Weekly Market Report: November 14, 2024

Nicole Buntgen, Contributing Writer

Legacy Chophouse opened last weekend in the former Jams restaurant location at 17070 Wright Street in the Legacy development. One of the new restaurant’s owners is Daryl Leise, former manager of The Drover. The menu includes classic steakhouse entrees, several seafood items and a full salad bar.

30hop will officially open its first Nebraska location on December 6th at 114 North 145th Street in Heartwood Preserve. The bar and grill has additional locations in Ankeny, Coralville and Cedar Rapids, Iowa.

Ooh De Lally has expanded its weekly offering to include a Sunday brunch buffet from 10 a.m. to 2 p.m. This brunch takes place every Sunday, and includes things like Picanha Steak, Shakshuka, Mac & Cheese, a full bagel and pastries spread and more.

The Salty Dog Bar & Grill will soon open its second location in a new retail building at 3401 South 72nd Street in MH Landing. Its existing location is at 2411 South 24th Street in Council Bluffs.

Wingstop will hold a grand opening and ribbon cutting this Tuesday for its new location at 17676 Welch Plaza. That’s between Javi’s Tacos and Sunrize Donuts northeast of 180th & Q Street. The Addison, Texas-based wing franchise has more than 1,600 locations nationwide, including seven in the Omaha area.

Sip and Spice, a Thai food and Boba tea concept, will hold its grand opening tomorrow, November 15th, at 11:00 a.m. The restaurant is northwest of 168th & Harrison Street at 6610 South 168th Street, Suite 10.

Via Farina has opened a second location at 10730 Pacific Street in Regency Landing next to Twisted Cork. The new space serves as a production hub for both the Regency and Little Italy locations, featuring an open kitchen, a “pasta lab” for in-house pasta making, and a charcuterie island. A patio is planned for spring 2025. The original Via Farina is in Little Italy at 1108 South 10th Street.

Roja Mexican Grill will celebrate its 20-year anniversary Monday (November 18th) with $5 house margaritas all week long. Located at 170th & West Center Road, Roja is part of Omaha-based Flagship Restaurant Group.

Comfort Made Mattress Factory’s first Omaha location is now open at 14941 Evans Plaza. That’s in a retail strip along the south side of West Maple Road anchored by Planet Fitness. The Lincoln-based company is a custom mattress retailer.

Alchemy Salon Studios, a women-owned salon suite business, will open later this month at 17925 Barker Court in the same building as MiBöca Dentistry near Hy-Vee off 180th & Pacific. The second-floor space will feature 20 single and 4 double luxury studios with floor-to-ceiling windows for beauty and med spa professionals.

Swing 365, a membership-based business offering indoor golf simulators, filed a permit application to remodel an existing space at 11002 Prairie Brook Road in Rockbrook Village. Swing 365 has a current Omaha location at 6972 South 178th Plaza near 180th & Harrison Street.

Vala’s Pumpkin Patch & Apple Orchard will host its annual Thanksgiving Market on November 26–27 in the Exit Barn. The pop-up will feature hard cider samplings, photos with Santa and Mrs. Claus and fall treats available for preorder or purchase day of. Items will include pies, caramel apples, soft pretzels, kettle corn and more.

The Fat Putter plans to open at the end of November at 713 Walnut Street in Des Moines, Iowa. The 11,600 sq. ft. space will be modeled after the original downtown Omaha location with different themed holes, according to The Des Moines Register. The company also operates Prehistoric Putt, Medieval Putt and additional locations in Lincoln and Kansas City.

Stories Coffee Company closed its Midtown location at 3201 Farnam Street on October 20. The local coffee shop plans to open a new location near 156th & West Maple Road, near Walgreens, with an anticipated opening in early 2025.

After more than 10 years in Midtown, Modern Love announced it will not renew its lease at 3157 Farnam Street when it expires in summer 2025. The vegan comfort food restaurant said it hopes to reopen in a smaller concept in the future.

