Weekly Market Report – July 18, 2024

Nicole Buntgen, Contributing Writer

Koen Japanese BBQ & Sushi will open this fall in Blackstone next to the new Insomnia Cookies at 3863 Farnam Street, according to B Douglas Construction Solutions, which is building out the project. Koen’s existing location is in Lincoln, which opened in 2018.

Funny Bone Comedy Club has signed a lease to move into a 16,270 sq. ft. space in Miracle Hills. Funny Bone will be joined in the new space by Draftcade, an arcade bar and restaurant with locations in Kansas City; Toledo, Ohio; and Richmond, Va. Opening is planned for June 2025. Perkins-Critser Construction recently renovated the center, which is northwest of 114th & West Dodge Road. Funny Bone’s Omaha location is currently at Village Pointe. The Ohio-based company operates 15 comedy clubs in eight states.

Blue Hawaii, a new sushi restaurant, has officially opened at 1301 South 72nd Street in Aksarben. The locally owned restaurant is a spin-off concept from the owners of Oma’Oma’O Poke & Sushi at 124th & West Dodge Road.

Dunkin’ Donuts will open soon on the northeast corner of 156th & Ida Street. The store will operate in an end-cap space with a drive-thru, which is part of the 22,030 sq. ft. Waterford Crossing retail strip center. Other existing tenants include Big Red Neighborhood Grill & Sports Bar, Bussey Physical Therapy and several others.

Tarot Room, a new speakeasy located in the back of Circo at 19102 Q Street, has officially opened. Hours are 6 p.m. to 1 a.m. Wednesdays through Sundays. To access, guests enter through Circo and ask the host for a tarot reading. Guests who arrive after 9 p.m. must enter through the side door by the neon Tarot sign.

Burger Detour, a locally owned restaurant, stated online that it will open its 204th & Pacific location within the next 10 days. The restaurant’s existing location is in northwest Omaha at 18308 Evans Street.

Nordstrom Rack plans to hold a grand opening celebration Thursday, October 24th for its first Nebraska store at Village Pointe Shopping Center in Omaha. The Seattle-based, off-price, department store will open in a 30,000 sq. ft. space formerly occupied by Bed Bath & Beyond at 255 North 170th Street.

Wag N Wash, a pet supply store and dog grooming business, will open tomorrow at 18902 Evans Street, just off 192nd & West Maple Road.

Costco Wholesale has officially opened its newest store at 17701 Evans Street near 180th & West Maple in Elkhorn. Costco’s existing metro locations include 120th & Dodge and 125th & West Giles in La Vista.

Omaha Dog Bar has been ranked No. 9 on USA Today’s list of the top 10 best dog bars in America, according to an expert panel’s selection and reader votes.

The Taco Bell restaurant at 18370 Wright Street temporarily closed recently so the building can undergo a major renovation.

Construction has gone vertical as structural steel is now in place for a free-standing, 7,500 sq. ft. Cheddar’s Scratch Kitchen restaurant building on the north side of Village Pointe Shopping Center east of Firebirds Wood Fired Grill. Cheddar’s has an existing location near 120th & L Street.

A Foreign Taste has permanently closed at 14242 Fort Street in Standing Bear Plaza. The fine-dining restaurant previously transitioned to an events-only venue back in June. Casa Jalisco Mexican Bar and Grill, a family-owned restaurant, will take its place.

Michelle Alfaro, owner of Sauced by Alfaro, announced she will be featured on a Food Network show in 2025. The self-taught chef originally based her business in Louisville, NE, before moving to Papillion in May 2022.

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

‘Memoir’ is an Omaha Love Note to Culinary Craftsmanship

Visiting Memoir for the first time, I felt like I had stepped into a swanky 1920s Hollywood restaurant. The open floor plan lets you look right into a bustling kitchen and take in the stunning décor as you walk inside. The host station is strategically positioned right in the middle so you can do just that while the hostess looks up your reservation. Just beyond the entrance is a stunning bar that forms a rectangle in the middle of the restaurant.

Memoir opened last February and is one of the newest Flagship Restaurant Group concepts. I’ll get it out of the way right now: Memoir is a charming, energetic, warm and inviting establishment with the cuisine to match.

General manager, Jay Marquias, is a big reason why. He has more than 24 years of restaurant experience, starting as a server at Charleston’s and working his way to management. He helped open the Charleston’s at 74th & Dodge Street as senior kitchen manager and was eventually promoted to general manager at Mahogany. Now, he brings his fine dining expertise to Memoir.

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City Proposes Bonds to Pay for Major Capital Improvements

A series of bond issues will be on the November general election ballot if approved by the Omaha City Council at its meeting July 30th. The general obligation bonds will not raise the city’s property tax levy, according to a press release from the mayor’s office.

