For the last seven years the former Food for Thought building, near Central and Hillside has sat empty. Now, developers plan to transform it with an entirely new look.
Beau Hudson, a developer at Landmark Commercial Real Estate, and real estate investor is taking on the new project with a $2 million transformation. He said that it is “timely but flexible” and “we’re turning it into Class A medical”.
Hudson’s investment group, Medredev LLC, and him closed on the property in late July.
Hudson talks about how COVID has played a unique role from the standpoint of an investor, and that the market for medical is much more stable compared to retail, office, or restaurant; where those users are hesitant to sign a long-term lease right now.
Location is key, with Wesley Medical Center down the street as well as other medical uses in the surrounding area, and, if the economy changes there will be room for adjustment. Hudson mentions that they always have a Plan B and Plan C, and different directions they can go if need be. This is why the developers plan to renovate the exterior first.
With the help of Haney & Associates on the architect project and the Mahaney Group helping with some of the exterior, “there will be new façade, new dimensionals, new heights, new windows, new doors with a totally different look”, Hudson stated. He also said that the building could either be occupied by one user taking up the whole 15,000 square feet, or up to three 5,000 square-foot tenants.
Landmark’s Craig Simon will be marketing the property, and there has already been some interest for some business.
Hudson said their goal is to get the property finished and a user in there as soon as possible and is aiming to have a spring opening.
Read the full article from the Wichita Business Journal here: https://www.bizjournals.com/wichita/news/2020/09/01/food-for-thought-building-central-medical-develop.html?iana=hpmvp_wich_news_headline