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Weekly Market Report – September 22, 2022
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Restaurant & Retail Updates
Chirpy’s Play Cafe will open in a yet-to-be-announced Omaha location this winter, according to Spencer Morrissey of NAI NP Dodge. Chirpy’s is the mixture of a coffee shop for adults and an indoor play space for children. It will offer a full espresso bar plus food items. Chirpy’s will have open-play, educational classes, private party rentals, special events for children and parents as well as a retail area.
The Weekend Lakeside Bar & Grill has opened at 339 Thomas Lake Road in Ashland. The venue offers food and drink in an indoor-outdoor setting overlooking a lake in the Big Sandy area.
Texas de Brazil has announced its Omaha location will open October 10th at 1110 Capitol Avenue in downtown’s Capitol District. The Dallas-based churrascaria restaurant chain has more than 50 locations worldwide.
Phở 79 will hold a grand opening celebration Sunday, October 2nd from 12 noon to 6 p.m. The new Vietnamese restaurant is located at 631 North 114th Street in Miracle Hills.
FedEx Office Print & Ship Center has opened in a newly constructed, free-standing building at 704 North 114th Street in Miracle Hills.
REI Co-op officially opens tomorrow at Nebraska Crossing. The Grow Omaha radio program will broadcast live from the store Saturday morning. The 22,000 sq. ft. store is located between Under Armour and HomeGoods.
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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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The Big Story
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Two Downtown Multi-Family Projects Receive City Council Approval
The rapid expansion of downtown housing units shows no signs of slowing down as the Omaha City Council this week granted final approval to two more projects.
The $28 million Flats on Howard (rendering above) on the southeast corner of 24th & Howard Street will receive $3.2 million in Tax Increment Financing.
Developed by Arch Icon and NuStyle Development, this 6-story building will have 120 market-rate apartments. One-, two- and three-bedroom units will be available. Plans also call for 132 indoor parking stalls and a workout facility.
The former Urban Indian Health Coalition building that once stood on the site has been completely removed. That means construction can start at any time. The immediate area is already home to several “new-ish” apartment projects.
In North Downtown, the Millwork Commons area is about to get another new addition. The Dizzy Mule project at 13th & Izard Street will receive more than $5 million in Tax Increment Financing.
Developed by Black Dog Management and Bluestone Development, the $34.6 million Dizzy Mule will be a mix of old and new. Plans for renovating an existing brick building and adding new construction on vacant lots surrounding the historic building.
The L-shaped, 5-story building will contain 170 apartment units and 18,000 sq. ft. of commercial space. Some of the apartment units will be affordable. Dizzy Mule is a couple blocks north of Charles Schwab Field and just east of the Hot Shops Art Center. The immediate area is also home to the Ashton Building, which has a number of popular retails and food-and-drink businesses as well as the recently opened Hello Apartments.
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Grow Omaha Snippets
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Skyscraper Progress – Barricades are in place around the W. Dale Clark Library building at 14th & Farnam Street. That means the building is moving closer to a date with the wrecking ball. Demolition is scheduled to begin October 1st. Also, the square block to the east has been converted into a temporary parking lot for construction workers.
The Omaha City Council approved Tax Increment Financing for a 5-story, 120,000 sq. ft. office building planned at 15th & Mike Fahey Street. The $57 million building will be constructed of mass timber and is part of the Builder’s District project developed by Noddle Cos.
Mayor Jean Stothert does not plan to extend the “Market to Midtown” protected bikeway pilot program, which is scheduled to end September 30th. The pilot program, started in July of 2021, created a 2-mile bicycle right-of-way along Harney Street. The route is not suitable for a permanent bikeway, because plans call for construction of the new streetcar line on that corridor. The ending of the pilot program does not necessarily mean a permanent protected bikeway won’t be built elsewhere in the urban core.
J Development’s Aksarben Keys project also received approval for Tax Increment financing this week. The $62 million, 255-unit apartment building will be constructed on the site of the former Ramada Plaza CoCo Key Water Resort.
Demolition at UNMC – Workers are now tearing down the former Munroe-Meyer building on the southeast corner of Farnam Street & Saddle Creek Road. The former J.P. Lord School, which had been attached to Munroe-Meyer, is completely gone. The site is being cleared for the planned, $2.7 billion Project NExT.
The Martin Luther King Jr. Pedestrian Bridge, which connects CHI Health Center Omaha to Lewis & Clark Landing, will be closed October 28th through early 2023. The closure is related to construction of the Riverfront Parks and the Kiewit Luminarium.
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.”
Eagle Mortgage Home Loan Services
Eagle Mortgage is a locally owned, full-service mortgage company helping you with Conventional, VA, FHA and USDA loans in both Nebraska & Iowa, including the Omaha-Council Bluffs area.
Whether you are buying a home or looking to refinance an existing loan, Eagle Mortgage can help you realize your dream of homeownership or help you save money by obtaining a lower monthly payment. Eagle has plenty of experience with first-time home buyers too.
