Turner Woodard talks saving the Stutz—and then selling the majority share

Twenty-eight years ago, developer Turner Woodard bought the historic Stutz factory complex, which was built in 1911-1912 by Harry Stutz, who founded the Stutz Motorcar Co.

The 400,000-square-foot factory at 10th Street and Capitol Avenue produced cars until 1935, when the Great Depression forced the company to close. Eli Lilly and Co. then used the site for manufacturing.

When Woodard got his hands on it, the complex had been vacant for a decade—but he had a vision to bring it back to life, create a place for companies seeking a creative space and celebrate its auto industry history. And over the years, that vision has made the Stutz a home to artist studios, tech startups and even small manufacturers. 

Last week, Woodard announced he had sold majority interest in the complex to real estate investment firm SomeraRoad Inc., although Woodard and his son have retained a minority interest. 

Woodard talked to host Mason King about his adventure restoring the Stutz, about his decision to sell a majority share and what the new owners have in store for the building.

You can also read more about the sale in this story from IBJ's Susan Orr.