Weekly Market Report: November 21, 2024

Nicole Buntgen, Contributing Writer

Church’s Texas Chicken plans to open a second metro area location at 2310 North 90th Street, where a former Godfather’s Pizza was recently demolished. Church’s will build a 1,700 sq. ft., free-standing building with a drive-thru. Church’s currently operates a location at 4042 N 168th Street in northwest Omaha.

Blue Line Coffee will open Green Line Cafe, a new concept at 1540 North Saddle Creek Road in the former Saddle Creek Breakfast Club location. The eatery will serve breakfast, lunch and grab-and-go items. An opening date has yet to be announced. Blue Line’s existing location is in Dundee at 4924 Underwood Avenue.

Rathskeller Bier Haus, a popular German-inspired restaurant located at 4524 Farnam Street, may soon reopen under new ownership after closing in October 2023. A recent post on the restaurant’s Facebook page hinted at the announcement, with further details promised on November 30.

Panda Express held a grand opening this week for its newest Omaha-area location at 12448 Southport Parkway in La Vista’s Southport West area. The fast-food restaurant is located near Cabela’s and Embassy Suites.

Romance BBQ, a Texas-style barbecue concept, has opened at Inner Rail Food Hall at 1911 South 67th Street in Aksarben Village. The menu features house-made offerings like smoked brisket, Glizzy Sandwiches, kimchi and a “by the pound” selection.

Ziggi’s Coffee will open its first Omaha location tomorrow, November 22, at 5:00 a.m. at 5102 South 201st Street. The 865 sq. ft. coffee shop is owned by first-time franchisee Lindsay Kroger. Denver-based Ziggi’s Coffee has 101 locations in 20 states including existing ones in Lincoln and Fairbury, Neb.

Construction is underway on a future Arby’s restaurant building at 196th & Oakmont Drive in Gretna. That’s part of the Gretna Landing development northwest of 192nd & Highway 370. The building is fully enclosed. It will sit on a one-acre pad site in front of a planned Fleet Farm store. Gretna has an existing Arby’s location at 11310 Wickersham Boulevard.

Construction is underway on an ALDI grocery store northwest of 192nd & Highway 370. It’s part of the Gretna Landing development. Other retailers either open or coming soon to the development include Fleet Farm, Chase Bank, Arby’s, Starbuck’s Coffee, Walgreen’s, McDonald’s, Scooter’s and Centris Credit Union.

Blue Moon Nails, located at 2720 South 123rd Court in Westwood Plaza, has rebranded from Nail Nirvana Beauty Spa under new ownership. Originally opened as Nail Nirvana in July, the salon transitioned and reopened under its new name in late September.

Evodia Fragrances will host a ribbon-cutting and grand opening for its first storefront on December 7 inside Modern Work Suites & Studios at 8790 F St, Suite 222. The Omaha-based company specializes in personalized fragrances, custom scents, and consultations to create aromas that evoke memory, mood, and connection.

Villagio Pizzeria at 6922 North 102nd Circle has launched an online ordering system, expanded catering options and a loyalty program. The family-owned restaurant was founded in 2013.

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

Graley’s Creamery & Confections is an Ice Cream Parlor that Packs Flavor & Nostalgia

One of the oldest buildings in downtown Papillion has stood since 1870. It began as the H.A. Sander General Store. In 1939, it became Abel’s Bar and Grill, where in the 1950s, customers could get a burger, fries and a drink for just two bits.

Today, the building is home to Graley’s Creamery and Confections, and its owners Bryon and Joanna Compton, have taken care to preserve its historical integrity, bringing back the original wall colors and refurbishing a lot of the woodwork.

Walking into Graley’s feels like stepping back into the late 1800s. From the preserved decor and turn-of-the-century music to the Victorian-era dress code for the staff, the experience immerses you in the charm of an old-fashioned ice cream parlor.

The Comptons began selling ice cream wholesale in 2017 and opened the store a year later.

“Joanna was a little skeptical at first,” Compton said. “And then about six months later, we were looking for another place to start a church, and she looks at a building, and said that’s where we’re going to open the ice cream shop. And I was like, okay, so this is a thing now.”

What began as a modest mom-and-pop ice cream parlor quickly became a community favorite.

