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FISHERS, Ind. (Inside INdiana Business) – Terre Haute-based real estate firm Thompson Thrift Retail Group has completed the sale of the mixed-use development of Fishers District to JVM Realty Corp. in Chicago. Financial terms were not disclosed, although the companies say the dual-brand Hyatt House and Hyatt Place on the 18-acre site was not part of the deal.
Fishers District, located on 116th Street off I-69, includes 105,000 square feet of 100% leased retail space. It also features The Mark in Fishers District, a 260-unit multi-family residential community, which was included as part of the sale.
“The Mark and Fishers District offers an unparalleled investment opportunity in a bustling, high-income suburb of Indianapolis,” said Jay Madary, President and CEO of JVM Realty, in a press release. “With the perfect blend of Class A + residences, upscale retail, and Indy’s best dining and entertainment, The Mark fits perfectly into our portfolio of Midwestern luxury apartment communities.”
Thompson Thrift began development of the Fisherman’s Quarter in 2015. The following year, the company and the city plans unveiled for The Yard at Fishers District, a $ 40 million culinary and entertainment hub. Today, the development includes the Fishers Test Kitchen, a culinary incubator that allows budding chefs to develop new concepts.
“Fisher’s District is a unique and exciting destination that reflects the ingenuity of each of Thompson Thrift’s three business units and a project that we believe will be a lasting asset to the fishing community,” said Ashlee Boyd, Managing Partner of Thompson Thrift Retail Group. “The thriving project is a premier regional destination offering innovative dining, living and entertainment options that match the city’s vision for a development that accurately represents Fishers as one of the best places to live in America. . “
JVM says it will use its internal management and marketing teams to lead the residential component of Fishers District. The company will also employ a national retail services expert to help manage the retail industry.
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