Weekly Market Report

May 30, 2024

Brought to you by:

Eagle Mortgage logo
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

Nicole Buntgen, Contributing Writer

Cumbia, a locally owned tapas bar and bistro that closed in November, is reopening its downtown location next week at 329 South 16th Street. Cumbia originally opened in fall of 2021.

Orange Leaf Frozen Yogurt, a self-serve frozen yogurt franchise, is coming soon to the Holiday Inn Express building at 1420 Cuming Street next door to Burger Theory. Existing metro area locations are at 72nd & Pacific Street and 168th & Burke Street. Orange Leaf describes itself as “More than just Froyo, it’s a place where you can express your flavor freedom and enjoy a delicious treat with your friends and family.” An official opening date has yet to be announced.

El Milagro Mexican Bar & Grill, the latest tenant in Pepperwood Village, officially opened its bar on Monday. The modern Mexican restaurant opened on May 7th at 531 North 155th Plaza and is owned by Javier Trujillo, owner of several Omaha restaurant concepts. The full bar menu includes a selection of margaritas, Jarritos soda, house-made horchata and agua fresca, among other things.

Macadoodles Fine Wine, Beer & Spirits has opened its first Nebraska or Iowa location yesterday at 3409 South 72nd Street in the MH Landing development. The Missouri-based retail chain has 11 existing stores in Missouri and Arkansas. Each store is stocked with 4,000 wine labels and 600 beer varieties.

D’Leon’s Taco Rico opened a new location at 3021 South 84th Street this week, according to leasing broker Ed Petsche of NAI NP Dodge. The quick-serve Mexican restaurant chain is preparing to open yet another one in mid-June in the former Green Beans Coffee space at 3512 Samson Way in Bellevue.

Smash Park, Omaha’s newest “eatertainment” facility, will officially hold its grand opening and ribbon cutting on June 27th at 8121 South 125th Street in La Vista. Attendees can expect pickleball, axe throwing, cornhole, duckpin bowling, karaoke suite, plus prizes and drawings throughout the evening.

Little King Deli & Subs officially opened its Heartwood Preserve store earlier this week southwest of 144th & West Dodge Road. The Omaha-based restaurant chain was founded in 1969 and now has seven metro area locations.

Spencer’s Gifts plans to open a store next to Famous Footwear at Metro Crossing in Council Bluffs, according to The Lerner Company. Spencer’s also has a location at Westroads Mall.

Costco Wholesale will officially open its third Omaha-area store at 8 a.m. on Friday July 12th at 180th & West Maple Road. The exact address is 17701 Evans Street.

For the second consecutive year, Coneflower Creamery has been nominated as one of 20 independent ice cream shops nationwide for USA Today’s 10Best list. Last year, the local shop finished in fifth place. As of May 29th, Coneflower was in second place. Votes can be cast once per day now through June 10th.

Tanner’s Bar & Grill will permanently close its location at 17330 West Center Road on June 10th. Early Bird will take the space and open a breakfast-and-lunch restaurant. It will be Early Bird’s fourth Omaha-area location. The Tanner’s locations near 119th & Pacific Street and 156th & West Maple Road will remain open.

“Late Nights at the Zoo” has officially kicked off at the Henry Doorly Zoo and Aquarium. The summer series event is for adults 21 years and older and will be held on select Thursday nights from May through August. Attendees can expect more food trucks, themed nights, and live local bands this year.

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

The Big Story

Brought to you by:

image of a beautiful home with a landscaped yard and curved driveway to highlight the street of dreams
Photo Above: Omaha’s Henry Doorly Zoo and Aquarium was named the best attraction in Douglas County for 2024

The public cast a record-breaking 24,576 votes in this year’s Omaha Metropolitan Area Tourism Awards, recognizing the best tourism businesses in Douglas, Sarpy and Pottawattamie counties. Votes determined winners in four categories: Best Hotel, Best Restaurant, Best Attraction and Best Retail Business. The winners and runners-up for 2024 are:

Douglas County

Best Attraction:

  • Winner: Omaha’s Henry Doorly Zoo & Aquarium
  • Runners-up: Kiewit Luminarium and Boys Town

Best Hotel:

