IBJNews

Developer to move HQ to Carmel, create 25 jobs

Back to TopCommentsE-mailPrintBookmark and Share

A Cicero-based developer of senior housing and care properties will move its headquarters to Carmel later this month and begin hiring an estimated 25 new employees.

Mainstreet Property Group LLC will invest $800,000 to lease and equip 7,120 square feet of office space at 14390 Clay Terrace Blvd., according to firm officials. The company, which currently employs 20 workers, will begin hiring for additional real estate development and management officials later this year.

Founded in 2002, Mainstreet has been one of the fastest-growing companies in central Indiana in recent years. It currently has some $200 million in projects under construction.

In June 2012, Mainstreet launched an initial public offering for affiliated company HealthLease Properties Real Estate Investment Trust that raised $110 million.
Mainstreet, the largest shareholder in HealthLease, develops properties for the REIT’s portfolio. HealthLease, which posted revenue of $25 million in 2012, holds 15 facilities in the United States and Canada, with an additional 13 to come after the expected close of a $141.7 million acquisition.

“We’ve had a great run in Cicero … but our growth and the June 2012 launch of our public REIT necessitated us to look at a move,” said Zeke Turner, Mainstreet chairman and CEO, in a prepared release. "Clay Terrace offers a desirable, functional space with a closer proximity to our employees and our partners.”

The Indiana Economic Development Corp. offered Mainstreet up to $325,000 in conditional tax credits and up to $20,000 in training grants based on the company’s current plans. These tax credits are performance-based, meaning the company is not eligible to claim incentives until employees are hired.

In a recent installment of IBJ's "Leading Questions" video series, Turner discussed the risky process of taking HealthLease public, as well as some somewhat unorthodox elements of his management style.
 

ADVERTISEMENT

  • here we go again
    hmm...that's about $20,000 per job....and that assumes they are real....another "rob from the poor, give to the rich plan"
  • Fiduciary Responsibility
    Apparently any utterance of the word "jobs" sparks a Pavlovian response from IEDC to open their wallet. Funny that the GOP has no problem with this any more, after years of grousing when a Dem was governor.

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:
 
Subscribe to IBJ
  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

ADVERTISEMENT