Retail activity continues to be strong in Wichita, Kansas. Local developers are responding to national and regional retailers who wish to expand their presence in the area. A major influence on the Wichita retail market was Laham Development’s Bradley Fair, a 255,000-square-foot lifestyle center that was launched in 1990 and attracted the city’s first national retailers, including Banana Republic, Gap, Bed Bath & Beyond, Talbots and Eddie Bauer. “Their presence in the Wichita market gained the attention of other national brands, that are focusing their attention on the Rock Road corridor in the city’s northeast quadrant,” says Doug Malone, a commercial real estate associate with Wichita-based J.P. Weigand & Sons.

Doug Malone, Commercial Real Estate Associate, J.P. Weigand & Sons

The Rock Road corridor, which includes the 21st & Rock Road area, was once the central core of the retail and restaurant trade and is now expanding to the east. This expansion includes The Waterfront, a 166-acre mixed-use development that was launched in May by Clark Investment Group; Laham Development’s Regency Lakes, a 500,000-square-foot shopping center scheduled to break ground in late 2003; and The Plazzio, a 347,000-square-foot retail and entertainment complex anchored by an 88,000-square-foot Warren Theater and a 60,000-square-foot JOMA bowling center — also being developed by Laham Development. All three developments are within 3 miles east of the Rock Road corridor. Also in the northeast area, Developer Gary Oborny is planning to redevelop the former Northrock 6 theatre complex into 73,000 square feet of multi-tenant retail space. “Currently, this complex is the only large vacancy on the popular Rock Road corridor,” Malone says.

On the city’s northwest side, NewMarket Square, the 433,000-square-foot open-air center continues to be a popular location for national and local tenants. Developed by Slawson Companies, the first phase opened in July 2001 and is anchored by a Wal-Mart Super Center, Bed Bath and Beyond, Borders Books Books & Music, Old Navy and Gart Sports. Phase I is 98 percent leased and features a recently completed central plaza. Three outparcels are yet to be developed. Planning is underway for a 425,000-square-foot second phase featuring a large anchor, several big boxes, smaller in-line shops and restaurants. Store openings are planned for fall 2004 and spring 2005.

Closer to downtown, Marketplace Properties’ opened Old Town Square — a 7.5-acre, $26 million mixed-use development with retail, restaurant/entertainment and office space — and has extended the 30-acre reach of this historic district. The new Old Town Square is anchored by the Warren Old Town Theatre, which offers food and beverage service in all five auditoriums, a sports bar with a 35-foot television screen, and an adjacent three-story, 500-space parking garage.

According to the J.P. Weigand annual forecast, the vacancy rate for retail space in the metropolitan area is 10 percent. Vacancy rates in new, Class A space are at 6.8 percent citywide and less than 3 percent in the north Rock Road corridor.

“The northeast sector of the city will continue to be the most popular destination for retailers and their customers in the foreseeable future,” Malone says. “Retailers are attracted to this area because of the high-income, high-density demographics, the growing population base, previous successes of other retailers and the proximity to the K96 Highway. NewMarket Square could create a secondary focus for future development on the west side. Ongoing development of the Old Town area will also continue to create interest.”

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