Weekly Market Report – July 20, 2023

Jul 20, 2023

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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, Quantum Fiber!

Restaurant & Retail Updates

Heart of Asia Cuisines restaurant has opened at 324 South 14th Street downtown in the former Saigon Surface space.

Koi Sushi & Teriyaki Bowl plans to open soon in the former Rebel Monkey and Pudgy’s Pizzeria bay southwest of 168th & Harrison Street.

Interior build-out is underway for Untamed Kitchen on the southeast corner of 15th & Farnam Street. The building, which has been completely remodeled, was once home to Jazz Louisiana Kitchen. Untamed Kitchen will be a health-and-wellness-focused ,fast-casual restaurant.

Jimmy John’s will open in late September or early October at 4002 North 203rd Street, according to Lee & Associates. It will occupy an end-cap space in a newly constructed retail strip in the Indian Creek area.

A free-standing Starbuck’s building with drive-through is under construction on the northeast corner of 42nd & L Street. The building is now enclosed with interior construction work ongoing.

Site preparation and dirt work have started for a stand-alone Hy-Vee Fast & Fresh convenience store and gas station southwest of 204th & West Center Road.

Amazing Lash Studio will open its first Omaha location tomorrow in the Shoppes of Aksarben at 1110 South 72st Street. The nation’s largest lash-and-brow services franchise, Amazing Lash Studio has 275 locations in 30 states.

Makovicka Physical Therapy is expanding its clinic at 8419 South 73rd Plaza in Papillion by adding 2,064 sq. ft. to their existing space, according to Trenton Magid and Gabrielle Estivo of NAI NP Dodge, who represented the landlord in the retail lease.

Avoli Osteria at 5013 Underwood Avenue in Dundee recently celebrated its 10th anniversary.

Speaking of anniversaries, Kros Strain Brewing marked its sixth birthday last week at 10411 Portal Road in La Vista.

Brought to you by:

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

Grow Omaha Eats with
Sarah Baker Hansen

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digital rendering of Flatiron District project buildings

Review: At west Omaha’s W.D. Cravings, homemade pasta is king

By Sarah Baker Hansen

When the “open” sign was off and all the blinds were closed at 6 p.m. on a Tuesday night when we pulled up in front of TO5 Bollywood Grill, I wondered if this review was going to happen at all.

Lucky for you, I decided to go see if the door was unlocked. It was.

I’ll happily claim this moment as one where I got a “wild hair,” as my grandma used to say, to do something that I wanted to do even if no one else was interested: Review the mysteriously named TO5.(If anyone knows what that means, let me know. I never got a response from the restaurant on my query.)

Anyway. It turns out, in spite of forgetting to turn on the “open” sign, TO5 is serving some solid Indian takeout — it’s not Kinaara, mind you — but we found some gems. And, I have to say, the takeout order we got on our second visit was packed with more care than any single takeout order I’ve ever received.

Two friends who live near the restaurant told me on separate occasions that TO5 was one of their takeout go-tos. That’s how it found its way onto my radar.

On our first visit, we were one of only two tables dining in the restaurant, and that’s how I learned, like my friends, most customers order their food to go.

We landed on some of our favorites from the menu: matar paneer, chicken tikka masala, naan. And I ordered, just for fun, a jalapeno and onion salad.

I really liked its simple mix of pickl-y, lemony onion mixed with chopped raw jalapeno and topped with warm spices. I would not advise ordering it on a first date, but if you’ve been married 14 years, you’re in the clear.

Both the entrees we ordered surprised us with how solid they were. Matar paneer came packed with plenty of Indian cheese and crisp-tender peas; I ordered the sauce medium and it packed a pleasant heat. The chicken in the red Tikka Masala sauce was tender, without even a touch of dryness. I also appreciated that in both dishes, protein abounded. Another small but nice touch: the bowls of jasmine rice are unlimited, and as a diner who almost always runs out of rice for leftovers, I appreciated it.

We tried the “bullet naan,” filled with cheese, chopped jalapeno, cilantro and spices, all topped with melted butter. It’s very good.

Inside, TO5 is a mashup of design: It looks and feels like it used to be a Mexican restaurant because it did. The space also used to be a former Godfather’s Pizza. Now, it’s decorated with , with blown up photographs of Bollywood movie stars in romantic poses, and that romance theme runs through the menu and several signs in the space that say “The Food. The Taste. The Romance.”