The bonds will pay for projects listed in the Capital Improvement Plan (CIP) in six categories: public safety; public facilities; transportation; street preservation; parks and recreation; and sewer.

Transportation bonds will total $80.9 million and include large road projects that are paid with federal funds but require a local match. The city uses bonds to pay the match.

Examples of transportation projects to be paid with future bonds include: Fort Street improvements west of 120th Street; L Street viaduct at 38th Street; Saddle Creek & Dodge Street bridge replacement; Enterprise Park Roadway near 11th & Locust; and 180th Street widening between Harney and Arbor streets.

Public facilities bonds will total $146 million and would include: Downtown police and fire facilities; renovation/expansion of the CHI Health Center Omaha convention center area; and a new police outdoor gun range to replace the existing one in Elkhorn.

Public safety bonds will total $10 million and would include money to pay for police and fire department equipment and vehicles.

Street preservation bonds will total $72 million and would be used to continue the accelerated street repair and maintenance program authorized by voters in 2020. Those bonds pay for a variety of construction and reconstruction projects.

Environmental, or sewer, bonds of $14.5 million pay for projects including neighborhood storm sewers and drainage, Missouri River flood control system and channel stabilization.

Finally, parks and recreation bonds of $10 million will be used to purchase land for a public purpose, build new facilities, including community centers, sports fields and courts, playgrounds and splash pads, future trail connections and rehabilitation of major facilities.

If the city council approves the bonds, the city will have authority to issue bonds through 2032. The first reading before the city council took place earlier this week.

Isaiah Ang, Contributing Writer

Omaha Public Power District held a ribbon cutting for its newest power generation facility last week. Platteview Solar consists of 188,000 solar panels on 500 privately owned acres near Yutan. Total capacity is 81 megawatts, enough to power 14,000 homes. It is the largest solar project in Nebraska. This project is just one of several to add 2.5 gigawatts of new generation to OPPD’s capacity. Other projects being completed this year are two new natural gas plants, which will have a combined capacity of 600 megawatts.

The Omaha City Council approved the acquisition of both permanent and temporary easements for the future streetcar route. The temporary easements are required for access during the construction period. The city council also authorized the use of condemnation powers to acquire the easements if the city is not able to procure the necessary easements through negotiations with a landowner. In a condemnation action, landowners who own the land where easements will be located are compensated according to an appraised value of the easement.

Crews have started tearing down a handful of houses and small apartment buildings near 39th & Dewey Street to make way for the University of Nebraska Medical Center’s $65 million residence hall. When complete, the 6-story building will house 300 residents. The new residence hall will be UNMC’s first large-scale student housing option.

Less than a third of Kiewit Hall is still standing. Creighton University is demolishing the 58-year-old, 9-story residence hall, which is located in the southwest corner of campus near the along Interstate 480 & North Freeway interchange. The building is being cleared to make way for future campus redevelopment.

The Omaha City Council approved a contract with Emspace + Lovgren to provide marketing and communications services for the combined parking and streetcar projects. Under this contract, Emspace will provide coordinated communication regarding parking improvement around the streetcar route, align communications with the city, the Omaha Streetcar Authority and Park Omaha, and manage communications to and with the public about the mobility enhancements.

Construction of the $950 million Eppley Airfield terminal expansion project has already gone vertical. When it is 100-percent complete in 2028, the terminal will grow from 375,000 sq. ft. to 646,000 sq. ft. and be combined into a single unified concourse with a centralized security screening checkpoint. The number of gates will increase to 22 with two of them capable of handling international flights and connected to a Customs and Border Protection arrivals hall.

The City’s Business Improvement Districts, or BIDs, will receive an injection of Covid-19 ARPA funding. The City Council approved several resolutions for payment of the funds ranging from $42,000 to $285,000 for a variety of lighting improvements and sidewalk repairs. Additional improvements include lighted bollards along Maple Street between 60th Street and 63rd Street in the Benson BID and city cameras in alleys in the Old Market and throughout the Downtown BID.

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Cheer Athletics plans to build a 70,000 sq. ft. building near 200th & Highway 370 in Gretna. The All-Star Cheer business is currently located near Highways 50 & 370 in Papillion. The new gym will be part of a 34-acre development just west of the new Gretna Landing development. Additional buildings and businesses will be announced soon. Cheer Athletics’ building is scheduled to open in late 2026 or early 2027.

