In The News
April 20, 2005
FOR IMMEDIATE RELEASE
LAHAM DEVELOPMENT LANDS NEW RETAIL CONCEPT
Regency Lakes Shopping Center Grows
With Addition of City's First World Market Store
(Wichita, KS) – Laham Development has announced plans to bring another
new retailer to Wichita. Construction began this week at the company's
60-acre Regency Lakes Shopping Center, 21st & Greenwich, where
the city's first World Market® (Nasdaq: CPWM) store will be located.
The new 18,300-square-foot World Market will feature casual home
furnishings, housewares, garden, decorative accessories, gourmet
food and wine. The store will be located just north of Super Target.
Ground breaking for the retailer marks the launch of phase two construction
for the growing Regency Lakes center.
With 237 stores in 30 states, World Market is owned by Cost Plus,
Inc., which also operates stores under the name Cost Plus. With
40-plus years in the import business, the company describes their
concept as a "value retailing resource." They supply their stores
through an international network of individual and regional artisans
from more than 50 countries. World Market's first Kansas location
opened in Lawrence in June 2004.
Cost Plus was launched in 1958 when a San Francisco businessman
parlayed his passion for travel into an import business by selling
a shipload of handwoven wicker from a local pier. Today, Cost Plus
World Market at Fisherman's Wharf in San Francisco is a favorite
destination for tourists and locals. Cathy Erickson, vice president
of Laham Development anticipates the same enthusiasm for the new
Wichita store. "This will be World Market's first entry into the
Wichita market and just their second store in Kansas," said Erickson.
"Because of its unique appeal and K-96 location, we expect World
Market will become a popular regional destination just like its
co-anchor, Super Target."
Regency Lakes Embarks On Center's Phase Two
When complete, Regency Lakes will be the largest shopping center
in Northeast Wichita. It will feature up to 500,000-square-feet
of retail and restaurant space built around a contemporary architectural
theme accented by natural stone, translucent blue glass, champagne-colored
bronze, metal fins and awnings.
The center's phase one included the opening of the 174,000-square-foot
Super Target in October 2004. Phase two will encompass the construction
of World Market and four to six retail stores located between Super
Target and K-96, plus 15 acres of landscaped greenspace and driveways
throughout the center. Upon completion, Regency Lakes will offer
a total of 12 - 16 restaurants and stores, eight to ten of which
will be located on outparcels throughout the center.
Erickson commented that Regency Lakes is off to a fast start. "We
have been very pleased with the response to Super Target," she said.
"Northeast Wichita's rapid residential growth coupled with K-96
visibility and the emergence of Greenwich as the next retail corridor
have boosted traffic and awareness for the center. There are still
lots of retailers who want to locate in east Wichita, and with Rock
Road fully developed, Greenwich has become the city's next preferred
site for national, regional and local retail and restaurants," according
to Erickson.
Included in the residential expansion is Fairmont, a 100-acre Ritchie
development at 127th Street East and 21st Street, 1 mile east of
the Regency Lakes site; and Hawthorne, a 160-acre development recently
announced, also at the northeast corner of 127th Street East and
21st Street. An additional Ritchie development is in the planning
stages at the southeast corner of that location. Several large churches
have also located in the area including Messiah Baptist Church and
Church of the Magdalen, both on 21st Street near the 127th Street
East intersection.
Laham Development's other projects include Plazzio and Bradley
Fair. Plazzio retail and entertainment center at 13th & Greenwich
Road features 347,000-square-feet including 15 stores, restaurants,
hotel and entertainment concepts anchored by the Warren Theater
and The Alley Entertainment Center. The Warren recently announced
a $10 million expansion adding eight new screens to its existing
12. The 60,000-square-foot Alley opened in the fall of 2004 includes
42 lanes of bowling, an indoor go cart track, sports bar, billiards
room for teens and corporate meeting rooms. Bradley Fair lifestyle
shopping center consists of 255,000-square-feet with 52 stores and
restaurants. The center has become known for its scenic open air
Plaza hosting concerts, opera performances, fireworks and other
special events throughout the year.
Project architect for Regency Lakes is Shelden Architecture. Professional
Engineering Consultants is project engineer and Key Construction
is general contractor. INTRUST Bank provides financing and J. P.
Weigand & Sons is the exclusive broker. All are Wichita companies.
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