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Weekly Market Report – September 21, 2023
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Restaurant & Retail Updates
The Melting Pot plans to reenter the Omaha market and is actively looking for a local franchisee. The fondue restaurant chain operated at Village Pointe for several years. In fact, Village Pointe, along with Regency and Midtown, are being targeted for a new location. Based in Tampa, Fla., The Melting Pot has 97 locations. Last year, 78 percent of its stores achieved record sales.
Koi Sushi & Teriyaki Bowl is now open in the former Rebel Monkey space at 16919 Audrey Street southwest of 168th & Harrison Street.
Construction has started on Nebraska’s first Hawaiian Bros. Island Grill next to a Tidal Wave carwash in Wick’s Southpointe development southwest of Interstate 80 & Highway 370 in Gretna. Opening is planned for mid-January. The local franchisee, DKPM Investments, eventually plans to open four Omaha metro locations and several others throughout Nebraska and western Iowa.
Runza has opened a new location at 5345 South 204th Street in the Coventry area just south of Q Street.
B & G Tasty Foods at Nebraska Crossing has added a bar. The restaurant opened for business earlier this summer, bringing back a beloved local restaurant brand that had operated for decades at 78th & Dodge Street. Among other cocktails, B & G’s new bar features a Bloody Mary that comes with a Cheese Frenchee.
Satisfy multiple cravings in one building – The Starbuck’s Coffee store southeast of 114th & West Dodge Road is undergoing an extensive remodel. The reopening is planned for late October. And Starbuck’s will be getting a new neighbor – the former FedEx Office is being converted into a store called Roll N’ Smoke.
D1 Training will open at 19251 Grant Avenue on Monday. The group fitness facility employs a sports-science backed training regimen led by certified trainers. Founded in 2001 by former NFL player Will Bartholomew, and based in Nashville, Tenn., D1 Training began franchising in 2017. The brand has more than 85 locations, with 200 additional locations in various stages of development.
Harbor Freight plans to open soon in La Vista at 8016 South 84th Street in Brentwood Square. The tool retailer has existing stores near 90th & Maple and Council Bluffs.
The UPS Store plans to open in Miracle Hills at 759 North 114th Street.
Spirit Halloween has opened a seasonal store in the former Bed Bath & Beyond space in the Shoppes at Aksarben Village near 72nd & Pacific Street.
Voodoo Taco has closed its location at 2615 South 180th Street just north of West Center Road. Other Voodoo locations – downtown, Aksarben Village and Nebraska Crossing – remain open.
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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
The Big Story
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Time to Stroll the Street of Dreams
The Metro Omaha Builders Association’s Street of Dreams heads into its second weekend starting tomorrow. Grow Omaha has toured the eight properties and noticed several unique features in this year’s line-up of luxury show houses.
MOBA has produced the event since 1985 and considers it, “a showcase of innovation, luxury and architectural excellence in home design.” Guests can tour the Street of Dreams homes this Friday through Sunday. Hours are 12 noon to 7 p.m.
Instead of featuring a cluster of houses on one street, as is usually the case, this year’s Street of Dreams is a multi-neighborhood tour. The event showcases eight homes in five neighborhoods. Price tags range from $950,000 to more than $2 million.
“The event is not only a celebration of exceptional homes; it’s also a platform for local builders, designers and suppliers to showcase their talents and contributions to the Omaha building industry,” said Jaylene Eilenstine, MOBA executive director. “This year’s event is multi-site and showcase luxury homes in the newest neighborhoods in Omaha, Elkhorn and Valley.”
Presented by FNBO, the Street of Dreams is typically the area’s most anticipated new home tour.
“Our Street of Dreams builders and their teams have worked diligently, and it’s an honor for them to create an inspirational show that promotes modern living for our guests. As always, homes will be furnished, landscaped and will showcase the latest luxury home amenities,” Eilenstine said.
