Previous Market Reports:
Weekly Market Report – October 14, 2021
Addy’s Sports Bar & Grill plans to open a new location in a to-be-constructed building next year on long-vacant lot at 5620 South 144th Street in the Stonybrook area. That’s just north of an existing Douglas County Treasurer’s office. Groundbreaking in planned for late spring. Addy’s has four existing locations. The new building would replace the current location at 141st & S Street.
Chippy’s British Market & Bakery has been a smash hit since opening last spring at 2718 S 123rd Court in Westwood Plaza. Chippy’s has leased the two empty bays on either side of the store. One is serving as a warehouse, while the other one will be a British restaurant opening next year. Owner Glenn Greet is planning to open an online store plus bricks-and-mortar locations in several nearby cities.
OnlyInYourState.com featured Sgt. Peffers, which has locations on Saddle Creek Road and in old Millard. Here’s a quote from the article: “There’s a Beatles-Themed Restaurant In Nebraska And It’s Everything You Could Hope For. There’s no doubt that The Beatles’ influence can be felt far and wide, from music to culture to fashion…and even food. This Omaha restaurant serves delicious Italian cuisine with a Fab Four twist.” Sgt. Peffers was founded in 1988.
Omaha Bakery will hold a ribbon cutting November 2nd for its new store at 10503 South 15th street in Bellevue. Omaha Bakery plans to continue operating its store at 725 North 210th Street.
Tropical has replaced TCBY at 5170 South 72nd Street in Ralston. The business sells ice cream and coffee. The location is south of the Ralston Arena.
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The “Restaurant & Retail Updates” section is sponsored by Backlot Pizza + Kitchen located near 204th & Q, where you can enjoy Detroit-style pizza, classic favorites and craft cocktails!”
The Big Story
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A Region That Exceeds Expectations
Last week’s Big Story discussed the Greater Omaha Economic Development Partnership’s corporate recruitment, retention and expansion efforts. This week, we thought it would interesting to share some of the information the economic development partnership uses when selling Omaha to company decision makers…
Demographics – the Omaha Combined Statistical Area has 990,492 people and will grow to 1.1 million by the end of 2035. From 2010 to 2035, Omaha is projected to grow 20.2 percent compared to 18.5 percent for the nation as a whole. Omaha’s median age is 35.8 compared to 38.1 nationally. Omaha’s cost of living is 6.4 percent below the national average.
Economic Growth – Since 2007, Omaha has added 38,541 new jobs. The metropolitan area produces more than $51 billion in goods and services each year. Omaha’s finance/insurance sector grew 21.7 percent compared to 2.3 percent nationally. Our IT industry is booming with an 18.3 percent increase over the past five years.
Industry – Omaha entrepreneurs earn an income that is 57 percent higher than the national average. The metro has four Fortune 500 company headquarters and eight Fortune 1000 companies.
Talent – The metro workforce totals 495,000. Approximately 38 percent of adults hold a bachelor’s degree compared to 34 percent nationally. The average Omaha worker produces $62,154 worth of goods and services compared to $60,075 nationally.
Business Climate – Cost of doing business in Omaha is 12 percent better than the national average. Omaha’s commercial electricity costs are 20.5 percent below average.
Transportation – Omaha has nonstop flights to 33 cities. Approximately 70.1 billion pounds of cargo are enplaned annually. Trucks can access 90 percent of the continental United States within two days. Three Class-I railroads serve the metro area.
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Grow Omaha Snippets
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Development is coming soon to the Werner Park area in Papillion. BHI Development, Inc. is working on “Generations,” a 60-acre, mixed-use project that would fill in the vacant land between Highway 370 and the baseball stadium. Plans call for 400 apartments, office space, condos, hotels and two parking garages. Space is now being marketed for sale, lease and build-to-suit.
Plans call for the Aksarben Suites by Wyndham at 7270 Cedar Street to be repurposed into a 181-unit apartment building. The project will have 169 studio apartments and 12 two-bedroom units. The 6-story, 152,000 sq. ft. building has previously carried the Embassy Suites and DoubleTree flags. The building was known as the Granada Royale Hometel when it first opened several decades ago.
Insurify has included Omaha on its list of the 20 safest cities for pedestrians, coming in at number 16. The number of Omaha drivers cited for failing to yield is 70 percent lower than the national average. Philadelphia ranked first. The only other cities from this region to make the list were Chicago and St. Louis.
Developers are planning a 4-story, mixed-use building at 4907 Underwood Avenue in downtown Dundee. The building will have street-level retail space with apartments on the upper floors. One existing residential building will be razed to make way for the new building.
