2023 Deal of the Year: 4055 N. Toben (J.P. Weigand & Sons Inc.)

Bradley Tidemann found a tenant not long after the construction of a second industrial warehouse in Webb Industrial Park was completed.

Pella Windows & Doors of Wichita leased approximately 56,000 square foot -- around half of the building -- to house its regional office, distribution warehouse and showroom.

After completing the buildout, Pella moved into its new space in summer 2022.

Tidemann, of J.P. Weigand & Sons who handled the lease on the space and represented both the tenant, as well as Webb Industrial LLC, said, "It was new construction. Obviously, it had 30-foot ceilings." "Pella liked the location because it's northeast Wichita and has easy access to K96. Bel Aire had been growing in residential areas at the time, and they wanted to be near that area of Wichita.

The Wichita Business Journal 2023 Real Estate Awards named the lease, worth approximately $3.5 million, as the Deal of the year.

When Pella, boosted by the pandemic's positive impact on the construction industry, looked at 4055 N. Toben for the first time, it was just a shell.

In a WBJ article last year, Jim Knight, President of Pella Kansas, stated that there wasn't much inventory in the area for existing facilities. In many older warehouses, the ceiling height is not high enough to double or triple stack. This means that the space is wasted.

Tidemann stated that this illustrates the necessity for spec warehouses to be built in Wichita. This means developers will take on the risk of building the product even before a lease has been arranged.

Tidemann stated that "having buildings available to occupants" is key to Wichita's success in the industrial sector. The city of Wichita's spec warehouse program has encouraged developers to construct spec buildings, as it takes a lot of time to build to suit.

Tidemann stated that a letter-of-intent has been signed for the remainder of 4055 N. Toben and that he anticipates having it leased in the next 30 to 45 days.