Weekly Market Report – September 26, 2024

Nicole Buntgen, Contributing Writer

Tracks Lounge, a local dive bar famous for its chicken, announced plans for a second location in west Omaha in a retail strip near 181st & Q. The announcement comes in conjunction with the bar’s 60th anniversary, which will be celebrated in 2025. The original Tracks is located just east of Aksarben Village at 1506 South 60th Street.

Williamsburg Pizza and Stories Coffee will share a restaurant building now under construction northeast of 156th & Spaulding (just north of West Maple Road). Years ago, the site was home to Hollywood Diner. Locally owned Stories Coffee has existing locations at 114th & Dodge, 156th & Dodge, Midtown, Gretna and 108th & Q Street. Williamsburg Pizza started in New York City and opened its first non-New York location at 168th & Harrison Street in Omaha. Williamsburg also plans to open a location in a planned 5-story, mixed-use building to be constructed at 72nd & Farnam Street.

Before the end of the year, Paradise Bakery & Café plans to move from Village Pointe Shopping Center to Nebraska Crossing in Gretna. according to John Sgourakis, who manages the restaurant. Paradise will be opening in an end-cap with a drive-thru lane on the northwest corner of Nebraska Crossing. It was most recently occupied by B&G Tasty Foods. Most Paradise Bakery locations have been converted into Panera restaurants. The only remaining Paradise Bakery besides Omaha is in Dallas.

Sip and Spice, a Thai food and boba tea restaurant plans to open soon in a retail strip center’s end-cap space 6610 South 168th Street. Located just northwest of 168th & Harrison Street, the space was formerly occupied by Cheeseburgers – A Takeout Joint.

Frosted Pine Coffee, a coastally-inspired coffee concept, will open on September 30th at 2701 East Kanesville Boulevard in Sherwood Plaza near Bomgaars in Council Bluffs. Branded as “a taste of Seattle, WA in Council Bluffs, IA,” the veteran-owned, drive-thru stand roasts through Dillanos Coffee Roasters in Washington and sources baked goods from Wenday’s, a local bakery in Council Bluffs.

A new sweets shop is coming soon to Ashland. Bluejays Ice Cream & Candy plans to open in downtown Ashland at 101 South 14th Street. Tentative opening is set for October-November. The shop will feature 44 unique ice cream flavors, including gluten and dairy-free options, with varieties like Playdough, Superman, Graham Central Station, Pumpkin, Eggnog and more.

Interior renovations are now underway on a future Wingstop restaurant at 17676 Welch Plaza in the Hawthorne Court shopping center near 180th & Q Street. The Dallas-based chain of chicken-wing restaurants has seven existing Omaha area locations.

Châm Pang Lanes and Ghost Donkey officially opened earlier this week in next-door, connected spaces in the Brickline building northeast of 10th & Harney Street. Châm Pang Lanes, which also has a location in Phoenix, is a duckpin bowling establishment with an upscale club environment. Ghost Donkey is a mezcal and tequila bar with locations in multiple cities. Both concepts are owned by Omaha-based Flagship Restaurant Group.

The Blackstone Meatball has announced it is closing both locations at 3910 Harney Street and 19101 Chicago Street. The last day of service will be this Sunday — September 29th. The restaurant started eight years ago in the Blackstone District. As the name indicates, meatballs are the star of the show, but the menu includes several other (mostly Italian) items.

Saro Cider, a cidery with locations in Omaha and Lincoln, announced that its Omaha space will close on September 28th as it transitions into Saro Event Lounge, a private event rental space that will also host occasional pop-up events. Saro’s Lincoln taproom will continue to operate as usual.

Can’t decide where to go? Grow Omaha has partnered with local marketing expert Cam Vacek to bring a very useful restaurant resource to our readers. Before you go out, check our lists of Daily Restaurant Specials, Happy Hours, Party Rooms and local Coffee Shops. We even have a list of birthday party ideas!

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!

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‘Dolce’ is an Inspired Journey into Fine Dining

Dolce means sweet in Italian and originally started as a bakery. Owner and Chef Anthony Kueper bought Dolce in 2017 and quickly implemented his spin on fine dining.

Kueper was a James Beard semifinalist for Best Chef: Midwest in 2022. He grew up in a military family and got to know a wide variety of culture and cuisine. His culinary career began in high school where he took a couple of basic cooking classes. He later graduated from culinary school.

