Partners Ahead of Schedule on $20M Building

Partners Ahead of Schedule on $20M Building

Norris Equity Partners (“NEP”), a leading private equity firm focused on the smaller end of the middle market, announced plans for the opening of the new Barnes & Thornburg building in South Bend are ahead of schedule with key occupants already moved in and high-quality new tenants confirmed.

Located on Main Street in the heart of downtown South Bend, this five-story office building is the first new construction in the business core of the city in more than 20 years. The project was co-developed by Bald Mountain LLC, Norris Equity Partners, and Great Lakes Capital, with the group investing well in excess of $20 million. Weigand Construction was the general contractor on the construction.

NEP announced the opening of its new office space in the building as did portfolio company Receive Revenue Recovery. The structure’s anchor tenant, global law firm Barnes & Thornburg, opened its new office space in November, as well.

“We are excited to call this new building home,” said Benjamin Norris, managing member of NEP. “In addition to Receive and Barnes & Thornburg, we are honored to share this location with top tier tenants.”

New international fashion company Lou Hansell Co. will make the move from Innovation Park and occupy the fifth floor of the building starting in June 2021. Under the leadership of CEO Pamela Kugel (231-881-6545, pamela@louhansell.com), Lou Hansell designs bespoke luxury garment hangers to protect and preserve carefully curated wardrobe pieces. The company was recently profiled by Forbes.

Java Bowl of Soul, a premier coffee shop that also features hand-crafted bakery goods as well as extensive breakfast and lunch menus, will open Java on Main in June 2021. The coffeehouse will be owned by Hansell, Norris, and local entrepreneur Steve Haines. Hansell controls six Javas located near Bald Mountain in Sun Valley, Idaho and was business partners and close friends with the organization’s late founder, Todd Rippo. Todd’s spirit will be evident throughout the location. Using only fresh-roasted, fair trade beans and offering an inviting atmosphere for all customers, the coffee shop will bring a California cool and casual sophistication to the local area.

South Bend-based Receive Revenue Recovery was acquired by NEP in 2017. Founded in 1999, Receive’s expertise are in providing best-in-class solutions for the accounts receivable recovery market. The company serves the full suite of medical, real estate and financial clients throughout Northern Indiana. Receive’s commitment to a consumer-friendly approach has proven to yield substantial results and positive outcomes for all parties.

With more than 700 attorneys and other legal professionals, Barnes & Thornburg is one of the largest law firms in the United States. The firm has South Bend roots dating back nearly 100 years and currently has more than 65 employees throughout Indiana, including Elkhart, Fort Wayne, and Indianapolis.

“We want to thank South Bend Mayor James Mueller and his administration, the Redevelopment Commission of the City of South Bend, and all of the vendors who are helping us cross the finish line on this project, including Weigand Construction, KTGY Architecture + Planning, Mitsch Design, Harkin Design, and all of the subcontractors,” said Norris. “This is an exciting time in downtown South Bend’s revitalization, and we are honored to be part of this comeback story.”

The Barnes & Thornburg Building represents the latest investment in NEPs growing real estate portfolio of key business locations in Northwestern Indiana. Earlier this year, the firm announced Mirador at 23. Located on the south side of State Road 23, between Gumwood Road and Fir Road, this project offers companies the prime location in the heart of Granger’s booming business and residential district.

Category Business Buzz