Weekly Market Report

Nicole Buntgen, Contributing Writer

Ghost Donkey and Châm Pang Lanes, two concepts from Omaha-based Flagship Restaurant Group, are coming to the Brickline at the Mercantile building near 10th & Harney Street. Both will open just east of Memoir, another Flagship concept that recently opened. Ghost Donkey is a tequila bar described as, “Mezcal, tequila and mucho good times.” Châm Pang Lanes is a duckpin bowling entertainment venue described as, “A little bougie but not too serious.” Target opening dates are set for this summer.

Inkwell, a cocktail bar at 8716 Pacific Street in Countryside Village, plans to open a Chicago location. According to What Now Chicago, Inkwell recently filed a permit for a space at 1039 West Lake Street in Chicago’s Fulton Market neighborhood.

Stories Coffee plans to open a stand-alone, drive-thru location in the former Blend Food Hall building at 10710 Q Street. Opening is planned for early July depending on weather and permits.

Little King Deli & Subs plans to open this spring at 144th & West Dodge near Mahogany Prime Steakhouse in Heartwood Preserve, according to Lockwood Development, which is building out the space. Equipment installations and exterior signage are currently in the works, with an official opening date yet to be announced. Little King currently has six Omaha locations.

Dumpling Empire, a Chinese food concept, has signage up at 5413 South 72nd Street in the former Frank’s Pizzeria location in Ralston. An official opening date has yet to be announced.

A Foreign Taste, a fine-dining restaurant at 14242 Fort Street, will transition to an events-only venue starting June 2nd. To kick things off, the restaurant will host its first pop-up event with James Beard-nominated Chef Clayton Chapman on May 31st and June 1st. The six-course culinary event will be for reservations only.

The Table Coffee Co. recently opened its new location at 1122 Howard Street in Stokes’ former Old Market space. The relocated coffee shop features a larger space and serves a food menu that includes breakfast, sandwiches, desserts, soups and seasonal salads.

Aldi plans to open a Papillion grocery store at 9549 South 71st Street just northeast of 72nd & Cornhusker. A “sneak-peek” opening is scheduled for May 22nd. The grand opening is May 23rd.

Signage has gone up for Little Sunshine’s Playhouse & Preschool at 5560 South 202nd Avenue near the Coventry Development. The private preschool organization recently opened its first Omaha location in January and serves the Elkhorn, Millard and Gretna areas.

Red Lobster suddenly closed dozens of locations nationwide recently including a Council Bluffs location at 3040 Dial Drive. The Omaha locations remain open.

The Nebraska Beef Council has released its 2024 Nebraska Beef Passports, packed with more than 50 participating locations. Now through September 30, users can explore various beef offerings at restaurants and meat shops, receive exclusive offers, and earn points to win grand prizes from the council. Some participating Omaha businesses include Husker Meats and both Bronco’s Hamburgers locations.

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

Project Development Updates

Today we highlight two developments, one in Omaha and one in Council Bluffs, for this week’s Big Story.

Children’s Nebraska

Elected officials, local dignitaries and representatives from Children’s Nebraska held a topping-out ceremony today at the future Behavioral Health & Wellness Center at Children’s Nebraska. Topping-out occurs when the final steel beam is lifted into place.

The $110 million, 4-story building is under construction on a 7-acre site south of 85th & West Dodge Road on the western edge of Children’s Nebraska’s campus.

When it opens in early 2026, the 107,250 sq. ft. building will have 38 inpatient beds plus an experiential kitchen for youth and families dealing with eating disorders as well as 14,000 sq. ft. for general outpatient therapy and a crisis screening and stabilization assessment hub.

The need for more mental health services for area youth is clear and sobering, according to Children’s Nebraska. Even before the onset of COVID-19, one in five children was experiencing a mental illness, and the pandemic has led to

increased mental health challenges and suicide risk among children.

