Weekly Market Report – October 17, 2024

Nicole Buntgen, Contributing Writer

Reno’s Karaoke, a private karaoke bar in Blackstone, will open a second location inside Blue Sky Bar & Patio at 10730 Pacific Street in Regency Landing this winter. Unlike the Blackstone location, which is 21+, the new venue will be open to all ages.

The new Chick-fil-A restaurant at 156th & West Maple Road opened today. Grahm Talbitzer is the local franchise owner. Located next to Union Pizzeria, Chick-fil-A will be open for dine-in, carry-out and third-party delivery from 6:30 a.m. to 9 p.m., Monday through Saturday. The drive-thru will remain open until 10 p.m., Monday through Saturday. It will be the seventh Chick-fil-A in the Omaha market.

Corkscrew Wine & Cheese recently opened Alco-Hall, a semi-enclosed shared space between its Rockbrook Village location and Public House, a whiskey bar. The outdoor patio includes a fire pit and swings, open during Corkscrew and Public House business hours.

Wingstop will host a grand opening and ribbon cutting for its newest location at 17676 Welch Plaza near Hy-Vee off 180th & Q. The wing franchise has more than 1,600 locations nationwide, including seven in the Omaha area.

First Watch has opened at 248 North 144th Street in Heartwood Preserve. The Florida-based, breakfast-and-lunch restaurant now has seven Omaha-area locations.

Jams Old Market at 1101 Harney Street is temporarily relocating just to the west to the former Mouth of the South location at 1111 Harney Street. The Jams space will undergo a HVAC renovation. That should be complete in November, at which time, Jams will go back to its normal space.

To celebrate its first store in Nebraska, Mochinut will host a ribbon cutting on November 2nd at 3605 North 147th Street, near Chipotle and First Watch. The shop recently opened and specializes in mochi donuts, a Hawaiian creation that combines American donuts with Japanese mochi.

Early Bird has opened in the former Tanner’s bar & Grill space at 173rd & West Center Road. The original location is in the Blackstone District. The restaurant also has locations in Regency Landing, Papillion and Lincoln as well as two in the Des Moines, Iowa area.

Net Par, an indoor golf simulator and sports bar, has opened in Gretna at 17870 Oakmont Drive near 180th & Highway 370. The venue opened its first Nebraska location last December in the Capitol District downtown.

Board & Brush will open its first Nebraska location on October 26th at 6016 Maple Street in Benson. The sip-and-paint franchise describes itself as a creative studio that combines woodworking with DIY projects.

Sage Grove Boutique will soon open at 8706 Countryside Plaza off 87th & Pacific. Its temporary location is at 8721 Shamrock Road, next to House of R on the opposite side of the retail strip. The boutique’s goal is to make every shopper feel heard, seen, and comfortable, according to its website.

Barstow Hospitality Partners, owners of ACX Cinema and Backlot Taphouse, have invested in Site-1 Brewing, an awarding-winning brewery and taproom at 2566 Farnam Street. Backlot Taphouse now serves its signature Detroit-Style pizza at Site-1. Barstow Hospitality Partners now operates 56 movie screens and five restaurants in the greater Omaha region area plus Chicago, Milwaukee and Cincinnati.

Rush Market is closing its store at Oakview Mall. The non-traditional furniture retailer has occupied the former Younkers department store space since 2019. The retailer has hinted about a new location on its Facebook page but no announcements have been made.

Eddie Bauer, the Seattle based outdoor-recreational clothing chain, has closed its store at 10323 Pacific Street in the One Pacific Place center. The Eddie Bauer Outlet store at Nebraska Crossing in Gretna is the only surviving location in the state of Nebraska.

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

Council Bluffs Announces Public Art on FIRST AVE Corridor

The City of Council Bluffs is growing its privately funded mural program along the FIRST AVE trail. This project, administered by the City of Council Bluffs with financial support from the Iowa West Foundation, is transforming the FIRST AVE corridor into a place of artistic expression.

The FIRST AVE trail already features a series of five murals. Local artists, Danny Reyes, Betni Kalk, Weston Thomson and Ilaamen Pelshaw completed five murals earlier this year. Locations include the trail-facing walls at 29 South 21st Street, 3415 West Broadway, 15 South 20th Street, the Cochran Park-facing wall at 2200 2nd Avenue, and the Council Bluffs Public Library Cochran Park Kiosk.