Learn more HERE!
Local Business News Sponsored by FranNet of The Heartland:
Real Estate News from CoStar – Sales of existing single-family homes declined for the seventh consecutive month in August, the latest sign of a U.S. housing slowdown.
The National Association of Realtors said existing home sales dropped 0.4% from July and 19.9% from August 2021. The median price for existing homes sold during August rose 7.7% from a year earlier, to $389,500. Rising prices and interest rates are among factors cited for an overall decline in new and existing home sales for the past several months.
Speaking of CoStar Group, the company has been selected for inclusion into the S&P 500 Index, a list of leading U.S. companies across important industries. Companies are selected according to criteria such as market capitalization, liquidity and consistent positive earnings.
AIM Institute has received a $25,000 grant from AT&T for AIM’s Youth in Tech program, which supports low-income students with technology necessary to take part in STEM activities. Establishing access to tech education for younger and more diverse participants is a critical component in addressing the shortage of tech workers in Nebraska. Community leaders involved with the Nebraska Tech Collaborative identified the need to add 10,000 tech workers and 300 new tech companies in Nebraska by 2025.
Streck announced a Series B investment in Ceres Nanosciences of Manassas, Va. The investment funds will be used to accelerate the development and commercialization of both diagnostic and research use products utilizing Ceres’ Nanotrap® technology. This investment builds on the pre-existing partnership between Ceres and Omaha-based Streck, which will join Series A investor GreyBird Ventures on Ceres’ Board of Directors.
Union Pacific Corporation will release third quarter 2022 financial and operating results on Thursday, October 20th at 6:45 a.m. CDT. The Omaha-based company’s management team will host a conference call and live webcast at 7:45 a.m. CDT.
Book Recommendation – Best-selling business author Anthony Iannarino has written his fifth book, Leading Growth. It is written specifically for sales leaders and reveals the mindset, skills and tools necessary to enable revenue growth. Details HERE.
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
Sponsored by MyStaff, Inc.
Compiled by Grow Omaha co-founJeff Bealsder and sales trainer
Leadership & Management
The correlation between technical expertise and the ability to lead humans is almost ZERO, according to MindSet, LLC, and Omaha-based leadership consultancy. That is because ‘leadership’ is a unique skillset.
Did you know the 4th quarter is one of the most productive and profitable times of the year? It’s true. And it’s a timely thing to talk about right now, because the 4th quarter of 2022 is almost here! Below are three reasons why the 4th quarter is so important especially for those companies that engage in B2B activity:
1. Many companies have excess budget they must spend before year end.
2. Budget priorities could have shifted, making buyers more open-minded.
3. Prospective clients may have made more money than anticipated this year, making them flush with cash.
Effective leaders usually practice “protective restraint.” If you have good leadership and communication skills, you’re in demand. People constantly try to get you to volunteer and participate in company-wide projects, committees and task forces that have nothing to do with your core responsibilities. Politically, you need to accept some of these opportunities, but don’t allow yourself to be overwhelmed with “extra-curricular” activities. If you do, it can be awfully difficult to focus on one thing at a time.
Here are some things to keep in mind as you prepare for your next sales presentation:
1. Above all else, focus on what the prospective client values as opposed to just selling your offering’s attributes. You want to be focused on outcomes and not features and benefits.
2. Before a sales meeting, do your background detective work, so you ask knowledgeable questions and make the time spent in the meeting valuable to everyone.
3. Think about building a trusting relationship with the prospect. You do that by communicating well, listening attentively and being honest. Be yourself but be the professional and appealing version of yourself.
4. A presentation isn’t all talk. Make sure to listen as well. In fact, many top producers will actually listen MORE than they talk in a so-called “presentation.”
5. Structure your sales presentation logically and persuasively, taking advantage of human nature. Prospects respond better when the flow of the sales presentation just feels right.
6. When you coach and facilitate your prospects, the hard sell is not necessary.
7. Determine what part of your sales presentation is boilerplate and which part is to be customized. Focus your preparation on the customized part.
8. Cast a vision of how great life will be with your product or service by using a little showmanship during the sales presentation. Paint a picture with your words.
9. Over-reliance on audio/visual aids is one of the biggest mistakes you could make.
10. Two presenters can be better than one, but having too many presenters in a room starts to be a problem.
“Success consists of going from failure to failure without loss of enthusiasm.” – Winston Churchill
“Leadership is an opportunity to serve. It is not a trumpet call to self-importance.” – J. Donald Walters
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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21st Annual Oktoberfest on September 23rd & 24th: Celebrate Oktoberfest with craft beer, live music, and food! This annual event will feature lots of German Biers and a beer garden to enjoy them in. Crescent Moon Ale House will be grilling German food that includes Bavarian pretzels, roasted chicken, house-made schnitzel, and more!
