Weekly Market Report – March 14, 2024

Mar 14, 2024 | 0 comments

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Restaurant & Retail Updates

Construction has started on 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.

Teriyaki Madness plans to open its first Nebraska location in the L Street Marketplace northwest of 120th & L Street. The Japanese fast food chain started in Las Vegas but is now based in Denver. It has more than 130 locations in 36 states.

Crumbl Cookies plans to open a Bellevue store April 5th at 10403 South 15th Street in Wolf Creek Plaza between Chipotle and Starbuck’s. The Utah-based cookie chain has existing locations at 168th & West Center Road, 156th & West Maple Roald and in Papillion at 72nd & Peters Parkway.

Nick’s Quorum Bar & Supper Club will officially open its doors for dinner and brunch on Tuesday, March 19 inside the Hilton Omaha Hotel at 10th & Cass Street. The menu features supper club classics such as oysters Rockefeller, signature roasted prime rib and Yorkshire pudding,

Interior construction is underway inside the former Wheatfield’s space at 12th & Howard Street in the Old Market. That’s where Clio will open later this year. The Mediterranean restaurant is a new concept from Omaha-based Flagship Restaurant Group.

Exterior signage is now in place for Let It Fly Sports Bar’s second Omaha location inside the former Barrel & Vine space near 204th & Pacific Street. Opening is planned for late spring. The 10,000 sq. ft. space will be able to seat 300 people.

Centi has opened in a corner space at 501 South 11th Street in the Old Market. The business describes itself as an “Artisan gelato and creperie in the heart of The Old Market.”

Vive Le Rock lounge plans to open this spring in a retail strip center at 12411 West Center Road in the Westwood Plaza complex. The lounge is “dedicated to the celebration of rock and roll.” Vive Le Rock won’t have live music, rather it will offer a “museum-esque experience with high-quality cocktails.”

Barnes & Noble will open a 12,000 sq. ft. bookstore in a former Best Buy space at Shadow Lake Towne Center in Papillion, according to ACCESS Commercial. As per usual, the store will include a B&N Café, serving Starbuck’s coffee. Interior construction is now underway. Barnes & Noble has an existing location near Oakview Mall.

Pandora plans to open a jewelry store at Village Pointe Shopping Center most likely this fall.

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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

Grow Omaha Eats with
Sarah Baker Hansen

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Review: At Everett’s, time, brine and custom sauces make the chicken wings stand out

By Sarah Baker Hansen

It’s a few minutes after six on a Wednesday, and Everett’s — one of the top spots in the city where Omahans suggested I should try chicken wings — is packed.

We scribble our name on the big chalkboard on the front wall and head next door to Brokedown Palace, the neighboring dive bar where the staff suggested we hang out with a beer until our names get called; we happily obliged. In spite of the crowd, a seat opened quickly.

Everett’s has the look and feel of your average Omaha neighborhood bar and grill, but a petite menu — wings, a few burgers, pulled chicken or pork sandwiches, a few appetizers and desserts — is surprisingly well executed, with high-quality ingredients and most everything, including all the wing sauces and hand-cut French fries, made in house.

It just happened to be “S’wing Wednesday,” which our server explained as a weekly special where diners can get ten smaller sized wings for ten bucks. The restaurant’s usual wing baskets come in a variety of sizes and include larger-sized wings; all those are also still available.

I later learned from co-owner Tyler Thiesen that the “S’wing” in “S’wing Wednesday” means “small wing.” The special came about, he said, because Everett’s takes the time to sort through all its wings by hand, separating them by size before brining them in a secret blend of spices mixed with apple cider vinegar and brown sugar for a little over 12 hours every night.

The smaller wings, still a satisfying size in my book, get sorted out and only served on Wednesdays to avoid food waste. And boy, is S’wing Wednesday ever popular.

We went for the special, ordering two baskets with the two sauces readers told me to try: Saucy Rossy and Bubba. The wings, as advertised, turned out to be pretty fantastic.

The Saucy Rossy, named after Ross Koley, the owner of Brokedown Palace and a close friend of Thiesen, is made with two thirds of the restaurant’s medium hot sauce and one third of its barbecue sauce, leading to a wing that’s a sort of sweet and spicy, with a rich undertone and vinegary burn that builds with each wing you consume.

