Dragon Estate investors buy floors in Sutton Place and Broadway Plaza and plan more purchases downtown

WICHITA — What started as a real estate search for a law office has led Abdul Arif to become a new investor in downtown along with several of his friends and business associates.

The members of the group, who operate under the name Dragon Estate, are Asian immigrants.

“This is our home,” Arif says of how they now view Wichita. “This is where we believe in.”

The other investors are Mui Nguyen, who owns Roof Mechanics; Vinh Le, a Boeing engineer; and Tariq Azmi, a systems engineer with CGF Industries.

“This group of guys (is) who I normally hang out with,” Arif says. “They’re always looking to do something.”

Boeing has told Le he has to move to Seattle. He doesn’t want to, though, so that’s part of the group’s motivation.

“They’re looking for investments and things to keep him here,” Arif says.

So far, they’re investing in downtown one floor at a time.

“Someone told us there’s a good deal at Sutton Place,” Arif says of the building at Market and William.

Real Development owns several floors there. Two floors that others own are in foreclosure.

So far, Arif and his associates have purchased the first floor of Sutton Place.

Arif says he’s in negotiations to buy the foreclosed floors as well.

Once the group has more floors, its plan is to develop residential condos there.

That’s also where Arif will move his Arif & Haeri law office.

Arif says the first floor of Sutton Place will remain office space. He’s also in negotiations for a new restaurant to move into the former Daily Grind space on that floor.

“I’m supposed to sign a lease fairly quickly.”

All About Business, a marketing and consulting firm, also is moving its office there.

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