Carrie Rengers

Denver Mattress, AT&T to be first tenants at new Regency Lakes retail center

Developer David Shannon and two partners are building a retail center at Regency Lakes at 21st and Greenwich. After this center is completed, there’s only one lot left to develop at Regency Lakes. Shannon and his father, Ken, and Scott Ritchie III are developing that lot as well. (April 6, 2015)
Developer David Shannon and two partners are building a retail center at Regency Lakes at 21st and Greenwich. After this center is completed, there’s only one lot left to develop at Regency Lakes. Shannon and his father, Ken, and Scott Ritchie III are developing that lot as well. (April 6, 2015) The Wichita Eagle

And then there was one.

Lot left, that is, at Regency Lakes.

Dirt work has started on a new 14,000-square-foot retail center at the 11-year-old development at the northwest corner of 21st and Greenwich, which is anchored by SuperTarget, Cabela’s and Hobby Lobby.

The new center, which will be in front of Cabela’s and just north of Chili’s, will be ready this fall.

“Once this building is complete, we’ll only have one more lot that is left to be developed at Regency Lakes, so it is nearing completion,” says Amy Liebau, a spokeswoman for Laham Development, the Regency Lakes developer.

“It just continues to show that the Greenwich corridor is going to be the next retail corridor,” she says. “We’re continuing to see that those predictions are coming true.”

That’s what’s spurring developer David Shannon, in partnership with his father, Ken, and Scott Ritchie III, to build the center now.

“We bought the land a number of years back … as an investment,” says Shannon, who has a background in manufacturing.

“Momentum in the area has just made it a pretty easy decision to go ahead and develop a retail center,” he says. “The whole area is just exploding.”

Academy Sports & Outdoors is opening across the street this month. The Village at Greenwich, which is at the northeast corner of the intersection, continues to grow with new retail centers. An extended-stay hotel, Home2 Suites by Hilton, is going to open at the Cross Pointe development on southeast corner.

There’s also a new interchange for K-96, and a new traffic light is going in at the drive between Chili’s and a lot to the north of Subway.

“We’re excited to see the interchange work complete,” Shannon says.

The Goodsports field house and hotel will be built along Greenwich just north of K-96.

Shannon, who says he likes the frontage his center will have along Greenwich, says half of it is already leased.

Denver Mattress is opening its second Wichita store there in 4,500 square feet.

AT&T will sell its wireless service and products in 2,500 square feet. This will make the chain’s ninth Wichita store.

That leaves 7,000 square feet left to be developed within the new center. Shannon says he’d love to have one tenant take the entire space, but it likely will be more than one.

“It’s whatever the market requires,” Liebau says.

Christi Royse, a broker with J.P. Weigand & Sons, handled the deal.

SPT Architecture is the architect. Key Construction is the contractor.

“We also own the lot immediately to the north of Subway,” Shannon says. “We’re exploring lots of options … for how we develop it.”

It’s a smaller lot than where he’s building the retail center. Shannon says there’s room for a stand-alone restaurant or a small store.

“We’re getting interest,” he says.

Regency Lakes is a 400,000-square-foot development where Hampton Inn, World Market, Kanza Bank and McDonald’s also are. There’s another retail center in front of Cabela’s where Blue River Mexican Grill recently opened.

Liebau says the new retail center will fit well at Regency Lakes.

“It will only increase traffic.”

Reach Carrie Rengers at 316-268-6340 or crengers@wichitaeagle.com. Follow her on Twitter: @CarrieRengers.

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