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OFFICE
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MULTIFAMILY
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RETAIL
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FARM &
RANCH
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RESIDENTIAL
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INVESTMENTS
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METHODOLOGY
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INDUSTRIAL
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OFFICERS & ASSOCIATES
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ABOUT WEIGAND
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MARKET
OVERVIEW
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GUEST
SPEAKER

TO OUR VALUED CUSTOMERS

The commercial real estate market in Wichita enjoyed a third straight year of positive growth in 2013.  Driven by renewed confidence and pent-up demand, the market is experiencing good leasing and sales activity in all property types throughout the city.  The strong recovery hasn’t reached pre-recession levels but reflects significant improvement since the low point experienced in 2009.  Vacancy rates are particularly low in the traditionally attractive areas such as 21st and Rock Road, 21st and Maize Road, the northeast and southwest industrial parks as well as the suburban office markets.  New growth areas such as the Central Business District and 21st and Greenwich continued to attract new residents and businesses.

The forces driving the improving commercial real estate market were also evident in the residential sector where year over year sales increased by close to 10%.  Residential sales activity remains near pre-recession levels and the declining inventory of existing homes is generating an increase in new home construction.

The positive growth in the real estate markets is happening despite a continued slow recovery in jobs throughout the area.  This issue is being aggressively addressed by the Greater Wichita Area Chamber of Commerce’s “Business at Full Throttle” campaign.  The coalition of more than 100 businesses and organizations had a very successful first year and confidence remains high that the initiatives being implemented will soon stimulate job growth.

With all of the positive activity, J.P. Weigand & Sons is pleased to share with you our “Forecast 2014.”  The detailed research included in the publication reflects our commitment to provide information on the Wichita area real estate market that is vital to your decision making process.  We hope you find it interesting and useful.

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