Piedra is
latest concept for Fishers-based Archiega Restaurant Group
INDIANAPOLIS, June 4, 2024
/PRNewswire/ -- Thompson Thrift, a full-service nationally
recognized real estate company and one of the nation's leading
commercial real estate developers, announced today it has signed
the first lease at The Union at Fishers District with Piedra, a Mexican restaurant owned and
operated by Fishers-based Arechiga Restaurant Group.
"We are thrilled to welcome Piedra to The Union at Fishers District," said
Ryan Menard, vice president of
development at Thompson Thrift. "Their commitment to culinary
excellence and community engagement aligns perfectly with our
vision for this vibrant mixed-use destination. This partnership
represents a significant step in creating a unique and inviting
gathering place for both residents and visitors."
Piedra will offer upscale
Mexican cuisine in an approximately 5,000-square-foot space with an
outdoor patio area. The location is expected to open to the public
in 2026. The Union location will be the second site for the latest
concept, following the scheduled opening later this year of the
first Piedra in Indianapolis' Bottleworks District.
In total the Arechiga Restaurant Group manages eight concepts in
14 locations across the Indianapolis and Chicago areas, including Verde Flavors of Mexico, Casa Santa and the fast-casual
restaurant concept, Quesa Tacos.
"This latest milestone brings together two great entrepreneurial
spirits in Thompson Thrift and the Arechiga Restaurant Group," said
Fishers Mayor Scott Fadness. "We are
very excited to see The Union at Fishers District come to fruition,
and we celebrate the continued economic opportunity it brings to
our community."
Located near Interstate 69 and 116th Street, The Union is one of
five developments in the expansive master-planned Fishers District
development. The mixed-use development will create a true urban
experience with approximately 60,000 square feet of retail space,
70,000 square feet of Class A office space, a 150-room boutique
hotel, a 250-unit multifamily community and over 800 structured
parking spaces that will provide parking for both residents and
center visitors.
Piedra is the first signed
lease at the project, with three other concepts currently at-lease,
and several additional spaces being actively negotiated. The Union
is expected to break-ground in the first quarter of 2025, with the
first tenants expected to open in late 2026.
Thompson Thrift first began work on the Fishers District
development in 2015 and received a Monumental Award from the
Indianapolis Chamber of Commerce
in 2020 for the first phase.
Once completed, the $750 million
development will span 123 acres and will offer an array of
multifamily, townhome, hotel, office, dining, shopping, and
entertainment options. The five developments will be connected by
well-designed walking paths that will offer residents and visitors
the opportunity to explore the master-planned development on
foot.
Thompson Thrift is a full-service real estate development
company focused on multifamily, ground-up commercial and mixed-use
development across the Midwest, Southeast and Southwest. Along with
its developments in Indianapolis,
the company continues to expand its footprint with eight new
residential developments targeted for 2024, including new markets
in Georgia, Utah and Idaho.
Since its founding nearly 40 years ago, Thompson Thrift has
invested more than $5 billion into
local communities and has become known as a trusted partner
committed to developing high-quality, attractive commercial and
multifamily communities.
About Thompson Thrift Real Estate Company
Thompson
Thrift is an integrated full-service real estate company with
offices in Indianapolis and
Terre Haute, Indiana; Denver; Houston and Phoenix. Three business units drive Thompson
Thrift's success—Thompson Thrift Residential which is focused on
upscale Class A multifamily communities and luxury leased homes,
Thompson Thrift Commercial which is focused on ground-up commercial
development, and Thompson Thrift Construction, a full-service
construction company. Through these business units, Thompson Thrift
is engaged in all aspects of development, construction, leasing,
and management of quality commercial real estate projects across
the country. The company earned national recognition from Energage
as a winner of a 2024 Top Workplaces USA award and five Culture Excellence awards,
the latest accolades that reflect the company's ongoing commitment
to excellence in the community and workplace. For more information,
please visit www.thompsonthrift.com.
Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
jennifer@spotlightmarcom.com
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SOURCE Thompson Thrift