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

Video Tour of Local Construction Sites

The latest Grow Omaha Construction Update video, produced by Brad Williams, is now available on our website or by clicking HERE.

Our construction videos are full of footage and information about local developments. For this week’s Big Story, we’re highlighting just some of the projects you’ll see. Here goes…

Tenaska Center for Arts Engagement

This $100 million+ project is three stories and is attached to the east side of the Holland Performing Arts Center. The building is now mostly enclosed.

Mutual of Omaha Tower

Crews are finishing the final floor of the massive parking garage. The concrete shear tower is now up to the 24th floor. When it opens in 2026, the building will be 44 stories and 677 feet tall.

The Duo

Work is continuing on The Duo, the red-brick, twin towers previously known as Central Park Plaza. This project will have more than 700 apartments. Crews are working on the top two floors which were previously mechanical penthouses. They are also replacing all windows on the building.

1508 Marcy Street

This 82-unit apartment building will have four floors of residential space above a ground level of indoor parking garage located on the southern edge of downtown.

Salvation Army North Corps

This community center at 24th & Pratt Street is undergoing a $15 million renovation and expansion. When complete, it will include a large worship area that will double as community space. The building will have high-tech classrooms for after-school programs and adult education. The new gymnasium will be twice the size of the existing one. A large commercial kitchen will be included. Completion is planned for 2026.

C.O.R.E. Building at UNMC

The 6-story, 180,000 sq. ft. is scheduled to be ready in 2026 and will house administrative and laboratory functions.

Coffee & Pizza Under One Roof

A new retail building under construction near 156th & Spaulding Street (just north of West Maple Road) will be home to both a Stories Coffee shop and another location of Williamsburg Pizza.

River’s Edge Park

Our final project in this month’s video is the Mid-American Adventure Tower. Construction is getting started on the 138-foot-tall tower just north of the Bob Kerry Pedestrian Bridge over the Missouri River on the Iowa side. It’s part of the River’s Edge development.

This section is sponsored by RENZE. Click HERE to see our work for one of North America’s largest and most respected engineering and construction organizations! For nearly 130 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. See our recent work HERE.

Isaiah Ang, Contributing Writer

Construction has started on Creighton University’s future softball stadium on the southeast corner of 20th & Cuming Street. The new softball field will be finished by June. It’s part of a complex that will also include a new baseball stadium and a pedestrian walkway in the place of Burt Street. Details HERE.

Hubbell Realty Company has started construction on its first Omaha-area industrial warehouse at 156th & Schram Road. The $25 million, 260,000 sq. ft. building is the first in a 156-acre, Class-A industrial park that is anticipated to have 10 buildings eventually. Construction on Infinity I is expected to be completed in late summer 2025. Rotella’s Italian Bakery Inc. plans to occupy more than 100,000 sq. ft. in the new building.

The Opus Group announced that it will begin post-tension construction later this month on a city-of-Omaha-owned parking garage in the EDGE District, the new University of Nebraska Medical Center multi-use district anchored by the Catalyst Building. The site is bounded by 48th Street to the west, Saddle Creek Road to the east, Farnam Street to the north and Leavenworth Street to the south. The 7-story structure will provide 753 parking stalls.

Crews are demolishing houses this week on the southeast corner of 38th Avenue & Dodge Street in the Blackstone area. That will make way for Skylark Development’s $22 million, 7-story building with 131-unit apartment building. Two of those levels will be indoor parking.

The City of Council Bluffs has completed 10-hole disc golf course in Fairmount Park along East Graham Avenue. Set along wooded trails, the course offers players a mix of scenic views and technical challenges, with holes that overlook Council Bluffs and the Omaha skyline. Other Fairmount Park amenities include a splash pad, a playground, a fire pit, two picnic shelters and ample parking.

