Commercial Real Estate and Retailers and Retail Development and Development/Redevelopment and Real estate deals and Retail and Real Estate & Retail

Altum’s staying put at current west Carmel location

March 23, 2011

Altum’s Horticultural Center & Landscape in west Carmel is staying at its current location on North Michigan Road after calling off plans to move to another location about four miles north.

The relocation plans arose from a tentative deal Altum’s struck with Kroger Co. in 2009 to sell 23 acres to the Cincinnati-based grocer. But Kroger dropped its plans last fall to build a store on the current nursery site at 11335 N. Michigan Road, between 106th and 116th streets.  

After Kroger's decision, Altum’s explored other redevelopment options for the property and still planned to move to a location near Michigan Road and 146th Street this year.

Owner Dana Altum said on Monday, however, that the nursery did not sign a final contract to purchase the property and was able to “get out of that situation.”

“Our customers have been a bit confused by it all,” she said.

Still, she didn’t rule out the possibility that a future deal with another buyer could be struck.

“There have been some other discussions,” Altum said, “but nothing has come to fruition at this time.”

A move would enable the nursery to reduce its footprint and unload a lot of unused, undeveloped space, she said. Altum’s has owned the land since 1996.

The nursery opened in 1982 and previously was located a few miles south on Michigan Road. Altum’s roots date to 1958, when Altum’s father, Bob, founded a landscaping company.

A Kroger spokesman told IBJ last fall that the numbers just didn’t work on the Altum’s site, but that the chain still is interested in the area and might even reconsider the same site if economic variables change.

Kroger does not have a store in the west Carmel/Zionsville area. Its closest locations are on West 86th Street just west of Township Line Road and at West 71st Street and Georgetown Road.

Marsh Supermarkets Inc. and Target Corp. have nearby grocery stores, on the east side of Michigan Road.
 

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