He has worked for the Ritz Carlton Company and helped earn Claasenhof, a restaurant in Germany, its second Michlelin star. Now at Dolce’s helm, Kueper is putting out some wonderful dishes. When these plates arrive at your table, you’re treated to a culinary experience that’s both visually stunning and indulgently delectable.

On our first visit, we took a journey through the four-course pre fixe tasting menu. Currently priced at $45 per person, this is a delightful way to experience three mouth-watering choices per course.

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City Council Approves $862 Million Crossroads Redevelopment Plan

The Omaha City Council formally moved forward with the latest proposal for The Crossroads at 72nd and Dodge Street. Salt Lake City-based Woodbury Corp., the new developer, plans to invest $862 million to convert the site into a massive mixed-use development.

As previously presented, the Crossroads project will be built in phases, with Phase 1 consisting of the development of three lots. Lot B on the north side of the overall development site borders Cass Street. A multifamily building and parking garage are planned for Lot B and will be the first to go vertical starting in 2025. South of Lot B is Lot E, which will serve as a town center boasting public space surrounded by retail. The lot west of Lot E, Lot D, will have an unidentified entertainment center. Both Lot D and E will have underground parking.

In an effort to have more control over the projection of the development, the City will purchase the land and lease it to the Woodbury. The City will also own the parking garages and lead the design and engineering of those structures. Additionally, the City will have rights to enforce maintenance of the property. As part of the agreement, Woodbury has a soft deadline to complete the entirety of the project by 2032.

While the project has appeared to be inactive for some time, the developer explained that more than $35 million has been invested in the infrastructure to support the development. With the infrastructure in place, the involvement of the new developer and the modified arrangement with the City, the new developer is confident that construction will pick up pace once they start next year including development of the other lots.

Woodbury expects construction to go vertical next spring.

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Isaiah Ang, Contributing Writer

VASA Fitness plans to take over a former No Frills Supermarket in Bellevue. The Bellevue planning board is reviewing a request to rezone the property at 909 Fort Crook Road from light manufacturing to general business. This would reverse the zoning approved in 2017 when Marathon Equity, LLC, intended to expand its coffee bean and nut processing facility. Aside from the use of the property, there are minimal changes to the footprint of the existing structure.

Orem, Utah-based VASA Fitness opened its first Nebraska gym at 14445 West Center Road earlier this year. The new Bellevue location would be just south of Bob’s Fitness Center in the Southroads Mall.

Bluestone Development and Brester Construction have started groundwork on The Nook apartments, which will surround Pine Elementary School near 8th & Pine Street. The project includes 10, 3-story buildings with a total of 250 units, including both apartments and townhouses. The 4.7-acre site was once part of the now-defunct Grace University. The buildings will be on four different streets – Pine, 8th, Worthington and William streets.

Developers are moving forward on a dormant multifamily residential project on the southeast corner of 38th & Dodge Street. The project went through the approval process in 2022 and required demolishing four residential buildings. It has been on hold as the developer reviewed comments the city had on the original plan. Now the developer plans to move forward. The 5-story building will have 132 residential units. The apartments will be built on a podium that will have two levels of parking and 122 parking spaces. While the permit information does not confirm this, the original plans indicated there would be some retail space on the ground floor along Dodge Street.

Plans are in the works to develop a long-vacant parcel on the southeast corner of 25th & Capehart Road in Bellevue. According to planning board documents for site approval, the developer plans to build a coffee shop with drive thru and an auto parts store. Although site plans are available to review, specific brands for the new retail building were not identified.

Work has started on the parking garage that will serve the future $150 million central library on the southwest corner of 72nd & Dodge Street. The 4-level, 96,000 sq. ft. building is scheduled to open in 2026 and will serve as the flagship location for City of Omaha’s library system.

Workers are framing the Leavenworth Lofts project, a 5-story, 28-unit apartment building located at 3612 Leavenworth Street. The developer is Sullivan. Unique to Leavenworth Lofts is a short-term rental option for units on the lower level as well as a gallery in the lobby that will spotlight rotating exhibits by local artists.

Initial construction has started on the Mid-American Energy Adventure Tower just north of the Bob Kerry Pedestrian Bridge along the Missouri River in Council Bluffs. The 138-foot tall observation tower will have multiple platforms on different levels taking visitors above the trees to experience the river, woodlands, and city views. An adventure course will provide challenging outdoor activities, including an outdoor 50′ climbing wall, simulated caving experiences, and a 480-foot-long roll-glide ride.

