Citimark purchases former HHGregg site for $14M

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The huge HHGregg headquarters campus at 4151 E. 96th St. on the Indianapolis and Carmel border has sat vacant since the consumer electronics and home appliances store closed in 2017. That could change as the 27-acre property was recently purchased by Citimark, an Indianapolis real estate firm, for $14 million.

A Citimark spokesman said Feb.18 that no plans have been determined for how the company will redevelop the site. The property includes more than 400,000 square feet of office, industrial and showroom space. HHGregg used the site as its corporate headquarters and for warehousing and distribution. The parking lot has spaces for more than 200 vehicles.

Citimark is considering several options for the property, including using it as flex space for a single user or multiple tenants, warehouse space and last-mile distribution services.

The property fronts the busy East 96th Street business corridor, so Citimark also is considering preserving space for retail outlots.

Citimark, founded in 1982, has acquired, developed, managed and leased more than 20 million square feet of industrial, office and mixed-use properties.

The seller was Throgmartin 96th Street LLC. The Throgmartin family was related to founders Henry Harold and Fansy Gregg, who created the business in 1955.

Colliers Indianapolis real estate broker Alex Cantu assisted Citimark with the purchase. Colliers brokers Jimmy Cohoat and Brian Zurawski are marketing the project for Citimark.


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