10 Jun Land deal closes in rapidly-growing North Maize Road area
A piece of land in a fast-growing section of northwest Wichita has a buyer.
LewJene Schneider of Walker, Lane & Reed Investments LLC confirmed she recently sold 1.42 acres in between the Barn’rds and the Dairy Queen at W. 37th St. North and Maize Road to Mountain Pass Investments LLC, which includes Landmark Commercial Real Estate’s Brad Saville and Scott Harper.
“They do everything first class. They are Class A people,” said Schneider of Saville and Harper.
Harper said there are no specific plans for the land to announce now, but the purchase was a fit, as there is less available development space further south.
“As Maize Road continues to be sought after by retailers, restaurants and service providers, and as supply of pad sites south of 29th has become very limited, it made sense to continue to be in position to be able to get deals done as the growth continues north,” Harper said in an email.
The final sale price was undisclosed.
Drew Gannon, NAI Martens commercial real estate advisor, worked with Schneider on the deal in a Wichita metro location that has seen significant growth in recent years.
Five Guys and Noodles & Co. opened across the street from the newly-purchased land just in the last year. A new Dunkin’ — also developed by Mountain Pass Investments — further south but north of the 29th and Maize intersection, is an added example of restaurant development.
Apartments and new single-family homes are also part of the area’s growth story, with hundreds of homes platted to be built north of 37th and Maize.
Schneider is well-familiar with land deals in the area. In the mid-2010s, Walker, Lane & Reed Investments sold the land to Jeff and Jana Pinney that is now the Dairy Queen.
She said she sees momentum continuing and that she has other activity in the area in the works, but nothing further to announce yet.
“That stretch is starting to fill in. And one thing leads to the next,” Schneider said. “We think it is an opportune spot.”
Article by Josh Witt from the Wichita Business Journal.
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