Maybe that’s why all the blinds were closed: Mood lighting.

Service at TO5 was a bit slow but friendly; I ordered a glass of pinot noir and got a pinot grigio, but the server exchanged it with no problem. Doordash drivers and folks picking up takeout arrived in a steady stream the night we dined in, and a week later, when I arrived to pick up my own, it was ready right on time. Another nice touch: complimentary, hot chai tea for drivers or guests who are waiting. And it’s quite good, too.

We discovered the real gem of all our visits in the takeout order: Karahi chicken. Made with layered Indian spices, plenty of ginger and a good amount of heat, I learned that Karahi chicken is one of the most popular curries in both India and Pakistan. The dish is named after the vessel its prepared in, which is similar to a wok. The signature bright flavor of ginger cools the heat. This dish alone would make me order takeout from TO5 again.

Lamb curry also had plenty of meat and flavor, thanks to a thick, deeply flavored curry.

The Bollywood Combination is a combo basket of fried Indian appetizers, the best of which is the meat and pea filled samosa, though I also enjoyed a veggie pakora, which reminded me of a hushpuppy.

I’d recommend ordering a side of the mint chutney and dipping basically everything in it: verdant with herbs and bold with citrus, it’s just great.

Most dishes at TO5 we tried were well-executed and packed with protein. Small touches, like the well-packed takeout, the free chai and the unlimited rice made me like it even more.

TO5 Bollywood Grill
https://www.to5bollywoodgrill.com/
7515 Pacific St.

531-867-3183

Hours:
Mon – Sat: 4:30p – 9:30p
Sun: 11a – 9:30p

Grow Omaha Eats with Sarah Baker Hansen is sponsored by Cheer Athletics, one of the largest and most respected All-Star cheerleading programs in the United States. The Omaha location is at 14620 Gold Coast Road, near Highway 370 and 144th Street. Learn more HERE!

The Big Story

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digital rendering of Flatiron District project buildings

An opportunity to see behind-the-scenes spaces that shape the metro area

Open Omaha, a weekend-long showcase of the Omaha metro’s most fascinating spaces, will return for a second year Aug. 5-6, 2023. The event features places that make Omaha special, including museums and cultural institutions, creative workspaces, religious buildings, performance spaces and sports venues.

The free event, created by Omaha by Design, is expanding this year and will feature 63 venues — a 21 percent increase from 2022.

Newly participating spaces include the North Omaha Trail, KIOS Omaha Public Radio, La Vista’s City Centre, Papillon City Hall and the historically renovated Omaha Public Library Downtown Branch.

Returning venues include the Benson Theatre, Charles Schwab Field, First Avenue Trail in Council Bluffs, the Highlander Accelerator and St. Cecilia Cathedral.

Inspired by similar concepts in cities like Denver, Minneapolis and Chicago, Open Omaha invites people of all ages, backgrounds and interests to explore places in the metro they may have never before visited. Venues will be open throughout the weekend for walk-in tours, and people are encouraged to chart their own course and visit as many venues as they’d like using the Open Omaha app.

Open Omaha drew more than 6,000 venue visits in 2022. Organizers are expecting an even larger turnout this year.

“Omaha by Design is thrilled to bring Open Omaha back for a second year with even more venues,” said Scott Dobbe, executive director of Omaha by Design. “Last year’s event demonstrated the incredible power of bringing people together to open doors, open minds and open conversations about our city. Join us once again to experience the places and spaces that make the Omaha metro such a wonderful place to live, work, explore, gather and dream.”

Many participating venues will be open Saturday and Sunday from 10 a.m. to 5 p.m. Attendees are encouraged to download the Open Omaha app to confirm venue hours and map out the spaces they plan to visit.

Open Omaha is free to attend thanks to the generous support of the following sponsors: Noddle Companies; NuStyle Development; he Sherwood Foundation; Cox Business; Iowa West Foundation; Millwork Commons; OPPD; Dundee Bank; FNBO; Olsson; Security National Bank; Baird Holm LLP; Bluestone Development; DLR Group; Farm Credit Services of America; GreenSlate Development; HDR; Omaha Downtown Improvement District; RDG Planning & Design; U.S. Bank.

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 why history never looked so good — click HERE for some of our newest historical timelines.

