INDIANAPOLIS—McNamara Florist has just acquired a 176,000 square-foot industrial building on 7.3 acres at 1853 Ludlow Ave. in Indianapolis. The Indiana firm plans to move its headquarters from suburban Fishers into the new site, which it will renovate extensively and then occupy in the first half of 2016. The company currently leases 58,000 square feet at the Fishers site and employs 120 people. Seventy of these positions will relocate to Indianapolis.
“We are excited and proud to move back into the heart of Indianapolis, as well as contribute to the revitalization of the near eastside,” says McNamara president and chief executive officer Toomie Farris. He has been with the company since 1980 and in 2007 acquired it from Sun Capital. “The building has been vacant for several years so renovation and occupancy will bring stability and stimulus to the area.”
DTZ senior managing director Bill French and associate vice president Grant Lindley represented McNamara in the transaction. Financing for the acquisition and construction was provided by First Internet Bank. Premier Capital Corp. coordinated a SBA 504 loan. April Hensley of Leech Hensley Architects will provide architectural services and Kort Builders will serve as the general contractor. McNamara also received a LISC façade improvement grant, which it will use to improve the exterior appearance of the building.
“Assistance is critical for such a project to become a reality,” Farris adds. “We are particularly proud of our relationship with Premier, which helped arrange Small Business Administration supported financing for the 2007 acquisition of McNamara, and now is helping us grow the company by providing counsel on the best financing options for a small local business.”
McNamara currently operates nine retail stores in Central Indiana and a six acre greenhouse/nursery in Ft. Wayne.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
