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Weekly Market Report – October 13, 2022
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Restaurant & Retail Updates
Lux American Grill has opened in Papillion at 9839 South 96th Street on the first floor of a 4-story, mixed-use building. In addition to upper-level apartments, the building is already home to Café Diem and Just Pop’d Popcorn.
Texas de Brazil officially opened late last week at 1110 Capitol Avenue. The Dallas-based churrascaria restaurant chain has more than 50 locations worldwide.
Speaking of the Capitol District, window signs have gone up just east of Texas de Brazil, announcing Let It Fly, a sports bar planning to open its third location this winter. Let It Fly has existing locations in South Dakota and Tennessee.
Pause Coffee Shop plans to open in November at 7515 Main Street in Ralston.
Floor & Décor opened its first Nebraska store today at 350 Rose Blumkin Drive in Omaha. The grand opening is scheduled for October 17th. The Atlanta-based retailer was founded in 2000 and has approximately 170 locations.
The 308 Boutique is opening a new location tomorrow at 1917 South 67th Street on the street level of the HDR headquarters building in Aksarben Village. The women’s apparel retailer was founded in Holdrege, Neb. eight years ago and opened an Omaha location at 725 North 210th Street three years ago.
Ashley Wagner Fitness, a “goal-centered fitness community,” is moving from 140th & West Center Road to 12045 Blondo Street in the Blondo 120 shopping center, according to Maddie Graeve of NAI NP Dodge, who brokered the lease.
The last day at Kinaara’s current location in Millard will be this Sunday. The Indian restaurant will reopen at Regency Shopping Center at the end of the month.
Alamo Drafthouse Cinema has closed its Midtown location at 3201 Farnam Street. The La Vista location remains open. “Midtown Crossing is actively working with a new user to reposition the space and expects to have an announcement soon,” said Molly Skold, vice president of marketing and communications. “Good things are on the horizon. We’re very excited.”
The City of Omaha is not renewing leases for the Dam Grill & Bar and the River City Start at Miller’s Landing along the Missouri River. Land-use restrictions imposed by the family that donated the land have led to the city’s decision.
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The “Restaurant & Retail Updates” section is sponsored by Anderson Convenience Market, featuring Quality AMOCO Fuels and serving Omaha since 1952, and proud to announce the return of Quality Amoco Fuels. Look for changes this Summer at Anderson Convenience Market – 8 Omaha area locations!
Learn more about Anderson Convenience market at www.Anderson1952.com
Grow Omaha Eats with
Sarah Baker Hansen
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Review: At Hacienda Real, home cooked Mexican and Tex-Mex hits the spot
Sometimes when I’m deciding whether or not to review a place, I turn to Google, simply to learn a little bit more. When I googled “Hacienda Real,” the Lincoln-based, locally owned chain of Mexican restaurants that opened its third location in Omaha in August, this line popped up inside the box devoted to recent Google reviews: “Their salsa and even their guacamole was a bit too spicy for this white girl.”
Say no more.
It turns out that local guida Alayna on Google is right: the house-made red salsa at Hacienda Real does have a very pleasant kick, thanks to jalapeno along with plenty of fresh herbs. So does the fresh, chunky guacamole. But I’m counting that as a win instead of a drawback.
In fact, almost all food we tried during two recent visits to the bustling spot was colorful, flavorful and, in some cases, served so searingly hot you had to wait a beat before taking a bite.
Every diner begins their experience with a basket of warm tortilla chips (yes, refills are free) along with a complimentary side of that dark red, thin salsa and a warmed, creamy refried bean dip, which I liked quite a bit, too. Try a dip of both on the same chip.
It’s hard to know where to begin on such an enormous menu. The trio platter seemed a smart choice as it allowed us to try the chile Colorado, chile verde and chile relleno (yes, the portions are also enormous.) We also went for the tacos al carbon, steak tacos dipped in a spicy tomato sauce. I read later that they’re a popular Tex-Mex dish in Houston, in particular.
