Revitalizing Towne West Square Mall into a Business Hub
Community Support Shapes New Vision
Recent developments indicate that a significant transformation is underway for the former Towne West Square Mall property, now set to be redeveloped into a modern business park by Industrial Realty Group, LLC (IRG) and Provider Real Estate Partners, LLC (PREP). The 650,000 square foot facility occupies 60 acres and represents an exciting opportunity for revitalizing the area.
Exciting Plans for Redevelopment
As the new owners, IRG and PREP aim to convert the former mall site into a multi-tenant campus tailored for diverse modern business needs. The strategic location offers remarkable advantages, significantly close to major transportation routes, which is ideal for facilitating economic growth in the region.
Mayor's Optimism
The Mayor expressed optimism regarding the redevelopment plans, highlighting the city's enthusiasm for this shift in ownership. She emphasized the importance of collaboration between the city and developers to create an environment that fosters business growth and attracts new investments.
Innovative Uses for New Businesses
The vision for this redevelopment includes modern office spaces, light industrial facilities, and areas for advanced manufacturing, research, and development. This dynamic mixture is designed to meet the contemporary demands of businesses and to provide flexible spaces that adapt to changing market conditions.
Community Benefits Expected
The redevelopment is anticipated to extend beyond just the mall’s transformation. A diverse range of tenants will likely generate increased demand for surrounding services, including retail stores and restaurants, which will further enhance community engagement.
Catalyzing Economic Growth
Councilman Dalton Glasscock emphasized the potential of the Wichita Business Park to stimulate future economic success. The development is designed to be a catalyst that not only attracts investments but also promotes job creation in and around the area.
Future Development Timeline
Following the approval of a zoning overlay for the project, construction is expected to start soon. The timeline includes aiming for the first tenants to occupy their spaces by the first quarter of 2026, marking a significant turning point for the local economy.
Contact for Opportunities
Companies interested in learning more about tenant opportunities can reach out to Grant Glasgow, the President at NAI Martens, or Scott Salaome, Senior Vice President for Industrial Services. Their expertise and insight will assist in navigating the available options and benefits offered by the new business park.
About Industrial Realty Group
IRG is recognized nationally for its proficiency in the real estate landscape, specializing in the management and redevelopment of commercial and industrial properties. With a portfolio that spans over 150 properties nationwide, IRG serves as a cornerstone in real estate revitalization, showcasing its commitment to addressing complex property challenges.
About Provider Real Estate Partners
Founded in 2020, PREP focuses on strategic acquisition and development within the healthcare, industrial, and retail sectors. They have initiated a $100 million fund aimed at enhancing the value of properties through calculated redevelopment strategies, displaying a forward-thinking approach to commercial real estate.
Frequently Asked Questions
What is the main goal of the redevelopment of the Towne West Square?
The redevelopment aims to transform the former mall into a modern business park that accommodates various business needs, including office spaces and light industrial facilities.
Who are the key players in this redevelopment project?
The redevelopment is primarily driven by Industrial Realty Group (IRG) and Provider Real Estate Partners (PREP), both of which are leaders in real estate development.
When is construction expected to begin for the new business park?
Construction is anticipated to begin shortly, with initial tenants expected to move in during the first quarter of 2026.
What economic impacts are expected from this redevelopment?
The project is expected to stimulate local economic growth by attracting new businesses, creating jobs, and generating demand for surrounding retail and service industries.
How can businesses inquire about tenancy in the new park?
Potential tenants can contact Grant Glasgow or Scott Salaome at NAI Martens for more information regarding leasing opportunities at the site.
About The Author
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