Construction is expected to begin next year on The Dunham House, a 27,000 sq. ft. residence that will house 30 combat-wounded veterans from Nebraska and around the country, according to KMTV. The facility will sit on an 8-acre property near 60th & Craig Streets in north Omaha. Opening is planned for Memorial Day of 2026.

The future Lifestyle Suites building at 17728 Oakmont Drive in Gretna is now fully enclosed. That address is just northeast of 180th & Highway 370. When it opens next spring, Lifestyle Suites will offer beauty studios of varying sizes. The 2-story building will provide a range of suites to accommodate practitioners offering services including acupuncture, esthetics, massage therapy, medical spa treatments, hairstyling, and other self-improvement focused practices.

Construction has gone vertical on a Tommy’s Express Car Wash location northeast of 204th & Q Street. The construction site is just south of an existing McDonald’s restaurant. Michigan-based Tommy’s has four existing Omaha-area locations.

The Greater Omaha Chamber held a ribbon cutting ceremony for the Nebraska Resource Center at Offutt Air Force Base. This center, the first of its kind in the nation, offers “military, veteran, and dependent support services in a public-facing storefront within a base exchange.” Additionally, the center will be a resource for newly arrived service members and their families. Assistance of this kind includes everything from spousal employment and childcare to Omaha amenities.

Despite the nice fall temperatures, the Skate Ribbon at Heartland of America Park will soon transition for the winter season. This Sunday will mark the last day for roller skating. The Riverfront’s social media pages will announce the official opening date for ice skating and details on how to reserve your spot on the ice when its ready to open.

Grow Omaha Snippets are brought to you by Baird Holm LLP, the Exclusive Legal Partner of Grow Omaha. Baird Holm’s dedicated team of real estate lawyers has extensive experience in all aspects of real estate law, including purchases, sales, construction, zoning and land use, leasing, and dispute resolution. Click HERE for more information.

Berkshire Hathaway has tripled its cash, Treasury bills and other liquid assets to a record $325 billion over the past two years, according to Business Insider. That cash hoard now exceeds Berkshire’s total market value just over a decade ago (it’s now $1.15 trillion). For a little perspective, Berkshire has enough cash on hand to buy Walt Disney, Pfizer, General Electric or AT&T, and still have change left over.

BrightStar Care of Omaha held a ribbon cutting and grand opening this week at 9202 West Dodge Road, Suite 202. The company offers in-home care and medical staffing.

Megan Hale, a former psychotherapist turned business strategist, has founded Dream Money, a new fintech company set to launch next spring. The Omaha-based startup has received a $75,000 Nebraska Innovation Fund Prototype Grant. Dream Money’s software app is designed “to transform how women and other underserved entrepreneurs manage, strategize and connect with their finances.”

Werner Enterprises, Inc. was ranked No. 2 on the Top 10 Military Friendly Employer list and No. 2 on the Top 10 Military Friendly Spouse Employer list, both in the $1 billion to $4.99 billion category. Werner was recognized among the top five in both the Military Friendly Companies and Military Friendly Brands categories.

AMCON Distributing Company, an Omaha-based convenience and foodservice distributor, has announced fully diluted earnings per share of $7.15 on net income available to common shareholders of $4.3 million for the fiscal year ended September 30, 2024. The wholesale distribution segment reported revenues of $2.7 billion and operating income of $31.3 million for fiscal 2024 and the retail health food segment reported revenues of $42.5 million and operating income of $0.1 million for fiscal 2024.

The Wall Street Journal featured Omaha’s upscale housing market this week in an article titled, “What Makes Omaha Different from Other Million-Dollar Housing Markets.” The article discussed how Omaha’s upscale houses are so affordable compared to most larger markets. Featured neighborhoods included Fairacres, Linden Estates and Regency-District 66.

Doctors of Physical Therapy opened its third location at 8124 South 84th Street at Brentwood Square in LaVista on November 2nd. The business has existing locations in Millard and Fremont. Doctors of Physical Therapy “provides personalized care for injuries and pain for all ages and all insurance types.”