I liked the tacos a lot. Soft corn tortillas came stuffed with grilled tomatoes, onions and well-seasoned hunks of skirt steak. Saucy and soft, the tacos come topped with cool queso fresco and plenty of chopped fresh cilantro. Generous servings of seasoned Mexican rice and refried beans, the standard sides that come with most dishes, are served here, too.
The trio platter provides a fun exercise in contrast: spicy pork green chili is excellent, this version made with a tomatillo-based green sauce that has a pleasant kick and some smoke from the roasted chile. But the contrasting chile Colorado is also worth trying, with its super tender pieces of beef sirloin that are slow-simmered in a sauce made with dried red chile. Nestled between the two is a chile relleno made with a soft poblano pepper encased in a flavorful batter and tucked beneath a thick layer of red sauce and sour cream. It’s an incredible amount of food; all of it is good.
The restaurant, formerly an Old Chicago off the corner of 78th and Cass Streets, has been remodeled inside, with various types and heights of seating throughout, including booths and bar tables; new modern light fixtures (which I thought could have been dimmed a notch); and a color palette of dark grays and warm oranges. Service is exceptionally friendly. On our second visit, our server told us it was her first night on the job, and even with a few stumbles, which she apologized for though she did not need to, she was incredibly kind and efficient.
The list of margarita selections at Hacienda Real is long and varied, and we tried a few, though my easy favorite is their jalapeno margarita. Instead of being outright spicy, the drink has a pleasant vegetal note from the raw peppers floating in the mix. Matthew tried the Jalisco Patron margarita and added one of the eleven fruit flavors a diner can add into the drink; the mango he decided on was another good choice.
The one dish we tried that didn’t sail through to the finish was the queso fundido, essentially a plate of molten Monterey jack cheese, studded with chorizo, tomatoes and sliced scallion. While the first dip of a chip into the cheese is great, hot and gooey, our plate quickly solidified into a solid mass as it cooled. It would be better if it had a texture closer to fondue or creamier queso, or if it had been served, like some of the other dishes, in a hot receptacle to keep the cheese soft.
Speaking of hot receptacles, the dishes we had another evening both came served, literally, sizzling hot.
The mixed fajita platter is heavy on sauteed peppers and onions but also includes plenty of seasoned chicken, beef and, in our case, shrimp, which we had instead of pork for an additional dollar. If you are a fan of fajitas, this is a great opportunity to stack the small, piping hot tortillas with plenty of meat and vegetables and all the toppings, which across the board at Hacienda Real are fresh and inviting.
I’d spotted the moleajete de mariscos on our first visit to Hacienda Real and, in an adventurous mood, decided to order it. At $24.99, it’s one of the most expensive dishes on the menu, and here’s why: it’s a sizzling pile of shrimp, octopus, crab legs, tilapia and clams along with a variety of vegetables all served in an oversized Mexican mortar made of lava stone.
I had to wait a solid minute before digging into the bubbling hot dish, but once I did I found seafood nicely seasoned and well cooked. One note of caution if you do order this dish: take the seafood out of the moleajete once you start eating, otherwise, it gets overcooked as you get deeper into the bowl. I’d also recommend Hacienda Real add a seafood cracker to the lineup of utensils they provide, as crab legs are a chore to eat without one.
I like Hacienda Real. It’s a place I think could fill the hole left by the recent closing of Rivera’s, another of my Omaha favorite Mexican spots.
There’s plenty of home-cooked, warming food here, plus great margaritas and a few much appreciated adventurous moments, for those who care to take a closer look.
M-Sat 11a to 10p
Sun 11a to 9p
The Big Story
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How Does the Mutual of Omaha Tower Stack Up to Other Skyscrapers?
The highly anticipated final plans have been completed, and we now know details about Omaha’s next skyscraper.
Mutual of Omaha’s new corporate headquarters will become Omaha’s tallest building, rising 677 feet to enhance the city’s skyline and add a dynamic element to the urban core.
Construction will begin in January, with completion slated for 2026. It will be located immediately west of the recently reopened Gene Leahy Mall on the site of the former W. Dale Clark Library.
The building will feature 44 floors and approximately 800,000 sq. ft. of office, meeting, collaboration and amenity space. It will include parking for 2,200 vehicles in a garage used by Mutual employees during business hours and the community during evenings and weekends.
