bank owned multi-use development opportunity in … · property summary sale price: please call...

BANK OWNED MULTI-USE DEVELOPMENT OPPORTUNITY IN DOWNTOWN WICHITA

125 N Market Wichita, KS 67202

Landmark Commercial Real Estate | 156 North Emporia Wichita, KS 67202 | 316-262-2442 | www.landmarkrealestate.net

PROPERTY SUMMARY

SALE PRICE: PLEASE CALLAddress 125 N Market Wichita, KS 67202

Building Size 487,403 sq. ft.

Lot Size 0.96 acres

Year Built 1964 renovated in 2017

Zoning Central Business District

2018 Taxes $234,059.80

Floors 19

Parking 289 rentable spaces and valet service

Uses Retail, Hotel, Office and Apartment

Building BreakdownOffice Tower: 222,679 sq. ft.Hotel: 91,464 sq. ft.Garage: 164,260 sq. ft.

TenantsNew York Life, Oxford DevelopmentHoldings, LLC, Woolsey Petroleum,Edminston Oil and many more!

Click here to listen to existing tenant testimonials and to get an inside look at some of the recent upgrades


https://www.youtube.com/watch?v=2aQlc_iY5Jo&feature=youtu.be

BUILDING FEATURES


Garage and Valet289 total rentable spaces: • 12 spaces for valet bay/garage entrance •48spacesonthe2ndfloor •86spacesonthe3rdfloor •108spacesonthe4thfloor •35spacesonthe5thfloorCurrent vendor for valet is The Car Park. Valet has 28spots designated for their use and available Mondaythrough Friday 8:00am to 5:00pm except holidays.

Parking FeesParking Permit A = Premium Reserved $100/moParking Permit B = Reserved $80/moParking Permit C = Unreserved $60/mo

Upgrades• New on-site property management team• Modernized elevator with additional garage access• Common area renovations on the 11th, 12th. 14th & 17th floor• Complete roof replacement• Skywalk interior and facade repair• Chiller and boiler replacement• Construction of two suites with new building standardfinishesasashowcasetoprospects• Garage renovations• New building signage

BUILDING BREAKDOWN


TALLEST BUILDINGS IN KANSAS


0

50

100

150

200

250

300

350

400

EpicCenter

KansasState

Capitol

250Douglas

Place

125 NMarket

LightonPlaza 1 Sheraton

HotelTopekaTower 7101

Tower US BankTower Hyatt

RegencyHotel

DoubleTree Hotel

385

326

262 250

244 240

235 226 224.5 223

218

FEET

Tallest Buildings in Kansas

AERIAL


IN THE HEART OF DOWNTOWN WICHITA

WICHITA OVERVIEWDOWNTOWN DEVELOPMENTDowntown Wichita is the center of commerce and culture in the largest city in Kansas - offering vibrant cultural experiences, walkable amenities and endless activities. Much of downtown’s transformation began in 2010 with the adoption of Project Downtown: The Master Plan for Wichita. Since that time, over $694 million in both private and public sector funding has been invested in downtown.

Cargill Protein Group’s new $70 million headquarters where over 850 employees are is now just steps away from Old Town. Right next door, the $54 million restoration of the historic Union Station is nearing completion and the neighboring $23 million Spaghetti Works development is serving as a catalyst for the redesign and rebuilding of Naftzger Park, the premiere urban park.

A new $75 million ballpark that will reside on the Arkansas River’s west bank is set to be ready for the spring 2020 season. The ballpark will be home to Wichita’s new Triple-A minor league baseball team in addition to serving as a community gathering place for a variety of events.

RETAIL DEVELOPMENTThe retail market will continue to be active in Wichita and the surrounding areas. In the northeast quadrant, Chicken N Pickle is now open at the Plazzio development at 13th & Greenwich. Dave & Busters is under construction at Greenwich Place at Highway K-96 & Greenwich Rd. Greenwich Place is a 106 acre mixed-use enter-tainment, sports, and shopping district on the affluent “East Side” of Wichita. The property is home to an attractive lineup of national tenants including Ross, Ulta Beauty, TJ Maxx, Home Goods, Cost Plus and more. Kendra Scott, a national high-fashion jewelry store, recently opened at the Waterfront at 13th & Webb Rd. Starbucks has opened a new location at Kellogg and Greenwich and Fuzzy’s Taco Shop recently opened on north Rock Road. Wichita State University is continuing to undergo a major renovation as part of their Innovation Campus with two new retail strip centers called Braeburn Square. Revolutsia, Wichita’s first development made of shipping containers is located just west of Central and Hillside. The first tenants include German restaurant Prost, Little Lion Ice Cream, Taco-Tes, Salon Memoir, Azteka’s Boutique and several more will be announced soon.