Avant-Garde Wealth Partners is celebrating a grand opening and ribbon cutting today, in conjunction with the Greater Omaha Chamber, at its new location in the Historic Danish Brotherhood Building at 3717 Harney Street in the Blackstone District.

A recent survey shows that 2024 holiday-season travel will be similar to last year, according to Visit Omaha. The primary thing holding back holiday travel appears to be inflation. Thirty percent of travelers, up from 24 percent in July, say inflation will greatly impact their travel decisions in the next 12 months.

Dean Snyder Construction (DSC), founded in 1958, is a family-and-employee-owned general contractor and design-build firm. We serve the commercial, food and beverage processing, industrial, pharmaceutical manufacturing, and healthcare markets. Our commitment to hard work, direct communication, owner involvement, and exceeding client expectations ensures long-term customer satisfaction. Contact us at www.deansnyder.com

A Growing Number of Homeowners Are Choosing Not to Be Locked In

By Jill ANderson

Over the past few years, some homeowners have decided to delay their move, because they don’t want to sell and take on a higher mortgage rate on their next home – commonly referred to as the “lock-in effect.” Maybe you’re thinking the same thing. And honestly, that’s no surprise. It’s a very common roadblock and is one of the biggest factors that’s kept the number of homes on the market so low for so long.

But a growing number of homeowners are deciding they just can’t wait any longer. Often, it’s because of a personal or lifestyle change.

If you’re weighing the decision to move, take a look at some of the top reasons others are choosing to sell. You might find those reasons are enough for you to move too.

It’s Time for a Change

A new job in a different city, a desire to be closer to family, or simply wanting a change of scenery can all spark the need to sell. Let’s say you’ve landed a great job offer that requires relocating, listing your current home quickly may be the next logical step.

There’s Just Not Enough Space in Your Current House

Sometimes, your current home just doesn’t fit your lifestyle anymore. A growing family, the need for a home office or more room for entertaining can all drive the decision to upgrade to a larger space. As an example, if you live in a condo and have a baby on the way, selling might be the next best move so you can find a larger home that suits your needs.

Retirement or Wanting to Downsize

On the flip side, some homeowners are ready to downsize. This could be due to children moving out, retirement or simply wanting less to maintain. If you’re newly retired and dreaming of a simpler lifestyle, downsizing to a smaller home could free up both time and resources to enjoy this new chapter of life.

Changes in Relationship Status

Big changes like divorce, separation or marriage often lead to a need for new living arrangements. If you just went through a divorce, selling the house you once shared may allow both of you to move forward and find a living situation that works better for you now.

Health and Mobility Needs

Health concerns, especially those that affect mobility, can also drive the decision to sell. A home that once worked well might no longer suit your needs.

If this sounds like your experience right now, selling your current home to move into a more accessible space, or even using the proceeds for assisted living, could significantly improve your quality of life.

Bottom Line

Selling your home isn’t just about market conditions or mortgage rates—it’s also about making the best decision for your lifestyle and future. If you’d like to learn more, let’s connect.

Grow Omaha Residential is developed and sponsored by Jill Anderson, President Residential Sales, NP Dodge Real Estate 402.255.5099 or jill.anderson@npdodge.com.

LEADERSHIP & MANAGEMENT

Daily Goals – Try writing down your three most important goals each morning. Sure, you have more to do each day than just three things, but this will help you prioritize what’s most important.

Don’t rely exclusively on email to praise a colleague or direct report, says Jessica Stokes, writing for SalesGravy. Email is efficient but conveying your appreciation with your voice has a more profound effect.

A recent survey showed that the loneliest Americans are between 30 and 44, according to The Hustle. Seventy-three percent of respondents blamed technology. According to the New York Times, the consensus among experts is that tech does not necessarily make people lonely, rather lonely people may be using tech in unhealthy ways.