2023 Street of Dreams Builders:
- Art Of A Craftsman – 2 Custom Homes at Flatwater Lake in Valley, (28406 Laurel Circle & 28420 Laurel Circle)
- Edward Custom Homes – 2 Maintenance Free Villas at Calarosa East in Elkhorn (21101 Laurel Ave & 21112 Laurel Ave)
- Nathan Homes – Custom Villa at Privada in Elkhorn (3003 S 209th St)
- Quest Construction – Custom Home at Linden Estates in Omaha (815 North 132nd Ave)
- R&A Builders – Custom Home at Privada in Elkhorn (20928 Barbara Plaza Circle)
- Thomas David Fine Homes – Custom Home at Legend Trails in Elkhorn (5151 S 225th Plaza Circle)
Home styles include urban Chicago, mountain modern design, industrial farmhouse, European Tudor style and modern transitional.
Several amenities stand out in this year’s tour. A couple of the houses have hidden rooms designed in the “speakeasy” tradition. One house features a massive, screened-in, outdoor living area next to a pool. Instead of normal windows and doors, some of the houses have garage-style doors opening to patios and back yards.
Tickets for the multi-site tour are available for purchase online at MOBA.com and through the MOBA Street of Dreams Mobile App.
Grow Omaha Snippets
Grow Omaha Snippets Sponsored by:
Crews have started building the concrete shear tower – the vertical core, which will house elevators and stairwells, for the $600 million Mutual of Omaha tower under construction downtown. The 45-story, 800,000 sq. ft. headquarters building is scheduled for completion in 2026.
Vacant buildings continue to be razed near 48th & Dodge Street in order to make way for an $82 million, 5-story, 330-unit apartment building. Crews this week removed a couple commercial buildings including a long-vacant gas station.
Mid States Utility and Keizer Refrigeration will build a 50,000 sq. ft. facility at 14289 Prairie Corners Road just north of the Amazon regional distribution center in Papillion, according to the Papillion Times.
Preliminary construction work has started on Omaha’s $440 million streetcar system this week along Farnam Street, according to the Omaha World-Herald. Over the next six weeks, workers will drill 600 excavation holes to identify utilities and other infrastructure under the planned route. The streetcar is scheduled to open in late 2026 or early 2027.
Construction has started on an industrial-flex building at 602 North 210th Street between the Union Bank & Trust Sports Complex and West Dodge Road. Bay sizes range from 2,379 to 14,479 sq. ft., according to Investors Realty, Inc. The building will be ready for occupancy next year.
With the help of $1.1 million in congressional community project funding, Habitat for Humanity of Omaha and the City of Omaha will revitalize and expand Myott Park in north Omaha. Groundbreaking is tomorrow. The 5-acre park will be part of Habitat for Humanity’s $25 million Bluestem Prairie affordable housing development located on the site of the former Wintergreen Apartments near 52nd & Sorensen Parkway.
Creighton University has opened its $75 million CL and Rachel Werner Center for Health Sciences Education on the southeast corner of Cuming Street & U.S. Highway 75 (North Freeway). The 5-story building houses the university’s school of medicine and several other health sciences programs.
Sarpy County has had more than $670 million in building permit valuation, according to the Greater Omaha Chamber. Among the permitted projects are Bellevue University’s field house, $18.3 million; H&H KIA, $15.6 million; two Papillion Sanitation buildings, $11.5 million; Smash Park Entertainment, $6 million; H&H Shine Shop, $4.3 million; and the Springfield Library renovation, $2.2 million.
Junkstock was recently recognized as a “Midwest Fall Festivals You Won’t Want to Miss” by Midwest Living Magazine and a “Best Flea Markets in All 50 U.S. States, According to Design Pros” by Apartment Therapy. Junkstock’s “Harvest Edition” takes place September 29-October 1 and October 6-8 at Sycamore Farms, just north of 228th & West Dodge Road.
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:
Green Plains Inc. (“Green Plains”) and Green Plains Partners LP (“Partnership”) have entered into a definitive merger agreement pursuant to which Green Plains will acquire all of the publicly held common units of the Partnership not already owned by Green Plains and its affiliates in exchange for a combination of Green Plains common stock and cash.
Nebraska’s unemployment rate remained at 2 percent in August, according to Nebraska Examiner. The national rate was 3.8 percent, up from 3.5 percent in July.
North End Teleservices has made the Inc. 5000 list for the fourth consecutive year, coming in at number 1,605 on the list of the nation’s fastest-growing privately held companies. The Omaha-based company has had a 352 percent growth rate for the past three years.
