Stores and restaurants will occupy more space than originally envisioned for the Fashion Mall redevelopment.
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The Reis-Nichols building is under construction at the former site of a TGI Fridays restaurant south of the Fashion Mall.
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An affiliate of the automotive lubricant company acquired the two-story building near the Fashion Mall at Keystone last year for $9.5 million.
Over the next month, the Fashion Mall at Keystone will welcome three stores that are new to Indiana.
The 1.08 million-square-foot complex is expected to sell for significantly less than the $150 million it fetched in 2019, real estate sources told IBJ.
Plans call for up to 100,000 square feet of Class A office space, as well as a new standalone building, a small plaza, and new restaurant and entertainment offerings.
Saks will end a 21-year run at The Fashion Mall at Keystone later this year, mall management announced Thursday.
Founded by the husband-and-wife team of Jason and Gorjana Reidel, the chain began its expansion in 2017 and now counts more than 60 stores nationwide.
After closing its Fashion Mall at Keystone location, West Elm is preparing for Nora Plaza opening in April.
The closure of the Fashion Mall location comes less than two years after the Mimi Blue restaurant in Carmel ceased operations. The locally owned business has one remaining restaurant.
The 5,600-square-foot restaurant at 8702 Keystone Crossing is Doc B’s first location in Indiana.
Owner Brooke Magdzinski wrote in an email to customers that she plans to close her boutique near The Fashion Mall at Keystone and stop online sales at 7 p.m. Friday.
The upscale store is set for a spot adjacent to both Saks Fifth Avenue and Louis Vuitton on the first floor of the eastern portion of the mall.
Local developer Keystone Corp. has drafted new plans for its long-simmering Alexander at the Crossing mixed-use project that includes 275 apartment units, plus retail and office space and a hotel. Some nearby residents are opposed to the project for its size and density, as well as for further commercializing 86th Street.
Shoppers can expect the Brown County-based restaurant to open in the Fashion Mall at Keystone in spring 2022.
Sunglass Hut and GameStop have closed their Circle Centre stores. Both retail chains still have numerous other Indianapolis-area stores.
Godiva said the pandemic caused customer traffic to decline at its brick-and-mortar stores, though it will continue to sell its products both online and through third-party retail stores.
This will be the fourth Indianapolis-area location for the fast-casual burger chain, though none have yet opened.
Up to now, the business has primarily served architects and designers in bigger markets. Also this week: Lou Malnati’s, Dave & Busters, Godiva Chocolatier, Nesso, Jiffy Lube.
At least three Victoria’s Secret stores at some of the area’s largest shopping malls have closed permanently as part of the parent firm’s plan to eliminate 251 stores in North America this year.
Louis Vuitton is ranked as the world’s most valuable luxury brand, with a value of $47.2 billion, topping Chanel, Hermes, Gucci, Rolex and others.
Lucky said it plans to close 13 stores and could shutter more during the bankruptcy process.
