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Did you know? Industry News Local Development Research 

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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Local Development Research 

A Guide to Medical Space

NAI Martens is excited to present A Guide to Medical Space–a collaborative effort between NAI Martens brokers and Martens Appraisal appraisers to bring you the latest trends in medical office space in the Wichita market area. Take a look inside to learn 2017 vacancy rate and net absorption statistics, a look at what is coming to the market and a section naming a few important trends to be aware of when leasing medical space and how these can affect you. A Guide to Medical Space Trouble viewing? CLICK HERE Call…

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Local Development 

What’s coming in 2018: Business/Development Projects

In an earlier post, we looked at some of the major attractions and events coming to Wichita, Kansas in 2018.  In today’s post, we will look at some of the major commercial real estate development projects which will be completed or will get underway in 2018. West Bank of the Arkansas River In the past couple of years, at least $137.5 million in projects have been announced for the Delano area along the Arkansas River. As larger developments continue to expand closer to the edges of the city, such as…

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Did you know? Local Development 

Whats coming in 2018: Attractions and events

From March Madness to dinosaurs in Derby Wichitans have a lot to look forward to in 2018.  Here’s a look at some of the big events and attractions coming your way in 2018. NCAA Men’s Basketball Championships, First and Second Rounds For the first time, Intrust Bank Arena will be hosting first and second round games of the NCAA Men’s Basketball Championships. Games held in Tulsa brought an estimated $8 to $10 million to the local economy.   Head over to Intrust Bank Arena’s Website for more information. Field Station Dinosaurs, Derby Opening…

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Industry News Local Development 

Wichita City Council green lights speculative industrial building program

Wichita city leaders are bringing back a speculative industrial building program. At Tuesday’s meeting, the City Council voted 6-1 to reimplement a program that was first introduced in 2012. The program, which will be a little different than the one that ended in 2014, utilizes industrial revenue bonds to provide a sales tax exemption on construction materials and property tax abatement for perspective businesses. The property tax abatement would last for up to 10 years. Buildings would receive a 95 percent abatement for the first five years and a 50…

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Local Development 

What’s coming: A look at development on the river

In the past couple of years at least $137.5 million in projects have been announced for the Delano area along the Arkansas River. As larger developments continue to expand closer to the edges of the city, such as the areas surrounding Greenwich Place and New Market Square, the Wichita City Council is looking to revitalize the core. Developments have taken place or been announced for other portions of the downtown market, like The Douglas Luxury Apartments,  College Hill’s new Uptown Landing and plans for the lot across from Intrust Bank…

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Local Development 

Uptown Landing Development Progress

Construction is underway on a new mix-use development at Douglas and Rutan. NAI Martens’ Jeff Englert, Nathan Farha and Ryan Hubbard have been selected as the exclusive leasing agents for the retail portion of this new project in College Hill. Check back to this post or follow us on social media to watch the progress! View the full listing for more information on available commercial space.   http://listings.naimartens.com/uptownlanding February 16, 2018: Framing in Place                         September 13, 2017: GROUNDBREAKING Stay…

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For Lease Local Development 

Former Greyhound Bus Station Redevelopment for lease

NAI Martens is pleased to announce that Troy Farha is representing the leasing of the former Greyhound bus terminal.  Located in downtown Wichita, blocks from Intrust Bank Arena the property is currently undergoing extensive remodeling.  For more information on this property click HERE! This property features 14,426 SF on 2 levels; ground level has 8,510 SF and the second floor has 5,916 SF Zoned:  CBD- Central Business District High ceilings, flexible space Covered Parking Lot Remodel includes new roof and HVAC system Great office, restaurant, or office/showroom space.   Click HERE…

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Local Development 

Union Station: A Booming Development with a Historic Past

With Faneuil announcing that they will bring as many as 500 jobs to Wichita by next year, there is a lot of excitement around Union Station.  Brad Warzeka of 360 Wichita put together this article on the history of Union Station and what the history holds for this Wichita landmark. There’s quite a history behind what’s now known as Union Station located at 701 E. Douglas in Wichita’s historic Old Town. To appreciate the building and the area’s recent growth and development, it’s important to understand its past. It All…

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Local Development 

Construction Picking up on WSU Innovation Campus

One of the most exciting new areas of development in Wichita is the WSU Innovation Campus.  Situated on 120 acres, the Innovation Campus will include partnership buildings, laboratories, a community makerspace and mixed use areas. The Wichita Eagle recently reported on the projects ramping up this summer. Construction at Wichita State University’s Innovation Campus is scheduled to ramp up in coming months, with four major projects beginning this summer and three others due to be completed this year. “This is moving faster than we envisioned when we announced the Innovation Campus…

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