Closeout chain sets sights on Carmel: 'Everybody likes to save a buck'

June 12, 2013
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The growing Ollie’s Bargain Outlet retail chain has set its sights on Indiana, with plans to open five stores in the state this year.

Pennsylvania-based Ollie’s has signed leases for locations in Carmel, Anderson, Kokomo and Fort Wayne, said Jerry Atland, the firm’s vice president of real estate. It is still looking for a site in Indianapolis—likely on the south or east side, Atland said.

It now operates more than 140 stores in 13 states.

Founded in 1982, the company says it is one of the country’s largest sellers of closeout and salvage inventory. Think Big Lots with an emphasis on brand-name merchandise.

Ollie’s product mix varies from week to week, Altand said, giving customers a reason to visit often. He said the stores’ flooring and book selections are particularly popular.

The Carmel location, at 13670-13672 N. Meridian St., is expected to open in October. The 25,000-square-foot space (formerly home to a clearance furniture store) is undergoing some interior remodeling.

Altand said Ollie’s is drawn to “good sites on busy roads” like Meridian/U.S. 31. The “value-oriented” retailer was not deterred by Carmel’s upscale demographics.

“Today, everybody likes to save a buck,” he said.

Ollie’s typically hires 40-50 employees to work at a store, Altand said.

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  • JT's
    There is also another Salvage type store, near Brookville Road and 465, called JT's Warehouse. Dollar Store + Damaged / Salvage Store + Harbor Freight. Very eclectic selection and some genuine bargains. I did pass on the expired and water damaged boxes of Triscuts, however. ;)
  • Great Store with Great Prices
    I have been to several of their locations in Pennsylvania and always go in for 1 item and leave with a basket full of things. I'm very happy they decided on Indiana, now if only they would put the other store in eastside.

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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