Security National announces more changes to former Wichita Executive Centre

11/01/2013 10:07 AM

11/01/2013 10:07 AM

The Salt Lake City owner of a downtown Wichita high-rise announced on Friday several changes affecting its 19-story building on North Market.

Security National Life Insurance Co. said the building known most recently as Wichita Executive Centre will now be known as its street address, 125 N. Market.

It also announced that Patrick Ahern of NAI Martens is the building’s new leasing agent, and Weigand-Omega Management will be the property manager.

Ahern replaces Tony Utter as the building’s leasing agent. Weigand-Omega replaces Delton Sandefer, owner of Essential Property Management.

Bryce Baker, Security National’s vice president for real estate, said in a news release Friday that NAI Martens “has regional, national and global connections and success in bringing national tenants to Wichita.”

And while Security National “has been very fortunate to have Delton Sandefer as building manager … Weigand-Omega Management’s long-standing reputation for excellence in property management as well as their experience in large-scale improvement projects, were crucial factors in making the property management switch,” the company said in the release.

Sandefer said the change to Weigand-Omega “is just business.”

“I basically decided to let that go, and I wish them all the best,” Sandefer said. “I want to help them on my side as much as I can through the transition.”

Security National said in the release that it plans to invest up to $5 million in the building, including updating and redecorating the common areas on four floors, upgrading infrastructure, modernizing elevator controls, renovating the top floor as a reception and event space, and repairing the skywalk that leads to the Exchange Place building across the street.

The start of those improvements should begin in the next few weeks, when work on the common areas begins as well as the replacement of a 19th-floor chiller, Security National said in the release.

Security National took over the building earlier this year from Minnesota developers Michael Elzufon and Dave Lundberg of Real Development. It was the building’s primary creditor on a $5.6 million bridge loan it made to Real Development in 2011.

The company said the 300,000-square-foot building is 40 percent occupied, and it has space ranging from 1,000 to 16,000 square feet available for lease.

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