WICHITA — In today’s economy, it’s a gamble to build a speculative shopping center and hope to find tenants for it, but it’s a move that’s paying off for Paul Jackson.
The Vantage Point Properties developer has Andover MarketPlace, a 140-acre development on the southeast corner of Kellogg and Andover Road in Andover.
In May, Jackson began building the Shops at MarketPlace, a 14,000-square-foot center next to Dillons Marketplace.
He now has four tenants to announce:
– Scooter’s Coffeehouse, which will have 1,400 square feet and a drive-through on the north end of the center.
– H&R Block, which will have 1,400 square feet.
– Martinizing Dry Cleaning, which will have 1,400 square feet.
– Spa Pedicure, which will have 1,200 square feet.
“We have a nice amount of interest in the remaining space,” Jackson says. “We feel like it’s been a good decision to build that.”
When Jackson first bought the property several years ago, his plan was to hold it for the long term.
“We weren’t looking to develop it immediately.”
Dillons wanted to expand with a Marketplace concept, though, and the YMCA decided to build a new branch about the same time.
“They just came into play a lot earlier than we expected them,” Jackson says. “Once those started, we started full speed into the development process.”
The spaces at the new center will be ready by Nov. 1, though H&R Block won’t open until January.
H&R Block is relocating from the center where Dillons used to be.
“All the traffic basically left our center,” says Elizabeth Lindquist, the company’s in-house real estate representative.
Scooter’s used to be in Andover under different ownership.
Valerie and Andy Koenigs saw an opportunity with the Shops at MarketPlace.
“It’s just something that we’ve always wanted to do,” Valerie Koenigs says of opening a coffee shop. “It’s like on our bucket list.”
Brando Dao and his wife, Kimberly Truong, like the area for their Spa Pedicure, which will offer a range of nail services.
The Andover Martinizing Dry Cleaning will be Nancy and Mark Staal’s third site. They have one at Siena Plaza at 37th and Rock and one at Auburn Pointe at 135th West and Maple.
“We’ve always had our eye on Andover because that’s where we live,” Nancy Staal says.
She likes that they’ll be near Dillons.
“It seems to us to be a great location for everyone.”
Landmark’s Brad Saville says he’s close to two other leases for the center.
“It’s great for Andover,” he says.
Jackson says the idea is to offer a lot of different reasons for a shopper to visit Andover MarketPlace.
“I feel like that corner, the more we put there, the better it gets,” he says. “We’re starting to get a momentum that makes it a very strong corner, a very tough corner to compete with anywhere in Andover.”Previous: Tommy's for sale Next: Monahan Chiropractic to open in December