The tower will be built above the flood zone to allow opportunities for use when the Missouri River levels fluctuate. An elevated walkway from the levee provides access. The structure will be supported by piles driven to bedrock and designed for flood conditions, including the potential impacts from ice.

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The Omaha Storm Chasers will soon be under new ownership, according to a press release from the Triple-A baseball team. Alliance Sports has entered into an agreement with Diamond Baseball Holdings to sell the team. Diamond Baseball Holdings was formed in 2021 and currently owns more than 30 minor league baseball teams in the United States and Canada. The Storm Chasers will continue to play at Werner Park. Gary Green, co-founder of Alliance Sports, says his organization will now have a full-time focus on Union Omaha. He announced plans earlier this year to build a sports arena and mixed-use district near the Gallup campus downtown.

Chase, the nation’s largest bank, is on track to open four new branches in Omaha by the end of this year: 90th & West Maple Road opened July 16th; 195th & Highway 370 later this fall; 8650 South 71st Plaza in Papillion this fall; and 137th & West Maple Road this winter. Chase has branches in all 48 lower states including seven in the Omaha area.

The Los Angeles County Metropolitan Transportation Authority has selected Omaha-based HDR to provide the final design of the North Hollywood to Pasadena Bus Rapid Transit Corridor Project. The new BRT system is expected to result in travel time savings of 34 to 44 percent over existing transit services. The corridor includes 22 new stations over 19 miles. Buses will use dedicated lanes on most of the route.

Omaha-based Applied Underwriters this week announced Applied Crisis Underwriters, a new division within its United Risk subsidiary set to launch this December. The newly formed specialty enterprise, based in London, will meet the increasing demand for political risk insurance coverages globally, focusing on property damage, business interruption, and liability.

Warren Buffett’s Berkshire Hathaway unloaded more Bank of America stock in recent days, a filing late Tuesday showed. After selling nearly $863 million of shares from Friday through Tuesday, Berkshire owned 10.5 percent of Bank of America, according to the Wall Street Journal.

Werner Enterprises, Inc. will release its third quarter earnings on Tuesday, October 29 after the market close. The company will also hold a conference call to discuss the third quarter results and 2024 outlook on the same day, beginning at 4:00 p.m. CDT.

Union Pacific Corporation will release third quarter 2024 financial and operating results on Thursday, Oct. 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.

Blue Cross and Blue Shield of Nebraska has been named as one of America’s Best-In-State Employers for 2024 by Forbes for the fourth time in five years. The annual award, presented by Forbes and Statista Inc., is based on an independent survey of more than 160,000 employees from U.S. companies with 500 or more employees.

The U.S. Department of Justice filed a lawsuit against Visa alleging that the company’s monopoly on the debit card market harms consumers and competitors, according to The Hustle. Visa handles 60 percent of U.S. debit card transactions each year.

Business Trivia – DoorDash, founded in 2013, is the youngest of all the companies that entered the Fortune 500 for the first time this year. Its 2024 ranking is #443.

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LEADERSHIP & MANAGEMENT

About 30 percent of adult Americans suffer abusive misconduct at work, and 66 percent say they’re aware of bullying within their workplace, according to Fortune. Workplace incivility, which includes gaslighting, gossiping and shaming, appears to be on the rise. Workers experiencing bullying should be direct with the perpetrator while avoiding escalation, lean on managers and co-workers as allies, and document everything that happens.

While the job market has cooled, companies are doling out one-off signing bonuses at higher rates than they did during the robust job market of the pre-pandemic years, according to the Wall Street Journal. Nearly 4 percent of jobs posted in July on job site Indeed.com advertised a signing bonus. Though lower than last year, that’s still more than double the 1.7 percent rate from July 2019.

Business Travel – Despite record numbers of passengers and flight delays, the J.D. Power 2024 North America Airport Satisfaction Study shows that most people still enjoy their time inside airports. But according to Business Travel News, average consumer spending per person in the terminal is down. On average, passengers spent $3.53 per person less than they did in 2023 on food, beverages and other items. The decline is greatest at large airports where passengers have reduced their spending by an average of $6.31.

SALES

One of the biggest mistakes salespeople make during the discovery process, according to sales author Jeb Blount, is getting so wrapped up in the process of asking the next question that they don’t really listen as the prospect answers the current question. When you’re thinking about what to ask next, it causes the discovery conversation to be disjointed and forced.

