plan include:
- Soccer Stadium – A 7,000-seat soccer stadium serving as the new home for Union Omaha, Nebraska’s only professional soccer team. Plans include adding a women’s soccer team in the future.
- Residential Units – Approximately 330 residential units, comprising a mix of apartments and townhomes, contributing to the urban living experience within the district.
- Retail Space – A significant retail component of around 100,000 square feet, providing diverse shopping and dining options for residents and visitors.
- Hotel – An approximately 140-room hotel, enhancing the area’s hospitality offerings and catering to the needs of the growing community.
“The development…is another commitment we all have to downtown Omaha and our urban core,” said Mayor Jean Stothert. “It will create additional opportunities for business and talent recruitment, tourism, conventions and meeting bookings, and youth sports events, growing our reputation as a sports competition and event destination that promotes Omaha to a national audience.”
An economic impact study conducted in 2021 projected the stadium would have a $99 million impact on the State of Nebraska and $168 Million to the City of Omaha from the stadium alone. The surrounding development is expected to further contribute with a projected $200 million impact and the creation of 450 new jobs.
“This district will help add to the exciting development already happening in downtown Omaha,” said Gary Green, co-founder of Alliance Sports. “It falls in line with the Chamber’s Urban Core Strategic Plan for bringing economic development and jobs to the heart of the city and we are very excited to see it moving forward.”
Union Omaha is currently playing matches at Werner Park in Papillion, sharing the park with the Omaha Storm Chasers, the Triple-A affiliate of the Kansas City Royals.
“This project will move professional soccer forward in Omaha and across the state,” said Martie Cordaro, Union Omaha President. “We anticipate 150 to 200 events a year will take place in the district including 20+ Union Omaha pro soccer matches, 15+ women’s team soccer matches, 20+ high school/college soccer matches, and 100+ community events for everyone to enjoy.”
Grow Omaha Snippets
Grow Omaha Snippets Sponsored by:
Steel beams are now going vertical as construction progresses on Children’s Nebraska’s $110 million, 4-story Behavioral Health and Wellness Center at 85th & West Dodge Road. The 107,000 sq. ft. building is scheduled to open in early 2026.
The Supernovas, Omaha’s new professional volleyball team played its first-ever game last night in front of 11,624 fans to CHI Health Center Omaha. It was the inaugural game of the Pro Volleyball Federation. Omaha lost to Atlanta 2 to 3.
Workers are now demolishing the former Mid-City Bank building at 42nd & Farnam Street in Midtown. The University of Nebraska Medical Center is removing the building to make way for yet-to-be-announced future expansion.
The City of Omaha is upgrading the Leavenworth Street and Saddle Creek Road intersection. The reconstruction project will create two left turn lanes on Leavenworth in both directions and increase capacity, according to KMTV. The city is planning to replace existing pavement in the area and install new traffic signals. The project will be done in phases to maintain traffic flow. Completion is planned for this fall.
You’ll be happy to hear that no Nebraska or Iowa cities are among with 25 U.S. cities with the highest homeless populations per capita, according to Yahoo! Some nearby cities did make the undesirable list: St. Joseph, Mo. #24; Topeka, Kan. #23; Denver #21; and Colorado Springs #19. The worst city is Eugene, Ore. followed by Los Angeles, New York City, San Jose, Calif. and Seattle.
Changes are coming to the Jones Street corridor between 12th and 13th streets in the southern part of the Old Market. Bluestone development has purchased the historic Fairmont Creamery building on the northwest corner of 12th & Jones Street. No renovation plans have yet to be announced for the vacant building.
On the south side of Jones Street, plans call for the creation of Old Market Gardens, an urban mini park. Old Market Gardens would include a small lawn, play garden, rain garden, seating/walking areas and a miniature outdoor café. The park would replace all the surface parking currently on the block. Two buildings on the block – The Bemis Art Center and a small historic brick structure – would remain and be incorporated into the park.
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.”
Local Business News Sponsored by FranNet of The Heartland:
Union Pacific Corporation today reported 2023 fourth quarter net income of $1.7 billion, or $2.71 per diluted share. This compares to 2022 fourth quarter net income of $1.6 billion, or $2.67 per diluted share. Reported net income for full year 2023 was $6.4 billion, or $10.45 per diluted share. These full-year results compare to full year 2022 net income of $7.0 billion, or $11.21 per diluted share.
AMCON Distributing Company, an Omaha-based consumer products company, announced fully diluted earnings per share of $1.78 on net income available to common shareholders of $1.1 million for its first fiscal quarter ended December 31, 2023.
Relax Pools, a swimming pool supply and installation business, is moving into a 1,227 sq. ft. space in Maple Creek Plaza at 16242 Evans Plaza in February, according to Investors Realty.
Green Plains Inc. will release fourth quarter and full year 2023 financial results prior to the market opening on February 7th and then host a conference call beginning at 8 a.m. to discuss fourth quarter and full year 2023 performance and outlook.