Omaha-based BBB Midwest Plains has added the Kansas City market to its service area, making it the fourth largest Better Business Bureau in North America, according to Midlands Business Journal. BBB Midwest Plains now covers Omaha, Kansas City, Lincoln and Sioux Falls, S.D.
Werner Enterprises has earned the 2023 SmartWay High Performer Award for the seventh consecutive year. Werner was the only carrier to receive recognition for five different classes in the category for carbon emissions. The award recognizes companies who lead the freight industry in producing more efficient and sustainable supply chain transportation solutions.
Baird Holm was recognized by the Chambers and Partners 2023 High Net Worth Guide as a Leading Nebraska firm in private wealth law. The guide also recognizes leading individuals in this area, Baird Holm partners Sharon Kresha and Jesse Sitz, both of whom ranked in Band 2. Only 4 percent of lawyers and law firms rank in this global guide. Baird Holm has ranked Band 2 in the High Net Worth Guide since 2019.
Union Pacific Corporation will release third quarter 2023 financial and operating results on Thursday, Oct. 19 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.
Try Hard Logistics has leased 148,229 sq. ft. in a new industrial building at 909 South 135th Street in Papillion, according to John Meyer of NAI NP Dodge, who represented the tenant. Try Hard Logistics is an Omaha-based dry storage and logistics company.
Council Bluffs Area of Chamber of Commerce has been awarded a $5,000 grant from Google to further develop and expand its GrowCB program, an innovative partnership designed to connect school districts with local businesses, to provide students with invaluable work-based learning opportunities.
For the first time since March of this year, the Creighton University Rural Mainstreet Index sank below growth neutral for September. The monthly survey queries bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The September reading was 49.5. A score of 50.0 represents growth neutral.
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 Residential
Federal Housing Finance Agency Metro Area Rankings
By Joe Finlay
Omaha currently ranks in the top 20 markets for year-over-year housing price increases. Every calendar quarter, the Federal Housing Finance Committee (FHFA) analyzes data from the top 100 markets and releases its Housing Price Index. For the second quarter of 2023, the Omaha-Council Bluffs area ranked 18th.
Single family housing prices in Omaha are up about 6.2 percent over the same time last year, and up 1.9 percent compared to the first quarter of 2023.
The report included a few more interesting bits of information:
Tulsa ranked number 11 with a 7.2 percent pricing increase over last year.
Kansas City ranked number 20 with a 5.9 percent pricing increase over last year.
St. Louis ranked number 27 with a 5.6 percent pricing increase over last year.
Camden, N.J. ranked at the top of the list with a 10.6 percent increase over last year.
San Francisco ranked at the bottom of the list with a 12.2 percent decrease over last year.
Twenty-five of the top 100 markets experienced a negative pricing gain.
Omaha traditionally ranks in the middle of the pack in the FHFA quarterly report. This shows that housing prices in Omaha have weathered the storms over the years avoiding any severe drops in value.
Since 1991, the national compound annual growth rate for house prices has been 4.4 percent, and since 2012, it has been 7.5 percent. That means, on average, housing prices have increased more than 7 percent per year for the past 10 years.
Each neighborhood can experience different pricing gains. Let’s connect and talk about the value of the houses in your neighborhood.
Grow Omaha Residential is developed and sponsored by Joe Finlay, REALTOR with NP Dodge Real Estate.
Grow Omaha University
Leadership & Sales Insights for Ambitious People
Sponsored by Dundee Bank
LEADERSHIP & MANAGEMENT
Facilitation skills are quite useful for leaders. Instead of providing the group with all the answers, the facilitator helps the group arrive at good solutions. Facilitated decision making makes employees feel like they have a stake in the outcomes. That doesn’t mean a leader should be passive, rather the goal is to create an environment where people want to give you their best ideas.
For the latest example of eye-rolling, corporate buzzwords, we have “feedforward.” The word “feedback,” especially used in the context of performance reviews, induces a lot of anxiety, according to a Wall Street Journal article by Alexandra Bruell. “Feedforward” encourages improvement and development, its proponents say. That’s not all. Managers at Microsoft are encouraged to use the word “perspectives” instead of traditional feedback. “Reviews” have been rebranded as “connect” conversations.
