WICHITA, KAN. — Industrial Realty Group LLC (IRG) and Provider Real Estate Partners LLC (PREP) have acquired Towne West Square Mall, a 650,000-square-foot shopping mall in southwest Wichita. The partnership plans to redevelop the 60-acre property into a multi-tenant campus called Wichita Business Park.
“The City of Wichita is thrilled to have new ownership of this property and is excited about the redevelopment plan proposed by IRG and PREP,” says Wichita Mayor Lily Wu.
After nearly 44 years in operation, Towne West Square Mall closed its doors officially over the July 4 weekend. The last three businesses to remain operating at the mall include Dillard’s and JC Penney, which were the mall’s original department store anchors, and locally owned and operated Boulevard Theatres, according to local media outlets.
IRG and PREP plan on redeveloping the property through a conversion of the former mall and department store space. The team will expand the former mall’s retail and commercial uses to offer modern office, light industrial, advanced manufacturing, research-and-development and flex spaces.
In May, Wichita’s Planning Commission and City Council approved a zoning overlay that will help facilitate the redevelopment of Towne West Square Mall.
“We are confident in Wichita Business Park’s success because it has all of the right components coming together,” says Peter Goffstein, executive vice president at IRG. “From the market dynamics to its great location, this project is a prime opportunity to fill a need in the Wichita community.”
A predecessor of Simon Property Group developed and opened Towne West Square Mall in October 1980, according to The Wichita Eagle. In addition to JC Penney and Dillard’s, the mall’s original tenant roster included Montgomery Ward, B Dalton Booksellers, Camelot Music, Spencer’s Gifts, Casual Corner, Chick-fil-A and Orange Julius.
Construction is set to begin this summer, with the first tenants projected to occupy space in first-quarter 2026. Grant Glasgow and Scott Salaome of NAI Martens are marketing and leasing Wichita Business Park on behalf of the ownership group.
IRG is a Los Angeles-based development and investment firm that operates a portfolio exceeding 100 million square feet across 150 properties in 31 states.
Founded in 2020, PREP is an acquisition and development firm that focuses on healthcare, industrial and retail opportunities. The Cleveland-based company is a manager and sponsor of real estate investment funds.
— John Nelson