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Market Insight: City of Wichita Economic Development Policy and Incentives

Download a printable copy of this Market Insight by clicking here. In 2017, the City of Wichita adopted a Speculative Industrial Building Program. The Spec Industrial Program provides an incentive to provide large industrial/warehouse space needed in Wichita for Economic Development recruitment. Upon city council approval, eligible projects—see building requirements below—will receive sales tax exemption on all materials, as well as a 95% tax abatement for the first five years. The following five years 50% tax abatement will be granted contingent upon an occupancy rate of at least 50%. The…

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Industry News 

5 Ways Parking is Impacting Today’s CRE Building

If you’ve ever driven by a shopping center where all of the cars are concentrated around the anchor store but most of the spaces are empty then it’s easy to see parking’s impact on CRE. For decades, the standard was to build between 4 and 6 car spaces for every one thousand square feet of space. As mall businesses have closed what is left is a vast wasteland of concrete that is underused. Builders and tenants end up paying more money for extra parking spaces. Even at full occupancy, according…

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Industry News 

Trending Fitness Concepts Coming to a Neighborhood Near You

From indoor climbing gyms to ping-pong clubs and ballet studios, there has been a big push for unique “fitness concepts” in recent years in vacant shopping centers and malls. We expect this trend to continue into 2018 and beyond with a variety of new fitness concept trends coming to a neighborhood near you. Charlotte Country Club, Fitness Center, and Resort In-One In Charlotte, unique fitness concepts are taking over the city. One fitness concept in particular just opened at the end of last year called Life Time Athletic. The builders…

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Industry News Research 

Q2 2018 Wichita Market Update

NAI Martens presents the Q2 2018 Market Update. Inside you will find market trends and statistics for local commercial real estate from the second quarter! Q2 2018 Market Update Having trouble viewing? Click here ABOUT NAI MARTENS 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 and Topeka. NAI Martens is led by CEO Steve Martens, CCIM, CPM, SIOR and President Tom Johnson, CRE – two industry…

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Industry News 

These International Retailers Are Looking to the U.S.

International retailers are drooling over the opportunity in American retail. We’ve seen many fast-casual chains and grocery stores make headlines for making their way across the pond, and now retailers are following suit. Here are three retailers we’re betting are bound for disruption. KidZania Self-described as an “experimental learning center” the retailer is “capitalizing on the global trend of educational entertainment, KidZania will establish new ventures in Dallas and Chicago, building on an existing network of locations in 24 major cities worldwide,” according to their press release. “‘At KidZania, we…

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Industry News Research 

Q2 2018 Transactions Report

Another great quarter is in the books. We’re proud to present our second quarter transactions! Look inside to see all the sales and leases we took part in during the past quarter.   Q2 2018 Transactions Q2-2018 Transactions Report Having trouble viewing? Click here ABOUT NAI MARTENS 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 and Topeka. NAI Martens is led by CEO Steve Martens,…

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Industry News 

Will Toys R Us Stores Stay Empty Long?

Shockwaves but not a lot of surprise rippled through the news in March when it was announced that Toys R Us would be closing all of its U.S. stores. Wichita’s Babies R Us store on west Kellogg was in the first round of closures in January this year as the company attempted to climb out of Chapter 11 bankruptcy. The remaining Toys R Us store at 8011 E. Kellogg closed in March along with the rest of the brand’s stores. For some, it was one more sign of retail’s struggles in…

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Industry News Press Release 

Renovations Underway on NAI Martens Leased Building in Delano District

Renovations are underway on the building at 930 W. Douglas in the Delano District. The historic building is being converted to office/retail space. Jeff Englert and Nathan Farha, CCIM of NAI Martens are the leasing agents for the property and have already negotiated leases for two tenants. A full historic renovation will convert the 12,674-square-foot building into a multi-tenant office and retail development. Suites in the property will range from 1,200 to 3,500 square feet in size, with a number of executive offices approximately 215 to 300 square feet. The…

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Industry News Research 

Led by Aerospace, Wichita’s Industrial Market Shows No Signs of Slowing Down

This article appeared in the May issue of Heartland Real Estate Business. You can view the whole issue here: May 2018 – Heartland RE Business The industrial sector remains the prime beneficiary of the  numerous technological shifts occurring throughout the economy. E-commerce continues to fuel demand for distribution and  warehouse  space  in the national industrial sector. The Wichita market remains focused on the aerospace cluster, advanced manufacturing and the growing advanced materials sector to sustain and grow the industrial segment. The current supply pipeline is to remain about the same…

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Industry News Research 

Q1 2018 Market Update – Wichita, KS

NAI Martens presents the Q1 2018 Market Update. Inside you will find market trends and statistics for local commercial real estate during the first quarter! Q1 2018 Market Update   Having trouble viewing? Click here ABOUT NAI MARTENS 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 and Topeka. NAI Martens is led by CEO Steve Martens, CCIM, CPM, SIOR and President Tom Johnson, CRE – two…

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