Sales Statistic – Ninety-two percent of clients trust referrals from people they know, according to HubSpot.

One of the biggest negotiating mistakes you can make is to believe your competitor is cheaper, says sales expert Kelley Robertson. It’s probably a myth. There’s always someone who will sell for less than you, but it’s unlikely ALL your competitors will be cheaper. Instead of focusing on your price, focus on the value you deliver.

WISDOM

“Blame is just a lazy person’s way of making sense of chaos.” – Douglas Coupland

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Did you know that Omaha had 7,082 hotel rooms back in 1929 after the completion of the Paxton Hotel at 14th & Farnam Street? Today the number is over 15,000. The city’s largest hotel is currently the Omaha Hilton with 600 rooms.

Did you know Did you know Omaha’s Eppley Airport handled 134 million pounds of cargo and mail in 2022?

Did you know Livability ranked Omaha at #19 on its list of Top 25 Best Places to Live in the Midwest for 2024? Omaha was by far the largest city on the list. Most winners were suburbs or small cities.

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From Lemonade Stands to Galas: How Anyone Can Make a Difference

In today’s fast-paced world, many people are eager to give back but unsure how to fit it into their busy lives. Whether it’s limited time, small children at home, or an unpredictable schedule, countless individuals wonder, “How do I make an impact?”

The good news is that nonprofit organizations offer a wide range of options to suit anyone’s situation. While monetary donations are always appreciated, many organizations also accept contributions such as gently used items or products from their Amazon wish lists. Hosting a donation or fundraising drive is another great option – easy to manage even with kids or a hectic schedule.

Amelia Mickeliunas, a young advocate just 13 years old, is in her eighth year of fundraising for the National Hemophilia Foundation Unite Walk, which started with a simple lemonade stand that friends and family supported from all over the city. Today, she runs a successful virtual campaign, complete with an informative video educating others on the importance of supporting her cause – helping her raise even more money for her younger brother and others living with hemophilia.

To date, Amelia has raised $29,992 making her the top fundraiser every year since the age of five, demonstrating that people of all ages are able to make an impact in their community.

The opportunities to support a cause extend beyond donations. From 5K runs to gala events, individuals and families can attend or participate in a variety of activities. Hosting a donation drive for an organization can secure essential supplies and raise awareness about the cause.

For those looking to give their time, there are both short-term and long-term volunteer opportunities available. You can find one-time projects that fit into a single afternoon or choose a more regular schedule – whether it’s once a month, once a week or even daily. Many organizations also offer mentor roles that, while flexible, require a longer-term commitment to make a lasting impact. These mentorship opportunities allow you to guide and support someone, often with minimal time restrictions but meaningful personal involvement.

For those who can’t attend events or donate money, advocacy is another powerful way to make an impact. Spreading the word about an organization’s mission is a meaningful, free way to contribute.

Whether through financial support, volunteering or simple advocacy, there’s truly something for everyone when it comes to giving back.

For more information about how to make an impact in your community, visit SHARE Omaha, a valuable resource for finding volunteer opportunities, donation drives and other ways to support local causes.

Junkstock: Harvest Edition from September 27th – 29th & October 4th – 6th: A magical, one-of-a-kind festival is back! Junkstock is the place for vintage finds, unique antiques, handmade food and one-of-a-kind repurposed relics. Shop junk and vintage vendors and artisans, enjoy live­ music, try food trucks and chill while your children explore Kids Village. Pet friendly. Children 12 and under are free!

23rd Annual Oktoberfest on September 27th & 28th: Join Crescent Moon Ale House for their 23rd Annual Oktoberfest celebration, filled with fun for the whole family! Enjoy a variety of German beers on tap, delicious food like bratwurst, schnitzel and pretzels, plus live music from Barry Boyce and Polka Express. Participate in exciting games such as costume contests (including for dogs), a pretzel toss, yodeling, and a 1L mug-holding challenge. With activities for kids and adults, it’s a weekend full of great beer, food, music and fun!

