4
• JANUARY 22, 2021 • Midlands Business Journal
Omaha Real Estate A section prepared by the staff of the Midlands Business Journal
Omaha real estate market remains robust in 2021 by Gabby Hellbusch
Moving into 2021, there’s good news for the real estate market in the metro area. In fact, Josh White, vice president investor relations at Metonic Real Estate Solutions, said Omaha weathered the recession better than many markets around the country. “When thinking about commercial real estate, employers are figuring out what office setting works best for them knowing that there is no substitute for in-person human interaction,” he said. “That said, people aren’t going to be Swanson very excited to jump back into crowded office spaces, so how leaders are designing or retro-fitting their office space will be important to watch.” Regarding multifamily real estate, White said the Omaha market is ripe for building new developments. “As one can look around our community and see many projects mid-development, we see the trend continuing next year and beyond to meet the demands of the marketplace,” he said. “We are paying close atten-
Josh White, vice president investor relations at Metonic Real Estate Solutions. tion to the fact that consumers are desiring will feel comfortable in.” to live in a smaller neighborhood setting, so Additionally, White said there is a sighow do we as developers and builders ac- nificant rise in renting virtually. commodate that need? One way is to build Bill Swanson, 2021 Omaha Area Board fewer apartments, possibly townhomes or of REALTORS president, said the outlook ‘apartminiums’ on smaller pieces of land for 2021 for the Omaha area real estate that have some density where people feel market is expected to be robust with rates like they are building a neighborhood they projected to stay around 3%.
January 22, 2021
“It will continue to be a ‘seller’s market’ with the existing inventory of homes for sale at or near an all-time low in recent memory,” he said. “Any seller pricing their home fairly and taking advantage of the tools of exposure that realtors utilize should have no trouble selling.” Swanson said one recent trend, most likely a result of last year’s pandemic, is that people realized they wanted more livable space. “They became accustomed to spending more time at home and want more amenities for their loved ones to enjoy,” he said. “That might be bigger and more equipped rec rooms, yards, swimming pools and home theaters. With pools and theaters closed Secor last year, people want to make sure they are prepared in case it happens again. We are also seeing an increase in out-of-town buyers moving from densely populated cities to the area, as well. In conclusion, this year is expected to eclipse last year's numbers and could rival our busiest year ever in Omaha area real estate.” Spencer Secor, senior associate/office specialist at The Lund Company, said the Omaha real estate market is doing well considering the macro climate. “There are several large developments under construction including Amazon’s distribution center, Crossroads, Boys Town and NoDo,” he said. “Some of these developments may pivot on initial plans based on how the world will operate going forward but people are obviously ready to get back to normal and pick up where we left off pre-COVID.” Secor said Omaha has stayed relatively steady and shows great fortitude. “2021 may look fairly similar to 2020 as far as metrics, but I cannot help but be bullish for the future of the market overall,” he said. In the office world specifically, there is a trend of shrinking square footage. “Personally, I think this will be a temporary trend, at least in tertiary markets like Omaha,” Secor said. “On the coasts and in larger cities, it could become a more permanent solution for some companies. But, at the end of the day, I believe employees need to be in the office to build culture, promote creativity/innovation and generate energy for everyone working there.”
Omaha Real Estate — inside JANUARY 22, 2021
THE BUSINESS NEWSPAPER OF GREATER OMAHA, LINCOLN AND COUNCIL BLUFFS
THIS WEEK 'S ISSUE:
$2.00
VOL. 47 NO. 4
Baum Hydraulics powers surge in hose sales with new brand by Michelle Leach
Hemp Batch Tracker provides accountability at each step of hemp product cycle. – Page 2
40 er d Un 40 Cory Garlock balances financial acumen with philanthropic mindset. – Page 3
in es nc Care a v Ad ealth H
Health technologies abound with focus on heightened safety, better access. – Page 25
Nebraska was still a territory and the Civil War was still four years into the future when Baum Iron Co. got its start serving settlers making the great trek West with everything from wagons and buckboards to supplies like horseshoes, anvils and wooden spokes. Readers may be familiar with the towering painted “THE BAUM IRON COMPANY” sign in the Old Market, and a historical marker claims this grandaddy of Omaha businesses was once the “largest wholesaler of iron products in the Midwest.” Today, Baum Iron Co. is Baum Hydraulics Corp. And the wholesale distributor of hydraulic machinery parts is continuing to grow with a combination of long-tenured employees (around 44% of its staff have worked at the corporation for 20-plus years), and innovation at least partly reflected in the Stateside debut of a new hydraulic hose brand six years ago. “Back in 2015, we took a Continued on page 22.
Vice President Kelly Hays … From selling wagons and horseshoes to settlers traveling west to, 160-plus years later, serving the hydraulics parts needs of privately-held repair shops across the nation. (Photo by MBJ / Becky McCarville)
New owners of Edgewater target Omaha and mid-state markets by Richard D. Brown
The five-person Nebraska group that purchased the former Pinnacle Agency with 14 office locations across Nebraska is looking at growth opportunities with independent insurance services, farm management and real estate services. The 46-employee business is specifically targeting commercial insurance opportunities in Omaha and in the mid-state cities of Hastings, Grand Island
and Kearney. “In Omaha we’re targeting the mid-size client with annual premiums in the $25,000 to $75,000 premium volume range,” said Edgewater Insurance & Farm Management President Justin Shavlik. While the firm has written insurance in the Omaha and Lincoln markets for years, Shavlik said the new ownership group headed by Continued on page 22.
From left, Partners Akil Davis, Carol Anderson and Paula Harris … The team turns to each other’s strengths, reflects on achievements as its founder considers retirement.
Harris and Davis Financial Advisors builds legacy by diversifying team by Becky McCarville
President Justin Shavlik … New ownership group redoubles growth plan through organic growth, acquisitions. (Photo courtesy of Edgewater Insurance)
Carol Anderson, founder of Harris and Davis Financial Advisors, has built the firm she started in 1981 by fostering relationships through the National Association of Insurance and Financial Advisors (NAIFA), organizations and networking events like ICAN Women’s Leadership Conference, and by leveraging her teaching background — she was an art teacher with a master’s degree in art edu-
cation, traveling between 40-plus elementary schools and supervising in another 50 with Omaha Public Schools for about 20 years prior to switching to her current profession. Partners Paula Harris, Anderson’s daughter, joined in 1999, and Akil Davis joined in 2015. Harris and Davis met through NAIFA. As Anderson contemplates retirement, the succession plan really began over 20 years ago when Harris Continued on page 23.