A former gas station has been demolished near 107th & Pacific Street, which clears the way for a new entrance into the Regency Landing development. Crews are renovating an existing building on the site, which will include a third location of Early Bird restaurant plus Blue Sky Patio and Pickleball. Some of that building’s existing tenants will remain. Plans call for additional buildings to be constructed in the development.
Omaha is one of the nation’s strongest real estate markets according to a recent National Association of Realtors’ Commercial Market Insights report. Here are the nation’s top markets in alphabetical order: Austin, Texas; Boise, Idaho; Chattanooga, Tenn.; Daytona Beach, Fla.; Miami; Myrtle Beach, S.C.; Omaha; Palm Beach, Fla.; Provo, Utah; and San Antonio.
Metro Omaha Builders Association will host its annual Fall Parade of Homes October 16-17 and October 23-24. This free annual event allows the public to tour showcase homes by various builders throughout the metro area.
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Local Business News Sponsored by FranNet of The Heartland:
Real Estate News from CoStar – Weekend travelers helped drive hotel occupancy up last week as the industry rides a roller coaster. Weekly occupancy rose 2.2 percentage points last week to 63.9 percent. Room rates followed with an increase of $3.50 to an average daily rate of $134.63. Weekend occupancy hit 79 percent, a 4-percentage point increase from the previous weekend. It was 21 percentage points higher than weekday occupancy.
Airlite Plastics has acquired Oxnard, Calif.-based Cosmetic Specialties International, LLC, a leading provider of high-quality packaging to the beauty and personal care industry. Airlite Plastics is a privately held, Omaha-based manufacturer of injection molded in-mold labeled and printed containers and lids for the consumer packaged goods industry.
Novozymes is planning to invest more than $316 million in a new manufacturing plant on the biorefinery campus in Blair. The Danish company, which has an existing operation in Blair, produces biotech solutions for the food and beverage industry. Construction is expected to begin in 2022 and be complete by 2023.
The Heritage at Fox Run senior living has officially opened at 4802 Council Pointe Road in Council Bluffs. The facility provides independent living and memory support care.
Would you like to own a mall? One Pacific Place, the outdoor shopping mall at 103rd & Pacific, is listed for sale. According to an offering memorandum produced by real estate company JLL, the 91,000 sq. ft. property is 93.4 percent occupied. Five leases totaling 12,000 sq. ft. have been signed so far in 2021. One Pacific Place was built in 1989 and sits on 10 acres. Trader Joe’s is the anchor tenant.
A Farm Bureau Financial Services office officially opens with a ribbon cutting October 20th at 2227 Jefferson Street in Bellevue.
Consumer prices rose more than expected in September, driven primarily by higher energy prices, according to CoStar. The Labor Department reported Wednesday that prices over the past year have increased 5.4 percent and 0.4 percent from August to September. Economists had forecast 5.3 percent and a 0.3 month-to-month increase. Removing volatile energy and food prices, so-called core inflation was 4 percent over the past 12 months, which fell in line with estimates.
Fuel prices are up considerably during the year after having been down considerably last year as the pandemic suppressed demand. Gasoline, for example, is 42.1 percent higher than last year. Used car prices have been another inflation contributor. Those fell 0.7 percent for the month but still are 24.4 percent higher than last year, chiefly because new car supply is limited by a shortage of computer chips.
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!”
People in the News
Sponsored by Baird Holm Attorneys at Law
Mutual of Omaha has appointed Mark Klyman as senior associate general counsel at Mutual of Omaha. Before joining Mutual, Klyman was a senior investment counsel at CSG Investments, Inc. Before that, he was a shareholder at Vedder Price P.C., a senior compliance counsel at Harland Financial Solutions, vice president and general counsel at United Financial of Illinois, Inc. and a partner at Mayer Brown LLP. Klyman earned a bachelor’s degree from the University of Michigan and a law degree from the Harvard University.
Fred Hunzeker retired as CEO of Omaha-based Tenaska Marketing Group on October 1st. Hunzeker provided oversight to Tenaska’s energy marketing companies. He will remain an active member of Tenaska’s Board of Stakeholders.
Child Saving Institute has chosen Jaymes Sime as president & CEO and Lori Bechtold as Chief Development Officer. The organization focuses on the prevention, intervention and healing of child abuse, neglect and trauma.
Carson Group, an Omaha company that works with financial advisers across the country, has chosen Samantha Allen as vice president of digital marketing.
Farris Engineering has hired Beth O’Brien as marketing coordinator. Headquartered in Omaha, Farris Engineering has offices in Lincoln, Sidney, Neb., Colorado Springs, Colo., and Kansas City, Mo. The company specializes in mechanical, electrical and plumbing engineering.
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