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Development Projects Moving Forward in Council Bluffs

Several development projects moved forward at this week’s Council Bluffs City Council meeting.

River’s Edge

The Council Bluffs City Council this week accepted a proposal from Broadmoor Development for River’s Edge, Block 1. The 1.72-acre parcel is located east of the Pavilion and has remained vacant while surrounding lots have been developed. The city has been trying, unsuccessfully, to land a project that would have an assessment of at least $32 million. This most recent Request for Proposal was the third. Broadmoor’s $24.5 million project was the only proposal.

Broadmoor plans to build a 91-unit, 5-story apartment building. The building will have two levels of indoor parking – one underground. Broadmoor has already completed 229 apartment units at River’s Edge, with an additional 48 under construction. Completion is planned for spring 2028.

3000 2nd Avenue

Lockwood Development of Omaha is slated to transform a 6.45-acre site on the northeast corner of 30th Street and 2nd Avenue. The city council accepted Lockwood’s $58 million proposal, which was one of two submitted in response to a Request for Proposal for this property.

Lockwood plans to build a 264-unit apartment complex that will be built in three phases. Based on the proposal, the unit mix is fairly flexible as the developer considers market changes over the course of construction, but the plans show 46 studios, 74 one-bedroom, 86 two-bedroom and 19 three-bedroom apartments. The three-bedroom units and 12 two-bedroom units will be located in townhome style apartment buildings on the south side of the property. Lockwood currently plans for the townhome units to be for-lease, however, they may end up being for-sale if further market analysis indicates a better market response.

Four traditional 4-story apartment buildings will be built on the north and south sides of First Avenue Trail. The two apartment buildings on the north side of the trail will have access to a ground level shared parking garage, while the two building on the south side will have some private parking garages.

The first phase of the project will be on the southeast corner. The final phase will be construction of the apartment buildings north of the trail with an estimated completion date for the whole project of December 2027.

2800 2nd Avenue

Hoppe Development of Lincoln is the developer chosen by Council Bluffs to develop land northwest of 2nd Avenue and South 28th Street along the First Avenue Trail. This property was previously the site of an agribusiness facility and was purchased by the city to redevelop. The city had previously circulated three other Requests for Proposals, with White Lotus Group being the previous developer tied to the site.

The $17 million Hoppe proposal aims to build 89 apartment units, ranging from studios to two-bedroom units and live/work arrangements. The three live/work units will be oriented toward the trail and a new plaza on the north side of the site to help activate the new trail system. Apartment units will be spread among several buildings – primarily low-rise buildings with four-to-12 units each, although over half will be housed in a 47-unit building. At least half of the units will be for low income residents, but the project is a mixed-income neighborhood.

Previous developers adamantly pursued low income housing tax credits to finance their plans. However, the land is not located in a qualified census tract, and the failure to receive the tax credits killed prior efforts to develop the site. Hoppe is not applying for low income housing tax credits. The city is confident this will allow the plan to move forward as proposed.

Most of the development is located south of the First Avenue Trail, but a small portion north of the trail will be developed into a bike pump track. The amenity is temporary and will be removed and replace with transit infrastructure when the city finalizes plans for transit on First Avenue.

Hoppe plans to complete the project by April 2027.

Isaiah Ang, Contributing Writer

A multifamily apartment building and a hotel may soon grace the southeast corner of 132nd & Pacific Street corner at Sterling Ridge. Developers hope to amend an existing development agreement to build a 5-story, 145-room hotel right on the corner.

A 6-story, 250-unit apartment building is planned next to the hotel. Four stories of residential units will be built on a 2-story podium with parking garage space and ground floor retail. The apartment building will have 12,000 sq. ft. of retail and 14,000 sq. ft. of restaurant space. An attached parking analysis indicates that the restaurant user will be the national steakhouse chain Ruth’s Chris.

The documentation shows space for a 13,543 sq. ft. Ruth’s Chris restaurant with seating for 380 diners. The closest existing Ruth’s Chris is in West Des Moines, Iowa. Kansas City once had a location, but it closed several years ago.