Grow Omaha Snippets

Grow Omaha Snippets Sponsored by:

Midtown Crossing Logo

The first vertical structural elements have been installed for Mutual of Omaha’s future 44-story, 677-foot tower downtown. For the past half year, crews had been drilling and creating pilings upon which the 800,000 sq. ft. building will sit. The first vertical elements are on the project’s north side along Douglas Street.

Construction is coming along nicely at the Flats on Howard, a $28 million multi-family project at 2323 Howard Street. Work has now reached the fourth floor of the future 6-story building. When completed, the building will have 120 market-rate apartments.

Graves Hall, Creighton University’s new freshman residence hall, will open next month at 23rd & Burt Street. It is the first residence hall to be built on the CU campus since 2006 and will house 400 students. Amenities include an outdoor courtyard, fire pits and a volleyball court.

Construction has topped out on the 4-story mass timber office building at 1501 Mike Fahey Street in the Builders District. That means the timber-and-steel skeleton is now in place.

The new Gretna East High School is ready to open August 10th and serve 750 students this school year, according to the Omaha World-Herald. The $120 million school building and grounds are located at 180th & Lincoln Road.
The existing Gretna High School at 11335 S 204th Street will enroll about 1,200 students this year.

Grading and foundation work on are in full swing downtown immediately east of The Holland Center and south of Steelhouse Omaha. Crews are building the $103 million Center for Arts Engagement.

Workers are feverishly completing the final parts of two Riverfront projects – Heartland of America Park and Lewis & Clark Landing. The two parks are scheduled to open August 18th.

Nebraska has the 14th best job market in the nation, according to a new study from Peak Sales Recruiting. Nebraska had 1.9 percent employment growth (May 2022 to May 2023) and a 5.1 percent increase in job openings. Nebraska wages increased 1.2 percent from 2021 to 2022. The top three states were Louisiana, South Carolina and Florida. The two worst states were California and New York, where wages dropped 6.9 percent and 5.1 percent respectively.

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:

Two new hotels are planned for the a 7-acre site in La Vista’s Southport East development, southeast of Interstate 80 & Giles Road, according to the Omaha World-Herald. The land is owned by PayPal and is next to the former PayPal Buildings, which are now owned by Kiewit and Noddle Cos. Plans call for a 119-room Holiday Inn Express and a 112-room Residence Inn. Construction could start as soon as this fall and be completed in 2025.

Valmont Industries, Inc. opened a sustainably-focused concrete utility pole manufacturing facility in Bristol, Ind. to support the green energy transition to electrification. The facility is projected to improve its CO2 avoidance by more than 400 tons by the end of 2023. Omaha-based Valmont, one of the largest utility structure producers in North America, partnered with Ameresco, a leading cleantech integrator and renewable energy asset developer, to build the solar array.

Mead Lumber, an Omaha-based supplier of building materials and services, has launched a rebranding initiative aimed at updating the company’s look and creating consistency across its business units. As part of the rebranding initiative, Mead Lumber will unveil a new logo, website, and web address, which is Meadlumber.com. Some Mead Lumber locations will also be changing their name to Mead Lumber, while others will keep their name but will follow the new logo and design scheme.

Omaha-based HDR, in collaboration with Walker Corporation and Lyons, has designed Western Sydney University’s new 285,243 sq. ft. vertical Bankstown City Campus as part of an AU$340 million investment that cements Western Sydney’s transformation into a thriving academic, innovation and research precinct.

AMCON Distributing Company, an Omaha-based consumer products company, announced fully diluted earnings per share of $6.59 on net income available to common shareholders of $3.9 million for its third fiscal quarter ended June 30, 2023.

Union Pacific Corporation will release second quarter financial and operating results on July 26, 2023, at 6:45 a.m. CDT. The company’s management team will host a conference call and live webcast at 7:45 a.m.

Green Plains Inc. and Green Plains Partners LP will release second quarter 2023 financial results prior to the market opening on August 4, 2023, and then host a joint conference call beginning at 8 a.m. CDT to discuss second quarter performance and outlook.

Werner Enterprises, Inc. will release its second quarter earnings on August 3, 2023, after the market close. The company will also hold a conference call to discuss the second quarter results and updated 2023 outlook on the same day, beginning at 4:00 p.m. CDT.

Olympus Energy LLC of Canonsburg, Pa. has announced the execution of an agreement with Omaha-based Tenaska Marketing Ventures for the sale of the company’s certified responsibly sourced gas produced in the Appalachian Basin.

