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Real Estate & Retail

Roughly $4.5M in projects near Greenwood's airport ready for takeoff

July 19, 2016

Two commercial projects totaling nearly $4.5 million—one new construction and the other a renovation—are slated to add to the buzz surrounding Greenwood Municipal Airport.

County Line Properties, an entity of Indianapolis-based Centre Properties, is spending $1.8 million to construct a 24,000-square-foot office/warehouse building east of Airport Parkway and south of County Line Road.

South of the airport and north of East Main Street, a group led by Oaken Barrel Brewing Co. ownership is purchasing the strip center housing the restaurant and plans to make $2.6 million in upgrades.

With the opening last month of a Costco supercenter at County Line Road and Emerson Avenue, in addition to the expansion of airport facilities and improvements to nearby infrastructure, Greenwood officials say they’re seeing more interest in the area from developers such as Centre Properties.

“Proximity to Indianapolis and the Greenwood airport, established retail anchors and recent traffic improvements make the location highly desirable for a variety of businesses,” said Stephen Huddleston, an attorney for County Line Properties, in a prepared statement.

County Line Properties plans to build a total of five buildings on 13 acres within the Indiana-American Office Parke. Tenants committed to the first building include engineering and surveying firm Projects Plus Inc. in Greenwood and Enterprise Real Estate Services LLC, currently located on the south side of Indianapolis.

Meantime, owners of Oaken Barrel and Franklin-based Bemis Group are partnering to refurbish the 28,800-square-foot Vista Village retail center at 50 Airport Parkway.

As part of the renovation, the group is changing the name of the strip center to Airport Parkway Plaza, to highlight its proximity to the airport.

Plans call for updates and additions to the building’s façade, parking lot and curb improvements, new landscaping and signage, and a new front patio dining area for Oaken Barrel.

Founded in 1994, Oaken Barrel is Indiana’s second-oldest craft brewery.

“Greenwood is our home, and this is where we want to be,” Oaken Barrel owner Kwang Casey said in a press release. “This project will allow Oaken Barrel to remain in Greenwood—and thrive in Greenwood—for many years to come.”


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