If you’re worried about the future of humanity, this might not assuage your fears. Gen Z Americans would rather be online influencers than astronauts, according to The Hustle. One in four Gen Zers hope to become internet influencers with 20 percent of men and 13 percent of women saying it was their only intended career path.
Labor stoppages from strikes resulted in a total of 4.1 million missed days of work, according to the Wall Street Journal, the biggest monthly total since August 2020.
Corporate jargon isolates young workers who don’t know meaning of phrases like “deep dive,” “move the needle” and “low-hanging fruit,” according to Fortune. Approximately, 69 percent of younglings say their colleagues speak too much jargon at work, according to The Register, while only 38 percent of graybeards have the same misgivings.
What are the best and worst times to prospect for new business? According to sales expert Chris Corey, the worst time is when your sales funnel has dried up. Read his insightful article on prospecting success HERE.
Sales reps sometimes fail because their personalities and experiences don’t match their job. If you have a salesperson who has sold to middle-management-level customers his whole career, and has a “mid-level mentality,” don’t be surprised if he is unsuccessful selling to C-suite decision makers.
It takes an average of 18 calls to actually connect with a buyer, according to Spotio. That seems a tad high to me. In my experience, it’s more like eight to 12.
Not every company has the time or budget for in-person sales training. That’s why Jeff Beals and his partners and I created BragBird, a 24/7, cloud-based sales-training program. I strongly recommend you take it for a test drive – Try a free sample module HERE.
“The bitterest tears shed over graves are for words left unsaid and deeds left undone.” – Harriet Beecher Stowe
Did You Know?
Surprising Facts, Figures & Points of Pride That Make Omaha Unique
This section is sponsored by Lockbox Storage.
Did you know that the largest for-profit employers in Omaha are First National Bank, Mutual of Omaha, Fiserv and Union Pacific?
Did you know Omaha’s median age is 36.1 and that 34 percent of the population is 24 years old or younger?
Did you know a Chicago newspaper in 1869 published an unflattering poem about the then-frontier city of Omaha? It also appeared in Harper’s magazine and told of our city’s tendency to abuse alcohol and engage in immoral activity. Here’s how it ended: “…Where everything is overdone and everyone is underpaid. If not take heed to what I’m saying, you will find it just as I have found it, and if it lies upon your way, for God’s sake readers, go around it.”
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.
Upcoming Events in the Metro
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Night Market on September 22nd: Join others and immerse yourself in a vibrant event filled with activities and attractions suitable for anyone. You’ll be able to explore the Vendor Village, containing more than 40 local makers and boutiques, while enjoying the live music, games and entertainment! You can expect performances by local favorites like Blues Ed students and many more. There will be plenty of treats and refreshing beverages from the acclaimed restaurants in the Midtown Crossing neighborhood for you to enjoy throughout the event! And of course, lots of outdoor games for everyone to join in on. Come out for an evening of local shopping and fun!
22nd Annual Oktoberfest on September 22nd & 23rd: Celebrate the 22nd annual Oktoberfest at Beer Corner USA with fellow attendees. Families are welcome! There’s a $5 entrance fee per day, payable in cash at the door. Those under 21 can attend for free with a parent. Enjoy a wide selection of German beers with more than 20 options available on tap outdoors. Savor authentic German cuisine from the Crescent Moon Grill and groove to live music on both Friday and Saturday nights!
90s Retro Fest on September 23rd: Are you ready to step back in time and experience the best of the 80s, 90s and early 2000s? The Epilepsy Foundation and Scriptown Brewery are thrilled to bring you a one-of-a-kind 90s-themed bar stroll and block party! There will be a VIP pre-party at Scriptown Brewery, a Stroll through your favorite Blackstone Bars and Restaurants, an ultimate 90s Street Party with a live performance by Inside-Out (The Midwest’s Ultimate 80s, 90s, and early 2000s cover band) and a 90s best dressed costume contest. Come out for a good time and to support the nearly 20,000 Nebraskans, including 2,800 children, living with the challenges of epilepsy!