Two new murals are currently underway. Local artists Oria Simonini is working on the trail-facing wall of Grass Wagon at 110 South 29th Street, and Jenna Jaffery is working on the trail-facing fence at 20 South 15th Street behind Creative Auto Solutions.

Additionally, seven new mini-murals are being added to utility boxes along the FIRST AVE trail. The mini-murals are stationed along the FIRST AVE trail which stretches from 16th Street to 35th Street, and features local artists.

“We believe that public art has the power to inspire and unite,” said Mayor Council Bluffs Matt Walsh. “These murals showcase local talent and serve as an example of how creativity can shape and improve our community.”

These murals not only elevate the aesthetic of the FIRST AVE trail but also offer a platform for local artists to showcase their talents. As part of a larger effort to activate public spaces and foster community engagement, the murals create an immersive trail experience, offering great photo opportunities and visually enriching interactions for both residents and visitors.

The City of Council Bluffs has served as a liaison between building owners, artists, and the Iowa West Foundation to bring these murals to life. All mural concepts have been designed and approved, the walls and the utility boxes have been prepped, and the nine new murals should be finished before winter.

“Iowa West Foundation has been instrumental in constructing, developing, and activating the FIRST AVE corridor,” said Walsh. “Their investment in this mural program underscores their dedication to enriching the landscape of Council Bluffs.”

FIRST AVE, a former rail corridor vacated in 2013, is located one block south of West Broadway, the city’s main thoroughfare. Roughly 60 percent of Council Bluffs residents live within one mile of this corridor. The multi-modal corridor enhances the operation of West Broadway, makes an essential link in the trail system, links to downtown Omaha and provides the opportunity to redevelop obsolete industrial properties.

The FIRST AVE trail presents a unique user experience. Conducive to walking, biking, and micro-mobility options, trail amenities include lighting, landscaping, public spaces, and trail plazas, making the corridor a linear park, not just a trail.

“I encourage residents to visit the FIRST AVE trail to experience not only the murals, both completed and in progress, but also the vibrant fall colors from the newly planted trees,” said Council Bluffs Parks and Recreation Director Vincent Martorello. “The blend of art and nature creates a unique atmosphere, making this the perfect time to explore the trail and enjoy its transformation.”

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Isaiah Ang, Contributing Writer

Creighton University is seeking to acquire additional rights-of-way. The Omaha Planning Board will review a petition for vacation of Burt Street from 17th to 20th Street and 18th Street from Cuming Street south to an existing pedestrian/bike path just south of Burt Street. The vacation is contingent on Creighton’s acquisition of adjacent properties including 1809 and 1813 Burt Street. The city has been cooperating with Creighton to help the university create a comprehensive pedestrian and bicycle path, particularly creating an east to west connection on Burt Street.

While the project is part of the university’s campus master plan, the pathway will benefit both students and private citizens while creating new pedestrian and bike ways in the growing North Downtown area.

Last weekend, crews raised the tower crane at the future Mutual of Omaha headquarters site by five sections or another 100 feet. The central reinforced concrete shear tower has now reached 22 floors. Located at 14th & Farnam Street, the building will eventually be 800,000 sq. ft., 44 stories and 677 feet tall when it opens in 2026.

A developer plans to build an apartment project at 1614 Locust Street. The vacant lot is about 29,000 sq. ft. and lies just west of Chubb Food grocery store. The 51,000 sq. ft., 4-story building would have an adjacent surface parking lot. The building will have 36 units, including 19 three-bedroom units, with the remaining being a mix of one- and two-bedroom apartments. Several ground floor units will have private entrances.

Omaha’s Henry Doorly Zoo and Aquarium is building a veterinary hospital, according to KETV. The 32,000 sq. ft. building will be near the Asian Highlands Exhibit. In addition to veterinary facilities and equipment, the new hospital will also have educational space.

U.S. Rep. Don Bacon, Mayor Jean Stothert and leaders of the Blackstone Business Improvement District last week announced the Harney Streetscape Plan, a $2.5 million project to upgrade Harney Street through Midtown. Plans call for wider sidewalks, reduced traffic speed, better traffic signals and a reduction from three lanes of traffic to two. The project received a $2 million Federal Community Funding Project grant and requires a $500,000 local match. The project will start and finish in 2027.

