11,075 SF BUILDING FO SALE 11,075 SF BUILDING ... - …fhra.org/UserFiles/5745 Lawton Loop E. Dr. -...

11,075 SF BUILDING FOR SALECALL FOR OFFERS5745 Lawton Loop East Drive, Lawrence, IN 46216

Located in the historical Lawton Loop area of Fort Benjamin Harrison, the building was originally built in 1908 as the Fort Benjamin Harrison Army Base PX (Post Exchange store) and featured a basement gymnasium for soldiers. When a new PX was built on 56th Street, the building was converted to the non-commissioned officers’ club. The former PX building is now available for sale or development as possible restaurant, retail, or office property.


From BRAC to Back... The Redevelopment ofFort Benjamin Harrison

Fort Benjamin Harrison Army Base was established in 1903 and was named after the 23rd President of the United States. When the base closed in 1995, community leaders knew they had challenges ahead and they met them with enthusiasm and careful planning.

Today, The Fort is a vibrant residential, office, retail, and business community that is widely recognized as the model for reuse and redevelopment of a military installation.

Already a destination, Fort Benjamin Harrison continues to redevelop and is nearing its final leg in its journey toward the finish line.

1992

2015

FOR MORE INFORMATION:

Freddie BurrusExecutive Director

Fort Harrison Reuse Authority

Phone [email protected]

www.fhra.org


BUILDING SUMMARYBuilding Size: 11,075 square feet

Acreage: 0.787 acres

Year Built: 1908

Foundation: Concrete

Construction: Brick & Wood

Walls: Brick

Stories: Two (2) including basement

Ceiling Height: 8’ & 10’

Dimensions: 58’8’’ x 92’8”

Zoning: PUD

Building Class: C

Property Class: Historic

Parcel No.: 4038416

Preparations for the Fort Benjamin Harrison military post started in 1903 when appropriations were authorized for the purchase of land to become a military reservation near Indianapolis, hometown of the 23rd president of the United States. In 1906 the post was officially named Fort Benjamin Harrison in honor of the former president.

The subject building is located on Lawton Loop Drive, which forms a horseshoe-shape around the parade grounds named after Major General Henry W. Lawton. Much of the property was purchased by various investors who began to redevelop buildings and property for residential, retail, and office use with the help of the FHRA. The FHRA continues to invest in the Fort area with economic incentives to support infrastructure improvements and future development.

HISTORY



AREA AMENITIES

3 MILE RADIUS

Est. Population 2016 78,615

Proj. Population 2021 81,933

Est. Households 2016 30,388

Ave. Household Income $56,967

5 MILE RADIUS





10 MILE RADIUS





AREA SUMMARY & DEMOGRAPHICS

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

Custom Map

Source: ©2016 Esri.

June 29, 2016

©2016 Esri Page 1 of 1

10 MILES

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1. Subway2. Marsh3. Popeye’s4. Lord Ashley’s Pub5. Garrison6. Panera Bread7. Arby’s8. Culver’s Restaurant9. IHOP Restaurant10. Jockamo’s11. Porter Books & Bread12. Fort Ben Pub13. Rally’s Hamburgers14. Ma Ma’s Restaurant15. Dairy Queen16. Bob Evans Restaurant17. Triton Brewery18. Buffalo Wild Wings19. Cafe Audrey’s20. KFC21. Snafu Saloon22. Orange Leaf23. Steak ‘n Shake24. McDonald’s25. Dairy Queen26. Cugino’s Pizza27. Jimmy John’s

8. Pit Stop Pizza29. Papa Murphy’s30. Hardee’s31. Circle City Pizza32. Starbucks33. Sandra Rice & Noodles34. Church’s Chicken35. Penn Station East Coast Subs36. Bando Restaurant37. Applebee’s38. La Hacienda39. Marco’s Pizza40. Sherwood Cafe41. Gramboli’s Pizza42. Heidelberg Haus Gift Boutique43. Papa’s Pancake House44. Art’s Skillet45. Kroger46. Papa John’s Pizza47. Oasis Jamaican Grill48. Donatoe’s49. M. Tehampa50. Whiskey Business51. Watami Sushi52. Wendy’s53. Taco Bell

1. Star Financial Bank2. PNC Bank3. Fifth Third Bank4. First Financial Bank5. Financial Center Federal Credit Union6. Old National Bank7. Huntington National Bank8. Regions Bank9. Financial Center Federal Credit Union10. Forum Credit Union11. Chase Bank12. BMO Harris Bank

