Mass. Ave. North St. N. New Jersey St. E. Michigan St. Old National Centre The Rathskeller PENROSE ON MASS PROJECT The new Penrose on Mass project offers retailers and restaurants, looking to expand in downtown Indianapolis, a unique opportunity that they rarely find in an urban setting: new, contemporary construction; plenty of on-site parking and a strong residential component all in a commercial-friendly environment. The newly-approved, $50-million, mixed-use Penrose on Mass project in downtown Indianapolis will include 4-stories (236 apartment units) by developer JC Hart, and 37,000 square feet of retail on the first floor to be developed by Strongbox, led by Paul Kite. To locate the creative pulse of Indianapolis, you have to go to Mass Ave. It’s a hotbed of theater, arts, unique restaurants, retail shops and new residential growth. Mass Avenue By The Numbers (Three-Mile Radius): 9,013 Businesses 204,744 Employees 106,011 Population 44,829 Households Beth Patterson Principal & Director of Retail Services Direct 317.663.6558 Mobile 317.514.8454 [email protected]RESOURCE Commercial Real Estate 9339 Priority Way West Drive Suite 120 Indianapolis, IN 46240 37,000 SF RETAIL IN A MIXED USE DEVELOPMENT FOR LEASE // MIXED USE 500 Massachusetts Avenue // Indianapolis, IN 46204 RCRE.com
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37,000 SF RETAIL IN A MIXED USE DEVELOPMENT€¦ · 37,000 SF RETAIL IN A MIXED USE DEVELOPMENT RCRE.com DN 4434 SF Suite 1100 1615 SF Suite 1000 1446 SF Suite 900 2853 SF Suite 800
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Mass.
Ave.
North St.
N. N
ew J
erse
y S
t.
E. Michigan St.
Old National Centre
The Rathskeller
PENROSE ON MASS PROJECT
The new Penrose on Mass project offers retailers and restaurants,
looking to expand in downtown Indianapolis, a unique opportunity
that they rarely find in an urban setting: new, contemporary
construction; plenty of on-site parking and a strong residential
component all in a commercial-friendly environment.
The newly-approved, $50-million, mixed-use Penrose on Mass
project in downtown Indianapolis will include 4-stories (236
apartment units) by developer JC Hart, and 37,000 square feet of
retail on the first floor to be developed by Strongbox, led by Paul
Kite.
To locate the creative pulse of
Indianapolis, you have to go to
Mass Ave. It’s a hotbed of theater,
arts, unique restaurants, retail
shops and new residential growth.
Mass Avenue By The Numbers (Three-Mile Radius):
9,013 Businesses
204,744 Employees
106,011 Population
44,829 Households
Beth PattersonPrincipal & Director of Retail ServicesDirect 317.663.6558Mobile [email protected]
RESOURCE Commercial Real Estate9339 Priority Way West Drive Suite 120Indianapolis, IN 46240
37,000 SF RETAIL IN A MIXED USE DEVELOPMENTFOR LEASE // MIXED USE500 Massachusetts Avenue // Indianapolis, IN 46204
RCRE.com
37,000 SF RETAIL IN A MIXED USE DEVELOPMENT
RCRE.com
DN
4434 SF
Suite 1100
1615 SF
Suite 1000
1446 SF
Suite 900
2853 SF
Suite 800
6981 SF
Suite 100
6997 SF
Suite 200
3857 SF
Suite 300
4065 SF
Suite 500
2248 SF
Suite 700
3233 SF
Suite 600
413 SF
Shared Corridor
26' -
1 1
/4"
48' - 2 3/8"
119' -
7 7
/8"
44' - 6 7/8"
135' -
0 1
/8"
84' -
8 5
/8"
48' - 8"
82' - 1 1
/8"
47' -
9 3
/8"
27' -
8"
35' -
8 1
/8"
24' -
0"
43' -
7 1
/2"
47' - 8
"
15' - 4 5
/8"
63' - 6 1/2"48' - 3 1/8"
81' - 1 1
/8"
62' -
7 1
/2"
56' -
10 3
/4"
69' -
11 5
/8"
MASS A
VE
NORTH STREETN
EW
JE
RS
EY
ST
.
32' - 6 1
/2"
23' - 0 5
/8"
57' -
9 1
/8"
21' - 1
0 7
/8"
64' - 2 3
/8"
Beth PattersonPrincipal & Director of Retail ServicesDirect 317.663.6558Mobile [email protected]
500 Massachusetts Ave. // Indianapolis, IN 46204
+ 37,000 square feet of retail on the first floor
+ Located in the heart of Mass. Avenue
+ Construction to begin Summer 2016, with delivery in Q2 2018
+ Mix of brick, stone and metal paneling along Mass Ave.
