SEPTEMBER 13, 2012

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CCIM and WDDC Partner to Research Downtown Ground Leases

 

Wichita, KS - September 13 - The The KS Chapter of the Certified Commercial Investment Member Institute (CCIM) and the Wichita Downtown Development Corporation (WDDC) have each committed $2,500 in funding to investigate Downtown properties with multiple land and land-lease holdings. The initial phase of this project will develop a master list of properties in Downtown Wichita that currently have ground leases and also the basic information about the corresponding lease holdings. Security 1st Title has also partnered in the initiative and will be conducting their research at a cost-basis.

  

According to Brad Saville, President of the KS CCIM Chapter, this resource will be made available to brokers, developers and investors who are looking at properties in Downtown. "By having this information initially for clients, it will assist in reducing the amount of research that may be required on some Downtown properties," stated Saville. "This inventoried information will help in expediting future deals. It really does benefit all of us in the commercial real estate business."

  

"This is another valuable partnership in the development of Downtown," stated Jeff Fluhr, president of the WDDC. "The ground lease information will assist efforts in continuing the development of Downtown and fulfill an action item identified in Visioneering Wichita."

  

The project will focus on the core properties of Downtown, starting at Douglas and Broadway. "The highest concentration of ground leases tends to be with the properties that date back to the origination of Downtown Wichita - we will focus our efforts initially in this area," stated Fluhr. "We're so appreciative for the partnership opportunity with CCIM and Security 1st Title on this project. This information will serve as another great tool that we can use to market Downtown Wichita."

  

With approximately 130 members, the KS Chapter of CCIM's mission is to serve as the voice for commercial real estate in our region and to support their membership through the use of technology, networking and educational opportunities in order to better serve their clients, community and colleagues. 
 
For more information on the Kansas Chapter of CCIM visit http://chapters.ccim.com/kansas

 

For more information regarding the Wichita Downtown Development Corporation, Project Downtown or current development initiatives visit www.downtownwichita.org



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