1. State Park Inn2. Ft. Harrison Golf Resort3. Park Terrace Motel 4. Value Place 5. Baymont Inn & Suites

Restaurants Financial

Lodging

Lawrence Village Amenities Map

Restaurants 1. Subway2. Marsh3. Popeye’s4. Lord Ashley’s Pub5. Garrison6. Panera Bread7. Arby’s8. Culver’s Restaurant9. IHOP Restaurant10. Jockamo’s11. Porter Books & Bread12. Fort Ben Pub13. Rally’s Hamburgers14. Ma Ma’s Restaurant15. Dairy Queen16. Bob Evans Restaurant17. Triton Brewery18. Buffalo Wild Wings19. Cafe Audrey’s20. KFC21. Snafu Saloon22. Orange Leaf23. Steak ‘n Shake24. McDonald’s25. Dairy Queen26. Cugino’s Pizza27. Jimmy John’s

28. Pit Stop Pizza29. Papa Murphy’s30. Hardee’s31. Circle City Pizza32. Starbucks33. Sandra Rice & Noodles34. Church’s Chicken35. Penn Station East Coast Subs36. Bando Restaurant37. Applebee’s38. La Hacienda39. Marco’s Pizza40. Sherwood Cafe41. Gramboli’s Pizza42. Heidelberg Haus Gift Boutique43. Papa’s Pancake House44. Art’s Skillet45. Kroger46. Papa John’s Pizza47. Oasis Jamaican Grill48. Donatoe’s49. M. Tehampa50. Whiskey Business51. Watami Sushi52. Wendy’s53. Taco Bell

Financial 1. Star Financial Bank2. PNC Bank3. Fifth Third Bank4. First Financial Bank5. Financial Center Federal Credit Union6. Old National Bank7. Huntington National Bank8. Regions Bank9. Financial Center Federal Credit Union10. Forum Credit Union11. Chase Bank12. BMO Harris Bank

Lodging1. State Park Inn2. Ft. Harrison Golf Resort3. Park Terrace Motel 4. Value Place5. Baymont Inn & Suites

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Commissary and Post Exchange – Constructed in 2007, this facility is the only full service commissary in the state. Over 35,000 families from across the state travel to this PX/Commissary on an annual basis to shop.

General Emmett J. Bean Federal Center for the Department of Finance and Accounting (DFAS). – Constructed in1953, this 1.6 million square foot building employs approximately 5,000 workers who process payment for all Department of Defense military and civilian personnel, retirees and annuitants, major contractors, and vendors.

Indiana Army Reserve – The newly constructed $48 million 125,597-square-foot training facility houses full and part time Army Reserve employees as well as Marine and Navy units. The 27-acre complex will be used primarily for unit administration, classroom training, vehicle maintenance and storage.

Indiana National Guard – Headquarters for 4 units of the 76th Infantry Brigade, this facility accommodates 85 full-time military and civilian employees and 300 part-time employees on the weekends.

Ivy Tech – This location has 61 classrooms & labs and 5 student lounges spanning approximately 254,000 square feet. Enrollment at this location is approximately 7,100 students for programs specializing in Healthcare.

Lawrence YMCA – Opened in 1991, this facility serves over 13,000 members. It includes 2 indoor pools, an outdoor family pool and spray park, 2 gymnasiums, a computer lab, multiple fitness areas and locker rooms

Monarch Beverage – Within a mile from Ft. Benjamin Harrison, Monarch Beverages has a 547,000 square foot facility on 93 acres along Pendleton Pike which has brought 600 high paying, full benefit jobs to Lawrence.

REDEVELOPMENT AT FORT BENJAMIN HARRISONFollowing the decommission of the Fort Harrison Army Base in 1991, The Fort Harrison Reuse Authority (FHRA) was formed and subsequently purchased the land from the US Army. The FHRA demolished nearly a million square feet of dilapidated, antiquated buildings while repairing the crumbling infrastructure including underground utilities. A Fort Harrison Reuse Plan was developed to provide the framework and vision for a vibrant community while still maintaining the Fort’s historic integrity. The Fort’s development to date is widely recognized by the military and U.S. cities as a success story for the reuse and redevelopment of a vacated military installation. The Office of the Secretary of Defense awarded the Reuse Authority for Exemplary Work in Base Redevelopment. The Indiana Chapter of the American Planning Association gave the Authority two Hoosier Planning Awards – Honorable Mention for Outstanding Project and Outstanding Plan.