Omaha Whiskey Fest 2024 on September 28th: Join others on Saturday, September 28 at the Hilton Omaha for the largest whiskey tasting in the region! Access samples of more than 400 whiskeys, and interact with speakers, brand ambassadors, master distillers and other prominent figures in the whiskey industry. Enjoy the cigar patio with live music, boxed lunch, experience rooms and more, brought to you by title sponsor Johnnie Walker and the Omaha Whiskey Fest board. Ticket options include VIP, General Admission, Designated Driver and Hotel Room Packages. Tickets are selling fast, so don’t miss out!

Lunch & Learn: Overcoming Common Sales Objections on October 1st: Join Alyssa Kropp, CEO of The Casslo Group, for an interactive Lunch & Learn on Overcoming the Most Common Sales Objections. You’ll learn how to anticipate the top sales objections, utilize strategies, and move forward more confidently when objections arise. Lunch will be provided – so make sure to secure your spot today!

Night Light: Space Week on October 3rd: Play at adults-only Thursday nights at the Kiewit Luminarium with exhibits and provocative programs that will expand your brain and spark joy. Thursday, October 3rd, they will celebrate Space Week, with several activities to unleash your cosmic curiosity. This event is reserved for adults only (ages 18+). Get your tickets now!

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WoodmenLife has hired Rob LaMagna-Reiter as its new vice president & Chief Information Security Officer. He earned a bachelor’s degree in Management Information Systems, concentration in Information Assurance, as well as a Master of Business Administration degree from the University of Nebraska at Omaha. He previously worked as vice president & Chief Information Security Officer at Hudl and FNTS.

Mutual of Omaha has promoted Erin Tellez to vice president of finance. She joined Mutual in 2016 as a finance manager and was promoted to director of finance in 2019. Before joining Mutual, she held finance roles at Sunderland Brothers, Conagra and Swift & Company. Her finance career began as an accounting manager in the Swift & Company division of Conagra.

Child Saving Institute has added Kristina Norwood as program direct or of early childhood education. She has more than 24 years of education experience and has worked as a classroom teacher, instructional coach, program evaluator and preschool consultant.

OrthoNebraska has added orthopedic surgeon Ajoy K. Jana, who is located at the Oakview clinic at 2725 South 144th Street. At native of Pittsburgh, Jana has been a practicing surgeon in Omaha for more than 20 years.

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.

The topic for this week’s edition of my incredibly insightful commentary is fairy tales. The best-known fairy tales are Grimm’s fairy tales. This is not a Grimm’s fairy tale. This is a grim fairy tale. My fairy tale du jour is the story of the sheep in wolf’s clothing. Yes, you heard me right the sheep in wolfs clothing, not the wolf in sheep’s clothing.

It’s no fairy tale the most effective and efficient way to deal with Mr. Market’s whimsical, and often manic-depressive mood swings, is through the use of index funds. An index fund is supposed to reflect a broad brush-stoke overview of the market’s movements.

Well, not surprisingly, Wall Street loves to sneak into their smoky back-room marketing departments and come up with something to peddle to the (what they perceive to be) gullible masses. Currently, there are in excess of 3,500 index funds available to the investing public. Most are some bastardized version of the virgin three. These illegitimate funds include those who are biblically oriented, those that track Harvard and Yale’s endowment funds, and some that hold stocks owned by members of Congress. But my all-time favorite is a fund that bets against everything Jim Cramer recommends.

I thought Wall Street had concocted every inane index fund possible, until I read Jason Zwieg’s latest Intelligent Investor column. Zwieg reports the investment luminary, Rob Arnot, has launched an ETF that includes every stock that has been kicked out of the S&P 500. For those of you seeking the next once-in-a-lifetime opportunity, the name of the fund is the Research Affiliates Deletions ETF. (Ticker symbol NIXT) By definition, companies that are deleted from the S&P have suffered some hard times, and their market caps have become asymptotic to zero. The only thing that kept them alive was their inclusion in the index.

I love what Arnot said during his announcement of the fund’s launching: “I don’t understand why nobody thought of this before.” Really? I can come up with about 50 reasons as to why not.

Sidebar comment. Arnot’s new “once-in-a-lifetime” investment opportunity is an ETF. ETF stands for Exchange Traded Fund. Traditional net asset value index funds are bought and sold at the end of the trading day and often come with no load, no commission and no residual fees paid to the broker. ETFs trade like individual stocks and require a commission to be bought and sold.

Moral of the story; Most index fund knock-offs are sheep in wolves clothing. Why? Because they have no bite, and the Wall Street marketing mavens are trying to convince credulous investors that the funds are Mr. Market killers.

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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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