Custom Detail Supply, a division of Custom Dealer Solutions, is opening a new retail store at 14730 Grover Street, just down the street from the company’s warehouse. The company serves professional detailers and Do-It-Yourself enthusiasts. The 1,500 sq. ft. retail space includes an area for videos and detail training. Grand opening is July 20th

Ivy Brook Academy, a half-day preschool, is opening August 12th in former FNBO branch building southeast of 168th & Giles Road. Ivy Brook started in Charlotte, N.C. and now has 60 locations. The closest existing locations are in Rogers, Ark. and in the Denver area.

The former H&H Chevrolet dealership at 84th & L Street has been demolished. Once all the debris is removed, construction can begin on Food Bank for the Heartland’s $37 million, 105,000 sq. ft. new building. H&H recently moved to the Steel Ridge development near Interstate 80 & Highway 370.

Union Pacific Corporation will increase the quarterly dividend on the company’s common shares by 3 percent to $1.34 per share. The dividend is payable September 30, 2024, to shareholders of record August 30, 2024. Union Pacific has paid dividends on its common stock for 125 consecutive years.

Union Pacific Corporation will release second quarter 2024 financial and operating results on Thursday, July 25, at 6:45 a.m. CDT. The company’s management team will host a conference call and live webcast at 7:45 a.m. CDT.

Green Plains Inc. will release second quarter 2024 financial results prior to the market opening on August 6, and then host a conference call beginning at 9 a.m. CDT to discuss second quarter 2024 performance and outlook.

HDR has been selected to lead a new study of passenger mobility and develop possible solutions for Minneapolis-St. Paul International Airport. The airport, consistently named one of the best airports in North America, is exploring options for replacing its tram system to improve the experience for passengers and employees.

For an 11th straight month, Creighton University’s overall Rural Mainstreet Index sank below growth neutral, according to the July survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The region’s overall reading for July sank to 41.3, its lowest reading since November 2023, and down from 41.7 in June. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

Farmland values have stabilized in Iowa, Kansas, Nebraska, South Dakota and Wyoming, according to Omaha-based Farm Credit Services of America. As a whole, benchmark values ticked up an average of 0.07 percent. In Nebraska, cropland values increased an average of 0.5 percent in the past six months and 7.0 percent in the past 12 months.

U.S. consumer prices dipped just 0.1 percent in June, according to The Hustle, but that’s still enough to mark the first monthly decline in living costs since May 2020.

LEADERSHIP & MANAGEMENT

Like many ultra successful people, Warren Buffett places a premium on his time: “The difference between successful people and really successful people is that really successful people say no to almost everything.”

According to a Bankrate survey, 36 percent of American adults have a side hustle. On average, side hustlers make $891 per month.

SHRM, a lobbying and advocacy group with 340,000 members, announced this week that it wants employers to focus on inclusion and diversity efforts—in that order, according to the Wall Street Journal. SHRM said that it’s moving away from equity language to ensure no group of workers appears to get preferential treatment. Equity, in HR parlance, is the notion that companies should take steps to level the playing field for workers.

While 51 percent of employees are watching or actively searching for a new job, many are finding their aspirations tamped down by an incredibly competitive and tricky job market that’s defined by a long and often trying application process, according to Fortune.

SALES

One of the hardest steps in the top-of-funnel sales process is securing that first meeting, says best-selling sales author Jeb Blount. Luckily, math is on your side, because:

More Meetings = More Opportunities = More Sales

Blount says you should always set an objective for each call. Primary call objectives include: Building rapport; Gathering information; Understanding needs; Determining fit; Qualifying.

Secondary call objectives include: Calling back (do not leave message); Leaving a voicemail (similar to leaving behind a brochure on somebody’s desk); Re-dialing the gatekeeper or receptionist for information gathering; Calling in and around the bullseye

WISDOM

“Management is doing things right; leadership is doing the right things. – Peter F. Drucker.

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Did you know more than 800 Hagan Scholarship recipients from across the country attended the 2024 Hagan Scholarship Foundation Workshop at CHI Health Center Omaha this week? According to Visit Omaha, the event generated more than $1.1 million in visitor spending for the local economy.

Did you know that Fontenelle Forest near Bellevue is 1,500 acres and has 17 miles of trails?

Did you know American Airlines has served OMA continuously for over 40 years and that they provide nearly 100 departures a week to six exciting year-round destinations plus a bonus destination in the winter? (Source: Omaha Airport Authority)

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Wild Plant Party on July 20th: Join Mulhall’s for the party as they celebrate the plants of the Great Plains and welcome nature back to the city! Shop native plants with popups from local growers and our very own collection from Mulhall’s Farms. Enjoy food, beverages, local popups, activities and the chance to meet experts from the Great Plains native plant community.

Late Nights at the Zoo (21+) on Thursdays: This summer Omaha’s Henry Doorly Zoo & Aquarium is opening its doors for adults only on Thursday nights! No kids, all fun! Sips, bites and wild sights select Thursday nights all summer long. 21+ only.

