For sale signs are starting to go up on commercial properties near the future Sioux Falls Events Center.
Owners of the Burnside Business Center hope its close proximity to the new $115 million Events Center will help it sell for a little more money.
The commercial property up for sale is located immediately west of McCart Park on Burnside Street. So, the sellers hope to capitalize on that when it comes to the sale of their property.
The Burnside Business Center occupies a nearly 80,000 square foot lot. A mechanics shop, motorcycle repair business and tattoo parlor are some of the businesses operating in the commercial space. However, the owners of the property are ready to sell and hope the new Events Center helps them get a better price.
"The income is the potatoes and developing it into a hotel or a restaurant down the road is the gravy," commercial broker Mike Hauck said.
The current asking price is $1.5 million. Hauck says the property and location are perfect for development that would compliment the future Events Center.
"I think everybody in the community would hope that we would see some additional development out here. We've got a big investment over there with the convention center, baseball and Howard Wood and I think people are a little frustrated that there aren't more entertainment options and eating options when they come out to a ball game or an event," Hauck said.
We checked with the city to see what kind of development it's hoping to see in the area. Chief city planning officer Jeff Schmitt wouldn't go into specifics. He told us the city supports whatever home and business owners in the area want to do.
"If they think there's a better value out there, they should definitely move forward on that. That's something the city is always interested in," Schmitt said.
Hauck says the owners talked about selling the property before the Event Centers was voted on, but they waited to find out if it was approved before listing the property for sale.