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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 Feb. 23, 2021:
Briefs:
—The Scoop Shack, a combination ice cream shop and artisan boutique, is expected to open this spring at 7002 Lake Plaza Drive in the Avalon Crossing shopping center, just east of Binford Boulevard and south of 71st Street. Owners Nicole Eslinger and Sonja Schaeckenbach will begin remodeling soon and hope to have the shop open in May. Eslinger told IBJ that the 1,768-square-foot shop will sell locally made ice cream, with a space for private parties and meetings. It will also include a boutique area with locally produced goods including honey, bath products, pet treats, jewelry, sauces, artwork and other items.
—Axle’s Garage Tap opened last week at the Bottleworks District’s Garage Food Hall, 906 Carrollton Ave. Axle’s, a concept created by Geronimo Hospitality Group, offers a curated menu of 20 specialty and craft beers on tap. The Garage, a 38,000-square-foot space with spots for more than 20 local and regional vendors, opened Jan. 5. Several additional tenants are expected to open next month, including British fish-and-chips shop The Harbour and Certain Feelings Coffee Co.
—The Austin, Texas-based Tex-Mex chain Chuy’s expects to open its newest Indianapolis-area location, at 4670 Southport Crossing Drive, on March 30. The local owner/operator is Angelo Del Verne. The restaurant is taking the spot formerly occupied by Cheeseburger in Paradise, which closed in August 2018. Chuy’s has 100 locations in 19 states, including restaurants in Carmel and Noblesville.
—The 93-acre Cain Farms property in Greenfield was sold this month for $7 million to make way for a new industrial park. Buyers CTR Logistics Partners and Diamond Capital bought the property at 7062 West 300 North in Hancock County from the Cain family. The partners plan to develop multiple speculative buildings on the property totaling at least 1 million square feet, although details have not yet been made public. The Cains were represented by Bradley Company’s Michael Horrigan, while Terry Busch and Jared Scaringe with the Indianapolis office of CBRE represented the buyers.
Sales
Village 10 LLC bought an acre outlot within The Village of West Clay in Carmel. The buyer was represented by Bryan Augustin of ALO Property Group. The seller, Brenwick Development, was represented by Michael P. Sloan of Meridian Group Realty.
1030 S. Rangeline LLC bought the 32,000-square-foot mixed-use building at 1030 S. Rangeline Road in Carmel. The buyer was represented by Brian Bondus of ALO Property Group. The seller, Rich Living Trust, was represented by Tom Osborne and Kim Hartman of Bradley Co.
Lancaster Land LLC purchased 5.3 acres of land at 6621 W. Broadway, McCordsville. The landlord, MC Gateway Land, LLC was represented by Keith Fried of McCrea Property Group. The buyer was represented by Stephen Daum of Colliers International.
Leases:
Costa Brava Mexican Restaurant leased 5,400 square feet at Cross Creek Shopping Center, 5644 Georgetown Road. The Landlord, Cross Creek LLC, was represented by Jason Fried and Liz Morken of McCrea Property Group. The tenant represented themselves.
Sports Bar & Grill leased 4,800 square feet at Cross Creek Shopping Center, 5648 Georgetown Road. The Landlord, Cross Creek LLC, was represented by Keith Fried of McCrea Property Group. The tenant was represented by Jason Fried of McCrea Property Group.
Lopez Mattress leased 4,500 square feet at August Plaza, 2800 Westlane Road. The Landlord, Augusta Plaza Associates LP, was represented by Liz Morken of McCrea Property Group. The tenant represented itself.
Confection Connection Bakery leased 2,120 square feet at Greenfield Station Shopping Center, 1917 Melody Lane, Greenfield. The Landlord, LOR Corp., was represented by Jason Fried of McCrea Property Group. The tenant represented itself.
Construction:
Kort Builders completed a 10,000-square-foot retail space for ACE Hardware- Geist at 11581 Geist Pavilion Drive, Fishers.
Kort Builders completed a 6,600-square-foot office space for DCL-Expansion at 310 W. Michigan Road.
Kort Builders completed a 3,140-square-foot retail space for Mindset/Business Furniture at 11634 Maple Street, Fishers.
Capitol Construction completed an 11,150-square-foot office build-out for Burgess & Niple at 251 N. Illinois St.
Rates:
The average rate for 30-year mortgages rose from 2.73% to 2.81% in the week ended Feb. 18, according to FreddieMac. The rate for 15-year mortgages rose from 2.19% to 2.21%.
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