Paying homage to the past and looking forward into the future. Breathing new life into a former Coca-Cola bottling plant.
Hendricks Commercial Properties was selected to acquire and develop the historic 11 acre former Coca-Cola bottling plant in downtown Indianapolis. Their project will pay homage to the history of the plant and will be anchored by a boutique hotel, dynamic street-level retail shops, a combination of residential units (apartments, condos and townhouses), entertainment and creative office spaces.
At an estimated $260 million, the development will be located along Massachusetts Avenue: Indy's premier arts and entertainment district.
Hoffman Strategy Group was contracted to develop a retail feasibility report and tenant mix analysis with forecasted sales by individual tenant. We identified the residential trade area, current competitive environment, retail voids, daytime business employees and future population demographics to support our findings.
- Development can support 101,500 square feet in new retails stores and restaurants.
- New retail and restaurants are viable at the location as early as 2017.
- Recommended a mix of tenants that provide a unique, destination- oriented appeal to a broad cross-section of consumers that include household residents, daytime workers, college students, convention attendees, and tourists.
- July 2017 - Plans approved for a $260 million redevelopment of the site.
- Project is slated to complete in late 2019.