HISTORIC STUTZ BUILDING

STUTZ AERIAL VIEW

 

SomeraRoad acquired the historic Stutz automobile factory in downtown Indianapolis in 2021, investing $100M into the thoughtful adaptive reuse of the building, transforming it into a vibrant live-work-play district. Dating back to 1912, the building was restored and reimagined, with Phase I completed in 2023, with future phases that will introduce residential, hospitality, and entertainment uses. 

Built as a manufacturing facility designed for product to flow from the inside out, the building has been historically an introverted character within downtown Indianapolis,” said Jeremy Welu, co-founder of DELV. “By creating more defined entrances and activating the first floor, we transformed the building to take on a more extroverted posture, drawing people from the outside in while still maintaining the rich history and character that makes it so unique.”  

The revitalized Stutz features 290,000 square feet of modern creative office spaces and dynamic, converted alleyways activated by locally and nationally acclaimed food-and-beverage concepts and curated retail shopping. This mix brings new energy to the site while preserving the building’s celebrated industrial character. 

Today the Stutz is home to a growing mix of creative companies, startups, restaurants, and cultural programming. The campus regularly hosts large public events, art fairs, and community gatherings that bring thousands of visitors through the historic factory each year.

 

BUILDING HISTORY

  • 1911

    The Stutz Bearcat, built by Harry Stutz in just 10 days, finishes 11th in first-ever Indianapolis 500.

  • 1912

    Stutz breaks ground on a modern factory to produce 500 Stutz racing vehicles per year.

  • 1916

    The company rebrands to The Stutz Motorcar Company of America.

  • 1940

    Eli Lilly acquired the Stutz Factory, operating it as a paper packaging facility until 1982.

  • 1993

    Local developer/artist Turner Woodard acquires the vacant building to save it, transforming the factory into a haven for artists and creatives.

  • 2021

    SomeraRoad acquires the Stutz Factory to redevelop it into a world-class creative office destination.

  • 2022

    First retail tenants begin occupying the restored courtyard spaces

  • 2024

    Stutz emerges as a cultural gathering place, hosting major public events including BUTTER Fine Art Fair and Epicurean food festival.

DESIGN + CONSTRUCTION PARTNERS

Indianapolis firm DELV Design is the architect of record on the project with New York-based firm S9 Architecture serving as the redevelopment’s design architect. Local construction firm Shiel Sexton is the project’s general contractor. SomeraRoad is working with Merritt Chase on landscape design, R.E. Dimond & Associates on MEP design, Civil & Environmental Consultants, Inc. on civil engineering and Lynch Harrison & Brumleve, Inc. on structural engineering.

OWNERSHIP

SomeraRoad is a commercial real estate investment and development platform with headquarters in New York and Nashville, and additional offices in Austin, Indianapolis, Kansas City, Las Vegas and Tampa. Since its founding in 2016, the firm has taken an entrepreneurial and opportunistic approach to commercial real estate across a wide spectrum of asset classes, geographies, investment products, and risk profiles. At its core, SomeraRoad aims to navigate complex structures, identify market dislocations, craft an asymmetric risk profile, and align its interests with its investors.

SomeraRoad invests in and develops commercial real estate across a variety of product types (office, industrial, multifamily, retail, hotel, condo,  aviation, and other) in 50+ US geographies, and it has transacted on over $3.5B of investments, utilizing over $1B of equity over the course of its history. The firm has evolved into a diversified, vertically integrated real estate platform with a reputation for solving complex problems, becoming local experts, aggressively executing on its business plans, and driving outsized returns.

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