Nationwide, mental health-related emergency room visits are up 24 percent among children ages 5 to 11 and 31 percent among those 12 to 17 years old. Suicide is now the second-leading cause of death for youths, and Nebraska

exceeds national trends for number of suicide deaths in adolescents ages 15 to 19.

Council Bluffs Data Center

A new data center is planned for a 91-acre greenfield site on the southeast corner of Kanesville Boulevard & College Road in Council Bluffs.

Last week, Grow Omaha reported that Council Bluffs had plans to extend sewer service to that area. According to planning board documents, the developer appears to be Edged Energy, a subsidiary of sustainable infrastructure company Endeavor. The project is part of a recent North America rollout of Edged’s data center concept that utilizes power efficient, zero water technologies.

Earlier this year, Edged announced its initial launch sites including Chicago, Kansas City, Atlanta and Phoenix. The Council Bluffs project will be completed in collaboration with MidAmerica Energy, which will build a new substation on the property. Two 80-foot-tall, 450,000 sq. ft. buildings are planned for wholesale data center use.

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Isaiah Ang, Contributing Writer

Omaha Streetcar Authority approved the procurement of six modern streetcars to CAF USA, Inc. for $41 million. An additional approved $6.5 million will cover the cost of spare parts and special tools. CAF is a Spain-based manufacturer of vehicles for the tram and railway market, including modern streetcars used in Kansas City and Cincinnati.

Additionally, the streetcar authority approved procurement of items that require long lead times. These items include traffic signal equipment, bridge girders for the Harney Street bridge and special rail. These items have lead times ranging from six to 24 months and will cost a total of $5.8 million.

An event center space at 1002 Dodge Street will find new life as Capitol Arcade, a new bar and arcade concept from the owners of Fat Putter and Prehistoric Putt. The 8,000 sq. ft. arcade is scheduled to open in July. The same company plans to open a new Prehistoric Putt location in the former Nobbies location near 120th & West Center Road this September.

Omaha Public Power District, in collaboration with Google, has secured 600 megawatts from a Kansas wind farm managed by NextEra Energy Resources. OPPD is experiencing unprecedent demand and growth. Earlier this year, OPPD shared plans to add 2.5 gigawatts of power over the next decade. This year alone – not including this wind power contract – OPPD expects to add 700 megawatts of additional peak capacity when they bring Platteview Solar, Turtle Creek turbines and Standing Bear Lake station online.

Backline Comedy Club at 1618 Harney Street in the Keeline Building, is seeking approval for a sidewalk patio. Since acquiring the building, Shamrock Development has made multiple updates and leased a first-floor corner space to the UPS Store. While some downtown office buildings are being converted to residential use, the Keeline will have private office suites on the upper floors.

The pickleball courts at the Riverfront Parks, previously announced by MECA, are still in the works, according to the Omaha World Herald. Due to the location of the proposed courts, MECA is waiting on permits from the Army Corps of Engineers. The site is located just north of the Kiewit Luminarium and west of the sand volleyball courts. It will be home to three fenced-in pickleball courts, additional seating and shade trees.

Lynch Park will be the site of a new skate park. The City of Omaha awarded a design and construction contract to Bloomington, Ind.-based Hunger Skateparks, which has completed projects in several states, including the Skate Spot in Omaha’s Millwork Commons. The $150,000 cost will be paid by ARPA funds.

District 66 plans to demolish the existing Westgate School building at 7802 Hascall Street to construct a new building. The original facility was built in 1957 and rebuilt following the May 6, 1975 tornado.

Pipal Park Community Center was built as an addition to the school as part of the rebuilding. Over time, the community center has been used more for school activities. The City of Omaha approved conveyance of the community center to District 66 for $170,000. The district will demolish the community center as part of the new construction of Westgate School.

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Omaha’s April Real Estate Numbers

By Joe Finlay

How does Omaha’s spring real estate market compare to previous years? Is the market still as competitive as it was a few years ago? Let’s take a look.

