Strongbox, a commercial development and construction management company, plans to spend $7 million to tear down a quarter of the existing store and then add a second retail building to the site.
UPDATE: Church buys former Marsh in Broad Ripple for $7.6M, plans Midtown campus
The sale of the 6.6-acre property included the 57,000-square-foot store on Keystone Avenue. Traders Point Christian Church plans to create an 800-seat auditorium and spaces for children and teens.Read More
Fresh Encounter Inc. purchased 15 former Marsh Supermarkets locations in 2017 and renamed all but one of them Needler’s Fresh Market. Now, the Geist location is closing for good.
Urban Air Adventure Park has leased 34,000 square feet of a building left vacant in 2017 by Marsh Supermarkets.
Jane Pauley Community Health Center plans to fill about a third of the space, which was vacated by defunct grocery chain Marsh Supermarkets in May 2017.
Since the grocer bought seven former Indianapolis-area Marsh stores last July, it has reopened only a three.
Tens of millions of unsecured claims will go unpaid when the Indianapolis-based grocery chain completes its liquidation in bankruptcy court.
The Cincinnati-based grocery chain instead is opting to renovate a much smaller existing grocery across the street from where the proposed store would have been built. The decision leaves a massive hole for Kite Realty Group to fill in Fishers Station shopping center.
The Marsh closed in April 2017 as the grocer teetered toward bankruptcy. Meanwhile, Aldi is on a tear with its plans to modernize existing stores and open new ones.
The newly created moniker is a nod to the Needler family of Findlay, Ohio, third generation grocers. The former Marsh stores are owned by Michael Needler Jr. and his sister, Julie Needler Anderson.
The Hogsett administration plans to use federal grant funding to stimulate the development of one or more grocery stores and help eliminate food deserts.
Kroger said it will first focus on reopening seven of the stores, spending $20 million on renovations.
Rather than featuring long, tall aisles like traditional groceries, the new-format stores featured a courtyard in the center with a dozen “boutiques” around the perimeter, each selling a certain category of goods.
Sales to liquidate inventory at the 18 stores that weren’t sold at auction to other grocers this week could last until early July, said a Marsh spokesman.
Under the agreement, prospective store buyers Kroger and Fresh Encounter would be able to operate pharmacies at the locations much sooner than rival CVS expected.
CVS wants to prevent buyers from operating pharmacies. Lockerbie Marketplace's owners say Fresh Encounter has failed to demonstrate it has the financial wherewithal to "fully perform" under the Marsh lease it wants to take over in that shopping center.
For decades, Marsh Supermarkets has had a lock on the downtown grocery market. Proposed store sales disclosed Tuesday, combined with the impending opening of Whole Foods, set the stage for three-way showdown.
The 26 stores that the Kroger and Fresh Encounter chains have agreed to acquire span Indiana, as well as four cities in Ohio. Here’s the whole list.
The Fishers-based company would not provide details on the offers, which it is evaluating with creditors. The fate of its 44 remaining stores likely will be determined next week.