Thompson Thrift Retail Group Sells Hotel Pad within $60 Million Mixed-Use Development near Indianapolis

Thompson Thrift | April 27, 2020

Thompson Thrift Retail Group Sells Hotel Pad within $60 Million Mixed-Use Development near Indianapolis
Thompson Thrift Retail Group (TTRG), a wholly owned company of Thompson Thrift, announced today that it has closed on the sale of the hotel pad at The Stations, a $60-million mixed-use development in the Indianapolis suburb of Fishers, Ind. The buyer, Indiana-based Dunn Hospitality, will spend $20 million to build a 145-room Courtyard by Marriott that it plans to open in the latter half of 2021. The Courtyard will feature meeting space, expansive fitness facilities, an indoor pool, room service and a bistro bar offering sit-down meals throughout the day. The new hotel is expected to accommodate the expanding business and leisure travel needs of the rapidly growing Fishers suburb. "The fundamentals of this area continue to be compelling for a wide variety of uses," said Eric Wojak, development director for Thompson Thrift. "Our adjacent mixed-use development, Fishers District, has quickly become a destination of choice for consumers, tenants and travelers seeking quality dining and retail options, walkable amenities and convenient access to the nearby interstate. Having a hotel for the business traveler located behind the future office building is a great fit for the project."

Spotlight

In 2011, some 43.6 billion U.S. dollars worth of commercial buildings were put in place in the United States. At around 3.7 percent, the San Francisco metropolitan statistical area in California was the U.S. metro area with the lowest retail vacancy at the end of 2011. In 2012.

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Spotlight

In 2011, some 43.6 billion U.S. dollars worth of commercial buildings were put in place in the United States. At around 3.7 percent, the San Francisco metropolitan statistical area in California was the U.S. metro area with the lowest retail vacancy at the end of 2011. In 2012.