Since the base closure, historic homes have been renovated and occupied, hundreds of high quality new homes have been built, and several condominium and apartment projects have been completed. The Benjamin Harrison YMCA and Ivy Tech have made this their home along with many corporate headquarters such as Bloomerang, Blue Ribbon Transport, InDesign, Midwest Model, Monarch Beverage, Schneider Engineering. In addition, the City of Lawrence offices and the Greater Lawrence Chamber of Commerce have relocated to the Fort. The Indianapolis-Marion County Public Library is scheduled to build a new 25,000 square foot branch facility at the Fort in 2020.

Redevelopment in the Fort Harrison area has also included the addition of significant space for parks and recreation facilities as well as important placemaking elements including green space initiatives for walkability, bicycling, running, and community gatherings. The Fort is also home to the 1,744 acre Fort Harrison State Park offering nature’s best including; walking, hiking, horseback riding and biking trails. The Fort Golf Resort is also located in the State Park and offers a world-class Pete Dye redesigned golf course.

AVERAGE DAILY TRAFFIC COUNT


MAJOR AREA ORGANIZATIONS

Custom Map

Source: ©2016 Esri.

June 29, 2016

©2016 Esri Page 1 of 1

7,712 VPD

27,392 VPD

5745 Lawton Loop East Drive


SITE PLAN


TERMS OF SALEInterest Offered: A 100% fee simple interest in 5745 Lawton Loop East Drive, Lawrence, IN (the “Property”). The Property is offered free and clear of any existing mortgage. Property is offered As-Is.

Sale Price: The Property is being offered to market-oriented buyers without a listed asking price.

Property and Market Tours: Registered prospective buyers are only permitted to visit the Property by appointment. Representatives of the Fort Harrison Reuse Authority will be available to provide a scheduled tour of the Property prior to submittal of proposals to purchase the Property.

Due Diligence Period: FHRA will allow buyer to access and inspect the Property and the seller’s records for the Property during a reasonable due diligence period, after the buyer and seller agree on terms. All costs and expenses incurred by the buyer in conducting such inspections will be the responsibility of the buyer. Both parties shall agree to fully cooperate with each other in their respective efforts during the due diligence period.

Closing: 30 days from completion of the due diligence period.

Payment Terms: The purchase price shall be paid in its entirety in cash at the time of closing the sale.

Buyer Interviews: All buyers will be interviewed to ensure that they have the proper background, resources, and interest to acquire, redevelop and manage the Property successfully.

Environmental: The latest Phase I Environmental Site Assessment (ESA) was performed in 2014. Based on the findings of this ESA, the assessment revealed no evidence of recognized environmental conditions in connection with the Property. Please note that the Buyer will be responsible for obtaining their own environmental testing.

Offer Deadline: All offers must be received no later than 5:00 p.m. EDT on September 1, 2016. Offers received after 5:00 p.m. EDT are at the discretion of FHRA as to whether or not they are considered. The outside should be clearly marked: “OFFER FOR PURCHASE – PX BUILDING” to Freddie Burris, Executive Director, Fort Harrison Reuse Authority, 9120 Otis Ave # 200, Indianapolis, IN 46216.

Rejection or Acceptance of Offers: FHRA reserves the right to reject any and all submissions with or without cause. The award of any contract as a result of this Offer shall be at the sole discretion of FHRA.

Offers of purchase shall include the following:Purchase Offer: A proposed acquisition price for the Property along with:

• Evidence of the Buyers capacity to finance the purchase and redevelop the Property for your intended use• A full description of any financial incentives, if any, to be requested from the FHRA

Purchase Terms: A summary of the purchase terms shall include, but is not limited to proposals for the following:• Due diligence period• Earnest Money Deposit• Contingencies (if any)

Redevelopment Description: A summary of the proposed redevelopment for this Property including:• Description of intended use for the building• Description of the planned architectural improvements• Anticipated plan for both vehicle access and parking• Name of the anticipated tenant, if known, and a brief description of their operations• Estimated total cost of redevelopment• Long-term ownership plans for the Property

Schedule: A proposed timeframe for the implementation of the redevelopment. The schedule should include time to:• Obtain financing• Complete full civil and architectural construction planning• Secure permits and approvals• Prepare the site, start and complete all phases of construction.

11,075 SF BUILDING FO SALE 11,075 SF BUILDING ... - …fhra.org/UserFiles/5745 Lawton Loop E. Dr. -...

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