New research from Empower shows that 39 percent of Americans say their pets “inspire them to be more financially responsible.” Fifty-seven percent of respondents include their pets in their long-term financial planning. Thirty-four percent of Millennials and 38 percent of Gen Zers would take a pay cut in order to spend more time with their pets.

SALES

Sales Statistic – There are approximately 15.8 million salespeople in the United States. There are more than a 100 million worldwide.

You can improve your selling ability quickly by committing to consistent prospecting. “You cannot sit there and call some prospects once, then not call them back for six months or even a year,” says sales author Mark Hunter. “It doesn’t matter what your plan is, just be consistent with it.”

It’s almost the holiday season, that time of year where you can go to a networking event every day and another one every evening. If you’re going to run from receptions to dinners to end-of-year meetings, you might as well get some networking benefit. Here are a few things to help you find business and professional value at all those eggnog-sipping get-togethers:

1. Determine what is most interesting: You need an “area of self-marketing expertise,” something about your business or job that’s fascinating to people outside your profession. Feature this when you are networking or using social media.

2. Focus on results when networking: When you go to networking events, go with a goal in mind. Sure, you should try to enjoy your conversations, but make it your mission to meet new people, find a good lead and learn about a golden opportunity.

3. Refresh your elevator speech: You need to be able to say what you do quickly, clearly and in a way that captures a person’s interest. A useful elevator speech also conveys how a person could benefit from what you do.

WISDOM

“I am not afraid of an army of lions led by a sheep; I’m afraid of an army of sheep led by a lion.” – Alexander the Great

https://www.dundeebanking.com/

Did you know UNMC is building its first residence hall? The $66 million, 6-story, 200,000 sq. ft. building will be located at 39th & Dewey Avenue and will house 300 students when it opens in August 2026.

Did you know the City of Omaha is actively pursuing a goal of adding 30,000 new jobs and 30,000 new residents in the urban core?

Did you know Warren Buffett bought his Omaha house in 1958 for $31,500? The 6,500 sq. ft. house is now worth $1.3 million. He might not get too excited about all that home-value appreciation when you consider the house is only .000089 percent of his net worth. (Source: Wall Street Journal)

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.

Sip & Stretch Brunch Yoga on November 16th: Ease into your weekend with Sip & Stretch Brunch Yoga! It’ll be a zen-filled morning of yoga – paired with delightful brunch cocktails. Reserve your spot now as space is limited! Don’t forget to bring your own mat as well.

Kids Night Out on November 16th: Get ready for a WILD night! While parents enjoy a well-deserved date night, kids ages 5 to 12 years old will discover fun new ways to appreciate wildlife. Hosted by trained educators, each unique program includes pizza, snacks, animal experience, movie time, engaging and educational activities and more. Space is limited so make sure to reserve a spot now!

Omaha Volleyball vs. South Dakota on November 16th: Omaha will be taking on South Dakota on November 16th at the Baxter Arena. Bring your friends, family, and self to cheer them on! Tickets are available for purchase now, make sure to comply with their clear bag policy and review prohibited items online.

Midtown Merry Marketing on November 17th: Make merry – with local makers and vendors! Join others for a day of festivities and drinks for Midtown’s annual merry market. Kick off the season with 30+ local makers and vendors, perfect for checking off your holiday shopping list. Enjoy seasonal drinks from The Empire Room’s bar, featuring Bottomless Merry Mimosas, Rudolph Punch, Espresso Martinis and a special Shirley Claus for the kids. Don’t miss Storytime with Santa and Mrs. Claus from 12 noon to 1 p.m., and marvel at Turner Park’s “Season of Lights,” with dozens of trees aglow each evening at dusk!

18th Annual Christmas Party on November 21st: Join us, and our friends at The Nature Conservancy in Nebraska, for an evening of live music, free wine and desserts, local popups and more – to celebrate the season and help support the conservation of critical habitat for migrating sandhill and endangered whooping cranes. Get your tickets now!

