W I C H I T A
WICHITA RECAP
ComfortCare Relocates to Downtown Wichita
Work Set to Begin on $110M Ballpark District Development
ComfortCare Homes, a provider of care for individuals with Alzheimer's and dementia, is moving its headquarters from the Equity Bank building to the Farm Credit Building in downtown Wichita. The relocation, expected to be completed by early January, will give the company 1,400 additional square feet ComfortCare and its partner, House Call Medical Services, will occupy 5,300 square feet in the new location, which is near the Wichita Biomedical Campus and the Alzheimer's Association office. The move supports ComfortCare’s growth, including 90 residents across 10 homes in Wichita and Newton.
EPC Real Estate Group's $110 million Ballpark District development near Wichita's Riverfront Stadium is on track to begin construction by year's end, with completion expected in 2026 The mixed-use project will include a hotel, luxury apartments, retail space, and a parking garage.The hotel will feature a public restaurant and a rooftop lounge Across McLean Boulevard, 181 luxury apartments and 10,000 square feet of retail space are planned. The development is expected to complement other nearby projects, including the multi-modal transit facility "The Hub." Coordination with the city, developers, and the Wind Surge baseball team is key for successful construction
WICHITA RECAP
Crown Uptown Considers Demolition
The owner of Wichita's Crown Uptown Theatre, Mike Brown, is considering demolition or redevelopment of the 100-year-old venue if the City Council denies his request to increase its occupancy from 850 to 2,066. Brown, who purchased the theater in 2023, argues the current occupancy limit makes the venue unprofitable Despite approval from the Metropolitan Area Planning Commission, the District 1 Advisory Board rejected the proposal over concerns about parking and neighborhood impact If the City Council does not approve the change, Brown plans to sell or repurpose the site for other developments like a hotel or retail space
Holiday Spending to Rise in 2024, but Retail Space Remains Scarce
Despite concerns over inflation, the 2024 holiday shopping season is expected to see growth of 2.5% to 3.5%, with total sales projected to reach up to $989 billion. While spending remains strong, the tight retail real estate market means the impact on space availability may be limited. Retailers are starting sales earlier this year to capture early spending, with many consumers also increasing spending on travel and entertainment. However, the retail vacancy rate remains low at 4 1%, and space for expansion is scarce. Retailers' fourth-quarter performance will likely influence long-term real estate strategies for 2025.
WICHITA RECAP
Wichita Biomedical Campus
Construction on the $300-million Wichita Biomedical Campus has begun to take shape, with Phase 1 progressing steadily. Crews have completed belowground work and leveled the site at the southeast corner of Broadway and William, where an eight-story, 350,000 square-foot building will rise This first phase, expected to be completed by the end of 2026, will house classrooms, labs, offices, and advanced technology spaces. Students will arrive in spring 2027. The project is being led by Hutton and JE Dunn, with design collaboration from Helix Architecture + Design and CO Architects.
Housing for Biomed Campus
Arena South Management is revitalizing the 333 E. English building near the Wichita Biomedical Campus into a mixed-use development called The Arnold The project will feature 42 residential units and 5,000 square feet of retail space, aimed at accommodating students from nearby medical schools. The developers are requesting city incentives, including a community improvement district and tax increment financing, to support the $6 9 million project. Construction is set to begin in December 2024, with the development expected to be completed by the end of 2025.
WICHITA RECAP
WICHITA RECAP
J.Crew to Open New Factory Store at Bradley Fair in 2025
J.Crew is returning to Bradley Fair with a new factory store at 1800 N Rock Road, Suite 110, next to Trader Joe’s. The store, set to open in early 2025, follows the closure of a previous J.Crew location at the shopping center in 2019. The factory store will offer affordable, stylish clothing for families. J.Crew’s return comes as part of the retailer’s broader expansion of factory stores in several states, including Kansas, where it is also planning a location at BlueHawk in Overland Park. The company emerged from Chapter 11 bankruptcy in 2020.
Businesses Prioritize Flexibility in Office Lease Terms
A recent survey by Visual Lease shows that flexibility in lease terms remains a top priority for businesses when securing office space. According to the survey, 61% of real estate executives say flexibility is crucial due to ongoing market uncertainty. Companies today prefer shorter-term leases with options to expand or contract as needed, a shift from the typical 10-year leases of the past. This desire for flexibility stems from challenges in predicting office space needs post-pandemic. While leasing activity is picking up, businesses are still cautious, with many deferring upgrades or relocations due to economic uncertainty.
