In The News

May 15, 2006
For Immediate Release

LAKESIDE AT THE WATERFRONT ANNOUNCES NEW TENANT

(Wichita, KS) - Stelbar Oil Corporation, Inc., a Wichita-based oil and gas exploration and production company has announced plans to move to Lakeside at the Waterfront. The company will occupy 4,600-square-feet on the second floor of the Stinson Morrison Hecker Building located at 1679 North Waterfront Parkway. The announcement was made by Paul Jackson, president of Vantage Point Properties and developer of Lakeside at the Waterfront, and John Shawver, owner of Stelbar. Shawver indicated the company will relocate to their new offices in January 2007.

A family-owned business, Stelbar was founded in 1928 by Shawver's grandfather. Shawver is the third generation of the family to lead the company. Currently located at 155 North Market, the new location means increased convenience for Stelbar's employees. "The new offices will be a quick commute for all of us," Shawver said. "Along with that, I view Waterfront as the premier office space in Wichita and a great environment for our company."

Ground was broken on the three-story building in March with completion expected by year end. In addition to Stelbar, other occupants will include the law firm of Stinson Morrison Hecker LLP, and Northrock, Inc., the lodging and investment company owned by Wichita entrepreneur and philanthropist, Barry Downing. The 41,160-square-foot structure will be the largest building at Lakeside at the Waterfront. With a stone exterior and situated directly on the water, the building will include balconies and terraced patios overlooking
Waterfront Lake and a garden courtyard entrance with lush plantings and sculpture accents. The most unique feature of the office will be the inclusion of an 8,000-gallon saltwater aquarium in the building's lobby. The aquarium will measure 22 feet long by 9 feet high by 6 feet wide and will include dozens of unique varieties of saltwater fish.

Lease negotiations for Stelbar were handled by Paul Jackson and John Shawver. Spangenberg Phillips is project architect and Dondlinger & Sons Construction is the general contractor for the new building.

Plans were originally announced for the 16-acre Lakeside at the Waterfront in January 2005. Vantage Point Properties owns eight acres of the development. Box Development, L.L.C. owns four acres and Delta Dental Plan of Kansas owns the remaining four acres where they are building their new corporate headquarters. Vantage Point Properties is developing three multi-story office buildings ranging in size from 28,000 to 41,000-square-feet. All of the offices will feature modified prairie-style architecture using clean, horizontal
lines and wide windows to take full advantage of the lakeside view. Extensive landscaping and pedestrian walkways with outdoor seating will accent the upscale office environment. When complete, the entire Lakeside at the Waterfront complex will include up to six buildings and 167,500-square-feet making it one of the city's largest office developments.

In addition to Lakeside at the Waterfront, Vantage Point Properties also manages the T-Mobile Call Center at 2525 North Woodlawn and will soon announce plans for a new 60-acre commercial project in the Andover area. The company recently announced the sale of two of its developments, Wilson Estates Office Park and Northrock Place. For information on Vantage Point Properties visit www.vantagepointproperties.com.