HISTORIC STUTZ BUILDING
STUTZ AERIAL VIEW
SomeraRoad acquired the 1912 building at the beginning of 2021, just recently beginning to redevelop the building into a multidimensional live-work-play atmosphere. The developer is investing $100M to revitalize the century-old building, with Phase One restorations to include: new windows, elevators, entrances, HVAC, electrical and plumbing infrastructure, and major façade repairs, including a complete restoration of the historic archway on Capitol Avenue.
“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 are transforming 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.”
Once complete, the multi-year adaptive reuse project will encompass 290,000 square feet of office space for companies of all sizes, starting at 3,000 square feet for turnkey suites. Construction of Phase One is now underway, with most of the work expected to be complete in 2023.
BUILDING HISTORY
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1911
The Stutz Bearcat, built by Harry Stutz in just 10 days, finishes 11th in first-ever Indianapolis 500.
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1912
Stutz breaks ground on a modern factory to produce 500 Stutz racing vehicles per year.
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1916
The company rebrands to The Stutz Motorcar Company of America.
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1940
Eli Lilly acquired the Stutz Factory, operating it as a paper packaging facility until 1982.
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1993
Local developer/artist Turner Woodard acquires the vacant building to save it, transforming the factory into a haven for artists and creatives.
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2021
SomeraRoad acquires the Stutz Factory to redevelop it into a world-class creative office destination.
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
Founded in 2016 to take an entrepreneurial and creative approach to value-add real estate, SomeraRoad has since evolved into a diversified, vertically integrated platform with a reputation for solving complex problems, becoming local experts, and aggressively executing business plans. The fast-growing company remains entrepreneurially nimble and passionate about executing our various strategies nationwide. Today, we focus our efforts across six categories: Value-Add/Opportunistic, Opportunity Zone, Micro-Neighborhoods, Ground-up Development, Debt Investing, and Net-Lease/Income-Producing. Headquartered in Nashville and New York City, the company has additional offices in Pittsburgh, Indianapolis, Kansas City, Cleveland, and Austin. Since its inception, SomeraRoad has executed more than $2.2 billion in transactions over 70 unique markets across the country.
