WICHITA, Ks. – April 30th, 2020- Triple Crown Realty Trust has added another prominent Wichita property to its portfolio.
Chance Rides has exchanged part of their West campus into Triple Crown Realty Trust in exchange for partnership units in the Triple Crown portfolio of assets.
This included over 218,150 sq. ft. of industrial manufacturing space on 13 acres at the Chance Rides campus located in Wichita, KS.
“This is the perfect opportunity for our family to stay in our manufacturing facility that has been our home for almost 50 years. Diversifying our family’s investments in something moving as rapidly as Triple Crown, that is also local right here in Wichita. This was an exciting option. Wichita has been great for the success of our company over the decades and now we can continue our growth and be a part of the development of another local entity like Triple Crown,” owner Dick Chance stated.
Triple Crown is an active buyer in the single tenant sale leaseback portion of the industrial and commercial real estate market throughout Wichita and the mid-west.
Jeff Lange said Triple Crown’s goal is to be 50% invested in the CrossGate District and 50% outside of it, whether that’s in Wichita or elsewhere in the midwest.
“This acquisition is a big deal to us because of our story growing beyond the CrossGate District.”
This is the 2nd notable acquisition for Triple Crown in Wichita outside the Crossgate District Terra-Cotta Towers, a 5-story office building at 29th & Rock Rd became a Triple Crown asset in 2019.
Carrie Rengers covered the story for The Wichita Eagle.