October 5, 2006
For Immediate Release

VANTAGE POINT PROPERTIES ANNOUNCES NEW 140-ACRE
DEVELOPMENT AT KELLOGG AND ANDOVER ROAD

(Wichita, KS) - Vantage Point Properties, a Wichita real estate investment and development firm, has announced plans for a new master-planned development on the southeast corner of Andover Road and Kellogg.

The 140-acre project, called MarketPlace, will incorporate retail development, a YMCA, a new elementary school and new residential development said Paul Jackson, president of Vantage Point Properties.

"Kellogg and Andover Road is a regional hub for people traveling to and from Wichita from neighboring towns such as Rose Hill, Augusta and Eureka," said Jackson. "We want to develop a community gathering place where people can shop, eat and spend quality family time together."

Andover Mayor Ben Lawrence agrees, "We've targeted the Kellogg corridor as a regional shopping district. I anticipate Vantage Point Properties will build a first-class project that will be both aesthetically pleasing and functional."

MarketPlace will be one of the single largest commercial projects in Andover, which Lawrence says is cohesive with the City's intense focus on transforming Andover from a bedroom community.

"We have a lot of young families who want to eat, shop and participate in activities in Andover," said Lawrence. "The City is doing everything we can to help get this project done, including installing a new street named Yorktown Street, and traffic signals at two intersections: Kellogg & Yorktown Street, and Andover Road & Cloud Avenue."

The retail portion of the project will encompass approximately 90 acres. According to Jackson, MarketPlace is designed as a power center concept with lifestyle components. It will include big box anchors alongside specialty retailers, restaurants and traditional service-oriented businesses. "A national grocery store anchor has been secured, and we are working with several other national retailers at the site. The fact that MarketPlace is attracting this kind of attention at this early date speaks volumes about the location and viability of the project," said Jackson.

The YMCA has committed to build an approximately 50,000-square-foot facility at MarketPlace, says Dennis Schoenebeck, YMCA general executive. The YMCA facility will provide youth and family programs including swim lessons, basketball, dance, martial arts, and outdoor sports.

"Building a facility will allow us to expand the programs we currently run in Andover and offer multiple programs to the entire family which will help us better serve the entire region," said Schoenebeck. The YMCA currently offers before and after school childcare and summer camps in Andover.

Jackson believes that the YMCA will be a key element to the overall success of the development. "Given the quality of the Wichita YMCA facilities and the fact that they attract a significant number of people of all ages, we are thrilled they selected MarketPlace," said Jackson.

In addition to the shops, services and entertainment at MarketPlace, a new elementary school will open for the fall 2008 semester.

Mark Evans, superintendent of schools for USD 385 said the need for an elementary school south of Kellogg is crucial. The Andover school district is the second fastest growing school district in Kansas. In fall 2005, voters passed a $40 million school construction bond issue that included the building of three new elementary schools. MarketPlace had all of the elements the school district was looking for in a south-side location.

"This site has two great access points for busing purposes," said Evans. "In addition, the synergy of having a YMCA next to the school makes this a very attractive site. We know that we'll have kids participating in Y activities such as latchkey, sports and swimming and we're tickled to have all of that within walking distance of the school."

Jackson agrees and adds that the easy access of shops and services at MarketPlace will attract parents who can quickly run errands and complete shopping on the way to pick up their kids from school or special activities.

The remaining 30 acres of the project is reserved for a new residential housing addition that will be developed by Goentzel Construction. For more than 30 years, Goentzel Construction has focused on building high-end custom homes. Recently they've expanded their business focus to real estate development including multi-family and patio home communities. The development will be a new concept for Goentzel Construction, said Partner Chris Stevens. "The neighborhood will be most attractive to a mature market. Residents will enjoy beautiful lake lots, walking paths and an activity center."

Jackson said the neighborhood's focus on the mature market helps MarketPlace truly provide something for everyone, regardless of age. "Developing a project with features for the entire community was a priority for us and we are pleased to bring a number of quality organizations together in one convenient location for residents to enjoy."

Grant Tidemann and Brandon Tidemann of J.P. Weigand and Sons, Inc. brokered the initial purchase of land, as well as the grocery store and Goentzel transactions.

About Vantage Point Properties
Vantage Point Properties, headquartered in Wichita, Kan., has been developing, managing and leasing properties for more than 14 years. They have developed over one million square feet of commercial real estate in the Wichita area. Vantage Point Properties focuses on delivering customized, mixed-use projects in premier locations. Among those is Lakeside at the Waterfront, an upscale office complex in which Vantage Point Properties is developing three, multi-story office buildings ranging in size from 29,000 to 40,000-square-feet.

In May 2006, Vantage Point Properties announced the sale of two of the company's properties, Wilson Estates Office Park and Northrock Place, which marked Wichita's largest commercial real estate transaction.