Existing Homes in Douglas and Sarpy Counties

The median sale price for April 2024 was up 7.7 percent compared to April 2023 at $297,950. This number typically peaks every summer and falls during the winter months.

Sellers are enjoying the climbing prices. Both pending and closed sales are up over last year, suggesting that buyers are willing to pay a premium for an existing home.

However, buyers may not have as much competition as previous years. The number of homes on the market has increased significantly since last year, slowly improving the extremely low supply of homes that we experienced in 2020-2022.

New Construction in Douglas and Sarpy Counties

The median price for new construction is growing at a slower rate than existing homes. With a 2 percent increase over last year, the median sale price is $456,486.

The supply of new construction homes has remained steady over the past year, hovering around six months of supply available. This is a healthy number and represents a more even market for buyers and sellers.

Bottom Line

We’re having a healthy spring market. Homes are selling fast when they are well maintained. For those buyers looking for a “deal,” they can be found with some homes sitting on the market a little longer than the past few years. Let’s connect and talk through your next real estate decision.

Grow Omaha Residential is developed and sponsored by Joe Finlay, REALTOR with NP Dodge Real Estate.

LEADERSHIP & MANAGEMENT

Contrary to popular opinion, multi-tasking doesn’t work, particularly when a salesperson is learning a new skill or attitude. It has nothing to do with IQ, it has everything to do with how the brain works, writes Colleen Stanley of SalesLeadership Inc. The prefrontal cortex is charged with learning new information, but this part of your brain can only concentrate on one thing at a time.

“When what you have done no longer works, reality shows no mercy, requiring you to give up your preference and move forward,” says business author Anthony Iannarino. As a leader, you can’t afford to be too sentimental about the status quo.

Gen Z is the generation most eager to work in person, connect with coworkers, and chat. In fact, it can sometimes even go beyond chatting, and turn into “yapping,” according to Fortune. What defines “yapping?” Speaking for long periods until the other person loses interest,

Three-quarters of surveyed Americans would ideally live close to their moms, according to Realtor.com. Forty-seven percent of American adults have moved or plan to move either themselves or their mom to be closer to one another.

The University of Michigan’s consumer sentiment index in May fell to 67.4, the lowest level in six months as Americans cited stubbornly high inflation and interest rates, as well as fears that unemployment could rise, according to Associated Press.

SALES

If you’re a persuasion-based seller, you believe your job is to change the minds of your buyers to buy your product, according to author Andy Paul. If you’re an influence-based seller, your job is to first understand your buyers and then help them make up their minds about how to solve their problem and achieve their desired outcomes.

Eighty-two percent of B2B decision makers think sales reps are unprepared, according to HubSpot.

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

“Success is not final and failure is not fatal.” – Winston Churchill

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Did you know the Omaha’s Henry Doorly Zoo and Aquarium’s largest mail silverback gorilla eats nearly 15,000 pounds of greens per year? That’s just greens, by the way. He ate a lot of other things too.

Did you know Boys Town was named a National Historic Landmark in 1985?

Did you know that U.S. News recently ranked Nebraska as third best state in America? Here are the top five states in the 2024 Best States Rankings: 1. Utah; 2. New Hampshire; 3. Nebraska; 4. Minnesota; 5. Idaho.

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Little Bohemia Spring Market on May 18th: Join others to celebrate the arrival of Spring in Little Bohemia on Saturday, May 18th! Indulge in delicious offerings from food trucks and a Mobile Wine Bar, explore unique shopping opportunities, and take advantage of special promotions throughout the neighborhood. Vendors will be conveniently located at participating businesses near South 13th Street in Little Bohemia.