“I have Ross saved in my phone as “Saucy Rossy,” and that’s where we got the name” Thiesen said.

The Bubba, another saucy hybrid, is named after the restaurant’s first customer, a neighborhood regular who has since died, but was known for calling everyone he met “bubba.”

The kitchen tosses the wings in medium hot sauce, grills them — aka “char buff” style — then dips the wings a second time in a chunky garlic parmesan sauce.

The result is deeply savory with plenty of garlic, cheese and fresh herbaceous flavor. I have to say, of what we tried, this wing was probably my favorite, one I’d return for.

Thiesen told me another thing the restaurant does differently with its wings is cook each batch from raw versus par cooking them ahead of time.

“They stay nice and tender right off the jump,” he said, “and stay really crispy.”

We had yet to try Everett’s classic hot wings, and though this review is certainly wing-centric, I was curious about the rest of the menu.

The Brussels sprouts on the appetizer menu might be one of the unhealthiest vegetables I have ever tried — and I mean that as a compliment. Fried to a brittle crunch, the lacy-edged sprouts are then tossed in a sweet-spicy honey glaze and topped with a savory, citrusy bacon and lime crema. I thought I was fairly over Brussels sprouts, but this dish made me like them once again.

The classic burger is solid. A thin ground chuck patty comes served sizzling hot with a slice of melted cheddar and a warm, brioche bun. Lettuce and tomato on the side are standard, but I appreciated the pickled onions, an elevated touch.

Let’s talk French fries for a moment: Everett’s hand cuts theirs, and the time and care is evident in each hot, crisp bite. Just fantastic.

The pulled meat sandwiches come with a choice of shredded pork or chicken, and Matthew ordered pork. A big pile of tender meat came topped with a crisp, crunchy slaw, a nice temperature contrast.

Thiesen said the pork gets braised in the oven overnight. Slaw is made to order so it stays crunchy versus going soggy.

“The size of our menu — smaller — allows us to put the focus on quality,” he said.

A final note on a basket of a half dozen classic wings with medium hot sauce: they aren’t as creative as the rest of the wings we tried at Everett’s. But they’re hard to argue with in almost every way: tender meat, spicy sauce, crisp edges, plenty of flavor.

“We like to think of it as chef-inspired, elevated pub food,” Thiesen said.

I get it.

Everett’s earns points across the board for creativity. The quality is high. The sauces are singular. The fries are fantastic.

But above all, their food (not just their wings) is made with care. For this writer, that’s always a standout.

Everett’s
https://everettsmaple.com

8807 Maple St.

402-237-7820

Hours:
Weds – Sun: 11a – 8p
Closed: Mon & Tues

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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NuStyle Development Plans to Convert Downtown Twin Towers into 700 Apartments

Central Park Plaza, the twin-tower office complex in downtown Omaha has bene sold and will be converted into one of the largest residential developments in the urban core.

NuStyle Develoment will redevelop the towers on 15th Street between Farnam and Douglas streets into “The Duo,” a massive apartment complex with 700 units. Sullivan’s Steakhouse will remain at its current location in the south tower’s main level. NuStyle hopes to replace the recently closed Starbuck’s with a new coffee shop.

Plans also call for demolishing the old Park Fair Mall located behind (west of) the twin towers (along the east side of 16th Street), and replacing it with a new city-owned parking garage with street-level retail space and 150 apartment units above.

The renovation will be completed in three phases, beginning with the south tower, followed by the garage and apartments to the west, and then finally, the north tower. It should all be finished by the end of 2027.

The project is valued at $163 million not including the cost of the garage.

“The streetcar is the reason we’re doing this,” said NuStyle Development president Todd Heistand. “The streetcar brings greater value to downtown development.”

Since the streetcar announcement in 2022, numerous urban core developments have been announced or started, including The Duo. Approximately $1.2 billion in new development is expected to be underway along the streetcar line by the end of 2024.

“High-value development along the streetcar route is exactly what we expected,” said Mayor Jean Stothert. “NuStyle has a reputation for quality and innovation. We are thrilled with their investment and expect more exciting development announcements on the streetcar route over the next few months.”