Half of Berkshire Hathaway’s stock portfolio is made up of technology-focused businesses. Interestingly, 48.5 percent of its $365 billion portfolio is held in just two “Magnificent Seven” stocks: Apple and Amazon, according to Yahoo Finance. Named for their incredible sizes, resources and technology advantages, the Magnificent Seven includes Microsoft, Apple, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla.
A new Simplify LLC study finds a record 5.5 million new businesses were formed in the United States last year, and Nebraska is the No. 30 best state to start a business in 2024. Despite having the nation’s smallest population, Wyoming was the best state to start a business. Not surprisingly, Illinois was dead last. Here are the top 10 states in order: Wyoming, Texas, South Dakota, Florida, Missouri, Tennessee, Delaware, Kansas, North Carolina, and Nevada.
Here’s more evidence that traditional media outlets are struggling – The Los Angeles Times is laying off more than 20 percent of its newsroom staff. The Washington Post recently laid off reporters and editors. After massive layoffs, Sports Illustrated’s future is deeply in doubt.
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 Residential
A Look Back at 2023 Real Estate in Omaha
By Joe Finlay
If one of your goals this year is to list your house and move, you’re likely juggling a mix of excitement about what’s ahead while feeling a little sentimental about your current home.
A great way to balance those emotionsk and make sure you’re confident in your decision, is to keep these three best practices in mind when you’re ready to sell.
Price Your Home Right
The Omaha housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, understanding market value is important. If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table.
Home buyers are most interested in properties within the first three weeks of the listing date, so pricing within fair market value increases visibility during that timeframe.
Keep Your Emotions in Check
Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), the average time a homeowner has owned their home increased from 6 to 10 years since 1985. In some more established neighborhoods in Omaha, the average is even higher.
The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you.
Every room has memories and that can make it even more difficult to separate the emotional value of the house from fair market price.
Stage Your Home Properly
While you may love your Husker décor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. Buyers want to be able to picture themselves in the home. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations.
Fair market value can be difficult to determine. Let’s connect to talk through the value of your home.
Grow Omaha Residential is developed and sponsored by Joe Finlay, REALTOR with NP Dodge Real Estate.
Grow Omaha University
Leadership & Sales Insights for Ambitious People
Sponsored by Dundee Bank
LEADERSHIP & MANAGEMENT
Return-to-office mandates haven’t—by and large—moved the needle on actual in-person work rates, according to Fortune. Office occupancy rates in major metro areas have held mostly steady at just shy of 50 percent since vaccines were made widely available.
More than 60 percent of U.S. companies will enlist the help of etiquette training companies in 2024 to teach their employees how to dress appropriately for the office, interact with clients, and respect shared spaces, according to Fortune.
Gen Z and young millennial employees in the United Kingdom are missing the equivalent of day’s work every week because of mental health struggles, according to Fortune. The average U.K. worker feels unable to work for almost 50 days a year, costing the British economy $176 billion a year. For younger workers, it’s 60 days.
Sony Group called off the $10 billion merger between its Indian unit and Zee Entertainment, stopping the creation of one of India’s largest broadcasters, according to The Hustle. Macy’s Macy’s turned down a $5.8 billion offer from Arkhouse Management and Brigade Capital Management to take the department store private.
People often make decisions based on the information that is already in front of them. This is called the “availability bias,” according to Keith Lubner, Chief Strategy Officer at Sales Gravy. Following this logic, if you present information to someone, they will make decisions based upon what you show them. Research prospects, figure out what they likely value and be first in line when it’s time for them to make a decision.
Your mindset about pursuing prospects changes everything, says author Mike Weinberg. “You are not a pest or annoyance. See yourself as a value-creator and a professional problem-solver. You are committed to securing a meeting because you believe the prospect needs you – that they are stuck in a suboptimal situation. They very likely have a need for which you have a solution. So, pursue prospects relentlessly because your motivation is pure – you want to help them!”
Here are 10 things you can try to prepare for your next sales call according to prospecting expert Tim Wackel:
- Learn About Their Business
- Google Them
- Define the Purpose
- Identify the Benefits
- Prepare to Add Value
- Establish Your Expertise
- Provide A Call Outline
- Reduce Resistance and Reluctance
- Plan the End of Your Call
- Be Kind, Build Trust
BradBird gives you an edge when competing for customers. There are 40 modules, each a different topic. Modules include a video and matching workbook. It’s only $79 per month and group discounts are available. You can cancel at any time. If you’re an action-taker, click HERE and get started now!
“Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson
Did You Know?
Surprising Facts, Figures & Points of Pride That Make Omaha Unique
This section is sponsored by Lockbox Storage.
Did you know that Douglas County was the number-one among U.S. counties with at least 500,000 population for fastest-growing GDP in 2022? Douglas County’s economic output increased 9.2% driven largely by growth in the finance and insurance industry.
Did you know Spencer Tracy’s 1939 Oscar for Best Actor for the movie Boys Town resides in Boys Town’s Hall of History. Spencer gave it to the organization himself.
Did you know the University of Nebraska Medical Center’s baccalaureate nursing program is ranked 15th in the nation?