Springfest Art & Craft Show on May 18th: Checkout Springfest and shop more than 70 local artists and crafters! Shop handmade goods including jewelry, pottery, glass, wood, photography, paintings and more. Bring the family and enjoy lunch on the plaza from 11 a.m. to 2 p.m. with Pasta Amore and Pulled BBQ or grab a snack at one of our many snack vendors. There will be live music on the plaza from 12 noon to 4 p.m., plus Anthony the Balloon Man and a face painter will be there to entertain the kids.

Wednesday Night Workouts on May 22nd: The Wednesday Night Workout Series offers a free midweek outdoor workout, sponsored by Methodist Health System and led by licensed instructors from Genesis Health Clubs. Workout types vary from week-to-week, including popular favorites like Zumba, Pound and Mixxed Fit. Attendees are welcome and encouraged to bring a water bottle and blanket or mat. This event is free and open to the public.

Elevator Essentials | Simple Steps to Acquiring More Customers on May 22nd: 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! Ali Schwanke, Founder of Simple Strat, will be discussing how to attract and retain more customers with straightforward, effective strategies that work. This workshop will guide you through practical, easy-to-implement steps designed to enhance your customer base without overwhelming your schedule or resources.

Whatever Happens on May 23rd: Don’t miss comedy legend Bill Frenzer’s return from L.A. with his debut one-man show, “Whatever Happens,” at the Blackstone Theater. Combining free-form improv, music and random half-truths, each performance promises a unique, zany experience. Join in for a night of laughter and unpredictable fun!

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.

NP Dodge Real Estate has welcomed new residential sales associates including Emily Haynes and Ken Begg.

Walentine O’Toole, LLP has added attorney Aaron F. Smeall as a partner in its commercial litigation and creditor’s rights practice groups. Smeall holds a law degree from Creighton University, and a bachelor’s degree from the University of Nebraska.

College of Saint Mary has promoted Pamela Humphrey to associate vice president of assessment and institutional effectiveness, starting June 1. She previously was the associate dean for arts, sciences and professional studies.

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.

Last week I was watching CNBC. They were in having a mind-numbing discussion about what the Fed has done, what the Fed has done wrong and what the Fed should do next. In the middle of this drivel, I heard the head of market research for a prestigious Wall Street firm (I won’t denigrate them by disclosing their name) – utter the dumbest thing I have heard in my six decades as a market watcher. In response to the Fed’s latest pronouncement to hold rates steady, he said, and I quote, “THE MARKET GOT IT WRONG!”

Allow me to calm down a bit before I continue. Okay, I’m calm now. How can the market get it wrong? That’s akin to saying that GOD got it wrong when he made flamingos because he put the legs on backwards. NOT! That’s the way he wanted them.

In order to buy into the fancy schmancy research guy’s statement, you have to begin with one wild-ass assumption. You have to assume that there’s a one-to-one connection between the economy and the stock market. And further that all of the major participants in the stock market agree with this assumption.

So, if interest rates move 25 basis points, the market will get out its calculator, run the numbers, and move the S&P 500 in an amount equal to 25BP. I defy you to show me any time that this has occurred. An even bigger question is, if the Fed raises rates, is that a good thing or a bad thing? Sometimes the market says, “yes,” and sometimes it says, “no.”

Ben Graham is the father of value investing, the foundation for the prognostications that Cramer and his brown-nosers dump on the investing public every day. In his 1940s investment classic, The Intelligent Investor, Mr. Graham introduces investors to Mr. Market. An emotional investor who on a daily basis offers to buy and sell stocks at ridiculous, non-nonsensical prices. In the chapter following his discussion of Mr. Market, Graham advises investors to do their own homework and take Wall Street’s predictions with a grain of salt.

So, who is right and who is wrong? The answer is YES!

For 250 years, Wall Street has made a comfortable living using the fancy schmancy research guy’s line of reasoning. There are investors who feel right at home under their guidance. That’s well and good. But there are 70 million Internet Investors who own $14 trillion worth of index funds that are held at discount brokerage firms who are equally at home following their own advice. Their motto is “Forget the needle buy the haystack.”

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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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