At 677 feet, the Mutual of Omaha tower will be 43 feet taller than Omaha’s First National Tower, which is currently the tallest building in a multi-state region including Nebraska, Iowa, Missouri, Kansas, Wyoming and the Dakotas.
Here’s how the Mutual tower will stack up against the current list of Nebraska’s tallest buildings:
Mutual of Omaha Tower = 677 feet
First National Tower (Omaha) = 634 feet
WoodmenLife Tower (Omaha) = 478 feet
State Capitol Building (Lincoln) = 400 feet
Elmwood Tower (Omaha) = 320 feet
Union Pacific Center (Omaha) = 317 feet
First National Center (Omaha) = 295 feet
Here’s how the Mutual Tower will compare to the tallest buildings in other cities in our region:
IDS Tower (Minneapolis) = 792 feet
Republic Plaza (Denver) = 714 feet
Mutual of Omaha Tower = 677 feet
Gateway Arch (St. Louis) = 630 feet
801 Grand (Des Moines) = 630 feet
One Kansas City Place (Kansas City) 623 feet
Here’s a list of some other major U.S. cities that have tallest buildings shorter than Mutual of Omaha’s future headquarters (this list does not include buildings that are proposed or under construction):
Mutual Tower = 677 feet
Cincinnati, OH = 665 feet
Columbus, OH = 629 feet
Jacksonville, FL = 617 feet
Milwaukee, WI = 600 feet
Tampa, FL = 579 feet
Washington, DC = 555 feet
Louisville, KY = 549 feet
Portland, OR = 546 feet
Raleigh, NC = 538 feet
Buffalo, NY = 529 feet
Nashville, TN = 522 feet
San Diego, CA = 500 feet
Baltimore, MD = 493 feet
Honolulu, HI = 450 feet
Richmond, VA = 449 feet
Orlando, FL = 441 feet
Memphis, TN = 430 feet
Sacramento, CA = 423 feet
Salt Lake City, UT = 422 feet
Albuquerque, NM = 361 feet
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Grow Omaha Snippets
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Developers are planning to build an $18.1 million, 4-story apartment building at 3001 Leavenworth Street directly south of the Triangle Apartments. The building would have 73 market-rate units ranging from studio to 3 bedrooms. The project will have 51 indoor parking stalls and 80 outdoor surface stalls. The Omaha Planning Board approved $1.8 million in Tax Increment Financing at last week’s meeting. A small commercial building will have to be demolished. Construction should begin in April and be completed by July 2024.
The Omaha Planning Board approved Tax Increment Financing for a $2.2 million redevelopment project at 3819 North 24th Street. Plans call for renovating the 97-year-old former Native Omaha Club Building. The 7,250 sq. ft. building will have commercial space on the ground floor and apartments on the second floor. Completion is planned for Fall 2023.
Omaha was ranked as the 15th best minor league sports market by Sport Business Journal. The study considered 195 minor league markets, home to 34 sports leagues and 320 professional teams, attracting 190.5 million annual fans. Charleston, S.C. was the top-ranked minor league market followed by Fort Wayne, Ind. and Tulsa, Okla.
Premier International Equestrian Event – The world’s best Dressage, Jumping, and Vaulting athletes will be coming to Nebraska next spring when Omaha hosts the 2023 FEI World Cup Finals. The event takes place April 4-8 at CHI Health Center Omaha. Tickets go on sale October 18th. Omaha previously hosted this event in 2017. The event produced a local economic impact of $19 million and attracted spectators from 38 countries and all 50 states.
Since opening in 2020, the Dr. Edwin G. & Dorothy Balbach Davis Global Center at the University of Nebraska Medical Center has generated $217.7 million in economic impact on the state of Nebraska. The center includes UNMC’s iEXCEL (Interprofessional Experiential Center for Enduring Learning) program.