This section is sponsored by Eagle Mortgage, a locally owned, full-service mortgage company helping you with Conventional, VA, FHA and USDA loans in both Nebraska and Iowa. Learn how Eagle Mortgage helps people afford the home of their dreams by clicking HERE!

Lutz has added Jake Khan and Haley Russell to its Omaha office. Khan is a project manager and has a bachelor’s degree in interdisciplinary studies from the University of Nebraska at Omaha. Russell joins the firm as a client relations assistant. She graduated from the University of Nebraska at Kearney with a bachelor’s degree in communication disorders.

Keith Olsen, dean of the University of Nebraska Medical Center College of Pharmacy, has announced his decision to step aside as dean, effective January 1st. He will then phase into full retirement starting January 2026, after 25 years at the university. According to U.S. News & World Report, the UNMC College of Pharmacy is ranked in the top 20.

Lauritzen Gardens has added Abby Anderson as director of education. She is responsible for the garden’s educational initiatives and the overall strategy and direction of public and school-based programming.

College of Saint Mary has named Jaclyn Maides as assistant vice president of alumni and donor relations. She previously Akkodis, where she was a business development manager for information technology and engineering clients. She is a 2020 College of St. Mary graduate.

The UNO Alumni Association announced recipients of several honors last weekend: 1. The Jim Leslie Outstanding Service Awards – Bridget Weide Brooks, Jon Brooks and Jerry Cederblom; 2. Public Service Award – Wendy DeBoer; 3. Young Alumni Achievement Awards – Jared Hall and Megan Holt; 4. UNO Athletic Hall of Fame – Mitch Albers, Mike Denney, Dan Ellis, Zach Miller and Lindsey Slocum Robertson.

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.

“What’s in a name? A rose by in another name would still smell sweet.” These are the famous words from William Shakespeare’s Romeo and Juliet. When I was a sophomore in college, I took a course on Shakespeare. Now, 60-something years later, I finally get to apply what I learned there. A pretty lousy return on investment.

Over the course of the past several months I have been approached by a gaggle of investors with questions about “index funds” in robo accounts managed by their financial advisor. After numerous hours spent parsing the prospectus of the “index funds” in question, I experienced an epiphany: Shakespeare was wrong. A rose by any other name can stink to high heaven.

A true index fund mimics an index that represents all elements of the market, and companies are not selected by industry or quality. Most importantly, no effort is made to improve the performance of the index. Because they are passive, index funds’ operating expenses are extremely low – most approaching zero. By definition, they do not beat the market; they equal the market.

Leafing through the funds in question, one group screamed at me – all are named international high yield or some variation thereof. On close examination, I found most contained high-dividend-paying stocks from Europe and the Far East, excluding the United States.

Because the companies are traded on foreign exchanges, they face currency risk. To overcome this risk, the funds trade futures on the currency in question. Then, to add insult to injury, the funds are weighted by the size of the company’s dividend, not the quality of the company’s finances. Translation: A company headed down the crapper, with a big divided, could drive the index.

All the funds have high expense ratios, usually in the neighborhood of 100 to 125 basis points. Then throw in an additional 100BP, the RIA gets to build and monitor the robo account, and you end up with a pretty expensive investment vehicle. It’s not the cost-effective model that characterizes true index funds.

Now, here’s the final nail in the coffin. I went through the performance of 11 of these funds for the past two years. I found they averaged somewhere between 6.5 and 8 percent. This is compared to the 48 percent performance of a plain-Jane, passive, randomly chosen S&P 500 index fund over the same timeline

Now back to the stinky rose thing. There are thousands of “Index funds” being offered to the investing public that are index funds in name only. It is critical that investors know what is in their robo accounts and make sure they take the time to stop and smell the roses (pun intended).

Hubbell Realty Company is a full-service development company providing construction, development, homebuilding and management services since 1856. Click HERE for more information.

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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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