Daily Archives: Oct. 25, 2010

You don’t say

Oct. 25, 20103:45 p.m.

“It’s the quintessential breakfast beverage.”

— PrairieFire Coffee Roasters general manager Jeff Deitchler on River City Brewery’s new coffee-infused PrairieFire Lager

By Carrie Rengers | Tags: , , , Filed under You don't say | Comments Off

Exchange Place LLC and DGL Investments LLC settle claim with Berkley Insurance

Oct. 25, 201011:23 a.m.

WICHITA — Exchange Place LLC and DGL Investments LLC have settled with their insurance company over 2007 damages by copper thieves to Exchange Place at Douglas and Market.

“It was extensive,” Real Development partner Dave Lundberg says of the damage, which he estimates was in the $10 million range. “Just about everything in the building, quite frankly.”

Real Development is developing the Exchange Place project.

A previously postponed trial was scheduled to start in Sedgwick County District Court on Tuesday.

Lundberg says he’s been in negotiations with Phoenix-based Berkley Insurance since the vandalism occurred.

“One of the things the insurance company said is, ‘You’re going to gut the building anyway.’ ”

Lundberg can’t discuss the settlement, though he says it was nowhere near what the damage was.

“It allows us to fix what has to be fixed in order to convert it to (a) residential project,” he says. “We’re going to wait until the project’s finally approved until we know what the final use is.”

Lundberg says the Exchange Place project is separate from Real Development’s Wichita Executive Centre project, which his company is refinancing in order to pay vendors.

He says the Exchange Place insurance money can’t be used on the other project.

Still, it’s a good start to the week for Lundberg, who has been sick with pneumonia for the past three weeks.

“We got an insurance settlement, and my pneumonia went away.”

By Carrie Rengers | Tags: , , , , , Filed under Uncategorized | Comments

Northrock Shopping Centre fully leased with the addition of Model Nails

Oct. 25, 20105:46 a.m.

UPDATED — A new lease by Model Nails means Occidental Management’s Northrock Shopping Centre near 32nd North and Rock Road is fully leased.

“We’re going to be 100 percent occupied there,” says president Chad Stafford. “We’re pumped.”

Salon partners Tammy Ho and David Lee are moving their business from 1,500 square feet at 3236 N. Rock to 2,200 square feet at Northrock. Ho says they wanted more visibility for the 10-year-old salon.

Stafford says there’s also a letter of intent for the company’s Northrock offices. If the lease happens, that center also would be fully occupied. Look for more news on that soon.

Occidental began the office project in December 2007 and moved its headquarters there in August 2008.

The retail portion broke ground in early 2009.

“We’re excited that in what’s been a challenging market here over the last year and a half that we’re able to get a couple of assets up to 100 percent occupancy,” Stafford says.

He says a lot of those deals have happened thanks to networking within the real estate community and through groups like chamber committees.

“It shows that doing some grassroots marketing has paid off for us really well.”

By Carrie Rengers | Tags: , , , , , Filed under Northrock Shopping Centre, Real estate, Retail, Salons | Comments Off