Like many U.S. cities, Wichita’s downtown has experienced an unprecedented revitalization in recent years, with new development and the reimagining of older structures. Growth in the core is not slowing anytime soon if current projects under construction or on the drawing board are any indication. A number of projects, revolving around a new baseball stadium, are poised to inject new life into the historic Delano District. Plans for a new performing arts center are under discussion, and major mixed-use developments and public improvement projects along East Douglas Avenue are positioned to enhance the link between Delano and the city’s Old Town district. According to the organization Downtown Wichita, more than $1 billion has been invested in the urban core in the last 10 years, $631 million of which was private investment. The city center has retained a number of high-profile businesses after a decade of notable companies relocating to northeast suburban office locations. Project pipeline Following the recent addition of more than 800 apartment units in and around the central business district, commercial activity is on the upswing. The Spaghetti Works District, expected to be completed this fall, is a $23 million mixed-use development led by TGC Development Group and …
Kansas
LENEXA, KAN. — Colliers International has brokered the sale of a 26,800-square-foot industrial building in Lenexa for an undisclosed price. The property is located at 9641 Lackman Road. Tom Haverty of Colliers represented the seller, Compass Properties LLC. John Stafford of Colliers represented the buyer, RMS Real Estate LLC.
OVERLAND PARK, KAN. — Tutera Senior Living & Health Care is underway on a $1.5 million renovation of its senior living community in Overland Park known as The Atriums. This month, Tutera expects to complete Phase I of the project, which includes renovation of the first-floor common living areas. Tutera will also begin Phase II, an expected $1 million remodel of the property’s 203 units. Amenities within the 50,000-square-foot common living area include a dining area, pub, billiards room, reading corner and community lounges. The property features 168 independent living units and 35 assisted living units. The residences will be updated with new lighting, flooring, paint and other upscale finishes. Phase II is slated for completion in the next 12 to 18 months.
LEE’S SUMMIT, MO. AND SHAWNEE, KAN. — Hotworx, a high intensity isometric fitness concept, has signed two long-term leases in Lee’s Summit, Mo., and Shawnee, Kan. The Lee’s Summit location will be located at 1309 NE Douglas St. and span 1,900 square feet. The studio is slated to open this summer. In Shawnee, Hotworx will occupy a 2,000-square-foot space in a Bank of America-anchored strip center. The location is also expected to open this summer. Bill Maas and Daniel Brocato of Block & Co. Inc. Realtors represented Hotworx in the lease transactions. The brokers are currently working with Hotworx to open a location in Liberty, Mo., later this year. The fitness company currently operates a studio in Lawrence, Kan.
A renaissance is underway in Topeka, Kansas, with undeniable momentum as new commercial, industrial and residential developments emerge citywide. The year 2015 was pivotal with a $9.4 million public-private investment in infrastructure and amenities along Kansas Avenue downtown. Local investors have purchased more than 25 buildings on the avenue for gradual restoration into thriving businesses like Iron Rail Brewing, The Pennant, Cyrus Hotel and Kansas Avenue Lofts. The 45,000-square-foot Evergy Plaza is slated to open in March 2020 in the shadow of the Kansas Statehouse. A crowning jewel of downtown development, the plaza will feature a 50-foot performance stage, digital screen, programmable fountains, fireplaces and an ice skating rink during the winter. According to a recent market study, growth in the Capital City shows no signs of slowing down. St. Louis-based Development Strategies says downtown could support expansion over the next decade to include 900 new or rehabilitated housing units, 300,000 square feet of new or rehabilitated office space, 690,000 square feet of retail space and at least 200 more hotel rooms. “Investments downtown enhance quality of life and quality of place to help attract and retain a workforce that will take us into the next 15 to 20 years,” …
LAWRENCE, KAN. — Block & Co. Inc. Realtors has negotiated the sale of a nearly one-acre development site in Lawrence. The property is located at 5100 Congressional Circle. The buyer, Sanders LP, plans to begin construction this summer on a 9,000-square-foot building. A local dental practice will anchor the development, leaving 4,000 square feet of additional space for lease. Completion is slated for the first quarter of 2020. Shawn Stuckey of Block represented the buyer in the sale. The seller was not disclosed.
OVERLAND PARK, KAN. — Pediatric Associates has signed a lease to open a 7,430-square-foot practice at AdventHealth South Overland Park. The practice, which provides comprehensive pediatric care for all childhood health issues, will be located on the third floor. Construction within the space is expected to start later this month with completion slated for the fall. Mark McConahay of Block & Co. Inc. represented Pediatric Associates in the lease transaction. Molly Crawford Munninghoff represented the landlord, AdventHealth South Overland Park.
LAWRENCE, KAN. — Cushman & Wakefield has negotiated the sale of The Connection at Lawrence, an 888-bed student housing community located near the University of Kansas campus in Lawrence. Travis Prince, Victoria Marks, Gib Kerr and Jeffrey Bentz of Cushman & Wakefield represented the unnamed seller in the transaction. University Partners acquired the property for an undisclosed price. The Connection at Lawrence was built in 2010 and features 14 three-story buildings offering one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a 24-hour fitness center, charcoal grills, lighted basketball and sand volleyball courts, a tanning bed, two resort-style swimming pools, a heated spa, game room, computer lounge, clubhouse, private study rooms, an outdoor fireplace and a private shuttle to campus.
OVERLAND PARK, KAN. — The Boulder Group has arranged the sale of a single-tenant property net leased to Skechers in Overland Park for $1.5 million. The 6,415-square-foot building is located next to a Walmart Supercenter. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate company. A West Coast-based real estate investment company purchased the asset.
OVERLAND PARK, KAN. — Hamilton Zanze has acquired the 272-unit Metcalf Village Apartments in Overland Park for an undisclosed price. The company plans to rebrand the community as Boulders at Overland Park Apartments. Built in 2017, the property spans 261,862 square feet. Amenities include a fitness center and a saltwater pool. Hamilton Zanze, a San Francisco-based real estate investment company, plans to improve outdoor lighting and landscaping. Mission Rock Residential will manage the asset. The seller was not disclosed.