INVEST IN THE EXPERIENCE
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Welcome to the Greater Omaha metropolitan region, a thriving area of more than 1.2 million people located within an hour’s drive of the urban center. Hundreds of leading national and regional retailers have found Greater Omaha to be a profitable location, including:
Bonefish Grill Coldwater Creek Pottery Barn The Cheesecake Factory Urban Outfitters National retail chains thrive in Greater Omaha. From stand-alone facilities, to enclosed and lifestyle malls or mixed-use developments. Retail is growing! In fact, three recently developed mixed-use projects — Aksarben Village, Midtown Crossing and Coventry — all have significant retail options underway or open for business. Those three projects reflect a combined capital investment of nearly $1 billion.
Omaha: The $13 Billion Opportunity With an average household income of more than $70,000 and a cost of living 10 percent to 12 percent lower than the national urban average, Greater Omaha is a strong regional retail market. In fact, total retail spending for the Greater Omaha metro is about $13 billion a year, with consumer demand showing opportunity gaps in significant categories despite Omaha’s retail growth. This spending power and demonstrated demand for retail products is evident in the outstanding success of many of Omaha’s national retailers. Omahans enthusiastically spend their money dining and shopping.
Greater Omaha was ranked among the top 5 Metro Areas that are Hot Money – 2010
Watch – Omaha Retail – Invest in the Experience
“I invested in Omaha because it’s an upscale, attractive city with a lot of purchasing power. I am exactly where I want to be.” – Ernesto Peralta, blanc burgers + bottles
Retail Opportunity Gap Retail Category Opportunity GAP (Unmet Demand)*
Retail Sales Outlook Omaha’s projected economic and population growth, along with its positive pro-business climate, promises continued momentum. Long termed a “recession-resistant” economy because of the diversity of business and industry present in Omaha, the foreseeable economic outlook is for continued growth.
Health & Personal Care Stores $ 265,894,949 Food & Beverage Stores $ 235,489,463 Clothing and Clothing Accessories $ 195,269,787 Home Centers $ 189,508,959 Miscellaneous Store Retailers $ 140,925,109 Department Stores Excluding Leased Deptartments $ 126,570,884 Electronics & Appliances Stores $ 90,334,031 Home Furnishings $ 46,643,418
Greater Omaha is the home of five Fortune *Claritas 2010 RMP Opportunity Gap – Retail Stores 500 headquarters: Berkshire Hathaway Inc., ConAgra Foods, Mutual of Omaha, Kiewit and Union Pacific Railroad. Scores of other Fortune 500 companies have operations in the metro area. Including 3M, Aflac, CenturyLink, The Coca-Cola Village and Midtown Crossing, which both have a Company, General Dynamics, Kellogg’s, Northrop significant retail and entertainment impact, have Grumman, Pacific Life and Schering-Plough. This diverse opened during the recent national recession. economy has kept Greater Omaha insulated, but not As other communities’ retail environments have isolated, from the economic downturn. The area has stagnated over the past few years, metro Omaha’s more optimistic growth prospects than many parts of retail is vibrant and growing. In 2009, Forbes listed the nation. Omaha as the nation’s fastest recovering city. That recovery continues to positively manifest itself in all The Omaha metro has experienced increased taxable aspects of Omaha’s economy. sales, a positive retail property absorption rate and has attracted many new-to-market concepts. Aksarben
Diverse Industry Sectors = Economic Stability Greater Omaha Employment Distribution by Industry - 2010 Construction/Mining 4.6% Manufacturing 6.8% Trade, Transportation and Utilities 20.6% Information 2.4% Financial Activities 8.8% Professional and Business Services 13.8% Education and Health Services 15.4% Leisure and Hospitality 9.5% Other Services 3.9% Government 14.3% Total Employment 100.0% Bureau of Labor Statistics