NuStyle plans to apply for $26.5 million in Tax Increment Financing. The Duo is located in the Streetcar District of the Urban Core Housing and Mobility Redevelopment Plan area. Therefore, 25 percent of the TIF revenue during the first 15 years will be contributed to the streetcar system. All TIF revenue generated during the last five years will be allocated to the streetcar.

Plans also call for $12 million in Property Assessed Clean Energy financing, a tool that enables commercial property owners to lower operating costs by improving energy efficiency and reducing water consumption in existing buildings.

The Duo is part of a larger plan to reactivate the area bordered by 14th, 17th and Farnam streets as well as Capital Avenue, creating “The Tower District.”

The 2022 Greater Omaha Chamber Urban Core Strategic Plan calls for 30,000 new residents in the urban core over the next 30 years. The Duo and other projects in the pipeline will enable the city to stay on pace to achieve that goal.

NuStyle plans one, two and three-bedroom, market-rate apartments ranging in monthly rents from $900 to $2,350. Because the apartments will be built in an existing building, and because the streetcar will reduce the need for some parking, Heistand says The Duo will offer some of the most affordable market-rate units in the downtown area.

NuStyle has developed multiple apartment projects in the urban core and overall occupancy in their buildings is 99 percent. Like other NuStyle buildings, The Duo will have amenities such as an elevated court yard, pools and rooftop views.

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Grow Omaha Snippets

Grow Omaha Snippets Sponsored by:

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The City of Omaha is considering a purchase agreement to buy a 4-acre property near 204th & F Street in the Iron Bluff subdivision to build a southwest library branch. The $1.8 million purchase price would be paid from the Advanced Acquisition Fund.

It would be the Omaha Public Library’s 14th location.

The proposed southwest branch is included in the city’s 2024-2029 capital improvement plan. The total cost is estimated to be $15 million. A schedule for design and construction has not yet been determined.

Omaha’s Henry Doorly Zoo and Aquarium was ranked the #1 Zoo in the nation by USA TODAY 10Best Readers’ Choice for the second year in a row. The zoo’s Lee G. Simmons Conservation Park and Wildlife Safari was named #1 safari park. The Desert Dome was named as the nation’s best zoo exhibit.

The Latino Economic Development Council and Canopy South expect $25 million in North-South Omaha economic recovery grants to start flowing to the Adelante project later this year, according to Nebraska Examiner. Located in South Omaha’s historic 24th Street business district, the Adelante project includes a major renovation and expansion of Plaza de la Raza at 24th & N Street as well as the construction of a multi-level parking garage.

St. Patrick’s Parish and MCL Construction celebrated a cross raising this week. That’s when workers installed the crucifix on top of the under-construction new church building on the northwest corner of Big Elk Parkway and West Maple Road.

Nebraska is the 4th least stressed state in America, according to Newsweek. The least stressed states are 1. North Dakota; 2. Utah; 3. Iowa; 4. Nebraska; 5. Minnesota. The most stressed states are 1. Tennessee; 2. Alabama; 3. Oklahoma; 4. Louisiana; 5. Nevada. More than a quarter of U.S. adults report feeling too stressed to function most days, according to the American Psychological Association.

The Omaha Airport Authority will be the recipient of $7 million in Community Project Funding/Congressionally Directed Spending with the passage of the Consolidated Appropriations Act of 2024. The funds will be applied toward the federal inspection services facility that will be part of Eppley Airfield’s $950 million terminal expansion. That facility will allow for the handling of international flights and the processing of international passengers by U.S. Customs and Border Protection.

“The opportunity for international flights at Eppley Airfield is one of the most exciting developments with the Build OMA Terminal Modernization Program,” said Dave Roth Chief Executive Officer for the Omaha Airport Authority. “For the first time in Nebraska history, passengers from Omaha and throughout the state will have access to nonstop international air service opportunities. We are appreciative of the ongoing efforts of Senator (Deb) Fischer and Congressman (Don) Bacon to enable this development with their support of air transportation and growth at Eppley Airfield.”

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

Business News

Local Business News Sponsored by FranNet of The Heartland:

The American Council of Engineering Companies will recognize 26 HDR projects with national awards. The projects represent a wide range of disciplines and regions across the United States.

Category One Consulting has been named as the Greater Omaha Chamber’s March business of the month.