Mutual of Omaha has launched a new wellness program called Better Living Longer to support long-term care policyholders who prefer to maintain independence at home as they age. Mutual developed the online program in conjunction with The Helper Bees, a “mission-driven company focused on empowering aging in place through its digital solutions and human-centered engagement.”

Focus Therapy and Performance Coaching will hold a seminar unlocking secrets of the NCAA recruiting process July 22nd from 9:00 a.m. to 12 noon at Papillion South High School. The recruiting process has changed drastically over the last three years, because of the transfer portal and Name, Image and Likeness. Speakers include Tim Bennett, a certified mental performance coach, and Chris Aumueller, CEO of FanWord, the leading NIL company serving over 50+ athletic organizations and 15,000 student athletes. Register here.

Restorative Oasis Energy and Wellness Collaborative leased 5,048 sq. ft. at 2002 North 204th Street, according to Todd Schneidewind and Will Schneidewind of NAI NP Dodge.

Sales of air conditioners jumped 248 percent on Amazon during the 30 days ending July 14th because of heat waves across the country, according to The Hustle. Fan sales increased 60 percent.

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-founder and sales trainer Jeff Beals.

Sponsored by Dundee Bank

LEADERSHIP & MANAGEMENT

A toxic culture is 10.4 times more likely to push employees out the door than a nontoxic work environment, writes Saphia Lanier in a HubSpot blog article. There are several reasons why you should build a healthy company culture: 1. Employee retention; 2. Higher engagement and productivity; 3. Fewer interpersonal conflicts.

If employees feel that they are asked year after year for detailed feedback but nothing changes, they will stop taking part in “engagement surveys,” according to Fortune, in part because they won’t truly be engaged. Not taking heed of what employees are communicating increases their alienation.

An annual Gallup survey of 15,000 U.S. workers found that employee engagement has fallen to its lowest levels since 2015. The drop was most acute among people under 35, according to Fortune.

Despite the return of teeth-grinding commutes and overpriced lunches, lots of workers are sticking with the Covid-era habit of clocking out early and making it up later. By 4 p.m. on weekdays, golf courses are packed, according to a according to the Wall Street Journal, as are many New York City restaurants.

Microsoft researchers have documented what they call a “triple peak” phenomenon in which workers’ keyboard activity spikes in the morning and afternoon, then a third time around 10 p.m. The tech giant predicts this pattern is here to stay. In a recent sample of Microsoft Teams software usage, the share of virtual and in-person meetings scheduled between 4 p.m. and 6 p.m. was down 7 percent from a year earlier, despite widespread office returns.

SALES

Sales author Kevin Davis recently shared five coaching strategies for maximizing sales results: 1. Cut poor performers faster; 2. Coach somebody before noon every day; 3. Repurpose your company’s sales rep job description as a sales development tool; 4. Take sales coaching to your salespeople, don’t wait for salespeople to ask for coaching; 5. Sales rep forecasting, ask better “deal coaching questions.”

Best-in-class companies close 30 percent of qualified leads, while average companies close 20 percent, according to Spotio.

Here’s a sales qualification question for B2B sellers to try: “What are your company’s competitive strengths and weaknesses?”

WISDOM

“If passion drives you, let reason hold the reigns.” – Benjamin Franklin

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?

Did You Know?

Surprising Facts, Figures & Points of Pride That Make Omaha Unique

This section is sponsored by Lockbox Storage.

Did you know that the average Omaha worker produces $2,000 more goods and services each year than the U.S. average?

Did you know that the Reuben sandwich was invented in Omaha? Reuben Kulakofsky, a Lithuanian-born Jewish grocer, asked for a sandwich made of corned beef and sauerkraut at his weekly poker game held in the Blackstone Hotel from around 1920 through 1935. The chef added swiss cheese and thousand island dressing and served it on rye bread.

Did you know Omaha gets less snow on average than New York City? Omaha gets 25.6 inches per year, according to CurrentResults.com, while New York gets 29.8.

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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Omaha Water Lantern Festival on July 22nd: The Water Lantern Festival is filled with fun, happiness, hope and great memories that you’ll cherish for a lifetime. This is a family friendly event that can be shared by everyone. Friends, families, partners, whoever you choose to bring, are in for a night of magic. Reserve your tickets today before they sell out!