Charleston Homes is planning a residential subdivision named Indian Ridge at 204th & Ida Street. According to an Omaha Planning Board application for rezoning, there will be two phases to build out 487 single family lots throughout the 146-acre development. Phase 1 consists of 206 lots with the remaining 281 lots reserved for Phase 2. The subdivision will be north of Indian Creek Golf Club and west of Flanagan Lake.

Last week, the Council Bluffs City Council approved a resolution to initiate bids on the West Broadway Extension Project. The project has been funded by a $3.5 million grant from the Iowa West Foundation. It entails landscaping, irrigation and signage improvement between 35th and 40th streets, roughly the area around the newly constructed I-29-I-480 Interchange and the western entrance to Council Bluffs.

Olsson, Applied Underwriters and Lanoha Real Estate Company held a ceremonial ground-breaking this week for Olsson’s 4-story, office building in The Row at Heartwood Preserve southwest of 144th & West Dodge Road. Olsson, an engineering and design firm, will house its 300-plus Omaha-area employees in the building when it’s complete in 2026. Additionally, two adjacent buildings — a multi-family residential building and a 4-star hotel — are in the design phase.

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NP Dodge Real Estate has unveiled a rebranded logo and new slogan, “Make It Possible.” The new message “encapsulates the belief in the power of real estate to change lives and the commitment to help agents, clients, and communities grow.” NP Dodge will celebrate its 170th anniversary next year and is the longest-running real estate company in the United States.

Prehistoric Putt plans to open November 1st in the former Nobbies building in Bel Air Plaza northwest of 120th & West Center Road. The space will feature four, 18-hole mini-golf courses with full-scale dinosaurs, an arcade, a virtual reality laser tag arena, party rooms and a kitchen and bar.

Union Pacific Railroad announced a four-year partnership with US Speedskating, the organization dedicated to supporting speed skaters from local clubs to the Olympics. Omaha-based Union Pacific is an official sponsor. The US Speedskating National Team is based in Utah, a state with long historical ties to Union Pacific and home to approximately 1,200 of the company’s employees.

SiriusXM shares rallied earlier this week after Omaha-based Berkshire Hathaway raised its stake in the satellite radio company, according to Investopedia. Berkshire bought 3.6 million shares for roughly $97 million across four purchases from Wednesday to Friday. The purchases bring Berkshire’s stake to nearly one-third of SiriusXM.

Green Plains Inc. will release third quarter 2024 financial results prior to the market opening on October 31st, and then host a conference call beginning at 8 a.m. CDT to discuss third quarter 2024 performance and outlook.

Union Pacific Corporation will release third quarter 2024 financial and operating results on Thursday, October 24 at 6:45 a.m. CDT. The company’s management team will host a conference call and live webcast at 7:45 a.m. CDT.

As the Omaha Airport Authority moves full speed ahead on Eppley Airfield’s $950 million terminal expansion project, passenger traffic continues to rise. Eppley welcomed 420,432 passengers in September, up 3.4 percent from the same month a year ago. Year-to-date traffic is 3.91 million, which is up 6.4 percent over 2023.

For a 14th straight month, Creighton University’s Rural Mainstreet Index sank below growth neutral, according to the October survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The October reading sank to 35.2 from 37.5 in September. A reading of 50.0 represents growth neutral.

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LEADERSHIP & MANAGEMENT

Would you like to be more respected at work? Scott Mautz, writing for CNBC, recommends you start by asking yourself three critical questions: 1. What can I give to earn respect? 2. What can I resist to earn respect? 3. What can I exude to earn respect?

An Intelligent.com survey of 1,000 managers shows that 81 percent of business leaders say recent college grads need workplace etiquette training. The top issues for young professionals are the ability to take constructive criticism, proper cell phone use, and conflict resolution.

Grow Up Already – Gen Z is extending the timeline for adulthood, with many not considering themselves fully grown until nearly 30, according to Fortune. This shift coincides with an increasing trend of young adults remaining financially dependent on their parents well into their twenties.

Early Happy Hour – Weekday late-afternoon drinking is up since pre-pandemic times, while the weekday lunch spend is down, according to Fortune. Movers and shakers are becoming more likely to meet for expensive drinks and upscale appetizers at 4 p.m. than they are at 6 p.m.