Sleeping Bag Safari – 21+ Grown Up Safari on September 23rd: Come out for an overnight program where adult guests spend the night at Omaha’s Henry Doorly Zoo and Aquarium’s Safari Tent Camp site and experience the exhibits after hours. Program includes a picnic dinner and drinks, an evening hike, movie, snacks, “grab-n-go” breakfast, morning hike and free day at the zoo. This event is 21 and over only and happening on select dates through October. Make a reservation and save your spot for a night experience at the zoo!
Night Light on September 28th: Unwind and rekindle your curiosity during Night Lights at Kiewit Luminarium! This 21+ event is happening Thursday evenings from 7-10 p.m. You can grab a drink, mingle and play with more than 100 interactive exhibits during an adults-only evening of discovery and fun on the riverfront. Make sure to check out the hands-on activities in the Maker Space and learn with Luminators. You can purchase your ticket at the door, but reservations are highly encouraged!
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
Joann Sweasy has been named director of the Fred & Pamela Buffett Cancer Center and the Eppley Institute for Research in Cancer and Allied Diseases at the University of Nebraska Medical Center. A National Institutes of Health-funded researcher since 1994, Sweasy currently is director of the University of Arizona Cancer Center. As UACC director, she led the center to renewal of its National Cancer Institute-Comprehensive designation in 2022. She will begin her new roles November 1st and will replace Ken Cowan, who has led the cancer center since 1999.
Fusion has appointed Corey Watton as president & CEO. He has been the company’s CFO since 2019. Fusion consists of three business units, including Fusion Medical Staffing, Fusion Marketing and Fusion Workforce Solutions.
Steel Dynamics, Inc. of Fort Wayne, Ind., has appointed Union Pacific executive vice president & CFO Jennifer Hamann to its board of directors. Hamann, 56, will serve as an independent director and participate as a member of the audit committee. She has been with Union Pacific for more than 30 years.
Metonic Real Estate Solutions has promoted Josh White to senior vice president of investor relations. Since joining the firm in 2020, White has raised more than $80 million in capital for Metonic acquisitions and developments.
Lamson Dougan & Murray, LLP has added attorney Josh Baumann to its Omaha office. He was previously deputy county attorney in the Douglas County Attorney’s Office. The firm also promoted Sarah Rotermund to executive director. She was previously director of marketing.
Retire SMART has added Brad Starken as a financial advisor. Omaha-based Retire SMART was founded in 2017 and is one of the nation’s fastest-growing retirement-focused financial planning firms.
Wall Street: The Week in Review
with George Morgan
Morgan is the 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.
The words for this week are “monolithic” and “static.” The stock market is not monolithic, and it is not static.
The purpose of a market is to bring buyers and sellers together to establish a price agreeable to both parties. The stock market is not monolithic because there are multiple participants involved in establishing the price of an individual stock. They all have their own separate paradigm on how the pricing mechanism works.
Fifty years ago, most investors – any human, company or electronic device who buys and sells stocks – made investment decisions based on economic and financial data. Today, there are high-speed traders, day traders, index fund traders, algorithm traders, short sellers, hedge funds and so on. They’re all buying and selling in the same market, each with a different paradigm.
The stock market is not static because the participants are constantly changing, along with the infrastructure that allows trading to occur. Fifty years ago, 100 percent of all trades went through a specialist standing on the floor of a brick-and-mortar exchange. The only way to access a specialist was through a company who owned a seat on the exchange. Today, mom and pop can trade on their cell phones without talking to, or paying, a human standing in an exchange.
Several recent articles in the Wall Street Journal add credibility to the above assertions. The first article reported that options trading by individual investors has increased significantly in the past few months. An option is like the futures on corn, pork bellies – oink not included – and other commodities. It allows the options traders to buy or sell stock at a specific price at some future date. The reason that this is important is because trading in the options market trickles down to the stock market.
The next article reported that trading activity by individual investors is at an all-time high, around 12 percent of the total daily volume. Whether this figure is number of trades or dollar volume is unclear. We know that most of mom and pop’s money is in index funds, therefore a significant portion of the trade volume is probably in index funds, i.e., trades not based on company financial fundamentals.
Moral of the story; while all of this is only circumstantial evidence, what is clear is that the market is changing and stock pricing is not solely based on economic fundamentals. Therefore, forget the needle, buy the haystack.
Quantum Fiber Expanding Fiber-Fast
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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.
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