SUMMER 2023 CORE REPORT
Despite changes to the economy, work habits, and the growth of Wichita as a whole, the Core continues to evolve and be the heart of the City. The City's commercial core is home to three of the top five largest office buildings in Wichita, over 500,000 square feet of retail space and attractions such as Intrust Bank Arena, Riverfront Stadium and Century II Performing Arts & Convention Center. In recent years, the Core has seen several companies (Cargill, IMA and Fidelity Bank to name a few), complete major construction projects, committing themselves to the long term success of the area. In addition, in 2022 the Kansas Health Science Center-Kansas College of Osteopathic Medicine became the first new medical school in Kansas in 100 years. NAI Martens breaks Wichita's Core down into 4 neighborhoods; the Central Business District, the Deleno District, the Old Town District and the Douglas Design District the each with its own feel and its own restaurants, shops, and office spaces. This report seeks to give a look at recent activity in the core, including some of the more unique or impactful projects that continue to bring new life to Wichita's core.
1330 E. Douglas Wichita, KS 67214 316.262.000 naimartens.com
Central Business District Founded in the early 1870s, the CBD quickly became the commercial and financial center of Wichita. The area was home to many of the city's early businesses including banks, hotels and department stores. The CBD also played a role in Wichita's aviation industry, as it served as home the headquarters of several major aircraft manufacturers. Today the CBD is still a major commercial and financial center of the city with IMA, Cargill, Emprise, Intrust and Fidelity Bank with their headquarters there. Recently, a new industry, medical education, has begun to transform the CBD. The Kansas Health Science Center opened in 2022 and will eventually remodel five buildings in the CBD, totaling over 350,000 SF, to accommodate the school's facility and provide housing for its students. In August, the Wichita City Council gave approval to either sell or lease two tracts of land in the CBD for the KU-WSU biomedical campus. The $300-million project, expected to break ground in July 2024 would include a 471,000 SF health sciences center. The project could bring an estimated 3,000 students and 200 faculty and staff to the area, and could spur as much as $100 million in new investment in the area.
OFFICE VACANCY
27.0%* OFFICE ABSORPTION
-54,650* OVERALL RENTAL RATE
$14.55*
The Southeast corner of Broadway and William and the Wichita Transit Center at 214 S. Topeka appear to be the site of the 471,000 SF KU-WSU biomedical campus
*= Year to date 1330 E. Douglas Wichita, KS 67214 316.262.000 naimartens.com
Central Business District
Opening 2023
The National 150 N. Main | 156,000 SF
The former Commerce Bank building, vacant since 2013 will be converted into a mixed use development consisting of 152 luxury apartments, offices, and retail.
NICHE 124 S. Broadway | 49,702 SF
Now Open!
Kansas Health Science Center 130 S. Market | 350,000 SF
This new state of the art training facility for osteopathic physicians sits at 230 E William & 130 S. Market. The Kansas College of Osteopathic Medicine will renovate five downtown buildings to accommodate the facility and student housing.
Now Open!
Vacant for over 20 years, the former Henry's department store is now home to Wichita State's National Institute for Culinary and Hospitality Education (NICHE).
Featured Business Downtown Nutrition When Alisha Ream opened Downtown Nutrition in October 2019, the mission was simple: Provide an alternative, healthy food option to downtown Wichita. Four years later, this unique space is still the only of its kind in the core. Alisha started her career at Case & Associates but when presented with a coupon for a smoothie and experiencing a Herbalife Nutrition Shop, she was all in. She wanted to make an impact on others health. Three shops and twelve employees later, she feels she can do this till retirement. Since the store at 108 S. Emporia opened, its popularity has grown and the services offered changed to support its clients. While the store has a few tables and chairs and a bar set up. Downtown Nutrition also offers online ordering and deliver. One thing the store said is challenging is parking. While designed parking spots for employees and customers along city streets would be helpful, parking spaces can be hard to come by during peak hours. One thing the shop hopes to see as the core is being redesigned and redeveloped, is more family or community outdoor activities or events happening and improved awareness of them. Downtown Nutrition credits the hard work of those who have worked bringing more users to the core and looks forward to more development which will bring more customers through the doors.
Downtown Nutrition serves shakes, energy teas, protein iced coffee, aloe shots and good vibes. They enjoy giving back to the community by surprising business with shakes and teas. The shop has even been featured on EB Wichita and was a nominee for Best of Wichita in 2022. They are opened from Monday through Friday 7:00 A.M. to 2:00 P.M. and Saturday & Sunday 9:00 A.M. to 3:00 P.M.
Old Town The Old Town District was originally developed as a warehouse and manufacturing district. The area was home to several major companies, including International Harvester, Coleman Company, and Keen Kutter. By 1911, Wichita was the nation's second-largest distribution point for agricultural implements. However, as the country's transportation industry shifted from rail to interstate trucking, many of the operations in Old Town were closed and the buildings were boarded up. In the 1980s, local developers began to revitalize the Old Town District by restoring many of the historic buildings, which give the district its distinctive character. Today, Old Town is home to a variety of businesses, restaurants, shops, bars, apartments and art galleries, but is facing challenges with the loss of one of the pillars of the development, Regal Old Town theatre and the subsequent closure of the public parking garage that adjoins it.
