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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

Large games-oriented bar close to scooping up Circle Centre space

September 23, 2015
Remember Jillian’s, the bar-restaurant on South Meridian Street that also offered bowling, billiards and other old-school games?
 
A similar entertainment venue offering food and drinks plus pursuits such as ping pong, shuffleboard, skee-ball and Pac-Man is close to opening in a spot close by in Circle Centre mall.
 
Several real estate sources told Property Lines that Denver-based Punch Bowl Social will take up to 30,000 square feet of former Nordstrom space along Georgia Street.
 
A spokesman for mall manager Simon Property Group Inc. declined to discuss potential tenants for the space. But the sources said a deal was imminent.
 
Reached by IBJ on Tuesday, Punch Bowl CEO and founder Robert Thompson confirmed the chain hoped to have a deal soon for a space downtown. He declined to divulge the location, but said a lease should be finalized within two weeks. The venue would open by May.
 
“We think it’s a good fit for Indianapolis,” Thompson told Property Lines. “We do a lot of private events and corporate events, and Indianapolis has a lot of conventions. We just think there’s a lot of activity in that section of downtown.”
 
For comparison's sake, the Yard House bar and restaurant that recently opened on the same block at 15 W. Maryland St. took about 13,400 square feet. A Punch Bowl Social that opened last week in Cleveland occupies 27,000 square feet.
 
Thompson launched Punch Bowl in 2012. Besides Denver and Cleveland, it has locations in Detroit, Portland, Oregon, and Austin, Texas.
 
Punch Bowl’s menu offers twists on old standards, including sandwiches, chicken and waffles, soups and salads.
 
Thompson describes the décor as “dirty modern,” combining industrial, Victorian and modern design elements.
 
Punch Bowl would join Yard House and mod-Mexican eatery Nada, which is set to open early next year, in the former Nordstrom space of Circle Centre.
 
Dinosaur Bar-B-Que announced in late August that it had dropped its plans to take the corner space at Meridian and Maryland streets
 
In other Circle Centre news, the Colts Pro Shop on the second floor has reopened. It abruptly closed in January after team merchandising vendor MainGate Inc. lost its contract to Lids Sports Group.
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