- Real Estate
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By Rosemary McCoy
A development group is constructing four condo office buildings in southwest Sioux Falls.
Technology Business Park Condominiums is filling a gap for small businesses that don’t need a lot of space but want to own rather than lease, said Scott Van Ginkel of Vantis Commercial Real Estate, the listing agent for the project.
“We’re targeting the project at smaller owner/users,” he said. “They can come in and buy 2,500 square feet of office space and use it for themselves.”
The Hawkeye Investments LLC project is along Technology Circle, which is west of Louise Avenue near 57th Street. Each single-story building will have almost 5,000 square feet and will be built out for two businesses. The spaces will be turnkey ready, which Van Ginkel said is another advantage for small-business owners.
Each half will have offices, a receptionist/work area, bathrooms and a break room with appliances. Van Ginkel described the finishes as upper-end.
“We can certainly customize if they come in before we are at that point,” he said. If a business wants to occupy the entire building, that’s also an option.
The first building at 3901 and 3903 W. Technology Circle was completed at the end of 2016. The owner-tenants are a Thrivent Financial office and Financial Distributors.
“The foundations are being poured for the other three, and we’ll build them one after another,” Van Ginkel said. The second building should be ready by the end of the year. Empire Homes is the contractor.
The condo owners will belong to an association, splitting the costs of maintenance and upkeep. The four buildings will share a parking lot.
The southwest site is well located, Van Ginkel said, with easy access to main streets and Interstate 229.
The development group is looking at other sites in Sioux Falls that could work for a condo office project.
Technology Business Park Condominiums is filling a gap for small businesses that don’t need a lot of space but want to own rather than lease.