  • Winner: The Farnam, Autograph Collection
  • Runners-up: Kimpton Cottonwood Hotel and Moxy Omaha Downtown

Best Restaurant:

  • Winner: Greek Islands Restaurant
  • Runners-up: Yoshitomo and V. Mertz

Best Retail:

  • Winner: Made in Omaha
  • Runners-up: Prairie in Bloom and Nouvelle Eve

Sarpy County

Best Attraction:

  • Winner: Schramm State Park Education Center
  • Runners-up: Sarpy County Fair Grounds and Gifford Farms

Best Hotel:

  • Winner: Embassy Suites by Hilton La Vista
  • Runners-up: Courtyard by Marriott La Vista and Hampton Inn & Suites La Vista

Best Restaurant:

  • Winner: Sweet Rice Thai Food Express
  • Runners-up: Good Life Sports Bar & Grill-Gretna and Luigi’s Italian Restaurant

Best Retail:

  • Winner: Main Street Decor and More
  • Runners-up: Robin’s Nest and Town & Country Floral

Pottawattamie County

Best Attraction:

  • Winner: Mt. Crescent Ski Area
  • Runners-up: Phoenix Movie Theater and Hoff Family Arts & Culture Center

Best Hotel:

  • Winner: Holiday Inn Hotel & Suites @ Ameristar
  • Runners-up: Hilton Garden Inn and SpringHill Suites

Best Restaurant:

  • Winner: Pizza King
  • Runners-up: The Buck Snort Neola and Minden Bowl Cafe

Best Retail:

  • Winner: The Unique Boutique Iowa
  • Runners-up: Bev’s Porch and The Olive Branch

The Tourism Awards are presented in partnership with the Council Bluffs Convention & Visitors Bureau, Sarpy County Tourism and Visit Omaha.

This section is sponsored by RENZE. For over 129 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 like helping brands grow. Click HERE to see our work for the new headquarters of CQuence Health!

Grow Omaha Snippets

Grow Omaha Snippets Sponsored by:

Midtown Crossing Logo

Isaiah Ang, Contributing Writer

Shadow View Village, a mixed-use development, is planned for the greenfield northeast of 200th Street & West Center Road. Plans call for a 240-unit apartment complex plus office and retail space, including a freestanding daycare building. A unique feature of the development will be 40 additional residential units located on the second floor above some of the commercial space.

A developer plans to subdivide 9402 Pacific Street for residential development. The 2-acre site currently has a single-family residence and private tennis court. That will make way for a new cul-de-sac off Pacific Street and eight residential lots, ranging from 8,000 to 10,000 sq. ft. The future houses will average about 2,600 sq. ft.

The City of Omaha Planning Board will review a plat for a new subdivision north of Bondo Street & Skyline Drive that will be known as Blondo Point. The land is located just south of Ta-Ha-Zouka Park. The developer is planning for 379 residential lots of single-family and duplex-style housing and will agree to contribute $100,000 to the city for improvements to the nearby Greenbrier Park.

The City of Gretna officially opened its new water park this week. The 75,000 sq. ft. facility includes large tube slides, a lazy river, splash pad and climbing wall among other amenities. The water park is part of the $60 million, 157-acre Gretna Crossing Park that opened in 2023 featuring several sport fields, trails, a dog park and a YMCA facility.

The Big Ten Conference announced this week that its conference baseball tournament and championship game will remain at Charles Schwab Field Omaha through 2027. The 2024 tournament took place this past weekend with the University of Nebraska winning this year’s championship.

U.S. News ranked Omaha as the 18th best place to live in 2024 among the 150 largest cities in the United States. The study factored each city’s desirability, job market, cost of living and quality of life. The top five were Naples, Fla.; Boise, Idaho; Colorado Springs; Greenville, S.C.; and Charlotte, N.C.

The City of Omaha has completed the final draft of its Connect Omaha: Active Mobility Plan. It provides vision to guide the city, developers and transportation providers in developing a more comprehensive active mobility network throughout the city. Active mobility includes traditional modes like walking and bicycling, but also incorporates more recent trends like the usage of electric scooters in the urban core.

