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Weekly Market Report – October 23, 2021
Starbuck’s is planning to open a free-standing store with a drive-through on the northeast corner of 42nd & L Street. Meanwhile, the Starbuck’s under construction at 86th & Dodge will open in January.
The “Coming Soon” sign has been installed on a former gas station and rental car building on the north side of Dodge near 86th Street. Work will begin soon on a Little King restaurant planned for the site. Opening is scheduled for next year.
Allens Home, a long-time furniture retailer at 7808 L Street is closing its 44,000 sq. ft. store to make way for a different business which is purchasing the property. Allens Home plans to reopen next spring in a smaller, yet-to-be announced space not too far away.
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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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Another Massive Construction Project at UNMC
The University of Nebraska Medical Center has selected Omaha-based T&G Investments to lead the design and construction of a new administrative building on the emerging Saddle Creek campus. The new building will be constructed on the southwest corner of Saddle Creek Road and Farnam Street.
The 350,000 sq. ft. building will house several functions such as providing workspace and collaboration for clinical faculty as well as serve as the administrative headquarters for many university and health care system functions.
“This project is a keystone development connecting the main body of campus to the new Saddle Creek site and will replace an end-of-life facility for UNMC,” said Brian Spencer, director of facilities and clinical space planning at UNMC and Nebraska Medicine. “It will remove space pressure from the critical areas in the clinical and teaching core of campus while still allowing easy access to campus while helping further our sustainability goals.”
The developers selected Leo A Daly as the architecture firm and McCarthy Building Companies as the general contractor.
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Grow Omaha Snippets
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Construction will begin this fall on the Sundance Townhomes at the Avenue One development near 192nd & West Dodge Expressway. This 251-unit, $65 million project is led by Timberland Partners and will feature 21 buildings ranging from 8 to 16 units per building. The project includes a high-end clubhouse and swimming pool.
Heartwood Preserve Update – Union Bank’s 5-story office building on the southwest corner of 144th & West Dodge road is topped out, meaning the highest piece of structural steel has been installed. Workers are just now starting to install the exterior walls. Immediately to the south, grading has started on a 5-acre lot that will eventually turn into the Shoppes at Heartwood, a 40,000 sq. ft. retail center opening in 2022.
The October edition of our Brad Williams Construction Update video is available. This month focuses multiple downtown development projects all over the metro. Watch the video HERE now!
Footings and foundations are in place for an H&H Chevrolet dealership on the far north part of the Steel Ridge Development (northeast of Interstate 80 and Highway 370). The dealership will have a 65,000 sq. ft facility on 12 acres. Opening is planned for January of 2023. Opening at the same time will be an 8-acre processing center for all six vehicle franchises at Steel Ridge with parking for 1,500 vehicles.
Construction continues on the Juniper Rows at Deer Creek project at 120th & Ida Street. This complex will include 17 buildings totaling 92 units. Each unit will be three stories with garage space on the first floor. The second floor will have the kitchen and living room. Bedrooms and laundry are on the third floor. This is one of the projects included in this month’s construction video.
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Local Business News Sponsored by FranNet of The Heartland:
Real Estate News from CoStar – A unique home construction startup company known as “Icon,” is partnering with Lennar Corp., a giant Florida-based homebuilder, to develop the largest 3D-printed neighborhood in the world. Yep, you heard that right – the foundations and walls of the houses will be created using a gigantic 3D printer. The roof, HVAC and finish work are built with traditional materials. Construction will kick off in 2022 in an undisclosed part of Austin, Tex.
Icon developed its own printer called the Vulcan 3D that uses a mix of concrete, plasticizer, aluminum, calcium, silicates and water as a filament, or the ink, to 3D print the homes. The filament flows out of the printer like thick, concrete-like ribbons stacked on top of each other. Icon estimates that its technology can cut costs by between 20 and 30 percent. A 1,500 sq. ft. house takes only about a week to print.
After 20 months, travelers are looking for a change of environment, according to Sojern, a travel-related marketing firm with a major operation in Omaha. A recent spike in flight searches indicates that they’re raring to go. Shorter booking windows show hesitance to commit to long-term travel plans. Still, the opening of Vaccinated Travel Lanes is the first step to reopening borders and ensuring travelers feel safe in the long run.
The Port of Long Beach, the Utah Inland Port Authority and Omaha-based Union Pacific Railroad have announced an initiative to bring rapid relief from existing port congestion by optimizing rail deliveries between California and Utah.
AMCON Distributing Company, an Omaha-based consumer products company declared a quarterly cash dividend of $0.18 per common share. This cash dividend is payable on November 30th to shareholders of record as of November 5, 2021.
Valmont Industries, Inc., an Omaha-based manufacturer of infrastructure and irrigation equipment, declared a quarterly dividend of 50 cents per share payable on January 14, 2022 to shareholders of record on December 23, 2021. The dividend indicates an annual rate of $2.00 per share.
IndustryWeek highlighted Lozier Corp. in its feature, “Made in America: a Showcase of Manufacturing from Alabama to Wyoming.” One manufacturer was highlighted in each state. Regarding Lozier, IndustryWeek said: “A custom sheet metal fabricator, Lozier creates all of those fancy — and functional — display units showcasing products at retailers everywhere. Lozier is headquartered in Omaha, where it also has two manufacturing facilities.”
Adapt Chiropractic will hold a ribbon cutting November 4th for its new space at 8410 South 73rd Plaza in Papillion.
Can It Get Any Lower? Unemployment rates keep breaking records in Nebraska. The Cornhusker state continues to have the nation’s lowest unemployment rate. September’s rate of 2 percent was the lowest in state history. Omaha’s unemployment rate was 1.7 percent, shockingly low for a city of that size.
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People in the News
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Green Plains Inc. has appointed Farha Aslam to its board of directors as an independent director, filling a vacancy created by the retirement of Gene Edwards in August. Aslam is a leading expert in agribusiness, having covered the sector for more than two decades as an analyst for firms including Merrill Lynch & Co. and Stephens Inc. She is currently managing partner of Crescent House Capital.
Gregg H. Johnson is the new national sales director for Omaha-based Carson Group, one of the fastest growing financial services firms in the nation. Johnson has 15 years of industry executive experience and will lead Carson’s business development strategy and regional sales teams.
Acclaro Valuation Advisors of Omaha has named Paul Hasenjager as senior vice president. He has more than 15 years of experience providing valuations of operating companies, LLCs and family limited partnerships for gift and estate planning, buy/sell agreements and tax reporting.
Ervin & Smith advertising agency has appointed Katie Herzog as Chief Client Officer, Ashley Bails as Chief Marketing Officer and Brittany Wozny as executive director of finance and human resources.
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