WICHITA — In today's economy, it's a gamble to build a speculative shopping center and hope to find tenants for it, but it's a move that's paying off for Paul Jackson.
The Vantage Point Properties developer has Andover MarketPlace, a 140-acre development on the southeast corner of Kellogg and Andover Road in Andover.
In May, Jackson began building the Shops at MarketPlace, a 14,000-square-foot center next to Dillons Marketplace.
He now has four tenants to announce:
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– Scooter's Coffeehouse, which will have 1,400 square feet and a drive-through on the north end of the center.
– H&R Block, which will have 1,400 square feet.
– Martinizing Dry Cleaning, which will have 1,400 square feet.
– Spa Pedicure, which will have 1,200 square feet.
"We have a nice amount of interest in the remaining space," Jackson says. "We feel like it's been a good decision to build that."
When Jackson first bought the property several years ago, his plan was to hold it for the long term.
"We weren't looking to develop it immediately."
Dillons wanted to expand with a Marketplace concept, though, and the YMCA decided to build a new branch about the same time.
"They just came into play a lot earlier than we expected them," Jackson says. "Once those started, we started full speed into the development process."