New tenant at 125 N. Market enthusiastic about downtown Wichita’s future

Sensing that downtown Wichita is on the verge of something big, one local small-business owner is jockeying for position.

Wichita technology firm Cornerstone Design and Development is one of two new tenants that have announced a move into the 125 N. Market building downtown, a change that the owner said was driven by young employees’ expectations for working conditions.

“We need to compete for talented individuals who are still in college or have just graduated,” said Joy Eakins, Cornerstone’s owner. “Millennials are attracted to the urban core where they can live downtown and enjoy easy access to work and amenities.

“They also thrive in open work spaces and spaces with lots of natural light. This building is all about the views, and you can see clear to the horizon from anywhere within our suite.”

Cornerstone signed a five-year lease to occupy nearly 1,800 square feet on the building’s 17th floor, according to a news release. The company, started in 2008, won the Wichita Metro Chamber of Commerce’s 2015 Small Business Award for firms with up to 25 employees.

Eakins said the activity happening in downtown Wichita now reminds her of an urban renewal in Denver that she witnessed while living in Colorado in the 1990s into the turn of the century.

“Downtown Denver changed almost overnight,” Eakins said. “We sense that something similar is happening here in Wichita, and I wanted to make sure my business is positioned for that.

“There are more people downtown during the week, more people in Old Town, and I think the Union Station project is really going to add to downtown, too. Things are happening.”

The building’s owners, Utah-based Security National Life Insurance, have been renovating parts of the 19-story 125 N. Market building in hopes of luring new tenants. The target date for Cornerstone – which features four full-time employees and currently operates out of a space at Office Park Plaza, 4601 E. Douglas – to move in is Jan. 1.

The interior of Cornerstone’s new space – designed by Eakins’ husband, architect Eric Eakins of GLMV Architecture – will feature glass walls and skyline views of downtown. Joy Eakins said Cornerstone primarily works with other small businesses in the areas of software development and data services.

Cornerstone was represented by Kristin Stang of J.P. Weigand & Sons in the deal.

Kempton Oil & Gas Land Services, owned by Sharon Kempton, also signed a new lease for space at 125 N. Market. Kempton, who recently moved in, signed a one-year lease for 865 square feet on the 14th floor.

Another small local firm, Kempton works with companies operating in North Dakota’s Bakken oil field to negotiate pad locations, access roads and pipelines on the oil-rich Fort Berthold Indian Reservation. Several oil and gas industry companies are already housed in the building, which Kempton said was important to her.

“With so many oil and gas operators having offices in this building, it was a perfect fit for my company,” Kempton said in a release. “Other tenants understand my business, and that makes for a great opportunity to network about industry issues we all face.”

Another oil and gas tenant that has been in the building for decades, J. Fred Hambright Inc., renewed its lease for three more years, according to the release. The company, which has six employees, is remodeling its space on the 14th floor and expanding its square footage.

Ten energy-related companies now rent space in the building, according to spokeswoman Janis Friesen. Security National Life Insurance Co. is a subsidiary of Security National Financial Corporation.

“We’re seeing a continuing, upward trend in activity within the building,” Bryce Baker, vice president of real estate for Security National, said in the release. “Downtown has been on the cusp of revitalization for the past few years.

“With all the improvements made at our building and the activity in surrounding buildings along Market Street, the downtown core is finally crossing over from plans and dreams to a bold reality.”

This story was originally published November 4, 2015 at 11:32 AM with the headline "New tenant at 125 N. Market enthusiastic about downtown Wichita’s future."