Wichita KS Realty News

Local Retail Market Still Evolving

derby ks local retail shops

WICHITA, KS:  (wichitaksrealty.news)

Wichita and Derby’s local retail real estate market evolving

With more people shopping online today than ever before, investing in the retail real estate industry can be an iffy undertaking. Most brick and mortar retail locations have taken a hit as Amazon and other juggernaut online stores expand their hold on consumerism, but what does that mean specifically for the Wichita and Derby region? Experts report that retail real estate is not bad, though it’s changing, said Patrick Ahern, a commercial real estate adviser with NAI Martens.

“Retail is pretty healthy here,” Ahern said. “That said, I do think retailers have to ask themselves what their business model will be in five years.

“How much will be online and how much will be brick-and-mortar?”

Studies disagree, showing that retail space vacancies have been increasing in the area, despite the sustained growth rate in the retail real estate market. David Leyh, a broker with Landmark Commercial Real Estate who specializes in retail, said part of the reason vacancies persist is because fewer people are bold enough to go into business for themselves after the recession.

“Overall, retail is doing well,” Leyh said. “There’s a lot of growth in northeast and northwest Wichita, and a lot of it is national tenant- and regional tenant-based growth. They’re stronger than the local operators.”

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Richard Wood

Richard Wood, our Editor and contributing Author shares his insights of the national economic data and helps identify trends in the economy and specifically how they effect the local real estate markets in and around Wichita Kansas.
With a top down approach, his focus starts with the Federal Reserve policy makers and their direction on interest rates. Employment, housing starts, and refinancing of current mortgages all come into play when trying to understand how they fit together. Even generational housing trends are important and will be discussed.
Richard brings more than 30 years of knowledge of these markets and will assist the reader in better understanding how they come in to play.