A developer plans to build multifamily buildings in the Old Mill area at 10842 and 10826 Farnam Drive. Currently, there are two, 2-story office buildings. Sandwiched between the office buildings is a 4-story, 383-stall parking garage. The garage will remain, but the office buildings will be razed, and in their place, the 4-story apartment buildings will be constructed.

The development will have outdoor pickleball courts, additional surface parking and up to 50 car chargers in the garage, expandable to 100. The two buildings will total 327 units with a mix of one-to-three-bedroom apartments.

The Omaha Public Works Department is working on the Urban Core Street Reconfiguration Study, which incorporates the area from Saddle Creek Road to the Missouri River and Cuming Street to Leavenworth Street. The study will evaluate the street network, identify recommended changes and develop plans and timelines to implement the changes.

Goals include improving safety for all modes of transit, increasing multi-modal connectivity and helping obtain funding for future projects. Possible infrastructural changes might include converting one-way streets to two-way streets, road diets and adding bike lanes. The study started last May and will conclude in May 2025.

Thanksgiving Church is planning an $8 million expansion and renovation of their facilities on the southwest corner of 36th & Highway 370 in Bellevue. Groundbreaking will take place Sunday, November 24th. Construction is expected to take approximately 18 months.

The Peter Kiewit Foundation, one of Omaha’s prodigious philanthropic donors, plans to spend $480 million by 2030 to wind down the organization. According to the Omaha World Herald, the foundation has historically spent $25 to $50 million per year, but the current plan may lead to even larger investments in the Omaha community. The foundation has provided almost $1 billion to a variety of projects, local non-profits and the University of Nebraska system. The foundation donated $55 million to The Riverfront Parks project. With over $225 million donated to support projects in the Urban Core, it’s anticipated that the foundation will make additional investments in projects that will continue the downtown area’s transformation.

The steel frame is in place for Westside High School’s new $34 million swimming pool. Earlier this year, crews demolished the former, 60-year-old pool building. The new 8-lane, Olympic-style pool will be made of Myrtha, the same material used in Olympic pools. The new facility will have a moveable floor, improved filtration and a cool down area. Additionally, the building will have better air quality for the student athletes and spectators.

The City of Council Bluffs opened the 1.2-acre Valley View Dog Park last week at 1300 Franklin Avenue. The park includes two secure, off-leash areas – one for large dogs (about 0.9 acres), and a smaller, 0.25-acre area for small breeds. Daily hours are 6 a.m. to 10 p.m.

Colliers Nebraska and Prominence Global, LLC are working on Catalina, a 260-acre, mixed-use development in near Highway 275 & Meigs Street in Valley. Catalina will feature a commercial district with retail and flex buildings along with a residential component with single-family and multi-family construction.

In addition, Catalina will include the First Interstate SportsPlex in partnership with the Elkhorn Athletic Association. This 96-acre complex includes soccer, baseball and softball fields including a barrier-free, adaptive sports field.

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Scooter’s Coffee is teaming up with Hasbro, the toy and game company, to bring CANDY LAND to coffee lovers nationwide. Through this collaboration, Omaha-based Scooter’s Coffee created a new, limited time menu rooted in the playful nostalgia of the classic board game, CANDY LAND, for its more than 825 locations nationwide this holiday season.

The Omaha Airport Authority announced that Allegiant will offer seasonal nonstop service from Eppley Airfield to Sarasota, Fla. starting February 14th. Allegiant currently offers nonstop service from Eppley to Las Vegas, Los Angeles, Orlando (Sanford), Phoenix/Mesa and several cities in Florida.

Meta (Facebook) has started construction on yet another section of its massive data center in Sarpy County. The original section was completed a couple years ago northwest of Highway 50 & Capehart Road. The second section was built on the northeast corner of that intersection. Those two data centers are in Papillion. Because the third section was built south of Capehart Road, it’s in Springfield. Now construction has started on more Facebook buildings closer to Fairview Road.

Werner Enterprises, Inc. has declared a regular quarterly cash dividend of $0.14 per common share. This dividend will be paid on January 15, 2025, to stockholders of record at the close of business on January 2, 2025. Werner has paid a quarterly cash dividend to its stockholders every quarter since July 1987.

