A piece of highly-visible, but currently unused, property in west Wichita is up for sale.
Greenstone Partners, a commercial real estate brokerage firm based in Chicago, said Monday that 7.44 acres of undeveloped land off of the southeast corner of Kellogg and Eisenhower Airport Parkway is now listed at $3.25 million.
Joe Bono, Greenstone Partners investment associate, is representing the seller. City/county records show Wichita-based Dialand LLC as the land owner.
Both leasing or buying are options for those interested in the land, according to Bono.
“The sellers and myself agree that the best use for the site truly is dependent upon the user that is looking to enter this market or region within Wichita,” Bono told the WBJ.
It’s the first time in 25 years that the 324,263 square-foot land parcel has been formally listed for sale, Bono said. He added the “current owners recently gained control of the real estate by negotiating an option to terminate an existing lease agreement” upon receiving a purchase or leasing offer for the land.
Additional details on that existing lease agreement were not disclosed.
Bono said the property — which sits less than two miles north of Dwight D. Eisenhower National Airport and is located across Kellogg from Kohl’s, Ross Dress for Less and Westgate Market Square shopping center, among other businesses — has many potential uses.
“The site is large enough for big- or junior-sized box retail tenants with service-oriented retail tenants positioned as outparcels,” he said. “Alternatively, the frontage facing Kellogg Avenue is prime for single and/or multi-tenant retail users, while the southern portion of the parcel could function more so as warehousing or industrial given the proximity to the airport.”
A news release said multifamily could be another option for the site.
Bono said Greenstone wants to “cast the widest net to developers and tenants and further gauge the market feedback.”