NAI NP Dodge has released its Third Quarter 2022 commercial real estate market report for the Omaha metro area. Office vacancy was 7.6 percent. There is 413,000 sq. ft. of office space currently under construction. Retail vacancy is 5.0 percent. More than 594,000 more sq. ft. of retail space is occupied now than at this time last year. Industrial vacancy is only 2.2 percent. More than 7.4 million more sq. ft. of industrial space is occupied now than this time last year. More than 2.8 million square feet of industrial space is currently under construction.
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.”
Local Business News Sponsored by FranNet of The Heartland:
Real Estate News from CoStar – Online shopping this holiday season is expected to exceed $209 billion, besting the 2021 season by 2.5 percent, according to Adobe Analytics. The forecast covers the period of November 1 through December 31.
The online retail analysis is based on anonymous data from more than 1 trillion consumer visits to retail websites in 18 product categories. Nearly half of this year’s online holiday spending, $103.8 billion, will be geared toward electronics, apparel and groceries. Electronics spending is expected to rise 2.9 percent to $49.8 billion, with apparel spending declining 6.7 percent to $40.7 billion.
Applied Underwriters has formed Album Life Assurance, a new company that is the result of a partnership between Applied Underwriters and New York-based Health Outlook, a health prediction company. The new company plans to offer term life insurance, long term care insurance and catastrophic health insurance. Initially, term life insurance will be offered in key US markets, and term life and catastrophic health insurance will be offered in select foreign jurisdictions.
Scoular has reached an agreement to acquire Walker Products’ grain handling facility in Lincoln, Kan. Scoular and Walker expect the acquisition to close in the coming weeks. The rail-served facility offers 1 million bushels of storage for wheat, milo, soybeans and corn. Omaha-based Scoular operates a Midwestern grain handling network that includes more than 50 facilities in Missouri, Iowa, Kansas, Colorado and Nebraska.
Omahan Ted Kallhoff has launched Fantasy Drone Shows, a new business that uses specially designed, high-tech drones to create evening light shows. The company is putting on the first-ever drone show in the state of Nebraska Friday, October 21st at Werner Park. The show will be part of “Baseballoween,” which runs from 5pm to 8pm. Admission is free.
Costco’s $450 million chicken processing plant in Nebraska was highlighted in a recent article in The Hustle, a tech-business digital newsletter. The article discussed the popularity of Costco’s $4.99 ready-to-eat rotisserie chickens. The Fremont plant processes 2 million chickens per week, enough to meet 43 percent of Costco’s national rotisserie supply and 33 percent of its raw chicken supply. The plant has an annual impact of $1.2 billion on the Nebraska economy.
Union Pacific Corporation will release third quarter 2022 financial and operating results on Thursday, October 20th at 6:45 a.m. CDT. The company’s management team will host a conference call at 7:45 a.m. CDT.
Valmont Industries, Inc. will host its third quarter 2022 earnings conference call on Thursday, October 27th at 8:00 a.m. CDT.
Four Corners Aviation has acquired Omaha-based UltraAir, an aircraft management company. Four Corners Aviation was launched in November 2021 by Aquilla Aviation Ventures. Aquilla was formed in April 2021 when Omaha investor City Ventures partnered with aircraft broker MENTE Group, LLC. City Ventures already owned Millbrook Air, a New York aircraft management company.
This section is sponsored by FranNet of The Heartland, the local, trusted franchise experts. They are “in the business of helping you get into business!”
Grow Omaha University
Leadership & Sales Insights for Ambitious People
Compiled by Grow Omaha co-founJeff Bealsder and sales trainer
Sponsored by MyStaff, Inc.
Leadership & Management
“Great moments are born from great opportunities,” said the late Herb Brooks, one of the world’s most famous hockey coaches. One of the most important things a leader must do is find opportunity.
But the best opportunities are often hidden, that is why we must deliberately search for it. Here’s how:
Open your eyes and ears – we can no longer afford to be indifferent, or even worse, oblivious to the world around us. Be on the lookout for ideas that could lead to new opportunities. Even more important than eyes and ears, keep your mind open too. Many of us miss opportunities, because they don’t fit into our pre-existing paradigms.
Remember that all people count – sometimes we get so obsessed with the “right” people, we miss out on valuable opportunities from people, who on the surface, can do seemingly nothing for us.
