Turner Woodard, Former Stutz Factory Owner, Buys Horton Fan Factory Property In Carmel
Carmel, Indiana (USA) – January 20, 2022 – Turner Woodard announced he has purchased the 80,000 square foot Horton Fan Factory at 201 W. Carmel Drive. The roughly six-acre property is in the heart of Carmel’s central corridor and also has frontage along the popular Monon Greenway. It’s the third property Woodard has acquired in Carmel since selling the Stutz Factory in downtown Indianapolis in February 2021. Other properties include the former Rich Furniture building and the Keltner Business Plaza.
“I find it interesting going from factory to factory after selling the Stutz and now buying Horton. I embrace the real estate concept of ‘adaptive reuse’ and I get a lot of joy out of turning buildings into something unique, when many other buyers would put the wrecking ball to them. Horton has good bones, so I’m excited to save it and lease it up.”
Carmel Mayor Jim Brainard applauded the concept of saving and converting the property into something different in the Carmel real estate market. “As we redevelop our central corridor, we continue to strive to be progressive and innovative in all that we do. By staying fresh and encouraging a diverse variety of business options, we feel we are meeting the needs of our residents, our local small business owners and the many visitors who come to Carmel,” said Mayor Brainard.
The property sits back from the hustle and bustle of Carmel Drive and would be suitable for many different types of business. “We’re going to let the market decide what it could be. We’ve talked about a maker-space concept and possibly a spot for small manufacturing and startup companies. We’ve been approached by last-mile distribution companies who see it as a great location to quick-serve the dynamic Carmel area,” states Woodard. “I’ve also had discussions about the possibility of an auto enclave where car collectors could store, detail, repair and socialize around beautiful automobiles. The Stutz racing team race shop is moving into the property and that’s a cool attraction for visitors to be able to see racecars in various stages of repair and restoration. In the end, the property is unique, and the location is so central, the possibilities are endless,” he adds.
Woodard explains his approach to real estate is simple. “Buy it, light it, clean it, paint it, and lease it,” he states. “Ultimately it will be a pretty cool place. It’s a good property, in a great location, in a great city, so I’m excited to get to work on it. I’m glad the mayor and his team have been supportive of our real estate projects and entry into Carmel,” Woodard says.
After turning the 400,000 square foot Stutz Automobile Factory into one of the country’s first small business incubators in the early 90’s, it’s easy to conceive Woodard will breathe life again into the Horton Fan Factory. “It’s a blank canvas and I intend to make it something unique and special.” Woodard states.
About Turner Woodard and Turner James Investments
Turner Woodard, owner of Turner James Investments, is an Indianapolis native who has successfully carved his niche in “adaptive reuse” opportunities, altering a building or property originally used for one purpose into something new that is productive and beneficial. Turner James Investments is a holding company for the diverse property portfolio and management company that ranges from boutique retail, to unique hospitality, from industrial to warehousing.