IBJNews

Developers finish first project, shift focus to downtown deal

Back to TopCommentsE-mailPrintBookmark and Share

Developers Drew Loftus and Kyle Robinson are on the cusp of completing that ever-important first project and are ready to move onto another—this one downtown.

The two bought a trio of vacant, connected buildings at 6334 Westfield Blvd. in Broad Ripple early last year and are nearly finished converting them into 9,000 square feet of office space.

Set to open in July, the Broad Ripple project, dubbed Rockdale, has attracted two tenants, not counting the pair’s Loftus Robinson Development firm. They are BlumLux, a jewelry and watch designer, and the Reliant Partners Commercial Realty brokerage.

Loftus, 27, and Robinson, 30, added a second floor to one of the dilapidated buildings to create a traditional feel with open ceilings and concrete floors.

The space ultimately could appeal to younger, tech-type entrepreneurs who prefer older, renovated buildings to traditional office space that loops the city north side near Interstate 465.

“There’s a big demand for that right now,” Loftus said. “And it’s along the Monon [Trail], too.”

For Scott Lindenberg, a founder and principal of Reliant Partners, that type of space is hard to find in Broad Ripple. His firm will move from Carmel to 1,600 square feet of space in Rockdale on Aug. 1, to be closer to clients in downtown Indianapolis.

“It’s a way underserved market for good office space,” Lindenberg said of Broad Ripple. “It’s a needed niche in the market, period.”

The buildings housed at various times a boat engine repair shop, a veterinary clinic and a pet supply store. The southernmost of the three buildings is believed to be at least 100 years old.

Loftus Robinson Development is asking $26 per square foot for the space, which includes nearby parking. Overall, the pair sunk about $1.6 million into the project—or about the same amount they plan to invest in their next development.

In March, they purchased the building at 702 N. Capitol Ave., which formerly housed an ADT call center, and have landed a well-known architectural and design firm, Rowland Design, as its tenant.

REW 702 N Capitol rendering 15colPlans for the building at 720 N. Capitol Ave. include adding a second floor to the structure. (Image courtesy Rowland Design)

Rowland Design Inc. plans to move from its current digs in Lockerbie Square at 701 E. New York St. in October to the building on North Capitol, where it will take the entire 11,200 square feet.

The building now is just 6,500 square feet. But like their Rockdale project, Loftus and Robinson plan to add a second story to the structure.

Even with the second level, the building still will be smaller than Rowland’s current space of 17,000 square feet. But the firm’s move enables it to tailor the space to better meet its needs, said Eric Rowland, a firm principal, whose mother Sally founded Rowland Design in 1968.

The firm has been at its current space in Lockerbie for more than 20 years. In the meantime, the advent of electronic renderings has reduced the need for library and warehouse space to store paper binders, Rowland said.

“We’re looking to reduce our lease costs not increase them,” he said. “It largely recognizes how the business has changed since 1992.”

Rowland Design plans to move the building’s entrance from North Capitol Avenue south to face the Cultural Trail, which runs parallel to the building. Bicycles will be available for employees to use during the lunch hour, Rowland said.

An environmentally friendly renovation of the building could help Rowland Design achieve silver certification through the Leadership in Energy and Environmental Design, or LEED, program.

Loftus Robinson and Rowland Design have an existing relationship. Eric Rowland designed the Rockdale project for the development team.

“The wanted to do a new office, and it just made sense for us to work together,” Loftus said.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
thisissue1-092914.jpg 092914

Subscribe to IBJ
  1. Here are a few candidates for this new group, "ripped from the headlines." First up, that bizzaro State Senator Brent Waltz; secondly, the unethical Todd Huston, and his contractual arrangements scheme; Finally, but not least of all, the dishonorable Eric Turner. What sayeth you Greg Zoeller?

  2. Good day. I can't hide this great testimony that take place in my life I will love everyone to know it and be partaker that is why I always place it on answer, I am Mrs,Natalie Cuttaia by name, I live in Texas, United State Of America, I want to thank (Mr.Bruce Brandon) for his kindness upon my family life. I never knew that there is still nice lender like this on internet and earth here. Just some Months Back, I was in search for a loan of $100,000,00 as I was running out of money for feeding and rent. I was scammed $6,800 Dollars and I decided not to involve my self in such business again but a Friend of my introduced me to a loan firm due to my appearance and doings. And I told him that I am not interested of any loan deal anymore but he told me that there is still a nice lender who he will recommend me to, and I made a trial and I am most grateful lucky am I today, I was given a loan amount of $100,000.00usd, by this great Company (Bruce Brandon Loan Company) managed by (Mr.Bruce Brandon) If you are in need of a genuine or legit loan or financial assistance and you can be reliable and trusted of capable of paying back at the due time of the funds I will advice you to, contact him via: ( bruce.brandon071@gmail.com ) And you will be free from scams in the internet. All thanks to Mr.Bruce Brandon You are the one who remove me and my family out of poverty. The reason why i am doing this is that, i promise Mr.Bruce Brandon that if i truly got my loan, i will advertize his company and bring customers to his company. Contact him via ( bruce.brandon071@gmail.com )for the Loan you have been looking for..

  3. Hello, We are firm Organization formed to help people in needs of helps,such as financial help. So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email mrsroseberrywilkinsfunds.usa@gmail.com So do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more. Please these is for serious minded and God fearing People. Your Name: Loan Amount: Loan Duration: Valid Cell Phone Number: Thanks for your understanding to your contact as we Await Regards Management Email:mrsroseberrywilkinsfunds.usa@gmail.com

  4. The question is, where could they build a new stadium? It seems in the past year, all the prime spots have been spoken for with potential projects. Maybe in the industrial wasteland area a block past Lucas Oil? I think it needs to be close to the core, if a new stadium is built.

  5. Aldi is generally a great shopping experience. Still, I'm sure YOU wouldn't want to shop there, which I consider a positive.

ADVERTISEMENT