Retail center, restaurant under development at Regency Lakes at 21st and Greenwich

WICHITA — One of the last phases of the Regency Lakes shopping center at the northwest corner of 21st and Greenwich is under development.

Ken Saville (from left) and Brad Saville of Landmark Commercial Real Estate and Tom Schmeidler with SBA Construction are building a new retail center at Regency Lakes at 21st and Greenwich.

Ken Saville (from left) and Brad Saville of Landmark Commercial Real Estate and Tom Schmeidler with SBA Construction are building a new retail center at Regency Lakes at 21st and Greenwich.

Four S Development, a group of local investors, is building an 11,375-square-foot strip center on the lake in front of Cabela’s.

“We envision it being a four-tenant building,” says Brad Saville, a partner in the group and president and CEO of Landmark Commercial Real Estate. “We’ve got one lease signed.”

Saville confirms the tenant is a restaurant that should be open before the holidays. It will take 2,900 square feet and have a patio overlooking the lake.

Sources say Papa John’s Pizza franchisee Terry Newman is doing a new concept in the space, and it’s likely based on burritos. Newman didn’t return calls to comment.

Landmark’s Ken Saville is handling leasing for the rest of the strip center.

“We’re thinking there could be one other small restaurant, and the rest would be retail,” says Brad Saville.

Saville says he first began work at Regency Lakes when he helped Cabela’s purchase property there. Then, he helped Hobby Lobby with its lease there.

“That’s all kind of led to this last parcel.”

Innovative Construction Services designed the center, and SBA Construction is building it. Andover State Bank provided financing.

Saville says retail development in the K-96 and Greenwich area will be significant in the next three years.

Along with the Waterfront development at 13th and Webb, he says, “Really, I think this is the highest-growth area in the whole city.”

 

 

Kansas Department for Aging and Disability Services signs new downtown lease

WICHITA — Another state agency has signed a lease at 266 N. Main St., which is known as the former Ryan International Airlines building, and this will be the final one because the building is now full.

“The building represented the chance to put some agencies together under one roof,” says Mark McGivern, director of the Office of Facilities and Procurement Management within the state Department of Administration.

“It made sense from our end.”

The Kansas Department for Aging and Disability Services will join the Kansas Corporation Commission, the Kansas Department of Labor and the state Board of Indigents’ Defense Services.

The Department on Aging has a 10-year lease for 5,666 square feet on the second floor. It’s slated to move in the first of September.

Currently, the department is in the Finney State Office Building at 230 E. William.

In June, Have You Heard? reported that nine state agencies, including more than 700 employees, will leave the city-owned building when the state’s lease expires on Sept. 30.

“The Wichita office market was quite attractive,” McGivern says.

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Kansas Corporation Commission signs lease at former Ryan building

072413ryanUPDATED — There’s another new lease at the former Ryan International Airlines building at 266 N. Main St., and it happens to be another state agency.

“We’re slowly filling it up with state leases,” says Craig Simon of Landmark Commercial Real Estate, who handled the lease.

“The most recent one that got signed and approved was the Kansas Corporation Commission,” Simon says.

The commission is taking 17,267 square feet on the second floor.

Currently, the commission is in the Finney State Office Building at 230 E. William.

In June, Have You Heard? reported that nine state agencies, including more than 700 employees, will leave the city-owned building when the state’s lease expires on Sept. 30, 2014.

The Kansas Department of Labor, which is temporarily in the Finney building, signed a lease for the former Ryan building in September.

The state Board of Indigents’ Defense Services, which has been at 150 N. Main, signed a lease in the former Ryan building in October.

“There’s one more,” Simon says of state agency leases, “and we’re waiting to get the lease signed.”

That likely will be in the next week or two, he says.

“And then the entire building will be full once that’s complete.”

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Kansas Department of Labor to move to former Ryan International Airlines building

WICHITA — The Kansas Department of Labor, which is temporarily located at the Finney State Office Building, has signed a lease at the former Ryan International Airlines building at 266 N. Main St.

“They looked at several buildings,” says Chuck Knapp, Department of Administration spokesman. “Labor decided that that building best met their needs.”

The 10-year lease, which has two renewal options of five years each, is for 9,113 square feet.

Level 3 Communications and Hubris Communications are already at the building. Level 3 is downsizing its space, and that’s what the Department of Labor is taking.

Knapp says the department had been in another downtown building but was having some issues, so it made a quick move to the Finney building.

Craig Simon of Landmark Commercial Real Estate handled the deal for the Main Street lease, which begins Nov. 1.

Simon also recently handled the sale of that building when Tom Schmeidler of SBA Construction, his brothers and another investor purchased the property out of foreclosure.

More news is coming about the building soon.

There’s also news coming about another departure from the Finney building.

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Former Ryan International Airlines and Southwestern Bell building sells downtown

WICHITA — It’s not every day that a bunker sells downtown, but that’s what Craig Simon says happened today.

The former Ryan International Airlines building at 266 N. Main St., which was built for Southwestern Bell in the late 1960s, sold.

“It’s a very unique building,” says Simon, a broker with Landmark Commercial Real Estate who handled the sale. “It’s like a bunker.”

The approximately 54,000-square-foot building has 14-inch walls and can withstand 200-mile-an-hour winds. Though it’s only two stories, it is built to hold six.

“If there’s a storm, there’s no breakage in coverage,” Simon says.

He says it’s a data company’s dream, and there are two such companies – Level 3 Communications and Hubris Communications – in there now.

A contractor and some other investors are the ones who bought it, though.

Tom Schmeidler of SBA Construction, his brothers and another investor purchased the property out of foreclosure.

“It has potential to become a very, very good building again,” Schmeidler says. “It’s in the best part of downtown that you could hope for for an office building.”

When Rubloff Jet Express purchased Ryan in 2004, it acquired the building.

“They’re not usually in the business of buying office buildings,” Simon says.

Rubloff hired Simon about two years ago to help lease the building. Simon says he was close to signing the Department of Defense and the Small Business Administration last summer when Rubloff, which owns a number of shopping centers, encountered financial difficulties.

“They were struggling with a lot of properties,” Simon says.

Though the building had gone into receivership and Simon wasn’t able to lease to new tenants, he was able to help sell the building.

Complicating the deal was an IRB that Ryan had through the city. It was set to expire next year. The city still had a deed on the building as collateral but agreed to retire the IRB early.

Simon will continue handling leasing at the building, and Landmark will manage it as well.

“There’s a lot of interest right now,” Simon says of about four serious prospects.

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Twotrees Technologies is the first tenant in the new Firestone Place

Brad Saville of Landmark Commercial Real Estate in front of the new Firestone Place.

UPDATED — The former Automobilia space at the northeast corner of First and Emporia is getting a new life along with some new tenants.

“It’s kind of something we’ve been looking at for a long time because we’ve got a vested interest in our property across the street,” says Brad Saville, president and CEO of Landmark Commercial Real Estate.

The Landmark office is across the street on the southeast corner. Saville, Landmark broker Scott Harper and another partner formed 2point LLC to redevelop the former Automobilia space. They’re calling it Firestone Place.

Saville thinks the original occupant of the building was a Firestone tire dealership. He’s still trying to learn more about it.

“I’m really interested in the history of it.”

SBA Construction and Innovative Construction Service are remodeling the 8,271-square-foot space. Features include exposed brick, open ceilings and easy-access parking.

There’s room for three tenants in the building. Harper and Landmark’s Craig Simon are handling the deals.

One, Susie and Jim Smith’s Twotrees Technologies, is signed.

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