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Next Redevelopment in Carmel

Post Date:03/05/2021 8:00 AM

Carmel, Indiana: A Partnership for Tomorrow
City of Carmel

One Civic Square
Carmel, IN 46032

NEWS RELEASE

Date:  March 5, 2021
Contact:  Nancy Heck,
  317-571-2474
Release:  Immediate

Stutz Business Center Visionary Begins

Next Redevelopment in Carmel
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Carmel, IN - Turner Woodard, the former majority owner of the Stutz Business and Arts Center, is now preparing for his next redevelopment project in the heart of downtown Carmel!

In February, Turner, an Indianapolis resident, purchased the former Rich Furniture building in Carmel, 1030 S. Range Line Road, and says he plans to bring the building back to how it was originally designed as a boutique office and retail space.

“I’ve always loved the building since the very first time I walked into it to buy furniture for my Indianapolis office decades ago. It might be the massive atrium, the glass elevator, or the floor to ceiling windows, but the building has always had a unique character and a wow factor,” Woodard said! “During our due diligence, we learned the property was originally designed as a multi-tenant building when it was built in the 70’s and that is our future plan, to create a new office option for Carmel businesses.”

Woodard said he’s excited to add the Arts and Business Center concept he created at the Stutz to the suburbs.

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“I’ve been an Indianapolis guy my entire life,” he said. “However, recently I’ve been spending more time north of 96th Street and it’s been amazing seeing the growth and quality of life in Carmel.”

Woodard and his team have begun work already on turning the former furniture store into Carmel’s newest and unique office property. Woodard plans to move his real estate investment offices from the Stutz into the Rich building this summer. He will also create an Art and Auto gallery on the first floor of the building that will face the Gazebo at Carmel’s Civic Square.

“I’m excited to join the Carmel community and I hope my new Art and Auto gallery will become a great asset for the city. The gallery will feature some of my art, art of local artists and six to seven of my very special cars. We will also be bringing up the old bar from the Canterbury Hotel,” Woodard said.

“We’re very excited to have a visionary like Turner Woodard invest in our community,” said Carmel Mayor Jim Brainard. “This is again a testament to the investments we’ve made in infrastructure and quality of life that then results in investments from the private sector by creative individuals like Turner.”

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Woodard will have between 20,000 and 25,000 square feet of unique office and retail space available for lease. Turner believes the Rich building will become a special environment where businesses of all kinds can thrive!

ALO Property Group Vice President, Brian Bondus, a Carmel resident, represented Turner during the purchase.

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“It’s been a joy working with Turner and exposing him to the growth that’s taken place in Carmel during the last few years. I remember the first day we went out for a tour and Turner was shocked seeing everything happening, specifically the activity around the Monon Trail.” Bondus said. “I’m also excited for Carmel having a new office option in the downtown area.”

Improvements at the building are scheduled to be completed later this summer and Turner plans to begin welcoming new tenants shortly after.

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About ALO Property Group

ALO Property Group is a full service commercial real estate brokerage & consulting company that provides unparalleled support to develop & maintain all of their clients’ business and real estate needs. Over the past decade in the commercial real estate market, their portfolio has included such iconic properties as Regents Tower, College Park, and Woodfield Crossing, just to name a few.
The Latin phrase ALO has many meanings, mainly: nourish, cherish, develop, support, sustain, & maintain. At ALO our customer service philosophy is to go the extra mile to provide a strong connection with our clients and maintain long lasting relationships. It is this strong connection to our clients and our personal drive to reach these goals that makes ALO unique in the commercial real estate market. ALOpg.com


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