SALES

One of the negotiation mistakes sales reps tend to make is failing to determine a walk-away point before they are with a prospective client. Sales expert Kelley Robertson says, if you don’t know when to walk away from a sale, you’ll likely lose money.

Credibility is not about knowing everything about your product, according to sales author Mark Hunter: “It’s knowing just enough to be able to have a conversation and occasionally say, Hey, I don’t have the answer, but I’m going to get back to you by this afternoon, and by that afternoon you deliver it in the promised time frame.”

To close the sale, it’s essential to focus on the needs and wants of your buyer, according to sales author Jeb Blount. This means taking the time to understand their pain, challenges and desired outcomes. It means offering recommendations that bridge from the value you offer to their problems; and then, demonstrating how your recommendations will help them achieve their desired outcomes. It also means building trust and rapport with the buyer, so that they feel comfortable and confident in making a purchase from you.

WISDOM

“When you win, say nothing. When you lose, say less.” – Paul Brown

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Did you know the University of Nebraska at Omaha enrolls 5,648 students who are the first in their families to ever go to college?

Did you know the CHI Health Center Omaha’s total building size is 1,118,300 sq. ft? The complex also has 4,500 dedicated parking spaces.

Did you know the veterinarians at Omaha’s Henry Doorly Zoo and Aquarium conduct about 17,000 medical examinations per year?

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Dining with Purpose: Omaha Restaurants Supporting Nonprofits

Omaha is known for its great restaurants, but what you may not know is that many of them (far beyond the few mentioned here) have a strong commitment to philanthropy. Many local spots are blending business with community support, giving customers the chance to give back with every meal.

At Lyle’s Pizzeria, you can order their rotating Charity Pie option, where $1 from each pizza sold goes to a selected nonprofit. This October, their signature Potato Pesto pizza is supporting Carole’s House of Hope.

Meanwhile, Ooh de Lally is addressing a different community need. Partnering with Metro Community College as an extension of their Culinary Arts and Re-entry Assistance Programs, the restaurant supports individuals impacted by the justice system. This nonprofit restaurant creates opportunities in the food service industry, they know the power of food and service can promote real change in people.

Table Grace Café also a nonprofit, is a donation-based establishment that combines meal service with job training and music ministry to promote personal and spiritual transformation. The café’s mission is supported through its catering services and the Mobile Grace Food Truck, with all proceeds helping to fund its integrated programs for Omaha’s underserved populations.

At Salted EDGE, the Level-Up Program demonstrates a year-round dedication to giving back. Their nonprofit calendar outlines ongoing support for a wide range of causes, such as Project Pink’d, ensuring that each dining experience has a lasting community impact.

Another way to contribute is through TAGG (Together A Greater Good), a platform that allows diners to upload their restaurant receipts and direct a portion of the sale to a nonprofit of their choice. With more than 400 Omaha-based businesses participating, the majority being restaurants, including Dante, Big Mama’s Catering and Flagship Restaurant Group – TAGG has made it easy for consumers to support causes close to their hearts while enjoying their favorite meals.

Spooky Spirits on October 18th: Step into a world of boo-tanical mischief! Lauritzen Gardens is transforming into a realm of after-hours fun, foliage and SPOOKY SPIRITS. Get ready to sip on themed cocktails, play ghoulish garden games, discover wicked plants and enjoy bone-chilling entertainment during this adults-only escapade. Bars will keep the spirits flowing, and frightfully good food will be available for purchase as you revel with friends amid the garden’s natural wonders. Purchase your tickets online or at the door!

Chili Crawl on October 19th: Whether you’re looking for classic or spicy, the 7th Annual Chili Crawl is sure to treat your taste buds! Your favorite Midtown Crossing restaurants will each be offering their own signature chili recipe, available for purchase as a $4 sampler. Visit as many restaurants as possible, in any order you’d like, and cast your vote for the best chili in midtown. And look for drink pairings (prices vary) to put out the fire along the way! This pay-as-you-go tasting tour comes around just once a year, so don’t miss out!

Cass Street Trick’R’Treat on October 19th: Bring the whole family for a ghoulishly good time at Cass Street Trick ‘R’ Treat – a completely FREE and family-friendly Halloween Carnival presented by Omaha Conservatory of Music, Omaha Community Playhouse and Omaha Academy of Ballet. Play games, win candy and get your ghastly groove on with our delightfully spooky zombie orchestra. Dress up if you dare – costumes are encouraged!

