Lids Sports Group has been listed for sale following news that it is moving its day-to-day operations from Zionsville to Indianapolis.
The Zionsville property is owned by Genesco — the former parent company of Lids. The building is currently being listed for sale through Cushman & Wakefield. The company specializes in commercial real estate and has served Indianapolis and surrounding areas since 1918.
The 150,000-square-foot building in Creekside Corporate Park is listed for $18.5 million and includes amenities such as a cafeteria, two ballrooms, a conference center, a basketball court, a game room with a lounge and bar, a walking trail, and an executive terrace on the third floor. The three-story building, built in 2016, sits on 16 acres.
Representatives from Woodland Crossing referred all questions to Cushman & Wakefield who did not return a request to comment.
In February, Genesco, announced in a press release that they were “initiating a formal process to explore the sale of Lids.” Soon after, the company entered into a definitive agreement with Maryland’s Ames Watson Capital LLC and completed the sell. The agreement sold Lids Sports Group for around $100 million, 40 percent less than what Genesco purchased the retailer for in 2004.
Lids began as Hat World in 1995 and was, at one time, Genesco’s most successful subsidiary. As part of a $22 million expansion, Lids moved their headquarters to Zionsville in 2014 and employed around 470 workers. Struggling sales recently led to significant staff reduction and furthered the need to move locations.
Lids Sports Group and Cap Town U.S.A. is comprised of Lids retail, the Locker Room by Lids, Lids Clubhouse and Lids internet business.
Lids is moving to a smaller facility in Woodland Corporate Park on Indianapolis' northwest side.
The new building is 40,000 square feet and located off 71st street and I-465.
Representatives from Lids, Genesco and Ames Watson did not return request a request for further information.