Profinium Inc. files foreclosure suit against Real Development

UPDATED — Minnesota-based Profinium Inc. has filed suit against Real Development and its principals, Michael Elzufon and Dave Lundberg, to foreclose on a few pieces of property they own here.

“It’s not nearly as icky as it might sound,” Elzufon says.

“Profinium’s great people,” he says. “We have a very long … and very good relationship with this bank.”

At issue are portions of the Petroleum Building at 221 S. Broadway and Broadway Plaza at 105 S. Broadway.

“We owe more than they’re worth,” Lundberg says.

Elzufon says the filing is mainly about one thing for Profinium.

“They need to protect their interests.”

Also, he says, it’s “for us to continue to make our exit out of various assets that we’ve had down there.”

Lundberg says there are liens and a couple of mortgages on the properties.

“In order to clean up the title, they’re going to foreclose on it,” he says. “It’s all worked out, but they filed it anyway. Their attorney jumped the gun a little bit.”

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You don’t say

“I can actually look out my window and see the property and keep an eye on the progress, which is pretty exciting.”

Michael Frimel of the Ambassador Wichita on leasing office space at Broadway Plaza until the hotel at Douglas and Broadway is ready later this year

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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Dream Catchers Case Management to move to the Garvey Center

WICHITA — Dream Catchers Case Management has signed a new lease with the Garvey Center.

“We provide case management services for people with intellectual and developmental disabilities,” says president Kathleen Blackburn.

Dream Catchers has been in Broadway Plaza but is moving for more space. Its new office will be about 800 square feet.

Blackburn says the Garvey Center made sense for several reasons, including parking, being centrally located and having a health club.

Larry Weber of Builders Inc. handled the deal for the Garvey Center, and Tony Utter of Utter Commercial Real Estate represented Dream Catchers.

Blue Diamond Energy to move into former Real Development office at Broadway Plaza

WICHITA — Earlier this summer, Have You Heard? reported when the Minnesota Guys moved their Real Development office out of Broadway Plaza and into the Wichita Executive Centre.

Now, Blue Diamond Energy is moving into the almost 3,300-square-foot space the Minnesota Guys vacated on the first floor of Broadway Plaza, which is at the southwest corner of Douglas and Broadway.

“That gives us a little bit of a storefront, if you will,” says president Ryan Schweizer.

He and business partner Travis Forsberg, who previously was president of Sapphire Energy of Wichita, made the decision.

Blue Diamond is mainly a petroleum land services company that consults with businesses across the country, but its primary client base is here.

Specifically, they are a lot of the same people who will be heading to the Petroleum Club across the street and to the Kansas Independent Oil and Gas Association, which also is in Broadway Plaza.

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Minnesota Guys move their offices

WICHITA — The Minnesota Guys have a tenant announcement, and this time it’s themselves.

Real Development’s Wichita offices are on the main floor of the company’s Broadway Plaza at 105 S. Broadway.

The guys are now in the process of moving to their Wichita Executive Centre at 125 N. Market.

“This move will allow us to move our sales and leasing efforts with our operations and property management services,” says CEO Michael Elzufon.

Equally important, it now frees up prime space at Broadway Plaza.

“We don’t need the street-level exposure that many other companies would benefit from,” Elzufon says.

He says there’s a growing demand for that kind of space downtown.

Elzufon says with tens of millions in investments his company is making between Broadway and Market — which one of his colleagues “affectionately calls the block of blight” — it makes sense to cater to businesses wanting the exposure.

He’s not in a hurry on finishing the move, though. Elzufon says it’s not like someone is making them snap to it.

He’s a little more blase.

“When we move, we move.”

Burrus Carr to open in Broadway Plaza Monday

WICHITA — The new Burrus Carr, Technology Solutions & Consulting opens downtown next week at Broadway Plaza at Douglas and Broadway.

Ben Burrus and Nathan Carr are starting the company to offer technology solutions to companies with one to 75 employees.

Burrus says he’s already been doing that kind of consulting work.

“I had so much of it I decided I might as well start out and make it official,” he says of forming the company.

“We’re going to try to hit the ground running and find some people who need it done.”

Mainly, the company will help small manufacturers, retailers and distributors develop software for things like customer and inventory databases.

Because a lot of companies like to have one-stop assistance with anything related to the Internet, Burrus says his company also will offer Web design services, though that’s not its focus.

“We want our customers to succeed,” he says.