Fight through the fear – one of the biggest reasons we miss out on extraordinary opportunities is because we are too afraid to leap.
Take risks – As the old saying goes, “nothing risked, nothing gained.” Unless you take a chance and do something new, you’ll keep running into the same old opportunities.
Work really hard – “Opportunity is missed by most people because it is dressed in overalls and looks like work,” said the great inventor Thomas Edison.
Set meaningful goals – make those goals specific too. The more you clarify what you really want, the quicker you will recognize it when it shows up.
Find quiet time – many people have found great opportunities, because they prayed or mediated about them. Such activity creates focus in your mind, and a focused mind is a powerful mind.
Believe – visualize success and tell yourself that good things will come. A positive mind is more receptive to hidden opportunity.
Prepare – as the old Boy Scout motto says, “be prepared.” You never know when the perfect opportunity will open up. If you’re not prepared, you might not act on it quickly enough.
Sales Statistic – 44 percent of sales reps give up after one follow-up call.
What’s the one thing that most sales reps could do to be more successful? Whether it’s a good rep who wants to become great or a poor rep struggling just to make it, the answer is almost always “prospecting.” The ability to manufacture a new client out of thin air is the single most important skill in sales. It’s also the skill that’s most likely to be lacking.
“Leadership is the capacity to translate vision into reality.” – Warren G. Bennis
“Become the person who would attract the results you seek.” – Jim Cathcart
Grow Omaha University is sponsored by MyStaff Inc, a locally owned staffing firm whose purpose is helping Nebraska companies recruit for corporate office positions.
My Staff Inc – Our team helps you find yours!
Upcoming Events in the Metro
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Creative Mornings on October 14th: Join the creative community for complimentary breakfast and discussion at Millwork Commons! This free monthly event is open to anyone who’d like to celebrate creative talent, community and discussion. This month’s speaker is Andrea Joy, Director of Belonging and Inclusion and Creative Director of Amplifying the Black Experience at Opera Omaha! Andrea is a fierce advocate for the cultivation of spaces where everyone feels they have the opportunity to bring their best and most authentic selves to the table.
Lost & Founders Walkabout on October 15th: Whether you’re lost, wandering, wondering, founding, or floundering, join others in a walk around the city. This event encourages you to focus on what’s ahead, be present, connect with others and nature. Walk as little or as long as you’d like and enjoy a few of Omaha’s popular landmarks!
Momentum on October 15th and 16th: American Midwest Ballet’s award-winning mixed repertory program features an exciting mix of ballets that showcase the expressive range of dance. Guest choreographer and Broadway performer Ray Mercer is creating a world-premiere work that celebrates community in a style he calls “very contemporary, very athletic.” Renowned choreographer Frank Chaves is reviving Eva, a work hailed by the Chicago Sun-Times at its premiere as “an instant classic.” Experience these breathtaking performances first hand on October 15th and 16th!
Tuesday Cruiseday on October 18th: Tuesday Cruisedays is a weekly event happening only in October at the Granary Green in Ralston! Owners of unique custom cars showcase their hard work and individuality taking over the entire venue space. Whether you’ve got your own custom car or simply love admiring others – this is the event for you! Food, drinks, and music are all available with this experience at the Granary!
Late Nights at The Zoo: Hallow Edition (21+) on October 20th: Eat, drink and be scary! Late Nights at The Zoo is back for the spooky season! Enjoy this limited experience on October 13th and 20th at the Omaha Henry Doorly Zoo and Aquarium! Adults 21 and over can sink their teeth into local food truck cuisine and drinks at the most interesting cocktail hour in town.
Fireside Chat with Manny Quevedo on October 20th: Meet with founders, investors, and local startup supporters at a monthly fireside chat at Modus Coworking! This month’s speaker is Manny Quevedo, an advisor and investor in local tech startups. Manny has founded multiple tech companies that have impacted the startup ecosystem in Nebraska including Cosentry (Acquired by TierPoint) and OpsCompass. Join the fireside chat and connect with local entrepreneurs!
