Industrial Realty JV to Redevelop Kansas Mall Into Business Park
The $35 million project calls for a mix of offices, research and development space, light industrial use and advanced manufacturing facilities.
Industrial Realty Group LLC and Provider Real Estate Partners LLC have acquired the shuttered Towne West Square mall in Wichita, Kan., with plans to redevelop the property into a multi-tenant business park. The retail center currently spans 650,000 square feet on 60 acres.
The new owners plan to convert the property into Wichita Business Park, an economic hub that will benefit from its location in the southern part of the town. Stores within the Towne West Square mall were mandated to vacate the property by July 5. Anchor tenants Dillard’s Clearance Center, JCPenney and Boulevard Theater were the only exceptions.
Back in May, the Wichita Metropolitan Area Planning Commission approved the rezoning request for the project. The $35 million redevelopment plan calls for a mix of office, research and development, light industrial, advanced manufacturing and flex space.
To ease the community concerns, the developers announced that the project will have a 24-hour security team, as well as a team responsible for keeping the area clean inside and outside to avoid trash buildup. The project will also help create job opportunities for the area, through its completion and in the long term, thanks to a diverse tenant roster.
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On-site renovations have already begun with exterior painting to improve the aesthetics of the aging building. Construction on the conversion project will begin this summer.
The joint venture partners expect Wichita Business Park to welcome its first tenants at the beginning of 2026. Located at 4600 W Kellogg Dr., the future business park is within 3 miles of the Wichita Dwight D. Eisenhower National Airport, off Interstate 235.
Midwest industrial projects continue to rise
This is not the first redevelopment project that IRG has underway. Late last year, the company purchased a 965,134-square-foot industrial portfolio in the Minneapolis-St. Paul market. The acquisition includes eight buildings that IRG is redeveloping. The company is looking to lease the portfolio to a mix of distribution, manufacturing and warehousing tenants.
In Kentucky, CRG and STAG recently broke ground on Park Loop @ I-65, an industrial development spanning more than 500,000 square feet. The project is adjacent to Prologis’ Cedar Grove Business Park, a 12.5 million-square-foot industrial campus. Expected to benefit from the area’s strong industrial demand, Park Loop is on track to open in early 2026.
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