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.
Upcoming Events in the Metro
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Spanish Wine Dinner on January 28th: High Tea Omaha and Spirit World are hosting a Spanish Wine Dinner! Join others on Sunday, January 28th at 6:00 p.m. for a unique culinary experience featuring food by Certified Executive Chef Cedric Fichepain with wine pairings chosen by Spirit World wine manager Alzuri. Cost is $125 per person and includes a 4-course meal and wine pairings plus gratuity. Seating is limited so reserve your tickets now!
Night Light on February 1st: Play at adults-only Thursday nights with exhibits and provocative programs that will expand your brain and spark joy. As the nights grow longer, make plans to join others for a joyful exhibition of light, art and science. Explore art from international and local artists, and exhibits and interactive activities!
BFF Artist Market on February 2nd: It’s the first Friday of the month! BFF is hosting another artist market where you can explore local artists and vendors. Make sure to check out the art pop-up featuring black artists! This event runs from 6 to 9 p.m. and is free to attend!
Be Our Guest: 90s/00s Disney Throwback Night on February 2nd: Experience nostalgic Disney magic at “Be Our Guest”: A touring DJ dance party for adults featuring 1990s/2000s classics like Lion King and Hannah Montana. This nationwide tour features DJs spinning the hits you grew up with from Disney soundtracks and Disney channel original movies. Guests can expect themed cocktails, audience members in costume, and even a chance to come on stage to lipsync your favorite song. Relive your childhood memories and dance the night away with throwback hits from the Disney Channel era!
South Beach Pop-Up Bar happening weekly on Thursday, Friday, and Saturday until March 16th: The Granary’s South Beach Pop-Up Bar transforms Ralston into a winter beach getaway, offering a unique escape from the cold. Guests can enjoy a range of tropical cocktails and mocktails, along with beach-inspired snacks. The atmosphere is enhanced with lively music, beach chairs, umbrellas, and tropical decorations, creating a paradise-like setting. It’s an ideal spot for those looking to break free from winter, experience summer vibes, or relax with friends. Reserve your spot today!
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
The Council Bluffs Chamber of Commerce has named Chris Laferla as president and CEO starting Monday, January 29th. He replaces Barry Cleaveland, who led the chamber on an interim basis.
Jim Duff has been appointed senior vice president of brokerage sales at Mutual of Omaha. He leads the brokerage sales team and handles the sales teams supporting Life, Long-Term Care, Accidental Death, Critical Advantage, Disability and Annuities and business distribution. Duff joined Mutual in January 2024 as the Senior Vice President of Brokerage Sales with more than 35 years of experience in the insurance industry.
ShineForth has appointed Justin Unrau as senior vice president of business development. ShineForth is a software company at 3925 South 147th Street.
WoodmenLife has promoted Ken Knaub to senior vice president & Chief Information Officer and Heather Bronson to director of enterprise agility. Woodmen has hired Stephanie Kahl as director of total rewards
Wall Street: The Week in Review
with George Morgan
Morgan is the 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.
An allegory is a story based upon fictional characters that is used to convey a real-world truth.
The greatest movie ever produced – Butch Cassidy and the Sundance Kid – is an allegory about Mr. Market and Wall Street. The movie begins with Butch and Sundance robbing a train. As they go about completing their sinister deed, another train appears and out pops dozens of law men with guns drawn, mounted of swift horses. And the chase is on.
As their flight from the long arm of the law continues, Butch keeps looking back at their pursuers and asking Sundance, “WHO ARE THOSE GUYS”?
Now back to the investing stuff. During his daily bloviating sessions, Cramer keeps jibber jabbering about what investors are thinking in his futile attempt to explain Mr. Markets jurations.
Which begs the question; who are these investors? Ben Graham made the distinction between those who buy and sell in the market as either speculators or investors. His definition of an investor is those who analyze the finances of a company, establish its worth, and compare it to its market price. In Graham’s world, everybody else is a speculator. Speculators think everything that happens is either good or bad and then buy or sell based upon that perception.
Cramer and his Wall Street brown nosers incorrectly use Ben Graham’s definition of an investor as they go about their daily market commentary. The implication is that the majority of market participants are making trading decisions based up financial fundamentals. The question they should be asking is, WHO ARE THOSE GUYS? On an average market day, 80 percent of the over 6 billion trades that are made by computers are either high speed traders or algorithm traders. Moral of the story – in order to understand what is happening in the market, you have to understand WHO ARE THOSE GUYS?
Wall Street knows WHO THOSE GUYS are, but are afraid that their clients would leave them if they knew the truth. On numerous occasions during turbulent times in the market, I have heard Cramer reluctantly state that “The quants (computers) are in control.” It’s an acknowledgement that he knows WHO THOSE GUYS are and then he jumps right back into blabbering about the market as those it was run by the analytical, unemotional investors.
Why do they continue in this way? In the words of the Oracle of Omaha, “It is hard to embrace change when you are being paid not to.”
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Have You Watched Grow O on Video Yet?
Sponsored by Dingman’s Collision Center
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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