Sybrandy sees attractions driving CRE rebound

Since joining Koch Development Co. in 2012, Mandy Sybrandy has built a specialized team of managers and staff to operate SkyWheel® Attractions.

SkyWheel® started as a stand-alone iconic attraction in May 2011 with SkyWheel Myrtle Beach. Over the years, it has evolved into a full-service entertainment venue with a ropes course, Snack Shack and an 18-hole miniature golf course in its Panama City Beach, Fla. location.

Clayton, Mo-based Koch Development, who retains an ownership interest of SkyWheel, became the first company to bring an observation wheel of its type to the United States, with locations in Myrtle Beach, S.C. and Panama City Beach.

“Retailers and landlords see tremendous value in such iconic attractions because they attract customers to the location for entertainment and then capture their visit for traditional retail spending, especially as vacations and travel adapt post-COVID,” Sybrandy said.

According to its website, the SkyWheel® is not a carnival ride, but a modern, safe observation wheel towering almost 200 feet in the air with fully-enclosed gondolas offering a safe and secure flight with glass windows and doors for optimal views and photography. The gondolas are heated and cooled, allowing for year-round operation.

Sybrandy, who was recently promoted to vice president of attractions and installed as an officer of Koch Development, said that there are no current attraction opportunities under review in St. Louis.

“SkyWheel® is capitalizing on the power of bringing an experience to locations such as our location at Pier Park in Panama City Beach, Fla., where SkyWheel® enhances the marketability of traditional commercial real estate,” Sybrandy said.

Sybrandy sees great pent-up demand for travel now.

“Staycations and domestic travel within driving distance are accelerating,” Sybrandy said.

As a result, Sybrandy expects the Myrtle Beach and Panama City Beach locations to rebound this year.

Sybrandy graduated from Saint Louis University with a bachelor’s degree in organizational studies and a minor in hospitality management. She is a member of the International Association of Amusement Parks and Attractions and of the National Association of Amusement Ride Safety Officials, which focuses on operations.

Now entering its second century in business, Koch Development is a St. Louis-based, third-generation, family-owned company that develops, owns and manages a diverse portfolio of commercial real estate and entertainment attractions.