The commercial real estate market in Wichita and South Central Kansas has shown remarkable resilience and growth in recent years. Following the challenges of the pandemic, the region has not only recovered but is now thriving.

Wichita’s central location and business-friendly environment have long attracted investments in retail, office, industrial and mixed-use developments. Prior to the pandemic, low vacancy rates and steady rent growth indicated a strong and promising market.

While retail and office spaces experienced temporary setbacks due to shifting work and consumer habits, the industrial sector remained active, fueled by e-commerce demand. The region’s lower costs and pro-business climate helped it weather economic fluctuations better than many larger metro areas.

Since 2021, Wichita’s commercial real estate market has experienced an impressive resurgence. The industrial sector is booming, driven by manufacturing, logistics and distribution expansion. Retail has adapted to evolving consumer preferences, with experiential and mixed-use developments gaining popularity. Office spaces are being reimagined to accommodate hybrid work models, offering flexible solutions that meet modern business needs.

Wichita’s population has steadily grown over the past decade, reflecting the city’s increasing economic opportunities and high quality of life. Currently home to nearly 400,000 residents, Wichita is the largest city in Kansas and serves as a central hub for South Central Kansas. Wichita also serves the region of more than 660,000 residents.

The metropolitan area has also experienced consistent growth, drawing new residents from across the country due to its affordability, job market and welcoming business climate. This population increase supports a strong labor force and fuels demand for commercial developments across all sectors.

The city’s economy — bolstered by aviation, healthcare, manufacturing and agriculture — provides stability that continues to attract long-term investment. Industrial real estate remains a standout, with high demand for warehouse and distribution space drawing businesses to Wichita’s central location, skilled workforce and affordable real estate.

Retail growth

Retail is undergoing a transformation, with a focus on experiential and service-based businesses revitalizing shopping centers and commercial districts. Office space demand is shifting toward more flexible, adaptive environments that align with workforce trends.

This dynamic growth is evident in developments such as District 96 in northeast Wichita, an emerging hub for both retail and industrial tenants. Its expanding infrastructure and business-friendly atmosphere are attracting a diverse range of businesses, creating jobs and driving economic momentum.

The Waterfront development is another success story, excelling in the Class A retail and office sectors. With its modern amenities and growing list of local and national tenants, it has become a prime destination for businesses seeking a vibrant environment. The area’s ongoing growth continues to enhance Wichita’s reputation as a key commercial hub.

New Market Square, a premier shopping destination in northwest Wichita, has a long-standing record of success. Spanning 840,000 square feet and home to over 90 stores, including major retailers, it remains a strong economic driver.

The development of New Market North, a 120,000-square-foot mixed-use expansion anchored by Super Target, further enhances the area with new office, retail, hotel and residential opportunities, reinforcing its status as a comprehensive shopping and business hub.

The Wichita market continues to demonstrate stability and success for both developers and tenants. Its economic advantages and diverse demographics make it an ideal testing ground for new business concepts. The city’s unique mix of urban and suburban settings provides a valuable opportunity for businesses to refine their models before expanding nationally.

With a strong economy, increasing investment and a community committed to growth and innovation, Wichita and South Central Kansas are well-positioned for long-term success. Whether you’re an investor, developer or business owner, now is the perfect time to consider Wichita for your next expansion.

Joshua Turner is president of Landmark Commercial Real Estate. This article originally appeared in the May 2025 issue of Heartland Real Estate Business magazine.