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Phil Frigon, owner of Cantilever Wichita LLC, says it's too early to tell what he'll do with the historif site, although it's certain to matcnh the feel ofOld Town. He says some new restaurants mighy popup there. He plans to close on the deal in90 "It will be stuff that fits in therse (with Old Town)," he says. But, "there'sz too much conjecture. I haven't even closedd on this." Cox has had the building near Douglasx and Mead on the market for monthz after moving to a larger location in south The company wasasking $6.
5 million for the which consists of 105,000 square feet in three Cox spokesman Jay Allbaugh says the building will sell close to its asking price but wasn't specific. "Hes has an entertainment and retail plan for the which I thinkis great," says Allbaugh. "It' s kind of a win-win Frigon has invested in real estatefor years. He has properties in Manhattanand Eagle, Colo. "It's just me, I'm not a big company," he CB Richard Ellis in Atlantaand Wichita's Grubb Ellis/Martens Commercial Group is representing Cox in the Cox will lease back two buildings for its own use. The site coverss 9.4 acres.
The development comes as construction continueson , whic h sits just to the west. The arenqa is set for completion inJanuary 2010. Earlty on, there was some doubt among developers aboutt whether Cox would be able to find a buyerr with entertainment plans for the facility becauser offinancing concerns. Some thought the buildintg would remain asan office, which Cox used it for duringb its stay. Frigon wouldn't say wheres his financing on the project wouldcome from. But he says he's been impressed with the effortss to revitalizedowntown Wichita. He praisede the sales tax passed by voters that is paying for thedowntowh arena.
He also spoke highly of the improvements alongf theArkansas River. "It's significant what they did. It takex a lot of foresight and gumption," he "These things don't happen out of thin
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