Representative Properties
Sq ft
Broker
Major Tenants
Households 3-mile
5-mile
Median Income 3-mile
5-mile
The Shops of Legacy
130,000 Bear Properties
Roja Mexican Grill, Upstream Brewing Company, Baby Blue Sushi Sake Grill, Dante's Pizzeria Napoletana
24,904
60,379
$101,741
$89,080
Midtown Crossing
225,000 Lund Company/ RED Development
Element by Westin, Midtown Marcus Cinema, Prairie Life Fitness, Wohlner's Neighborhood Grocery and Deli
45,627
94,727
$39,011
$41,335
Aksarben Village
300,000 Colliers International
Wohlner's Grocery, Aksarben Cinema, Godfather's Pizza, Jones Bros. Cupcakes, Aspen Fitness
47,985
100,518
$44,181
$45,609
Metro Crossing
551,376 The Lerner Company
Target, Kohl's, Bed Bath & Beyond, PetSmart, Famous Footwear, T.J. Maxx
12,554
41,750
$81,042
$67,258
Von Maur, The Cheesecake Factory, Rave Motion Pictures, Bare Escentuals, The Buckle, Forever 21
36,607
100,434
$59,054
$59,598
Westroads Mall
1,210,156 General Growth Properties
Shadow Lake Towne Center
689,573 The Lerner Company/RED Development
Best Buy, PetSmart, Hy-Vee, Dick's Sporting Goods, Borders, JCPenney, Gordmans
12,475
40,363
$86,378
$70,313
Regency Court
171,552 RED Development/ Lund Company
Anthropologie, Borsheims, William Sonoma, Pottery Barn, White House | Black Market
36,251
101,408
$58,507
$59,435
Village Pointe
572,338 RED Development
Scheels, Old Navy, DSW Shoes, Best Buy, Marcus Village Pointe Cinema, Coach, Apple Store, Sephora
21,302
56,435
$97,280
$88,241
Oakview Mall
870,323 General Growth Properties
Younkers, Dillard's, JCPenney, Sears, Aerie, Crazy 8, Fossil, Authentic Jeans
30,477
77,388
$84,705
$81,097
33,198
101,702
$58,492
$61,715
One Pacific Place
91,514 Cole Real Estate Trader Joe's, Chico's, Talbots, Ann Investment Taylor, Banana Republic, ingredient
Workforce and Consumers As a regional service and trade center, Greater Omaha attracts workers and shoppers from an area far larger than the metro area. More than 1.2 million people live within a 60-minute drive time. An excellent highway transportation network, including the I-80 and I-29 corridors, provides a natural means of extending the Omaha market area. With more than 710,000 workers, the Omaha metropolitan statistical area typically pulls in labor from a 60-mile radius. A young, growing workforce is essential to ensuring a steady supply of workers and economic vitality. Omaha’s 24-years-old-and-younger population represents 36.3 percent of the total. Omaha’s median population age is 34.9 versus the U.S. median of 37. When adjusted for inflation, household income in Omaha consistently ranks in the top five of the 100 largest metros. In addition, Greater Omaha maintains a higher concentration of high wage jobs in the financial activities, education and healthcare, and professional and business service sectors compared to the nation.
“Buckle has invested in the Omaha market for over 20 years. The community has an impressive cultural scene, extensive dining and accommodation options, a world-class zoo, museums catering to a variety of interests, as well as sporting and concert events that attract visitors to the city. We are pleased with the continued development and promotion of Omaha as a destination for entertainment, business and shopping.” Dennis Nelson, CEO and president The Buckle, Inc.
#1 America’s Most Affordable Cities Forbes – January 2011
#6 America’s Most Livable Cities Forbes – April 2010
Major Employers Alegent Health Berkshire Hathaway, Inc. CenturyLink ConAgra Foods First Data First National Bank of Omaha Google Gordmans Mutual of Omaha Offutt Air Force Base Omaha Steaks Oriental Trading Company PayPal Peter Kiewit Sons’, Inc. TD Ameritrade Union Pacific West Werner Enterprises Yahoo!
