Murfin said to be buyer of Beech Lake property

WICHITA — Hawker Beechcraft is selling two-thirds of its property known as Beech Lake on the southeast corner of 13th and Webb.

The company informed employees today of the sale in a letter signed by human resources vice president Rich Jiwanlal.

"As we have communicated, we are enduring some of the most challenging business conditions in our industry's history," Jiwanlal said in the letter. "This requires us to assess our footprint and match it to our revenue and work force size."

The anticipated closing of the property's sale will be around the end of June.

Hawker Beechcraft did not disclose a buyer, but multiple sources told The Eagle that it's oilman Dave Murfin of Murfin Inc.

No one with the company returned calls for comment.

Sources said Murfin is likely to use the property for a new headquarters — his office currently is downtown — and there might be a new office development built there as well.

Hawker Beechcraft did not disclose a sale price, and a spokeswoman declined to comment further.

Stan Longhofer, director of Wichita State's Center for Real Estate, said the property is part of "the premier office development in the entire city," given its proximity to the Waterfront development.

The Waterfront is at the northeast corner of the intersection and also once was part of Beech Lake. Its key tenants include Commerce Bank and the Foulston Siefkin law firm. There also is a collection of restaurants and retail shops there along with numerous offices and the Homewood Suites by Hilton hotel.

"It's an attractive intersection — convenient, not too far off K-96, and it's got the amenities of the Waterfront and prestigious office users," Longhofer said of the Beech Lake property.

Murfin at one time had planned a new headquarters at the Waterfront and still owns ground there.

Hawker Beechcraft employees no longer will have access to Beech Lake, although Hawker Beechcraft will retain "a valuable piece of the property along the south side of the park for our continued use," Jiwanlal said in the letter.

The sale will affect the gun club area as well as a radio-controlled aircraft field and a picnic and shelter area. The company said it plans to relocate the latter two areas.

When the Waterfront development began in 2002, then-owner Raytheon announced it would keep the majority of the lake site — much of what is included in Friday's announced deal — for the Raytheon Aircraft Employees Club.

Longhofer said he doesn't expect to see the Beech Lake land developed anytime soon.

"It will all be based on tenants," he said. "Nothing is going to get done out there on spec."

This story was originally published May 21, 2010 at 12:00 AM with the headline "Murfin said to be buyer of Beech Lake property."