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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThese news notes appeared in IBJ’s Real Estate Weekly on July 6, 2021:
Briefs:
— Next Door American Eatery at 4573 N. College Ave., which closed in March 2020 because of the pandemic, will reopen July 26 with a revamped menu and new concept. The menu will be built around street food from around the world, and the eatery will also serve brunch from 10 a.m. to 3 p.m. Saturdays and Sundays. Hours will be 2:30 p.m. to 9 p.m. Monday through Thursday, 2:30 p.m. to 11 p.m. Friday, 10 a.m. to 11 p.m. Saturday and 10 a.m. to 9 p.m. Sunday. The restaurant’s new general manager is Yussef Abdelhak, and the head chef is Joseph Tabor. Next Door is part of the Boulder, Colorado-based Kitchen Restaurant Group founded by Hugo Matheson and Kimbal Musk, who is the brother of tech giant Elon Musk.
— The Indianapolis-based Eight Eleven Group has broken ground on its new headquarters in Broad Ripple, plans for which were first reported by IBJ in November 2019. The property on the northeast corner of 62nd Street and College Avenue will feature 57,000 square feet shared between the staffing company’s three brands—Brooksource, Medasource and Calculated Hire. The project is being developed through a partnership of Veritas Realty and Chase Development, and will include workforce housing and retail. Construction will formally commence today, with completion expected by the end of 2022.
— Bank of America, which entered the Indianapolis market with retail banking centers in 2017, has opened its first Zionsville branch, at 10800 N. Michigan Road. The location is a full-service office with a staff of eight. Bank of America now has seven full-service offices and eight of what the company calls “advanced centers”—unstaffed offices where customers can interact with a bank employee via live video link.
— Hawkmoth Barber opened June 19 at 2033 E. 46th St., a few blocks west of Keystone Avenue. Shop owners are Matthew Pumphrey and Savannah Hughes. The business bills itself as a classic barber shop that focuses on haircuts, beard trims and hot-lather shaves.
— Construction is under way on two speculative industrial buildings IBJ first reported on in the June 9 edition of Real Estate Weekly. The Opus Group and Clarion Partners LLC broke ground on the buildings at the Point 70 Logistics Park in the Mount Comfort corridor on June 22. The buildings are situated on 88 acres and are expected to be about 803,000 and 299,000 square feet, respectively. Both are slated for completion in summer 2022.
Sales:
Argo Family Storage LLC has purchased 12 acres on North 800 West, Greenfield. The seller, Marion Hall, was represented by Michael Horrigan of Bradley Company. The buyer was represented by Jason Challand of Veritas realty.
ReConserve of Indiana Inc. has purchased 15.265 acres on Hancel Circle in Mooresville. The seller, J&J Commercial Investment s LLC, was represented by Patrick Lindley of Cushman & Wakefield. The buyer was represented by Michael Horrigan of Bradley Co.
Leases:
Golden Goose Tattoo leased 1,200 square feet at Lynhurst Shoppes, 5329 W. 10th St. The landlord, LOR Corp., was represented by Liz Morken of McCrea Property Group. The tenant represented itself.
Ebony Salon leased 1,512 square feet at Eagle Creek Shops, 6985 W. 38th St. The landlord, Ossip Real Estate LLC, was represented by Liz Morken of McCrea Property Group. The tenant represented itself.
Bozbak Tasty leased 1,600 square feet at Westlane Plaza, 7115 Michigan Road. The landlord, Westlane Baceline LLC, was represented by Liz Morken of McCrea Property Group. The tenant represented itself.
Federal Express Office & Printing leased 2,000 square feet at Clearwater Springs Shopping Center, 4900 E. 82nd St. The landlord, East 82nd Street Partners LLC, was represented by Keith Fried of McCrea Property Group. The tenant was represented by Carol Lockhart of Baum Realty.
T Nails and Spa leased 2,100 square feet at River Plaza, 839 S. Tillotson Ave., Muncie. The landlord, US Bank National Association (trustee), was represented by Jason Fried of McCrea Property Group. The tenant represented itself.
Fritsch Otology leased 4,221 square feet at 9002 N. Meridian St. The tenant was represented by Joshua Graham and Jon Owens of Cushman & Wakefield. The landlord, GAHC3 Lakeview IN Medical Plaza LLC, was represented by Ross Goyer of Cornerstone Cos.
Construction:
Kort Builders completed a 1,500-square-foot office expansion for Scannell Properties, 8801 River Crossing Blvd.
Kort Builders completed a 4,500-square-foot office buildout for Chicago Title, 6925 E. 96th St.
Capitol Construction completed a 20,395-square-foot office remodel for Market Wagon at 6802 Hillside Court.
Kort Builders completed a 22,852-square-foot office buildout for Kittle Property Group, 310 E. 96th St.
Rates:
The average rate for 30-year mortgages fell from 3.02% to 2.98% in the week ended July 1, according to FreddieMac. The rate for 15-year mortgages fell from 2.34 to 2.26%.
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