+ 236 apartment units
PROPERTY FEATURES+ Signature architecture and LEED certification
+ 20’ clear ceiling heights allowing for mezzanines
+ Outdoor patio capability
+ Rear covered delivery
+ 62 new street level and 215 garage parking spaces available for retail use
Suite 12001,000 SF
RCRE.com
EskenaziHealth
RileyHospital for
Children
IU Health University Hospital
IUPUI Campus
Indy Eleven Field
Indiana State
Museum
NCAA Hall of Champions
EiteljorgMuseum
Victory Field
Lucas Oil
Indianapolis Zoo
Indianapolis Convention
Center
Indianapolis City Market
Hilbert Circle
Theatre
Indiana State House
Central Library
Bankers Life Fieldhouse
Eli Lilly Corp. Center
Circle Center Mall
AmericanLegion
Scottish Rite Cathedral
Frank & Katrina Basile
Theater
MuratTheatre
PhoenixTheatre
Theatreon the Square
AthenaeumTheatre,
Biergarten,Restaurant &
YMCA
SITE
White River Park
Beth PattersonPrincipal & Director of Retail ServicesDirect 317.663.6558Mobile [email protected]
37,000 SF RETAIL IN A MIXED USE DEVELOPMENT
+ Most retailers and restaurants in downtown and along Mass Avenue report higher than average sales, which is a strong indicator to other retailers that Indianapolis is a market in which to grow.
+ There are 7,400 hotel rooms in the downtown Indianapolis area with 4,800 of them connected through enclosed walkways and another 300 slated to open by 2018.
+ The Indianapolis Convention Center, comprised of 1,300,000 SF and other convention venues host 588 events each year, bringing in $2 Billion annually.
+ In the 2014 Downtown Indy Developers Survey Data, 36 percent of the residents analyzed who are moving into Downtown were doing so from outside of Indiana. An additional 27 percent were moving Downtown from within the state, but new to Marion County.
+ These new Downtown residents have an average household income of $90,807.
+ In the Pipeline - When looking ahead, Indianapolis has over 73 new projects in the pipeline, totaling 648 hotel rooms and 4,376 residential units for a total investment of $2.9 billion by 2020.
ABOUT DOWNTOWN INDIANAPOLIS
Known affectionately as Mass Ave, this
five-block area is ripe with theaters,
restaurants, art galleries and, most
attractively for shoppers, a number
of eclectic, independent boutiques.
Visitors encounter unique finds on each
block, from Stout’s Shoes (the nation’s
oldest shoe store, established in 1886),
to Silver In The City/At Home In The
City to The Best Chocolate In Town.
Another attraction is the Athenaeum where patrons enjoy German
lager in the historic Rathskeller Biergarten, try local craft beers at
Ralston’s Drafthouse, or sip a cocktail at the prohibition-era ball &
biscuit. Foodies can indulge on American-modern cuisine at Mesh,
or take down a platter of tacos at Bakersfield. Indy culture at its
finest on Mass Ave: “45 Degrees from Ordinary.”
- From www.visitindy.com
Area RestaurantsBakersfieldBall & BiscuitBARcelona Tapas Restaurant
BazbeauxBlack MarketBroken Beaker Distillery
BRU Burger BarChatham TapThe EagleFat Dan’sThe Flying CupcakeForty Five DegreesFresco Italian Sandwich Shoppe
Goodfellas PizzeriaHoaglin To-Go Café
India GardenLiveryLouie’s Wine Dive & Mass Avenue Kitchen
MacNiven’sMass Ave Pub Liberty Street
MeshMimi Blue MeatballsNine Irish BrothersOld Point TavernRalston’sThe RathskellerRooster’s KitchenSALT on MassSub Zero Ice Cream & Yogurt
The TapTini
ThaitaniumUnion 50
RetailArts A PoppinBoomerang BoutiqueChatham HomeCity Dogs GroceryCrimson TateGlobal GiftsMass Ave WineNewfangled ConfectionsNurtureSage BoutiqueSilver in the CityStout’s ShoesThree Dog BakeryWatt’s Blooming
Art GalleriesArt BankBarry Franklin GalleryThe Frame Shop
EntertainmentChatterbox Jazz ClubComedySportz Indianapolis
IndyFringeKingmakersMurat TheatrePhoenix TheatreTheatre on the Square
The information contained herein was obtained from sources we consider reliable. We cannot be responsible for errors, omissions, prior sale or lease, withdrawal from the market or change in price. Seller and broker make no representation as to the environmental condition of the property and recommend the lessee’s/purchaser’s independent investigation.
RESOURCE Commercial Real Estate9339 Priority Way West Drive Suite 120Indianapolis, IN 46240RCRE.com
CONTACT
Beth PattersonPrincipal & Director of Retail ServicesDirect 317.663.6558Mobile [email protected]
RCRE.com
PENROSE ON MASS
Delaware Street New York
Street
Mass A
ve
Black MarketMimi Blue MeatballsRooster’s Kitchen
Old National CenterThe Rathskeller
Sub Zero Ice Cream & YogurtOld Point TavernChatterbox Jazz ClubThe Flying Cupcake Bakery