Look Who’s Here Restaurants
The Amazing Pizza Machine blanc burgers + bottles Bonefish Grill Buffalo Wild Wings Grill & Bar Carrabba’s Italian Grill Cantina Laredo The Cheesecake Factory Chocolaterie Stam CRAVE Firebirds Wood Fired Grill Five Guys Burgers and Fries Fleming’s Prime Steakhouse & Wine Bar Freddy’s Frozen Custard & Steakburgers Genji Japanese Steakhouse Granite City Food & Brewery ingredient Jason’s Deli Jimmy John’s Johnny’s Italian Steakhouse Kobe Steak House Kona Grill Lone Star Steakhouse Milio’s Sandwiches Outback Steakhouse Panchero’s Mexican Grill Panda Express P.F. Chang’s China Bistro Qdoba Mexican Grill Quaker Steak & Lube Rock Bottom Brewery Roja Mexican Grill Smashburger Sullivan’s Steakhouse Taco Bueno Taco del Mar Texas Roadhouse
Fashion
Abercrombie & Fitch Aéropostale American Apparel Ann Taylor
Anthropologie Babies “R” Us Banana Republic Buckle Carter’s CJ Banks Chico’s Christopher & Banks Coach Coldwater Creek DSW Forever 21 Francesca’s Collections Gap J.Crew The Limited New York & Company Old Navy Parsow’s Republic of Couture Sephora Shoe Carnival Talbots Urban Outfitters Vanity Wet Seal White House | Black Market
Other Retailers
Apple Store Bass Pro Shops Borsheims BounceU Cabela’s Camping World Costco Dave & Busters Fossil GolfTec Lifetime Fitness Nebraska Furniture Mart Trader Joe’s ULTA Whole Foods Market Winestyles
#2 Best Cities for Business
MarketWatch – December 2010
Greater Omaha Demographics 2010 metro area population 851,194 2015 metro projection 887,017 Growth 2010-2015 metro population projection 4.2% Total metro area households 329,423 Average household size 2.53 Median all owner-occupied housing value $136,103 Populations by Single Race Classification White 712,916 Black or African American 64,851 American Indian or Alaska Native 5,289 Asian 17,005 Native Hawaiian and Other Pacific Islander 595 Some Other Race 32,072 Two or More Races 18,457 Population Hispanic or Latino by Origin Hispanic or Latino Not Hispanic or Latino Households by Income Income less than $24,999 Income $25,000 - $49,999 Income $50,000 – $74,999 Income $75,000 - $99,999 Income $100,000 or more Average household income Median household income Per capita income
59,905 87,220 71,573 46,804 63,921 2010 Estimate $70,415 $56,143 $27,467
Average effective buying income Median effective buying income Population by Age Age 0 – 17 Age 18 – 24 Age 25 – 44 Age 45 – 54 Age 55 – 64 Age 65 and over Median age Source: Claritas, 2010
67,151 784,043
$55,533 $44,850
(18.2%) (26.5%) (21.7%) (14.2%) (19.4%)
2015 Projection $76,523 $60,435 $29,976 $60,130 $47,872 228,338 (26.8%) 80,491 (9.5%) 232,375 (27.3%) 120,965 (14.2%) 92,842 (10.9%) 96,183 (11.3%) 34.9
“When we look at a potential site, we make sure that the demographics and population density meet our pre-determined criteria, but after that, we look at the culture of the surrounding area. Omaha, as a city, has its own unique culture, and the residents have a strong sense of the arts and culture as well. They also have a strong passion for food, and it is those types of intangible elements that really set apart some cities. Omaha has a strong culinary presence in the country, with Omaha beef, and we felt P.F. Chang’s China Bistro would be a great fit.” Jason Miller P.F. Chang’s China Bistro
Now that you’ve gotten a taste of the major retail players who have found a home in Greater Omaha —
why not you?
“Anything we needed, the Greater Omaha Economic Development Partnership was there to help. I have done real estate development for approximately 30 years and they are absolutely the best. I was greatly impressed by the enthusiasm, cooperation and overwhelming response.” Susan Flesher, Panda Express real estate
SelectGreaterOmaha.com Winsley Durand, wdurand@SelectGreaterOmaha.com 402-346-5000 • 800-852-2622 1301 Harney St., Omaha, NE 68102
•
13206 Grover St., Omaha, NE 68144
The Greater Omaha Economic Development Partnership represents a four county area that includes the Greater Omaha Chamber (Douglas County), Cass County Nebraska Economic Development Council, Gateway Development Corporation (Washington County) and Sarpy County Economic Development Corporation. This seamless regionalized economic development organization operates as a one-stop shop for all of your economic development needs. May 2011. For additional data, go to SelectGreaterOmaha.com