The Lund Company has reorganized its operations into two distinct entities: Lund Living and The Lund Company, operating as Cushman & Wakefield/The Lund Company. Lund Living will operate as a third-party multifamily property management company. As a member of the Cushman & Wakefield Alliance, The Lund Company’s brokerage and commercial property management departments will continue to provide comprehensive commercial real estate services.

For the first time since July 2023, Creighton University’s Rural Mainstreet Index rose above growth neutral, according to the November survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. November’s overall reading climbed to 50.2 from October’s very weak 35.2. It was the highest reading since July of last year. The index ranges between 0 and 100, with 50.0 representing growth neutral.

The Thanksgiving holiday weekend is one of the biggest travel periods of the year. The Omaha Airport Authority expects approximately 185,800 travelers to go through Eppley Airfield during the next week, approximately 2.7 percent more than last year. Eppley’s three busiest days this Thanksgiving season are expected to be, in order: Sunday, December 1; Tuesday, November 26; and Wednesday, November 27.

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

LEADERSHIP & MANAGEMENT

Attendance at company holiday parties is trending up, according to ezCater’s 2024 Workplace Holiday Party Trends Report. Sixty-nine percent of employees attended last year’s office parties, while 81 percent of surveyed workers plan to attend this year’s party. Which age group is most likely to be excited about company holiday parties? Millennials.

Benchmarking is a tool you can use to assess your performance vis-à-vis external peers. The goal is to identify and adopt best practices from competitors and even organizations outside your industry. But you don’t want to simply copy what others are doing; you need to see other organizations through your own lens.

I haven’t personally noticed this yet, but apparently spam calls are actually declining. According to the U.S. Federal Trade Commission, consumer complaints about unwanted calls dropped for the third straight year in fiscal year 2024 with complaint volume down by more than half since 2021.

Walmart is cashing in on high earners. Long the shopping destination for those looking to budget, Walmart is growing more popular with customers making more than $100,000, according to The Hustle The company’s profit grew 8.2 percent last quarter, and households making six figures or more annually accounted for 75 percent of gains.

SALES

We know that non-verbal communication is important in sales. When we interpret non-verbal communication, we often focus on eye contact and facial expressions. But the other person’s posture is also significant, says sales expert Keith Lubner: “Do they look rigid, as if they are hiding something or are they relaxed and open? In a virtual setting, are they leaning too close to the camera or hunched over? This comes across as if they are hiding something or not confident in what they are saying.”

According to HubSpot, quality sales training will improve individual performance by 20 percent.

Too many sales professionals think they’re doing a good job if they deliver a good product demo. Well, product demos don’t close sales. It’s more important to be a trusted consultative advisor – listen to your client and then craft an argument as to why your offering matches what the prospect truly values.

WISDOM

“The cowards never started and the weak died along the way – that leaves us.” – Phil Knight

https://www.dundeebanking.com/

Did you know the busiest freeway interchange in Nebraska is Interstate 80 & Interstate 680 in Omaha? According to Metro Area Planning Agency, the interchange carries 231,000 vehicles per day.

Did you know Creighton University’s student-to-faculty ratio is 11:1?

Did you know that 109,000 workers are employed in Nebraska’s manufacturing sector with an average 2023 salary of $81,000? (Source: Nebraska Examiner)

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.

Feat. Marcey Yates: An Exploration of Sound + Psychology on November 22nd: Join Benson Theatre for their 3rd Gen Art+Science Incubator collaboration between acclaimed local hip-hop artist Marcey Yates and Bellevue University’s psychology research faculty. This innovative event will explore the fascinating intersection of sound and psychology, offering attendees a glimpse into the dynamics of this interdisciplinary project. Engage in the discussion with artists and researchers as they explore how to bridge the gap between creative expression and scientific inquiry.

Zoolightful from November 22nd to December 30th: Omaha’s Henry Doorly Zoo and Aquarium welcomes the holiday season with the return of Omaha’s wildly bright tradition: Zoolightful presented by Chesterman Co. Coca-Cola. Visitors will experience the Zoo as it transforms into a world of immersive lands with unique and enchanting experiences, dazzling light displays and unforgettable holiday fun. This season has so much more to see and enjoy!

