Archive for Wednesday, February 4, 2004

Laundry opens: developer seeks fourth tenant for new building

February 4, 2004

Tonganoxie's second coin-operated laundry opened last week.

Owner Ken Hayes, Baldwin, said this means his Tonganoxie construction project only has one vacant space left -- a 2,500-square-foot bay. And, he's had leads on that.

"Quite a few," Hayes said. "I've got two that are seriously negotiating with us right now, so I would expect to see something start happening there in the next month or so."

But he wouldn't discuss any further details.

Hayes shopping area, at the corner of U.S. Highway 24-40 and Main Street, also houses a Dollar General and a Couch Potato Video store.

Overall, his $1.1 million investment in Tonganoxie, which includes the land, building, parking lot and infrastructure, has been a good one, Hayes said, noting the property's valuation has increased.

"It makes the bankers happy," Hayes said. "The last appraisal was $1.4 million."

Hayes, who owns the laundry with partner Mike Holtine, said he hasn't written off the possibility of more investments in Tonganoxie.

"At this point I'm just waiting until we have this fully leased," Hayes said. "Once it's up to 100 percent, yeah, we would consider doing more there if we have the tenants for it."

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