The plan identifies priority corridors based on data related to demand and usage. Additionally, it provides the city and developers design standards that incorporate pedestrian and bicyclist-friendly infrastructure when opportunities arise to build new streets and sidewalks or reconstruct existing infrastructure. The plan can be reviewed HERE.

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

Business News Sponsored by:

Midtown Crossing Logo

Exterior signage is now in place, and construction of Lovely Skin’s new distribution center is nearing completion in Gretna, according to Schemmer, which designed the building. The 75,000 sq. ft. warehouse is located near 210th & Interstate 80, south of Nebraska Crossing.

The Omaha Local Market (formerly known as the Omaha Flea Market) has returned to Westroads Mall for its second season. The market takes place the first two Saturdays of each month, May through September, in the parking lot near the FLAGSHIP COMMONS entrance.

Harbor Freight plans to open a store this summer at 1502 Harland Drive in Bellevue Plaza, according to Bellevue Times. It will be the second Harbor Freight location in Sarpy County and 10th in Nebraska.

Greco PT & Armcare, an out-of-network physical therapy business, will host its grand opening on June 6th at 9840 South 168th Avenue, Suite 1. The business specializes in overhead athletes and blends physical therapy with throwing exercises to help address underlying pain issues.

NUSO, an omnichannel provider of cloud communications and collaboration solutions, has partnered with Omaha-based McCarthy Capital to accelerate growth. The recapitalization signed and announced in April has officially closed after satisfying customary regulatory approval. Members of NUSO’s senior management are investing alongside McCarthy Capital while BMO continues as the company’s debt provider.

Nebraska’s unemployment rate was 2.5 percent in April compared to 3.9 percent nationally, according to Nebraska Examiner. Nebraska’s unemployment rate is the fourth lowest in the nation, with North Dakota, South Dakota and Vermont recording lower rates in April.

The Greater Omaha Chamber has announced winners of this year’s Business Excellence Awards in the philanthropy category: ACCESSbank, First Interstate Bank, Fusion Medical Staffing, Holland Basham Architects, Metropolitan Utilities District, and Nebraska Furniture Mart.

Companies across the country are barreling toward a refinancing cliff that could cost them billions in the new era of high interest rates, according to Fox Business. Companies that refinance between this year and 2030 will pay an additional $381 billion in interest costs due to elevated borrowing rates. This amounts to the largest single increase in debt-related costs and the highest cumulative interest payment total ever faced by U.S. companies.

The U.S. Transportation Security Administration set a new record for most travelers screened in a single day last Friday, according to CNN. More than 2.95 million passed through airport checkpoints.

At Top Gun Painting, we pride ourselves on quality, craftsmanship and knowledge of the trade. For 39 years, we have committed ourselves to top-notch quality in the commercial/residential painting industry. There’s no job we can’t handle and assure satisfaction. We have an exceptional trade name and dedication to each and every client. We look forward to helping shape the future of Omaha and put color in lives… Let us serve you! 515.225.6663

Grow Omaha Residential

How do Omaha Home Prices Compare to Other Cities?

By Joe Finlay

Every quarter, the Federal Housing Finance Agency publishes a list of the top metro areas and the change in their median house prices. Over the past few years, we’ve seen some cities in the mountain states – Idaho, Colorado and Utah – top this list with prices increasing substantially. We’ve also seen some of the big cities – Chicago, Philadelphia and San Francisco – at the bottom of the list with low year-over-year gains.

In contrast, Omaha often is in the middle of the pack with modest gains year-over-year, avoiding years with low gains. This can be attributed to our strong economy.

According to the FHFA, Omaha currently ranks 52nd out the top 100 markets with a year-over-year median price increase of 6.8 percent. The top five cities are Allentown, Penn.; Charleston, S.C.; West Palm Beach, Fla.; Bridgeport, Conn.; and Rochester, N.Y. All five cities saw year-over-year price increases greater than 13 percent. Often when we see cities at the top of the list one year, we’ll see them fall to the bottom of the list at a later date because those high gains are tough to sustain.

The five cities at the bottom of the list are Sarasota, Fla.; San Francisco; New Orleans, La.; Fort Meyers, Fla; and Honolulu, Hawaii.

Since 2012, the national median house price has increased at about 7.5 percent per year.