DOWNTOWN GROWTH


An estimated 2,749 residents call our vibrant downtown home

In the past decade, residential units have doubled and in 2018 over 300 units came online

A recent study projects market capacity for an additional 2,000 new units to come online over the next 5 years

39% of the downtown population are ages 20-29 years old

4,108,053 sq. ft. of office space in the Central Business District with an occupany of 85%

Cargill’s new 188,000 sq. ft. collaborative workspace houses over 850 employees

The new scooter program that launched in July 2019 has made downtown quicker and easier to navigate

WICHITAWichita, the largest city in Kansas with a population 389,965, is the county seat of Sedgwick County. Major highways, including the Kansas Turnpike, US 400 and Interstate I-135, link the city with a large trade area that encompasses a population of more than one million people within a 100-mile radius. The nearest large cities are Denver to the west, Kansas City of the northeast, and Oklahoma City to the south, and Tulsa to the southeast.

BUSINESSIn the 20th century, aircraft pioneers such as Clyde Cessna, Walter Beech and Bill Lear began projects that would lead to Wichita’s establishment as the “Air Capital of the World.” In 1917, the Cessna Comet was the first airplane that was manufactured in Wichita. Cessna and Beechcraft remain based in Wichita today, along with Learjet and Spirit Aerosystems. Airbus maintains a workforce in Wichita. Since the growth of the aircraft industry began during the inter-war years, Wichita has been a leading producer of general aviation and commercial aircraft. McConnell Air Force Base was activated in 1951 and has remained an important factor in the community.

Wichita has long been known as a center of entrepreneurship. In addition to aircraft pioneers, Fred Koch founded Koch Industries in Wichita, and Dan and Frank Carney founded Pizza Hut. Coleman, Freddy’s Frozen Custard, and many other successful companies began in Wichita.

WICHITA OVERVIEW

LIVINGWichita, Kansas ranked #1 best city for manufacturing workers, #9 top city with the best work-life balance, #1 growth rate of digital services jobs, #2 recession-proof cities in the U.S. and #3 city for low startup costs in the U.S. Commute times are the lowest among the 100 major metropolitan markets. Wichita has also been named the most “Uniquely American” city by Newsmax Magazine, in addition to being designated an “All-American City” four times.

For More Information:

Craig Simon, CCIMBrokerOffice: [email protected]

Jim KorrochAssociateOffice: [email protected]

Landmark Commercial Real Estate, Inc. has extensive experience in the leasing and sales of retail, office, restaurant and industrial properties, as well as property management. We represent both Owners and Tenants/Buyers. Our extensive experience with both sides of the transaction gives us added insight in negotiating transactions that work for both parties. Landmark Commercial Real Estate maintains a large property database, which we utilize to provide Tenants with quick and reliable information. Landmark is also experienced in all phases of commercial real estate development including evaluation, conception, site selection, site planning, developmental services, construction management and leasing.

Landmark prides itself on our success in focusing on leasing and marketing properties for sale, lease and development. Many of the properties we handle are owned by institutional owners, investors and developers, who demand a high level of reporting and results. We are selective in the Listings that we accept, and we provide a commitment to results through implementation of a strategic marketing plan on every property.

ABOUT LANDMARK

DISCLAIMER

Information included herein was provided by third parties and should only be used for informational purposes. Landmark Commercial Real Estate, Inc and their respective agents, representatives, and employees, (i) make no representations or warranties of any kind, express or implied, with respect to the accuracy or completeness of any information included herein, and (ii) shall have no liability whatsoever arising from any errors or discrepancies between the above listed information and actual documents.

156 North EmporiaWichita, Kansas 67202

www.landmarkrealestate.net

bank owned multi-use development opportunity in … · property summary sale price: please call...

Documents