Beech Lake sale closes; Murfin Inc. president shares possible development plans

WICHITA — Webb & 13th Real Estate LLC, which is wholly owned by Murfin Inc., has closed on its purchase of the Beech Lake property on the southeast corner of 13th and Webb.

Hawker Beechcraft sold two-thirds of the property for an undisclosed amount.

“We plan ultimately to develop the property with some plans to move our office headquarters out there,” says Bob Young, Murfin Inc. president.

The company primarily is an oil and gas and heavy equipment business and isn’t focused on real estate development.

“That was just a good deal,” Young says of the property. “That just seemed like an opportunity we couldn’t let go by.”

He calls it “probably the best piece of development property in town.”

Young says he’s spoken with developers about possibilities for the property, but there are no set plans or specific concepts.

“Right now, it’s a buy-and-hold situation.”

Nothing will happen until the market is stronger.

A development similar to the popular Waterfront across the street is a possibility one day.

“It’ll be a first-class development,” Young says. “Whatever goes up there will be world class.”