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Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Starbucks closing at Conseco Fieldhouse

May 3, 2010

StarbucksStarbucks plans to close its coffee shop in Conseco Fieldhouse later this month after it failed to come to terms on a lease renewal or a licensing agreement. The chain didn't want to sign a new 10-year deal with uncertainty swirling around the building, a store employee said. But a spokesman for Pacers Sports & Entertainment said it was simply a "business decision" for Starbucks and that the company was given every opportunity to renew. The Pacers organization is lobbying the city’s Capital Improvement Board for a $15 million subsidy to manage the Fieldhouse, claiming they have lost money for years despite keeping all revenues from events at the 18,165-seat venue, along with naming rights and sponsorship dollars. City officials have resisted merely writing a check and are seeking control over Fieldhouse operations. Makes you wonder whether the city would have let Starbucks walk.

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