RETAIL VACANCY
9.6%* RETAIL ABSORPTION
Flat OVERALL RENTAL RATE
$16.12* *= Year to date
Old Town is currently dealing with the closure of the Regal Old Town theatres. While there has been interest in the property, as of August of 2023, no tenant has been announced. 1330 E. Douglas Wichita, KS 67214 316.262.000 naimartens.com
Old Town
Now Open!
The Arcade 906 E. 3rd | 12,540 SF
This family entertainment option in the core got an upgrade with a move to an expanded space in Old Town. The move allowed them to open party rooms, a bar and a patio.
McCown Gordan 255 N Mead | 23,000 SF UNnodwe rO Cpoenns! truction!
HiTone Lofts 701 E. Second | 38,562 SF
A historic warehouse in the Old Town District is currently being renovated into HiTone Lofts, a residential property with 72 units and ground-floor retail space. Plans also include constructing an addition on the south side of the building that will serve as a rooftop penthouse.
Now Open!
McCown Gordan, one of the nations leading construction managers purchased their building after leasing for nearly two years. The general contactor occupies 11,500 SF on the second floor.
Douglas Design District The Douglas Design District is a three-mile stretch located located along Douglas Avenue between Washington and Oliver Streets, and is known for its unique architecture and its commitment to design. This vibrant and growing district is home to a variety of businesses, restaurants, and shops, and it is known for its unique architecture and its commitment to design. The history of the Douglas Design District dates back to the early 1900s, when the area was home to a number of manufacturing and industrial businesses. In the 1980s, a group of local residents began to revitalize the Douglas Design District, restoring many of the historic buildings, which gave the district its distinctive character. Today, the Douglas Design District is a thriving destination for people from all over Wichita. The district is home to over 500 locally owned businesses, including boutiques, art galleries, restaurants, and coffee shops. The district is also home to a number of events, including the 2nd Saturday Art Walk and Open Streets ICT.
RETAIL VACANCY
9.6%* RETAIL ABSORPTION
Flat OVERALL RENTAL RATE
$10.08*
Redevelopment of the 2200 block of E. Douglas continues with new storefronts and new businesses such as Poise Aesthetics at 2216 E. Douglas.
*= Year to date 1330 E. Douglas Wichita, KS 67214 316.262.000 naimartens.com
Douglas Design District
Under Construction
Uptown Landing 1st & Hillside | 130 Units Construction is well underway on the second phase of the Uptown Landing Apartments development. There will be a mix of one, two and three bedroom units.
Evergy Connect Now Opeen!!
Hopping Gnome Brewery 1719 E. Victor | 3,400 SF
In May 2023, the Hopping Gnome tap room moved from it's 700 SF taproom to a new space nearly three times that size which includes a 2000 SF covered patio and outdoor area.
Now Open!
111 S. Ellis | 3,000 SF Evergy Connect, a new facility near downtown Wichita operated by the state's largest electricity provider, aims to help customers who might be going through a challenging time while providing other services for the community.
Delano The Delano District has a rich and colorful history. It was originally founded in 1870 as a small town called Elgin, which was located across the Arkansas River from Wichita. The town quickly grew as a result of its location on the Chisholm Trail, and became a popular destination for cowboys, who would come to the town to rest and relax after long cattle drives. In 1880, Wichita annexed Delano, and the town became known as West Wichita. The area continued to grow and develop in the late 19th and early 20th centuries, and it became a thriving commercial and residential district. Today, the Delano District is a thriving arts and entertainment district. It is home to a variety of restaurants, shops, bars, and art galleries. It is also the site of Wichita's Riverfront Baseball stadium which is not only the home of the Wichita Windsurge but hosts community events year round.
RETAIL VACANCY
5.8%* RETAIL ABSORPTION
Flat OVERALL RENTAL RATE
$12.44*
One of the biggest questions for Deleno and the core is the future development of the West bank of the Arkansas River. Several plans have been put forth, but no construction has started.
*= Year to date 1330 E. Douglas Wichita, KS 67214 316.262.000 naimartens.com
Delano
Now Open!
225 Sycamore 225 N. Sycamore | 204 Units The five-story building features 204 residential units plus 10,000 SF of retail on the ground level. Project Downtown recognizes the spaces as a "key catalyst site." The apartments include a courtyard with a pool, fire pit, grill, a fitness center, and a clubhouse.
Odd Fellows Hall Now Opeen!!
Big Brothers Big Sisters 624 W. Douglas | 12,000 SF
A two-story, 100-year-old brick building in Delano, which had most recently been Crawley's Office Furniture and had once housed a second-floor bowling alley, has a new use as an office for the longstanding nonprofit organization.
Now Open!
930 W. Douglas | 12,674 SF From 1911 to the 1980's, this was the meeting place of the Independent Order of the Odd Fellows. It was redeveloped into a mixed use space with Leslie's Coffee on the first floor and and event space on the second.
NAI Martens is the largest full-service commercial real estate firm in Kansas. Founded in 1948 and headquartered in Wichita, NAI Martens provides a vast array of commercial real estate services throughout south-central Kansas. President Grant Glasgow, SIOR leads a team of professionals with over 150 years of combined commercial real estate experience.
1330 E. Douglas | Wichita, KS 67214| 316-262-0000 FOLLOW US! Member of NAI Global with 300 + Offices Worldwide THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED TO BE RELIABLE, BUT NO GUARANTEE OF ITS ACCOURANCY IS MADE BY NAI MARTENS