Bottom Line

While greater Omaha’s rate is 6.8 percent per year, each zip code and neighborhood can be different. Let’s connect to talk through the prices in your neighborhood and see how they compare to previous years.

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

Grow Omaha University

Leadership & Sales Insights for Ambitious People

Compiled by Grow Omaha co-founder and sales trainer Jeff Beals.

Sponsored by Dundee Bank


Narcissism is often a hazard for CEOs, who are three times as likely as the general population to score highly for the trait in personality tests, according to Fortune. Narcissistic leaders often take big risks, demand loyalty, have flimsy ethics and regularly invite protracted lawsuits.

Dallas Mavericks owner mark Cuban wanted staff members to know there was no job he wouldn’t do, so he sat with the equipment guys down by the floor during a game, according to Inc. What happened next? The National Basketball Association fined him $100,000 for “conduct unbecoming to an owner.” Not everyone appreciates good leadership.

Researchers asked 625 hiring managers which generation is the most challenging to work with. Forty-five percent pointed to Gen Z, according to Fortune. What’s more, 50 percent of Gen Z hiring managers admitted their own generation is the most difficult to manage.

Forbes recently interviewed Cal Newport, author of Slow Productivity. To harness the power of “slow productivity,” do fewer things, work at a natural pace and obsess over quality. Doing so can help you cut down on “busyness” and pour more energy into delivering quality results.

Tech workers are feverishly retooling their skill sets for a time when every company suddenly wants to be an artificial-intelligence company, according to the Wall Street Journal. Tech firms are investing heavily in AI, but tech job postings fell from 308,000 a month in 2019 to 180,000 a month now.


According to HubSpot, it takes an average of 18 calls to actually connect with a prospective buyer.

Here’s a handy question that can help you determine who else from a prospect’s company could be involved in the decision-making process: “Who first decided to explore the idea of this solution for your company?”

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!


The word ‘listen’ contains the exact same letters as the word ‘silent.’” – Alfred Brendel

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 the $54 million project to upgrade Tranquility Park near 120th & West Maple Road will include 16 synthetic-turf fields for soccer/football as well as 11 synthetic-turf baseball/softball fields? Completion is planned for fall of 2026.

Did you know a man who once lived in Omaha was executed in the Tower of London? Carl Lody was put to death at the notorious British castle in 1914 for espionage. He was a German, acting as an American, who would send secret messages to Germany during World War I. He lived in Omaha in 1912. (Source: Howard A. Hamilton)

Did you know that Creighton University is one of only 28 Jesuit universities in the United States?

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

Powered by Vesta

Eagle Mortgage logo

27th Annual Taste of Omaha from May 31st to June 2nd: The 2024 Taste of Omaha will again showcase outstanding restaurants with exciting live entertainment daily. Many local vendors will be presenting their best cuisine for you to experience. This year, the annual event will have entertainment for everyone’s tastes on stages throughout the festival. All stage shows during the 3-day extravaganza are free. Top national entertainers combined with the best popular area bands and musicians will be performing continuously throughout this event.

Global Sounds on June 1st: Omaha Performing Arts is hosting a free live music event at Upland Park. Bring blankets, chairs, sunscreen, bug spray, food, drinks (including beer and wine) and leashed pets! The show will go on rain or shine. Local food vendors will sell food and drinks during the event. Come out for a night of live music, family fun and fireworks!

Far Out Bluegrass Showcase on June 3rd: Happy Heron Presents: Far Out Bluegrass Showcase featuring Sandy Creek Pickers, Buffalo Galaxy, Average Joey & The Rabble Rousers. Come out for a fun, genre-bending bluegrass showcase of one of the best regional bluegrass bands and two touring acts mixing classic, authentic picking bluegrass with new aged, psychedelic and punk infused bluegrass. This event is non-alcoholic, and tickets must be purchased beforehand.

2024 Race, Religion and Social Justice Conference: Sustainable Progress on June 5th & 6th: The conference will address intersections between race, religion and social justice across different sectors of society; we invite multi-sector approaches — nonprofit and civic leaders, diversity, equity, access, and inclusion practitioners, community members, educators, health and mental health practitioners, artists, religious communities and scholars. Hear from four speakers, connect with others in breakout sessions and learn about sustainable progress.