1234 ~ Market at Dusk Goods & Gifts on July 22nd: Sidewalk markets season is upon us! And Dusk Goods & Gifts is hosting the next one on 13th street! Come out for an afternoon of shopping from local makers and gathering gifts for your home. Alongside local makers, you’ll be able to enjoy the food and wine trucks from 11am to 4pm.

Ribstock BBQ Festival & Lager Fest on July 22nd: Celebrate the tenth annual Ribstock BBQ Festival this year at the Granary Green! Enjoy Omaha’s best BBQ vendors, live music, kids’ activities and more for a great cause. Supporting multiple charity organizations, Ribstock continues to build on their theme of business, community, and BBQ! In addition to Ribstock, the Nebraska Craft Brewers Guild is bringing back Lager Fest for a second year, celebrating the summer’s most crushable beer, ciders and seltzers with a focus on craft lagers. This is a can’t miss event with a perfect combination of BBQ and beer!

Yoga in the Park on July 26th: Immerse yourself in the blissful experience of Yoga in the Park, presented by Methodist Health System. Enjoy the backdrop of Turner Park at Midtown Crossing, this captivating event happens every Sunday until July 30th at 4 p.m. Led by certified yoga instructors from Genesis Health Clubs, these outdoor sessions offer a variety of yoga styles and instructors, ensuring a dynamic experience week after week. Whether you’re a seasoned yogi or a curious beginner, all skill levels are warmly welcomed to join this transformative practice!

Wednesday Dance and DJ on July 26th: Call up your dance partner and join others for a mid-week night of fun! Every Wednesday night at Bushwackers, DJ Nick The Quick will be playing his best mix up from 8 p.m. to 1 a.m. Before you hit the dance floor, Ron Shepard teaches free couples dance lessons to prepare you for the dance floor. Get your dancing shoes on and spice up your Wednesday nights at Bushwackers!

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

Seth Winfree, assistant professor of pathology and microbiology at the University of Nebraska Medical Center, is one of the lead authors on a paper recently published in the journal Nature. The paper is paper is the result of efforts by National Institutes of Health funded consortia of researchers.

Northwest Bank has added Joel Spaan as private banking manager and vice president. Spaan graduated from the University of Iowa with a Bachelor of Science in Business Administration degree. Prior to joining Northwest Bank, he was a mortgage sales manager at Wells Fargo.

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

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.

Mr. Market has more mood swings than a two-year-old at bedtime. Last week I reported that the Gnomes detected a mood change in Mr. Market, from slightly mellow to slightly sour.

For the past several months Mr. Market hung on every jot and tittle coming out of the Fed. This week he found a new shinny bobble to focus on. Recent data shows that inflation has slowed down from warp speed to the pace of a college senior on the way to a fraternity party. So, Mr. Market forgot about the Fed and is now fixated on the CPI.

Wall Street has also found a new shiny object. For the past week, Kramer and his minions have been talking about the magnificent seven, which has replaced the FANG stocks as the bobble du jure. The magnificent seven is driven by a couple of newcomers, Tesla and Nvidia. Just in case you’ve been off playing pickle ball with your grandkids, Nvidia is a relatively new tech company that’s in the center of the China chip war.

For the first few months of the year, Cramer’s FANG stocks were driving the tech-heavy Nasdaq, and by the end of the May, the Nasdaq was up over 30%. Well, it seems that other guys, the magnificent seven, have infiltered the S&P so the by the middle of July, the S&P has risen over 15 percent. Sidebar comment: Moral of the story: attentive investors can benefit from Mr. Market’s mood swings by using index funds.

Also of note is the fact that Robinhood – an upstart Internet brokerage firm – has revised its business model to parallel that of the major three Internet firms. Robinhood started out as a platform for 30-somethings, living in their parent’s basement, to chase after stocks like GameStop. Then their revenues fell off the cliff when that dog stopped hunting. So, Robinhood has remodeled its approach and is going after the roughly $12 trillion in 401(k) and rollover IRA money. Moral of the story: More and more financial companies are abandoning the Wall Street paradigm and adopting the Internet broker DYI model.

Back to the Gnomes: moving forward they remain committed to their observation that Mr. market seems to be warming up a bit to the economic back drop. He seems to be convinced that odds of a catastrophic recession have diminished greatly. While they are not a predicting any major changes, they recommend that investors strap on their seat belts because they think that the rest of the summer might be a bit more volatile than normal. Stay alert or you might get gobsmacked.

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Have You Watched Grow O on Video Yet?

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

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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