Sower Investment Partners has leased 13,963 sq. ft. at Regency Landing northeast of Interstate 680 & Pacific Street, according to ACCESS Commercial.

Dodge Cares hosted a check presentation last week. More than $80,000 was presented to 15 local nonprofits. Dodge Cares is a charitable organization founded in 2002 by agents of NP Dodge Company. The contributions provide food, shelter and comfort to homeless, displaced and abused individuals in Nebraska and Iowa. Each NP Dodge sales associate and employee donation is matched up to $250 by the NP Dodge Company.

Oak Investment Real Estate finalized the sale of 3703 Davenport Street, a 60-unit multifamily complex. Situated in Midtown, this 56,376 sq. ft., mid-rise was renovated in 2012. The property sold for $4,750,000, averaging $79,167 per unit.

The Greater Omaha Chamber is recognizing outstanding businesses and individuals for their innovation, leadership and philanthropy in the community. You can make your nominations for the Chamber’s Business Excellence Awards by March 31st HERE.

Business Travel – The cost of the average domestic business trip – airline tickets, hotel stays and rental cars – has risen to $1,446, according to Steve Glenn of Lincoln-based Executive Travel. That’s an increase of 11 percent since December of 2023.

The latest U.S. inflation data is in. The numbers were higher than expected in February, up 3.2 percent year over year, according to The Hustle.

Consumer spending bounced back in February from a January dip, with a little help from leap day, according to CNBC. But sales still registered good gains even after correcting for that extra spending day. The CNBC/NRF Retail Monitor, derived from actual credit card spending data, rose 1.06% in February, when excluding autos and gas. It increased 0.95% when taking out restaurants as well, the Retail Monitor’s core measure.

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

Good leaders admit when they make mistakes and then move on to what’s next. Doing this shows your employees/colleagues that you’re human and open to improvement. It gives you credibility the next time you have to take charge and push people to get things done.

Here are three ways to boost your motivation and achieve goals, according to Mark Travers’ recent Forbes article: 1. Nail down the “what” and “why” of your goals clearly; 2. Reward yourself wisely; 3. Imagine the journey, not just the destination.

Demand for workplace etiquette training has surged over the past two years as companies grapple with the fact that some employees brought their at-home habits back to the office and others had little experience in a professional setting in the first place, according to CNN. More than 60 percent of companies plan to implement etiquette courses for staff this year.

In order to avoid interruptions at the office, some workers are resorting to fake Zoom meetings, according to Fortune. Some will even play recorded videos of random meetings on their monitors so co-workers will think they’re busy.

SALES

When leaving a voicemail for a cold prospect, shorter is better. Try not to go over 30 seconds. One study even showed that messages under 14 seconds are the most effective.

What are the first things you should do when you get an objection from a prospect? Do not panic. Do not get emotional. Do not get irritated. Do not get defensive. Do not deviate from your game plan. Do not slam the door.

The BragBird online sales training program gives you an edge when competing for new business. There are 40 modules, each a different topic with 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 ambitious, click HERE now!

WISDOM

“Before you embark on a journey of revenge, dig two graves.” – Confucius

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Did You Know?

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

This section is sponsored by Lockbox Storage.

Did you know downtown’s Hilton Omaha Hotel is the largest hotel in Nebraska? It has 600 rooms and is attached via skywalk to the CHI Health Center Omaha.

Did you know The Boys Town choir recorded an album with the Everly Brothers in 1962?

Did you know the University of Nebraska Medical Center received $173.4 million in research grands in 2022-23?

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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The Official Lucky’s St Patrick’s Day Bar Crawl on March 16th: Grab your leprechaun, shamrock, pot of gold and crazy St. Patrick’s Day costumes and get ready to shamrock ‘n roll! Crawl through some of Omaha’s favorite bars in your best green outfit in celebration of St. Patrick’s Day! Your ticket includes two free drinks, merch, exclusive drink specials and access to an awesome after party. Reserve your tickets now!

Art Battle Omaha on March 16th: Get ready to witness an electrifying showdown as skilled artists go head-to-head in a high-speed, three-round battle to create awe-inspiring artwork right before your very eyes! Audience members will play judge and jury and cast your vote for the ultimate winner! As the night unfolds, all of the stunning artwork produced during the competition will be up for grabs in an exclusive auction. Come out for a memorable night of creativity and community!

