Month: May 2017

The pace of retail construction remains brisk in Wichita with national retailers showing an increased interest in the market. In the first quarter, developers started construction on nine buildings totaling112,961 square feet. This article from the May 2017 issue of the Heartland Real Estate Journal features an interview with Tom Johnson, CRE President of NAI Martens. A Growing Number of National Retailers Have Wichita on Their Radar Screen

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For Immediate Release   Contact:            Andrew Braun 316-262-0000 Abraun@martenscos.com   WICHITA, KS – May 30, 2017 – NAI Martens commercial real estate broker Troy Farha has closed his third Wichita hotel deal of 2017 with the sale of the Wichita Inn Suites at 5211 E. Kellogg. The 88-room select service hotel features a fitness center and outdoor pool, and sits less than two miles from Simon Property’s Towne East Square.   Earlier this year, Farha also completed sales on:   Northrock Suites at 7856 E. 36th N., a 101-room select…

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NAI Global recently posted this article about last-mile delivery and how it impacts commercial real estate. Last-mile delivery is the process of getting a product to its final destination. With e-commerce growing in popularity, more companies are focusing on same and next-day delivery. This means that the focus on last-mile distribution has become more important than ever as customers begin to expect more out of their online shopping experiences. If you thought that last-mile distribution only affected online retailers, you’re wrong. It has an impact on commercial real estate as…

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With the Federal Reserve raising its benchmark short-term interest rate in March for the third time since December 2015 and two more rate hikes expected by the end of 2017, interest rates are becoming an increasingly relevant factor in analyzing the near-term future of U.S. commercial real estate. Higher interest rates make borrowing more expensive for owners, which can have a constraining effect on the commercial real estate market. All else being equal, cap rates will go up and property prices will come down. Yet higher rates also typically signal…

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Welcome to Monday’s with Martens. I’m Tom Johnson, President of NAI Martens, and I’m pleased to share with you another installment of our weekly informational update on Wichita and the commercial real estate market. This week, we will take a look at some changes in office utilization and parking trends in the commercial real estate market. Parking’s not the most glamorous of subjects – but is vital to nearly every major commercial real estate development; particularly those in the core area. In an era characterized by ride-sharing apps, remote workers,…

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NAI Global took a look at how E-Commerce is changing the way that many of us shop. This, in turn, has caused a number of companies to change the way they do business.  Here are some examples: 1. Creating regional supply centers When Amazon Prime was unveiled, it completely changed the way e-commerce operated and what customers expected. Next-day delivery went from being a luxury to something that was generally expected; in some cases, same-day delivery was even an option. This change of delivery expectations created a need for more supply centers…

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Welcome to Monday’s with Martens. I’m Tom Johnson, President of NAI Martens, and I’m pleased to share with you another installment of our weekly informational update on Wichita and the commercial real estate market.  You’ve run out of places to stash your old family room furniture, your high school sports trophies you can’t part with, Grandma’s wedding dress and those bulging boxes of tax records. What to do? Rent a 10-by-15-foot storage unit, for about $100 per month, and stick all the excess stuff in there. Even if your home…

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Everywhere you look in Wichita, properties are being redeveloped.  The Broadway Autopark parking lot is turning into apartments,  Union Station has moved into the second phase. But do you know when the time is right for redevelopment? Regency Centers put together this article on identifying the signs that a property is ready to be redeveloped. The role of redevelopment is playing a needed part in transforming old, worn-out malls and shopping centers into vibrant centers of shopping, entertainment, and the outdoors. Many industry leaders, such as those present at the…

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  Welcome to Monday’s with Martens. I’m Tom Johnson, President of NAI Martens, and I’m pleased to share with you another installment of our weekly informational update on the commercial real estate market. As one of the fastest-growing workplace movements of the last decade, coworking enables people from diverse backgrounds to work together in a common space. The number of coworking spaces around the world has increased by nearly 700 percent since 2011. Today, a broad range of businesses – ranging from technology and professional service firms to consumer product…

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