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 Baird Holm Attorneys at Law
Scoular has appointed four new executives: Bill Davis, vice president, general manager, renewable energy; Chad Gauger, vice president, general manager, high nutritional value proteins; Sandra Hulm, vice president, general manager, pulses, seeds, sunflower and bird food; and Joe Thompson, vice president, senior associate general counsel.
Farmers National Company has promoted Paul Schadegg to senior vice president of real estate operations, replacing Randy Dickhut, who retired September 20th. Schadegg previously served as western area sales manager for the Omaha-based company.
Centris Federal Credit Union has added Ryan Meyer as vice president, business banker; Julie Strohfus as vice president, products; and Zach West as mortgage loan originator.
Hallie Kammeyer has been promoted to vice president of workplace solutions strategy, innovation and communication at Mutual of Omaha. She joined Mutual in 2008 as a human resources specialist. In 2013, she moved to Workplace Solutions. Before Mutual, Kammeyer was a human resources manager at Lowe’s Companies, Inc.
WoodmenLife has hired Tracy Crowell as director, HR business partners & recruiting. Prior to joining WoodmenLife, Crowell was HR director at the Women’s Center for Advancement. She also served as HR director at CFO Systems and held numerous positions at Union Pacific Railroad from 1997 to 2019. She received a Bachelor of Science degree in Business Administration and Master of Business Administration degree from the University of Nebraska Omaha.
Wall Street: The Week in Review
with George Morgan
The author is founder of Morgan Investor Education of Omaha.
Sponsored by Baird Holm Attorneys at Law
Views and opinions expressed herein are solely those of the author.
Views and opinions expressed herein are solely those of the author.
For the past six months, Mr. Market has been in his biggest hissy fit since the one in 2007-2008. Each week I talk to dozens of individual investors who are trying to make sense of what’s going on and trying to develop a strategy for dealing with it. For the majority of these folk the only source of market information they have is the nightly news or the smart-ass stock jockey at the watercooler.
I continually make references to “Cramer,” and my best guess is that many of my brilliant insights are wasted, because many of my readers are unaware of Mr. Cramer.
Jim Cramer is CNBC’s Vito Corleone. Wikipedia describes him as an American television personality. No mention of any financial expertise. He is the host of “Mad Money” and an anchor on “Squawk on the Street.”
The names of his shows are emblematic of his modus operandi. The title “Mad Money” is self-explanatory. He takes random calls with questions about individual stocks. He stands in front of a dozen of knobs that when struck emit sounds ranging from a whoopie cushion to a police siren. The sound of the horn indicates how he feels about the stock in question.
Are you old enough to remember Clarabelle the Clown on the Howdy Doody show??? Same level of sophistication. Only brokers from the glory days of the Wall Street will recognize the term squawk box. Back in the day, brokerage firms had a loud speaker, and before the market opening, some self-appointed stock guru would tout a stock from the firm’s bloated inventory.
Before coming to CNBC, Cramer was a hedge fund manager and senior partner of Cramer Berkowitz. In a December 2006 interview, Cramer described activities used by hedge fund managers to manipulate stock prices—some of debatable legality and others illegal. He described how he could push stocks higher or lower with as little as $5 million in capital when he was running his hedge fund.
Cramer said, “A lot of times when I had sold short at my hedge fund, I would create a level of activity that could drive the futures.” He encouraged hedge funds to engage in this type of activity because it is “a very quick way to make money.”
The Gnomes and I recommend that on an irregular basis you visit CNBC and Yahoo Finance or any other financial media out let of our choice. Your takeaway should be that there are as many predictions as there are pundits. They can’t all be right, but they can all be wrong. In the end, Mr. Market will do what he always does: Swing back and forth between manic depressive and euphoric. He will tell you what mood he is in. So as always, “Forget the needle, buy the haystack.”
Stories Coffee Company to Open at Midtown Crossing
Local favorite Stories Coffee Company, best known for their original location near 114th and Dodge, is bringing their signature locally roasted coffee to the corner of 31st and Farnam at Midtown Crossing. The coffeeshop is set to open later this fall with a full menu of beverages and food, from coffee and desserts to wine, beer, salads and sandwiches.
Have You Watched Grow O on Video Yet?
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.