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Cabela's puts Greenwood property up for sale

IBJ Staff
October 7, 2009
Keywords
Commercial Real Estate, Greenwood, Johnson County, Real Estate & Retail, Regional News, Retail, Retail Development, Retailers
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Cabela’s is selling the land on which it had planned to build a store in Greenwood.

The Sidney, Neb.-based outdoor-recreation retailer has retained Hilco Real Estate LLC of suburban Chicago to sell the 96-acre site at County Line Road and Interstate 65, Hilco said Tuesday. No asking price was disclosed.

Cabela’s announced in July that it would no longer pursue plans to build a 125,000-square-foot store at the site that would have anchored a development including at least two hotels, a water park and upscale restaurants.

Cabela’s cited economic reasons, including a challenging retail environment, for its decision to scrap the project.

In marketing the site, Hilco cited a retention pond, installation of sewer lines and the availability of electricity as improvements already made to the property. In addition, Graham Road to the east of the property is being expanded to five lanes, and will grow to seven lanes at County Line Road.

“In many ways, this is a turn-key solution for developers who want to piggyback on the development that has already taken place in this sub market,” Josh Joseph, a senior vice president of Hilco, said in a written release.

The city of Greenwood had planned to issue $18 million in economic development bonds, with Cabela's guaranteeing repayment to get the project off the ground.
 

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  • Disappointed
    Teresa DenienNovember 5, 2012 12:15 AM
    My husband and I were very disappointed when Cabelas pulled out,It would be a great place ,we don,t have anything that nice close to Indianapolis and our property practicly was right next to it, so that was rather disappointing. It sure dropped the value of our little 2 acres. Sure wish they wuold change there mind. There were a lot of people excited about Cabelas, including a lot of people in Ky, were waiting for it.
    Reply to CommentFlag Comment

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