IHOP adding new restaurants

June 10, 2011
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IHOPThe IHOP restaurant chain is trying to regain a foothold in central Indiana with two new locations under construction and at least three more in the works. The chain is putting the finishing touches on a 4,600-square-foot restaurant along North by Northeast Boulevard near 96th Street and Interstate 69 in Fishers, and plans to add another restaurant in the former home of Mountain Jack's Steakhouse in front of Target at 38th Street and Interstate 465. Locally based Thompson Thrift is handling development and construction. The chain also is scouting sites for new restaurants in Brownsburg, Carmel and downtown Indianapolis. In recent years, the chain had closed stores across from Castleton Square Mall and at 16th and Meridian streets. The chain, which is part of California-based DineEquity Inc., has Indianapolis restaurants on East 56th Street and U.S. 31 South, and a location in Avon on U.S. Highway 36. The franchisee who owns the local stores is Mike Ruben.

  • Get on your game!
    First off I love this blog and check it almost every day. However, In the recent weeks it totally skipped over some major development news in the Indianapolis area. I love IHOP but I there are far more interesting developments that could be reported on.
  • TRUE
    Corey you used to be on top of everything real estate going on...whats happening...did you recently break up with your girl b/c this new Corey is way off of his game
  • [No title]
    You're not impressed with the IHOP post. Fair enough. Please let me know what stories you'd like to see and if you have tips. I'm eager to keep Property Lines engaging and interesting, but the reality of our business model is we provide the biggest stories to our paying customers first. I'm guessing from your comments you're not a subscriber to IBJ in print or online. You should become one. Here are some highlights from the last few weeks:

    An Arizona project bankrupts a local developer: http://www.ibj.com/arizona-project-bankrupts-local-developer-bodner/PARAMS/article/27681

    Details on several deals in the works around The Fashion Mall at Keystone including on the former site of Venu: http://www.ibj.com/real-estate-dealmaking-picks-up-around-fashion-mall/PARAMS/article/27540

    Lawsuit brought by Kosenes ensnares developer of The Residences on Market: http://www.ibj.com/kosenes-take-on-expartner-in-court/PARAMS/article/27535

    Plans to turn Bush Stadium into apartments: http://www.ibj.com/city-to-roll-out-plan-for-16th-street-tech-corridor/PARAMS/article/27704

    Carson Pirie Scott renews lease in good sign for Circle Centre, along with more coverage of Nordstrom closing: http://www.ibj.com/circle-centre-can-survive-nordstrom-loss-experts-say/PARAMS/article/27428

    Thanks for reading!
  • closings
    Euphoria and Z's Oyster bar closed several weeks ago.
    • Not Closed...
      Actually Euphoria isn't closed, its repurposed. They stopped doing the lunch/dinner option and have refocused their energy back to a catering and events venue for that space. Creation Cafe below is still available or food.

      From Website:
      "Euphoria has been in operation since November 2008, and during the 2+ years we’ve been in business the segment that is growing most significantly is the event and catering business. This is the reason we have decided to make the change. We will honor all Euphoria offers and gift cards at Creation Cafe."
    • Location
      When is someone going to realize that the location where Z's Oyster Bar was is a TERRIBLE location? Just because you can see it from 465 means nothing. There have been about 2 dozen restaurants in that spot. Tear it down and build an office building or something.
    • Opening?
      Any idea when the new IHOP will be opening, if it is not already?
    • IHOP Jobs
      Where can I apply for the new location by Target? It is not on the website, but outside of the IHOP it says "now hiring".

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    Sponsored by
    1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

    2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

    3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

    4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

    5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.