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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

Closing: Flower Factory, Frankey's, McVan's

June 21, 2011

closed signLet's kick off the latest retail real estate roundup with a few notable departures:

  • Flower Factory is closing its massive store in the Greenwood Place Shopping Center along Shelby Street at U.S. 31 in Indianapolis. The chain also has three stores in its headquarters state of Ohio. A going-out-of-business sale has begun, but no word yet on the final day.
  • Frankey's, the Broad Ripple women's specialty boutique, is closing after eight years. The final day for the shop on 912 E. Westfield Boulevard is June 30.
  • McVan's Video Games also is closing its store in Broad Ripple. The small chain based in Fort Wayne opened the shop in early 2009. A closing sale is underway.
  • Square Rootz Deli in Fountain Square has closed. The restaurant opened last summer along Prospect Street across from the Fountain Square Theater.

In more encouraging news:

  • Tiki Bob's Cantina has a new group of owners with plans for a renovation including patio seating and a façade that opens up to Meridian Street. Also planned are a new VIP area and a sports bar for the second floor, said Jason Amonett, who bought the nightspot in March with two partners. The trio also own the martini and cigar bar Subterra Lounge across the street, and are negotiating to replace another nightspot in the neighborhood. The new Tiki Bob's should be ready by mid-July.
  • Charming Charlie, the affordable women's fashion accessories shop, is planning a second central Indiana location, at Hamilton Town Center. The privately held Houston-based chain, which launched in 2004, also has a store at Clay Terrace in Carmel.
  • CVS is planning a new store at the southeast corner of Washington Street and Mitthoeffer Road, across the street from Washington Square Mall. And Chuck E. Cheese's is moving to the strip center on the same corner from a spot along Washington Street just east of Interstate 465.

Elsewhere from IBJ:

And finally:

  • The city is accepting bids for the "beautification" of four downtown railroad underpasses. The work, estimated to cost between $1 million and $2.5 million, would involve the underpasses for Capitol Avenue, Illinois Street, Meridian Street and Pennsylvania Avenue. Bids are due July 12. The bid request does not specify how the underpasses would be improved. Any ideas?
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