2024 Fall Open House on November 24th: Every fall, after harvest is complete on the Sunday before Thanksgiving, the Omaha Wine Company hosts their annual Fall Open House. This year, they are welcoming back some long-time winemaker friends as well as welcome new faces to join for a fun-filled day of tasting. Year after year, the wineries say the highlight of the day is meeting the wonderful, wine-loving community of Omaha, and this year will be no different! Enjoy wine samplings, finger foods, and plenty of variety!

Family Fun Night: Merry Music & Art on November 27th: All aboard for 10 evenings of festive fun for families! Stroll through dazzling holiday lights, enjoy festive entertainment, watch model trains, get your face painted and warm up by the fire with S’mores. With themed nights featuring crafts, games and holiday surprises, there’s something for everyone. Enjoy the sights and sounds of the season on this family fun night dedicated to art and music! Watch a glassblower, listen to performers from Opera Omaha, enjoy a seasonal story, make an ornament, play games, get your face painted and enjoy other activities that add beauty and joy to the holidays.

Millwork Moves: Yoga in the Dock on Tuesdays until December 17th: Happening on select Tuesdays, Millwork Commons is hosting Yoga in the Dock with Lotus House of Yoga! This event is free and taught by a certified yoga instructor. Simply bring a mat, a water bottle and show up to enjoy flowing movement with the community.

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!

NP Dodge Real Estate has welcomed new residential sales associates including Charla Henery and Manuel Abundis.

Darland Construction has added Erin Svoboda as director of strategic partnerships. With than 20 years of experience in construction sales and business development, she brings a wealth of knowledge and expertise to Darland. She holds degrees in Marketing from Midland University and Interior Design from Metropolitan Community College.

Dornan Law Team has added attorneys Ryan Crnkovich and John Vosicky. Crnkovich was an Air Force Judge Advocate for nearly seven years and completed a federal district court clerkship, Vosicky clerked at Dornan Law Team while studying at Creighton University School of Law.

Mutual of Omaha has promoted Andrew Berger to vice president and actuary. He joined Mutual in 2022 as a finance director and actuary. Before joining Mutual, he held the position of product performance actuary at Ethos Technology. Berger earned a bachelor’s degree from Bentley University.

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.

I recently grabbed my copy of Funk and Wagnalls in order to gain perspective on the term “monk.” According to Misters Funk and Wagnalls, a monk is a person with strong beliefs, tends to cloister with those of the same belief and is dismissive of the outside word.

Having read this, two groups came to mind (other than the obvious ones in brown robes and hoodies): Wall Street sycophants and academics. I have recently had the occasion to converse with random representatives from both groups.

During my encounter with several Wall Street sycophants, I was taken aback by the fact that there are still small pockets of brokers who construct portfolios of individual stocks for their clients. Even more surprising are the ones who adhere to the value investing approach. They treat it like a religion and are proud of it. When I pointed out to them that Buffett abandoned this paradigm several decades ago, their eyes glass over like those of a deer in the headlights. Snapping back to reality they admitted that their market share has declined dramatically, but they were able to devise other means of revenue to keep their practice afloat.

The second monk-like group who recently passed through my radar screen are the academics. They live in an even more air-tight bubble then the Wall Street types. My encounters with members of this group involved the academic themselves, their students and a few hours on my own devoted to perusing various college catalogues. I was stunned to find that that they still focus on individual stocks and various forms of portfolio construction that utilizes mathematical equations to deal with an emotional and random market.

Following on the heels of the election and Mr. Market’s giddy response, I received a gaggle of emails from friends and acquaintances documenting that they had had conversations with their friends who bragged about whopping one- or two-day gains from stocks Cramer has dubbed “Trump stocks.” My friends and acquaintances were quick to respond that one hit does not constitute world series success and they had enjoyed a significant increase in their net worth because they purchased and held humdrum index funds.

The stunning takeaway for all this is that Wall Street acolytes and academics seem to be unaware that there are more than 70 million individual investors who effectively and efficiently manage their own portfolios utilizing bland, boring index funds.

My mission is not to change the Wall Street sock puppets or academic minds, but rather to make individual investors aware of the alternatives. Once you have all the facts in front of you, whichever way you choose to proceed is up to you. And which ever path you choose, I wish you God’s speed.

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

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.

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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