In The News

February 2, 2006
For Immediate Release

SALE PENDING OF WICHITA OFFICE PROPERTIES

(Wichita, KS) - Vantage Point Properties, a Wichita commercial real estate investment and development firm, has announced the pending sale of two of the company's properties, Wilson Estates Office Park and Northrock Place. The announcement was made by Paul Jackson, president of Vantage Point Properties.

According to Jackson, the properties are under contract with DBSI Discovery™, a nationwide buyer of investment grade commercial properties based in Boise, Idaho. Jackson stated that his firm will continue to operate and service Wilson Estates Office Park and Northrock Place tenants until the sale is final which is expected to be sometime in March.

One of the city's most sought-after business addresses, the 25-acre Wilson Estates Office Park is located on 21st Street just east of Bradley Fair Parkway. The development consists of 216,000-square-feet in five buildings including the Capitol Federal Building, Hinkle Elkouri Building, Morgan Stanley Building, SNB Bank of Wichita Building and Preferred Health Systems Building. Ground was broken for the project in 1997. Currently Wilson Estates Office Park is home to more than 30 businesses and is 96% leased.

Located at 8110 East 32nd Street North, the two-story Northrock Place was built in 1995 and includes 48,000-square-feet with occupancy at 100%. Tenants include the Allergy & Asthma Center, Corporate Lodging Consultants, Hewlett Packard and Classic Real Estate.

In addition to Wilson Estates Office Park and Northrock Place, Vantage Point Properties announced plans in January 2005 for Lakeside at the Waterfront. Located at 13th & Webb Road, the development will consist of 90,000-square-feet in three multi-story office buildings ranging in size from 20,000 to 40,000-square-feet. The development will feature modified prairie-style architecture using clean, horizontal lines and wide windows to take full advantage of the lakeside view. Materials will reflect those used throughout the Waterfront including natural and cut stone, dark red brick and brick detailing. Extensive landscaping and pedestrian walkways with outdoor seating will accent the upscale office environment. Jackson indicated ground will be broken for Lakeside at the Waterfront's first building within the next month.

Jackson added that his company will soon announce plans for a new 60-acre commercial project to be located in the Andover area. "Even with this sale, for us it's business as usual and we have plenty on our plate to keep us busy," he said.

Further information on Vantage Point Properties can be found at www.vantagepointproperties.com. For information on DBSI Discovery™ visit www.ddrs.net.