Downtown Coca-Cola building for sale
On July 31, 2015, the Indianapolis Public Schools (IPS) announced it was planning to sell an Indianapolis landmark: the former Coco-Cola bottling plant on Massachusetts Avenue.
According to a news item of the same date, the property, which comprises 11 acres and multiple buildings, is described as “prime real estate” by Ed Rudisell, who is co-owner of the Black Market restaurant.
Rudisell is one of a number of business owners who have seen growth at the eastern end of Massachusetts Avenue in recent years, though the increase there has been much less than at the western end. Businesses at the west end of the street get much more of the all-important foot traffic.
Catherine Esselman, the manager of Real Estate Development for downtown Indianapolis, agreed with others' observations, noting a lot of interest has already been shown in the property. She says the building could be used for a mixed-use development, residential units, commercial purposes, or offices.
The school district is attaching some stipulations to the sale to insure the buyer will work to have a positive impact on the neighborhood, the city, the nearby properties, and IPS itself. One such stipulation is the purchaser needs to demonstrate an ability to increase the economic wellbeing of the area.
IPS officials could work with brochure printers to create a booklet describing the building for the use of potential bidders.
According to a news item of the same date, the property, which comprises 11 acres and multiple buildings, is described as “prime real estate” by Ed Rudisell, who is co-owner of the Black Market restaurant.
Rudisell is one of a number of business owners who have seen growth at the eastern end of Massachusetts Avenue in recent years, though the increase there has been much less than at the western end. Businesses at the west end of the street get much more of the all-important foot traffic.
Catherine Esselman, the manager of Real Estate Development for downtown Indianapolis, agreed with others' observations, noting a lot of interest has already been shown in the property. She says the building could be used for a mixed-use development, residential units, commercial purposes, or offices.
The school district is attaching some stipulations to the sale to insure the buyer will work to have a positive impact on the neighborhood, the city, the nearby properties, and IPS itself. One such stipulation is the purchaser needs to demonstrate an ability to increase the economic wellbeing of the area.
IPS officials could work with brochure printers to create a booklet describing the building for the use of potential bidders.