Marketing Package - Landmark Commercial Real Estate

REGENCY LAKES
K-96 & GREENWICH
All information is deemed to be accurate, however, Broker makes no guarantee as to the accuracy of the terms and conditions represented herein.
For more information
on this property
please contact:
Ken Saville
ksaville@landmarkrealestate.net
(316) 262-2442 or (316) 393-4460
Landmark Commercial Real Estate, Inc.
156 North Emporia, Wichita, KS 67202
316-262-2442
(f) 316-262-2696
www.landmarkrealestate.net
Property Highlights
• South of highway K-96 on the west side
of Greenwich Road. This parcel sits east
of Cabela’s on the lake.
• Building Size: 11,469 sq. ft.
• Available Space: 1,400 - 3,250 sq. ft.
• Lease Rate: $19.50 per sq. ft. NNN
• Signage: Available on the K-96 exit ramp
• Current Tenants: Super Target, World Market, Hobby Lobby, Chili’s, Hampton Inn and
Suites, Subway, Cabela’s, Kanza Bank, Blue
River Mexican Grill, Mode Denim Apparel,
and Jewelry Savers.
• Neighboring Retail: Holiday Inn and
Suites, Staybridge Suites, Sonic Drive-In,
Arby’s, Firestone Auto Care, GoRun, Academy Sports, All Paws Pet Center, Custom RX
Pharmacy, Firehouse Subs and Greenwich
Place under construction including Bed Bath
and Beyond, Home Goods, Bye Bye Baby,
and Wichita Sports Forum
Aerial
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THREE BED BATH AND BEYOND CONCEPTS TO BE
RETAIL ANCHORS AT GREENWICH PLACE
BY CARRIE RENGERS
The Wichita Eagle
Wichita’s next major retail development has landed its first three stores.
Greenwich Place, the 106-acre development at K-96 and Greenwich that will be home to the newly
announced Wichita Sports Forum, will have three concepts owned by New Jersey-based Bed Bath &
Beyond.
Bed Bath & Beyond is taking 38,000 square feet, World Market is taking 17,000 square feet, and Buy
Buy Baby is taking 15,000 square feet.
“We have great anchors to start the project,” says Christian Ablah, one of the partners in Greenwich
Place and the spokesman for the retail development there.
Buy Buy Baby, which sells a variety of products for infants and toddlers, is new to the market.
Bed Bath & Beyond will be leaving Bradley Fair, and World Market is making a short jaunt across
the street from its current home at Regency Lakes.
“There was a desire to put all three stores together,” Ablah says.
The stores will open in early 2016.
“As we developed Regency Lakes, we have seen in the market that big box retailers want to
consolidate their concepts into one location,” says Amy Liebau, a spokeswoman forLaham
Development, the Regency Lakes developer.
Ablah says there are several things spurring the growth in the greater K-96 and Greenwich area, including momentum from Regency Lakes tenant Cabela’s, which
opened in 2012.
“That is what has helped this intersection blow up.”
He says new traffic lights are “just a great amenity” and the widening of Greenwich “helps the whole area.”
There is $122 million in sales tax and revenue bonds that are going to improve the area, including a recently completed new interchange, which Ablah says is
huge.
“This area has become a regional destination site,” he says. “That is what has helped us get national retailers’ attention.”
Ablah says strong retailers such as Costco and Whole Foods opening elsewhere on the east side also help with a national confidence in Wichita and a commitment
to the city.
“They help validate what we all want to see in our market,” he says. “That’s another vote of confidence in our market.”
Ablah says it helps that there’s very little vacancy in northeast Wichita.
“We’re working with several national retailers,” he says of Greenwich Place.
Classic Real Estate, where Ablah works, and Walter Morris Cos. are handling leasing at the development.
Key Construction is the contractor for the first three retail outlets.
There will be several retail areas within Greenwich Place and a number of potential restaurant sites along the highway as well.
“K-96 is really important to understand how others view our market,” Ablah says.
He said it’s a regional traffic generator.
“That’s the way people in Andover go to work,” he says. “It’s the way we all travel.”
Last week, commercial broker and developer Tymber Lee announced that Wichita Sports Forum will replace the GoodSports project that had been planned for
Greenwich Place.
The city and master developer Wichita Destination Developers said GoodSports developer Jerald Good failed to meet deadlines and prove financial ability to
get the project done.
Lee and his partners plan a $14 million, 148,534-square-foot field house that is double the size and price Good first proposed to the city several years ago.
The master developer now plans a hotel at Greenwich Place, which Good once planned to build. It will be immediately south of the Sports Forum, though nothing
has been announced yet about what size or hotel brand it will be.
Ablah said Bed Bath & Beyond will help generate more retail activity at Greenwich Place.
“Bed Bath is one of the most desirable co-tenants … in the country,” Ablah said. “A lot of tenants want to be located near them.”
He said now is a good time for retail development in Wichita in general.
“I think it’s hot,” Ablah says. “There’s a lot of activity right now.”
Liebau of Laham Development, which is also the Bradley Fair developer, said that stores coming and going at developments “is part of the natural rhythm of
retail.”
“We’ve been working with tenants that have been interested in Bed Bath space for some time,” she says. “We’re looking forward to bringing new concepts to
Bradley Fair that our customers have been asking for.”
FIREHOUSE SUBS TO OPEN AT REGENCY
LAKES
BY CARRIE RENGERS
The Wichita Eagle
The developers building a strip center within Regency Lakes at the northwest corner of 21st and Greenwich have landed another
tenant.
Firehouse Subs will join previously announced tenants AT&T and Denver Mattress at the 14,000-square-foot center under
construction between Chili’s and Hampton Inn.
“Firehouse Subs will fit great in Regency Lakes,” says David Shannon, who is building the center in partnership with his father, Ken,
and Scott Ritchie III.
“We’ll be two-thirds pre-leased,” Shannon says. “I just think this bodes well for filling up the rest of the space.”
There is 4,800 square feet left to lease within the center.
“I’m continuing to be just pretty optimistic about the whole area,” Shannon says.
He calls Firehouse franchisees Andrew and Megan Reece “wonderful operators.”
This will make Wichita’s third Firehouse Subs.
The Reeces opened the area’s first at Eastgate Plaza at Kellogg and Rock Road in late 2013.
Franchisees Dana and Troy Todd opened a second Firehouse Subs in NewMarket Square in October.
Megan Reece says the concept has been received well in Wichita.
“It’s been going fantastic,” she says.
Though she says the business keeps her and her husband “on our toes” already, she says it makes sense to open a second one.
“We love being our own boss,” Reece says. “It’s been a great concept for us.”
She says she thinks the K-96 and Greenwich area is the next Rock Road for Wichita.
“There’s been a lot of interest up there.”
Christi Royse of J.P. Weigand & Sons handled the deal for the landlord, and Weigand’s Doug Malone and Michael
Malone represented the Reeces.
Look for Firehouse Subs to open late this year around the holidays.