Former Riverside Hospital property has a new broker

09 Mar Former Riverside Hospital property has a new broker

More than nine months after a scheduled auction, the former Riverside Hospital complex is on the market with a new broker, Landmark Commercial Real Estate.

Landmark recently took over the listing — with Craig Simon and Scott Harper leading the effort — and is promoting it as the West River Plaza Development on social media this week.

The property is 13.45 acres within five lots and is listed at $5.8 million. It includes three buildings: a 175,502 square foot, five-floor space at 2622 W. Central and two buildings with more than 10,000 square feet each at 723 N. McLean and 731 N. McLean.

Harper said although it has been a medical-focused property, businesses of multiple types could use it for office space.

“I believe people will be looking at what it could be — not necessarily what it has been,” he said.

In the spring of 2021 — months after Sedgwick County pulled out of a tentative agreement to use the complex as office space — a sealed-bid auction was announced and scheduled to close at the end of June with I Thrive Health as the seller. Current Sedgwick County records list the owner of the 2622 W. Central building as I Thrive, while Silver Kottages, LLC is listed as the owner of the 723 N. McLean and 731 N. McLean buildings.

Ascension Living is the only tenant within the property that is now for sale, and it has plans to move into a new space.

Harper said there is significant potential with the listing — particularly due to its location.

“It’s 13-plus acres on the river at the doorstep of downtown,” Harper said. “You don’t see those types of opportunities that often.”

In a statement last year within the auction announcement, I Thrive Health owner Dr. Greg Lakin struck a similar note.

“We know how important this local landmark has been to Wichita, and now feel that it’s time for new owners to come in and truly maximize its potential,” he said. “This is an exciting time for the city and this downtown corridor, so we recognize that the best future use for the complex may not necessarily be as a medical facility.”

Harper said he and Simon have already fielded some calls about the listing, and he thinks there could be interest beyond the Wichita area.

“The condition of the property is pretty good,” he said. “I think you’re going to get looks from both local and national developers.”

Article by Josh Witt from the Wichita Business Journal.