Millwork Conversations Presented by Google | Civic Engagement Panel on March 19th: Learn from people across communities right here in Nebraska and across the country about new ideas and what’s possible – how to push past real and imagined boundaries. In March, Millwork will discuss the importance of civic engagement with a talk moderated by Jo Giles of Women’s fund. Joining her are Panelists Brad Christian-Sallis of Nebraska Table, Kimara Snipes of One Omaha and, Dr. Lina Translaviña-Stover of Heartland Workers Center. Join the community in a conversation about civic engagement!

Elevator Essentials: Powered by AltCap | Cash Flow Tools & Strategies on March 20th: Elevator Essentials – Powered by AltCap is a series designed to offer practical insights and best practices on essential subjects that small business owners need to know to run and operate a successful business + enjoy a day of FREE coworking! This month’s speaker features Steve Johnson, AVP Business Banking with Cobalt Credit Union. He will be talking about Cash Flow Tools & Strategies for small businesses. Come ready to learn and enjoy the free lunch and drinks!

Vishal Singh’s Journey Creating & Selling Quantified Ag on March 21st: Join others at Scale Omaha, the premier monthly meetup for startup founders, investors, and talent in the Omaha-Lincoln area. This month will feature an exclusive interview with Vishal Singh, the visionary founder and former CEO of Quantified Ag, a trailblazer in precision livestock analytics that was recently acquired by Merck Animal Health. Learn about the knowledge and success of local entrepreneurs while networking with others in the Omaha community.

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 The Greater Omaha Chamber

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digital rendering of Flatiron District project buildings

NP Dodge Real Estate has welcomed new residential sales associates including Akeydra Hagens, Jennifer Hurt, Tiffany Moscato and Gwen Pfeifer.

Erickson Sederstrom has added attorney Callie Williams to its estate team. She is a graduate of the University of Nebraska Omaha and the University of Missouri-Kansas City School of Law, where she graduated with honors.

Security National Bank has hired Adam Triplett as senior vice president and director of commercial banking operations. He will lead treasury management operations, loan operations, marketing and human resources to enhance the end-to-end experience for our commercial banking customers.

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.

Wall Street: The Week in Review

Commentary by 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.

The topic for this edition of my incredibly insightful commentary is Nvidia. It is impossible to discuss the stock market without this major A.I. stock being part of the conversation. It is in both the S&P 500 and Nasdaq, and both are weighted by market cap.

Nvidia’s $2.16 trillion market cap translates to 6.8% of the market. And thus, to paraphrase Pogo – as Nvidia goes, so goes the market.

As I make my daily travels through the investing universe, I’m getting an ear full about how Nvidia’s dominance will crush the market when its valuation returns to a rational level. Au contraire mona mi! This type of market dominance is nothing new.

This nefarious form of silliness has been going on for over 75 years. Back in the 50s and early 60s, there were three companies that dominated the market. Those stocks were AT&T, Dupont and General Motors. In 1959, General Motors was up 78 percent in six months and amounted to a little more than 10 percent of the total value of the S&P 500. Sixty three percent of the American families owned AT&T, not individually, but through varies types of retirement plans.

I am also hearing – mainly from ill-informed investment professionals – that one way to avoid this pending catastrophe is to buy one of the new bastardized versions of the S&P that weights all 500 stock equally, not by market cap as the virgin form does. The point these ill reputes are missing is that, were Nvidia to fall out of favor of the algorithm traders and hedge funds, the initial impact would – as the Wall Street ne’er-do-wells have correctly surmised – result in a drop of both the S&P and Nasdaq indexes.

But, this decline would also cause Nvidia’s market cap to fall, and eventually other stocks that are on the rise would take over as the new markets movers. We know that the market caps, and thus their index weightings are adjusted on a regular basis. We just are not notified the moment they occur.

The important takeaway is that if you are an index fund user, you don’t have to be the blind squirrel that finds an acorn. You don’t have to play the lottery and pick the winners. The funds do it for you. And on the downside, when the old winners falter, the index fund picks the new winners for you.

FOOTNOTE: A prominent Wall Street professional spent hours examining Nvidia’s balance sheet and told CNBC views that the stock price is WACKY!

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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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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