Yoga in the Park happening on Sundays: Yoga in the Park offers a weekly outdoor yoga session, sponsored by Methodist Health System and led by certified yoga instructors from Genesis Health Clubs. Yoga styles and instructors will vary from week-to-week. All skill levels welcome, including beginners! Attendees are welcome and encouraged to bring a water bottle and blanket or mat.

E-Commerce & Friends Meetup w/ Teri Hall, Made in Omaha on July 25th: Join Elevator Co-Warehousing + Community at their E-Commerce & Friends Meetup! Stop by, grab yourself a drink, and be ready to hear Teri Hall, founder of Made In Omaha, tell the story of Made In Omaha and get some of her advice. Bring your questions during our Q&A portion. You’re not going to want to miss out!

Jazz on The Green – SRT on July 25th: In an era where music is created virtually in bedrooms and basements, SRT is creating modern music the old-fashioned way: live, together in the studio. Session ace Andrew Synowiec, drumming legend John “J.R.” Robinson, and jazz phenom Mitch Towne have formed a power trio with one foot in the past and one foot in the future. Come out to this free event happening at Midtown Crossing and bring your friends, family or partner!

Omaha Bike Week happening July 25th – 28th: This is the first annual Omaha Bike Week happening from July 25th – 28th at the Granary Green! You can expect plenty of vendors, live music, food trucks, and of course, bike shows. Competitions include corn hole tournaments, bull riding, burnouts and more!

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!

Lutz, an Omaha-based business solutions firm, recently announced 2024 promotions to shareholder, c-suite and director roles. Clarke Beller, CPA, has been promoted to audit shareholder. Tony DeSantis has been promoted to data analytics shareholder. Justin Korth, CPA, has been promoted to tax shareholder. Jon Patent, CPA, has been promoted to tax shareholder.

Earlier this year, Core Bank promoted David Hartman from executive vice president to president and Chief Lending Officer. He has been with the bank since 2011. Brian Dryak was promoted to senior vice president and director of residential mortgage.

McGrath North has added attorney Katherine McNamara to its litigation practice group. She received her law degree from Touro University Jacob D. Fuchsberg Law Center in New York.

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.

Every day I am bombarded with a plethora of articles touting the next once-in-a-lifetime stock tip that will allow me to retire at age 12. I don’t know how many times a week there’s an article on Yahoo Finance that proclaims that buying Buffett’s latest acquisition will allow you to immediately move out of your parents’ basement, and into your own Miami condo. Problem is, Buffett stopped managing the Berkshire portfolio 15 years ago, and you’re not a publicly traded conglomerate.

But there’s more to being a stock jockey than just picking stocks. Let me use a sports analogy to illustrate this point. I grew up in Southern California and devoted my days to playing golf and drinking beer. (Not necessarily in that order) One Sunday, we were playing the Bonita Valley course. On the seventh hole, which is a short par-3, my tee shot zoomed sharply to the right, striking a tree 10 yards off the green. Then, for what seemed an eternity, the ball rolled onto the green and in to the cup. I went on to end the round with a miserable 138 total, something Tiger Woods could do blindfolded. The moral of the story is that, every once in a while, a blind squirrel finds an acorn – and then dies from starvation.

Now back to stock picking. Investing is not a one-size-fits-all proposition. Suppose you are a 20-something living in your parent’s basement, and in January, you get an email from Cramer saying that Nvidia is the hottest thing since sliced bread. You immediately rush to your cell phone, pull up your RobinHood account, and place all of your $2,000 net worth in Nvidia stock. Then at the end of June, six months later, the stock price doubles, and so does your net worth. You quit your day job and spend the next five years searching for your next acorn.

Or on the other hand, suppose you are a 65-year-old retiree with a $500,000 IRA rollover. In January, you get the same email from Kramer, and because you are unwilling to bet the farm on Cramer, you only purchase $25,000 worth of Nvidia. Same scenario as above. Nvidia doubles, you pocket $25,000, and your net worth increases by 5 percent. If, on the other hand, you understand that owning an S&P 500 index fund gives you partial exposure to all of Cramer’s once-in-a-lifetime stock picks, and you prudently purchase $500,000 of in index fund instead, at the end of the same six months, you would have increased your net worth by 21.4 percent.

Prudent investing begins with understanding who you are and what you are trying to accomplish. One-size-fits-all only applies to socks and baseball caps.

This section is brought to you by All Makes and Allsteel. For more than a century, All Makes has remained family-owned and committed to supplying businesses with workplace solutions, specifically furniture and technology. To learn more, visit one of our showrooms in Omaha, Lincoln, Des Moines, Columbus, Kearney, or North Platte.

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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.

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