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.

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

Do you have an event you want Vesta to publicize? Share them with us here for free!

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

greater omaha chamber of commerce logo
digital rendering of Flatiron District project buildings

Core Bank has appointed Steve Mitchell as director of community banking. He has more than 25 years of experience in commercial banking and operations management. Mitchell’s community involvement includes Habitat for Humanity, Special Olympics and Lakeside Hospital.

Omaha Steaks has added Donni Stanton as vice president and Chief Logistics Officer. He was previously director of logistics operations at Greater Omaha Packing Company.

Fraser Stryker has added attorney Phillip Sanberg to its business and corporate team. He received a law degree from Creighton University and a Bachelor of Science degree in Business Administration, from the University of Nebraska Omaha.

Security National Bank has promoted Joseph Borghoff to vice president, Nebraska director of trust services, within the private client services team. Borghoff has 16 years of experience in financial and law services and holds a Bachelor of Science in Business Administration degree in finance from the University of Nebraska-Lincoln.

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

Views and opinions expressed herein are solely those of the author.

He is the founder of Morgan Investor Education of Omaha.

Well boys and girls, Mr. Market has done it again – thrown a hissy fit over Nvidia. In my not-so-humble opinion, this provides Internet Investors, or those who aspire to become Internet Investors, with an incredible teaching moment. On Wednesday, Nvidia was set to release its first quarter earnings report 20 minutes after the market close. Everybody knew it was going be a whipped-ass report. The only question was just how whip ass would it be?

When the earnings numbers hit the news wire, they were even better than the ten-gazillion percent increase the analysts had predicted. In the minutes before the release, Nvidia’s stock was trading lower by about 75 BPs, in spite of the fact that everybody knew it was going to be an eyepopping report.

The instant the report was released, trading jumped into high gear, and the stock price bounced up between 4 and 9 percent. Trading volume increased to 15 times greater than normal.

This massive trading volume can only be attributed to two types of electronic trading. It began with the algorithm traders who program their computers to buy and/or sell in response to some trip-wire word on the news feed. Once those guys get the wheels turning at warp speed, the high-speed traders joined the fray. The high-speed traders are looking for momentary price differences between the various electronic exchanges.

So why do Internet Investors care? Because this feeding frenzy drives the indexes, and hence the index funds. So far this year, Mr. Market’s hissy fits have driven the indexes forward 12 percent – and thus the index funds – an equal amount.

When I use the term, index fund, I’m referring to one of the three untainted indexes, the Dow, the S&P 500 and the Nasdaq. These three are untainted in the sense that they are not the product of some market geek in a Wall Street back office. They are inclusive, arbitrary and built to reflect the market, not to out-guess it.

And as the Wall Street Journal pointed out while the trading geeks are trying to parse through the numbers in order to find the needle in the haystack, the index funds already contain needles. The other point the Wall Street geeks are missing is that their opinion doesn’t matter. The only one that does is Mr. Market’s, and all the number crunching in the world will never predict Mr. Market’s mood.

The conventional wisdom is that index funds investors are passive investors. They just buy and hold until they pass to the great big pickleball court in the sky. There are also those Internet Investors using index funds who pay attention to Mr. Market’s mood. When Mr. Market offers them a ridiculous price for their stock, they have the opportunity to either take him up on his ridiculous offer, or they can wait until tomorrow when he comes back with a new one.

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.

Quantum Fiber Expanding Fiber-Fast
Speeds to Millions of Homes in U.S. Cities!

Quantum Fiber in Omaha, Nebraska, is super-fast, reliable internet. We did away with data caps, bundles, and pricing gimmicks because you don’t want them. Instead, you get game-changing customer service, transparent pricing, and a powerful app for freedom, simplicity, and control over your internet. Quantum Fiber is what internet service looks like when it’s built for the world of you.

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

Don’t keep this newsletter to yourself. Forward it to your friends, clients and co-workers. You want to know the real reason we produce this report? It’s to remind Omahans about the vibrant, prosperous and growing city they call home. The more Omaha residents believe in their city, the more successful we’ll all be. Spread the news!

Know of someone else who wants to receive this newsletter? Have them send their name and email address to news@growomaha.com!

Subscribe Today!