Posted on 04-11-2014
Wells Fargo Advisors will be the first tenant in a new office development in southern Sioux Falls.
Van Buskirk Cos. is developing the Heather Ridge Office Park at 6320 S. Western Ave. It's behind the Heather Ridge Village office and retail center southeast of 69th Street and Western Avenue. The company also developed the Remington office area at 69th and Western.
"It (the new center) will have the quality finishes of Remington, but we're trying to bring some different looks to the building," said Mike Van Buskirk, head of property management, commercial leasing and commercial development. Each of the three office buildings will be 10,000 square feet.
Wells Fargo Advisors will take most of the first building when it relocates from 4930 S. Western Ave., where the firm has had an office for more than a decade. Twenty people work in the office. "We wanted to have a configuration that felt like we're all together instead of having two suites," said Joe Wood, Dakota complex manager. "Our needs changed, and we wanted a better layout." The office provides financial advice and planning to retail investors. Construction is expected to start this month. Wells Fargo plans to move in September.
"We are going to build in phases unless we get so much demand it all happens at once," Van Buskirk said. "That's how Remington started. We were going to do one and build in phases, and we just kept going." He credits a growing population, the location and quality of the project for helping fill that center, which has about twice the total square footage of the new one being planned. "Because we're 100 percent full at Remington, we're getting calls regularly on office," Van Buskirk said. "We're getting good interest." Location was the appeal for Wells Fargo.
"We hope to grow. I think we will over time," Wood said. "We like the ease of access for our clients from a parking perspective and from an access to (Interstate) 229 perspective. A lot of people come to our office. We're excited about it."
New building owners
Two office buildings in the Heather Ridge Village development have a new owner. The Bancorp and Williams Insurance buildings at 69th Street and Western Avenue owned by Heineman Properties Spe LLC sold for $14.25 million. The new owner is local investor Pinnacle Investments.
"It's fantastic class A space with lots of interest from multiple buyers in the region, and we were lucky enough to have a local Sioux Falls entity purchase it," said Scott Van Ginkel, director of KW Commercial, who represented the seller. The new owner plans to keep operating the buildings with the existing tenants, he said.