Speed Painting on October 24th: Join in for an exciting night of speed dating at Artsy Kreations! The evening will begin with a meet-and-greet, allowing everyone to get to know each other before the speed painting rounds begin. During the speed-painting portion of the event, participants will rotate canvases, creating unique abstract art. At the end, each participant will get to choose a piece to take home. This event has been curated for singles who want to have a fun experience and meet others for the purpose of friendship. You will meet others of all ages and genders at this event. Register now!

E-Commerce & Friends Meetup + Social with Jasmin McGinnis on October 24th: Join Elevator at their E-Commerce & Friends Meetup + Social! Stop by, grab yourself a drink and be ready to hear captivating stories of business, advice, best practices, and bring your questions during our Q&A portion. This event features Jasmin McGinnis, co-owner of Barista’s Daily Grind, a specialty coffee shop in Kearney, and the CEO of Cup of Coa, a luxury gourmet cocoa company. With over two decades of experience in the coffee industry, Jasmin has been featured on the cover of Barista Magazine, and her shops hold multiple coffee championship awards. You’re not going to want to miss out so bring a friend and join in!

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 Brooke Wrazidlo and Tiffany Gray.

The U.S. Chamber of Commerce has appointed Greater Omaha Chamber president and CEO Heath Mello to its Committee of 100. These leaders advise the U.S. Chamber’s board of directors, enhance lobbying and coalition work, recommend programming and strengthen outreach to the business and chamber communities.

Applied Underwriters Aerospace, part of Omaha-based Applied Underwriters, has named space insurance industry leader, Richard Parker, as chairman of the Washington, D.C.-based group. The company is developing more flexible and customized coverage options for new technologies including small satellites as well as moon and Mars missions.

The Greater Omaha Chamber is a catalyst and connector, advocating for businesses small and large. Learn, share and grow with more than 12,000 professionals from 3,000 member businesses across Greater Omaha. Click HERE to see our latest events.

Wall Street was born under a buttonwood tree in lower Manhattan in 1794, when 24 brokers got together and signed the Buttonwood Agreement. As a harbinger of things to come, the only thing mentioned in that agreement were the fees they would charge the public for their services.

In the decades and centuries that followed that historic moment, the descendants of those original Wall Street brokers have concocted a plethora of investment processes to justify their fees. While many were founded on sound financial premises, their application in today’s electronic, internet world has fallen on hard times and need to be replaced with methods that are more in keeping with the current market infrastructure.

Let’s begin with the 60/40 stock/bond portfolio split. This time-honored money maker begins with the premise that stocks are safer than bonds. Back in the day when stock transactions were recorded in a black book, your local broker would put you in the model, then on a regular basis, would rebalance back to the original allocation. This required time and effort on the part of the broker – possibly justifying a fee.

The past five years of Fed hyper activity regarding interest rates have thrown this approach into a tizzy. After four decades of positive bond performance, rising interest rates have flummoxed a horde of newbie brokers, because their supposedly safe bond positions have turned into a flaming bag of dog droppings. Throw into the mix the fact that most of these 60/40 portfolios had gone from hand manipulation to rebalancing by a distant whirling server farm. Fortunately for their investors, the surge on the stock side of the equation was strong enough to keep the portfolios in the black, keeping the brokers revenue steam intact.

The other activity/commission generator in the traditional brokers quiver was changing industry sectors as the economy moved through the various stages of the business cycle. When the economy was booming you bought growth stocks such as tech, travel and entertainment. When the economy slowed, you moved into defensive mode and bought consumer non-discretionary stocks such as energy, clothing and food.

According to a recent article in the Wall Street Journal, A.I. has cobbled this whole sector-scramble thing up. The artificial intelligence boom has boosted the Magnificent Seven, (Amazon, Alphabet, Apple Meta, Microsoft, Nvidia and Tesla) to such a size that they blur the lines between consumer discretionary and the growth sector. And they are all in the top ten of the S&P 500.

Fear not as all is not lost. For those seeking an effective and efficient way of replacing Wall Street’s outmoded activity-generating portfolio models, look no further than a plain Jane index fund (my apologies to anyone named Jane).

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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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