Real Estate Weekly: News notes 03/02/21

These news notes appeared in IBJ’s Real Estate Weekly on March 2, 2021:

—Store-within-a-store Sephora cosmetics shops are coming to two Indianapolis-area Kohl’s locations as part of a larger collaboration between the two retailers. The new concept, a 2,500-square-foot space branded as Sephora at Kohl’s, is launching at 200 Kohl’s stores this fall, including 4850 E. Southport Road in Southport Commons and 550 W. Fry Road in Greenwood. The retailers say they plan to expand the partnership to at least 850 Kohl’s stores by 2023. Kohl’s has more than 1,150 locations in all. Sephora at Kohl’s was first announced in December, but the retailers did not reveal the locations of the first 200 stores until last week.

—The breakfast-and-lunch spot Another Broken Egg Café is opening a restaurant at 5025 E. 82^nd St., in a spot formerly occupied by Panera at the Clearwater Springs shopping center. The café’s operator will be Indianapolis-based Rootstock Hospitality Group, which also operates Another Broken Egg locations at 9435 N. Meridian St.; 8626 E. 116^th St. in Fishers; and West Lafayette. Rootstock says it expects to open the 82^nd Street location on June 1. Based in Orlando, Florida, Another Broken Egg has more than 70 locations in 13 states.

—Indianapolis-based ALO Property Group will handle leasing for the new First Internet Bank headquarters building under construction in Fishers’ Nickel Plate District. The six-story building, which is on track for completion by the end of this year, will have three retail spaces at street level ranging from 1,500 to 1,800 square feet and a restaurant space of up to 8,500 square feet on the corner. The building will also have multiple office configurations ranging from 500 to 10,000 square feet. A 750-space parking garage is also being built as part of the project.

—Bangkok Restaurant & Jazz Bar, 225 E. Ohio St., reopened Feb. 22. The downtown eatery had been closed for restoration since November because of a kitchen fire.

—Woodhouse Day Spa is set to open March 23 at Bottleworks District, 850 Massachusetts Ave. The franchisees are Terri Smith and her son, Tyler Smith, who also operate Woodhouse locations in Carmel, Fishers and Zionsville.

—Leather-goods retailer Coach has closed its Fashion Mall at Keystone location, leaving the retailer with one remaining Indy-area store, at Greenwood Park Mall. An employee at the Greenwood location said the Fashion Mall location closed on Sunday.

—The Aldo shoe store at Castleton Square Mall is closing. An employee at the store said a closing date has not yet been set. The Canada-based retailer also has a store at Circle Centre mall, and that location will remain open.

—The Helzberg Diamonds store in Castleton Square Mall store also has closed. The retailer still has two remaining locations, at Greenwood Park Mall and at 2663 E. Main St. in Plainfield. An employee at the Plainfield location said the Castleton store’s last day of operations was Feb. 21.

Sales

0810 Management LLC bought the 22,325-square-foot medical office building at 7430 N. Shadeland Ave. The buyer was represented by Robert Butcher of Keller Williams Indy Metro Northeast. The Seller, SNAG LLC, was represented by Paul Dick and Kevin Dick of Bradley Co.

Kirby Realty Group acquired Pennwood Office Park at 11405 and 11495 N. Pennsylvania St., Carmel. Keith Dedrick of Corporate Commercial Group LLC represented both the buyer and the seller, Jordan Enterprises.

Leases

Unk’s Tattoos renewed its lease for 600 square feet at August Plaza, 7241 Michigan Road. The landlord, Augusta Plaza Associates LP, was represented by Meghan Binkerd of McCrea Property Group. The tenant represented itself.

CPR (Cell Phone Repair) leased 1,200 square feet at Castleton Shops, 5977 E. 82^nd St.  The landlord, Castleton Shops 13 LLC, was represented by Paige Pettenaro of McCrea Property Group. The tenant represented itself.

Chile Limon Restaurant leased 1,512 square feet at Eagle Creek Shops, 6985 W. 38^th St. The landlord, Ossip Real Estate LLC, was represented by Liz Morken of McCrea Property Group. The tenant represented itself.

Venus Beauty Salon renewed their lease for 6,400 square feet at Northwest Marketplace, 3860 Lafayette Road. The landlord, Lafayette Triangle LLC, was represented by Meghan Binkerd of McCrea Property Group. The tenant represented itself.

Construction

Capitol Construction completed a 2,400-square-foot office build-out for Affordable Dental at 3850 N. Post Road.

Capitol Construction completed an 18,385-square-foot office build-out for Flywheel at 10330 N. Meridian St.

Rates

The average rate for 30-year mortgages rose from 2.81% to 2.97% in the week ended Feb. 25, according to FreddieMac. The rate for 15-year mortgages rose from 2.21% to 2.34%.