Grown Up’s Getaway on September 24th: Act like a kid at the pumpkin patch, with the grown-up perks of a bar and live music! Enjoy the delicious autumn food from the farm kitchen and drinks by the Down Home Saloon. Jam out to party rock of the 60s-80s with Velvet Elvis. Explore the farm and play like a kid at the Bloom Where You’re Planted Farm and Pumpkin Patch!
Forest Immersion on September 26th: Also known as “forest bathing” or shinrin-yoku, this is a type of nature therapy that immerses your senses, slows down your mind and body, and helps you feel connected with the forest life around you. This hour-long guided session in the woodland trail will allow you to unplug from technology and bring you into the present moment. Take this time to unwind from your work week and feel refreshed and relaxed by deepening your relationship with nature.
Aksarben Village Music Bingo on September 26th: Every Monday is music bingo night at Kinkaider Brewing Co. in Omaha! Start your week off with a light hearted bingo tournament and increase your tournament points. Come out to enjoy the food. Drinks, and diverse music categories!
Mug.News Social on September 27th: Join the community in supporting one another and expand your network! Mug.News Social highlights startups and entrepreneurs within the Omaha area and provides a space to learn about your community. This monthly event features local businesses, investors, and startups.
Tunes on the Green & Makers Market on September 29th: Enjoy the new venue space in downtown Ralston with music and local vendors! The Granary Green will have live blues music, local artisans, food, and more. This event is free and family friendly!
Hook & Lime Sunday Brunch: Sunday Funday and an all-day happy hour! Enjoy gourmet tacos and tortas (and a lot more) from a scratch kitchen. Tequila-centric craft mimosas, margaritas, infused tequilas, and local beer. Happening every Sunday at Hook & Lime!
Eagle Mortgage can help you realize your dream of owning a home.
People in the News
Sponsored by Baird Holm Attorneys at Law
WoodmenLife has appointed Ryan Jenkins as director, treasury. He began at WoodmenLife in 2019 in financial planning and analysis. Prior to joining WoodmenLife, Jenkins worked at National Indemnity Company as a compliance administrator and served as an adjunct instructor at National American University. He has an undergraduate degree in Accounting, Financial Markets and Investment Strategy from the University of Nebraska at Omaha and a Master of Business Administration degree from Creighton University.
NP Dodge Real Estate has added two new residential sales associates: Kim Earl and Kreig Lacey.
Frankel Zacharia has named Kelsey Rollins as senior accountant. She has been with the firm since 2020. She holds a Bachelor of Science degree in Accounting and a Master of Science degree in Accountancy both from Bellevue University.
Hannes Zetzsche, an associate attorney with Baird Holm LLP, has been named to the Kids Can Community Center board of directors. Zetzsche helps clients with real-estate matters involving agriculture, energy, the environment, and natural resources. Kids Can is a licensed early childhood care provider.
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
The broken record continues to drone on. The only thing Jim Cramer and his acolytes can yammer about is what the Fed and its erstwhile leader, Jerome – I refer to him as Big Jer – Powell is thinking.
Big Jer and I have something in common; we both suffer from delusions of adequacy. (Something my wife reminds me of once a week) The media and the egomaniacs in Congress had anointed the Fed with the impossible task of lifting the yoke of inflation off the backs of the millions of middle-class voters. This totally ignores the fact that their irresponsible spending and regulatory programs have contributed to this mess.
The only arrow the Fed has in its quiver to pull back the inflationary lever is the fed funds rate. The fed funds rate is the interest rate the Fed charges the big Wall Street banks to borrow operating capital.
Every month the muckety-mucks at the Fed, along with big Jer, get together and decide what the interest rate should be in order to slay the mighty fire-breathing inflation dragon. This reminds me of the Dutch boy with his thumb in the dike.
The total value of the bond market is about $60 trillion dollars. Every day more money changes hands in that bond market than it does in the stock market, and those hands are at the end of arms belonging to thousands of bond traders at all the big Wall Street banks.
Just recently the New York bond guys have pushed the yield on the 10-year treasury bond, which is the benchmark for the bond market, to a decade-long high of 3.5%. To put this in perspective, a year ago it was around 2.25%, so it has risen over 50% while the Fed is aiming at a rate increase in the 10% to 15% range.
Now back to the pachyderm thing from last week. When the bond guys at Goldman and Morgan Stanley put on their big boy pants in the morning, they aren’t thinking what level of interest rate is best for the county. They couldn’t care less. What thy are thinking is “If I sell a billion dollars’ worth of T-bills, I can get my new red Ferrari.” Moral of the story: the Washington hacks and their media cronies only see the elephant’s tail when the real action is at the pachyderm’s other end.
While the current 10 -year treasury is yielding 3.5%, its historic norm is 4.5%. There have been times where it has approached 5.25%, so we are still a long way from Armageddon.
In conclusion, let me share a gem of wisdom from the Gnomes. In all probability, Mr. Market will continue down this thorny path until he is emotionally drained and moves on to some new, yet-to-be-named phobia. And since Mr. Market is manic depressive, that phobia could either be good or bad for investors. In the meantime, as always, “Forget the needle, buy the hay stack”.
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