Local industrial sector ‘healthier than it’s ever been,’ expert says
The red-hot Indianapolis industrial real estate sector is nearing all-time records in vacancy, construction and absorption, newly-released market reports obtained by IBJ show.
Mickey Shuey
Articles
Pacers don’t expect new naming-rights deal for fieldhouse until 2020
Pacers Sports & Entertainment hopes to pin down a new multimillion-dollar sponsorship deal before the first phase of a $360 million renovation to the venue begins next summer.
Ambrose rejects city’s $6M offer for GM stamping plant site
The offer came during a 40-minute meeting at Ambrose’s headquarters on Monument Circle, at which the two sides discussed their ongoing dispute over the city’s insistence that it acquire the 91-acre property, using eminent domain if necessary.
Ambrose files notice to sue city, says it has suffered at least $30M in damages
Ambrose Property Group says it intends to accuse the city of slander of title, defamation, tortious interference, fraud “and any and all other relevant tort claims.” The city contends it has acted properly.
Developer of firehouse project in Butler-Tarkington eyeing start by year’s end
Third Street Ventures has received permits for nonstructural interior demolition of the former fire station near 56th and Illinois streets, but it hasn’t yet firmed up the building’s commercial use.
Council committee approves TIF designation for Twin Aire site
A City-County Council Committee on Monday recommended approval of a new tax-increment financing district for the Twin Aire neighborhood, which could lead to development opportunities in an area that will soon be home to the city’s new criminal justice complex.
Emails: Ambrose exited Waterside project 2 weeks after city rejected request for more funding
The Indianapolis-based developer asked the city for an increase of more than $10 million to its incentive package. But following meetings and email exchanges, city officials rejected the request, calling it “not feasible.”
Brokers say downtown dining scene hopping despite high-profile closures
A host of big-name restaurants has closed downtown over the past year amid financial struggles and disappointing sales.
Ambrose says city making it ‘impossible’ for firm to sell Waterside land
Ambrose Property Group said it still plans to find a buyer for the former General Motors stamping plant site, despite an ongoing—and escalating—dispute with the city of Indianapolis about control of the land.
IHPC members pan design of proposed 22-story addition to Morrison Opera Place
Members of the Indianapolis Historic Preservation Commission on Thursday said they would be hesitant to support the design for the proposed $60 million, addition. One even called it a “brutal proposal.”
Williams Comfort Air acquires $3.3M building in Lawrence for new HQ
A longtime Carmel-based heating, cooling and plumbing company is relocating its headquarters to an industrial building it purchased in Lawrence.
UPDATE: Transportation contractor plans $11M headquarters on southeast-side
Milestone Contractors LP received approval for incentives from the city of Indianapolis tied to an effort to build a 25,000-square-foot office building and 52,000-square-foot garage in Beech Grove.
Italian restaurant to open in old Nook space
Pomodoro, owned by several investors, will focus on southern Italian dishes and will be “much more simple” than Vassallo’s previous venture, which closed in June.
New Jersey firm buys massive Amazon facility in Greenwood for $81.5M
Holmdel, New Jersey-based Monmouth Real Estate Investment Corp. bought the 615,747-square-foot building at 1151 S. Graham Road from local firm Scannell Properties earlier this month.
More than 360 homes planned for two subdivisions on southeast side of Indy
Indianapolis-based Westport Homes Inc. plans to ask the city’s Metropolitan Development Commission for approval to rezone two tracts of land for two subdivisions totaling 155 acres.
With 17 hotels in downtown pipeline, experts doubt they’ll all make it
If all of the plans move forward, downtown would see an unprecedented deluge of new rooms. But developers and lenders are fretting over whether the market can support them.
Ambrose says city can’t use eminent domain to buy GM stamping plant site
The development firm scrapped its plans last month for a $1.4 billion mixed-use development at the former GM stamping plant site on the west edge of downtown. That led the Hogsett administration to say it will take legal action if necessary to buy the land.
UPDATE: Marion County reschedules canceled tax sale for early 2020
The sale was scheduled to take place Thursday and Friday but a clerical error forced the Treasurer’s Office to cancel the event. Nearly 1,200 parcels with minimum bids totaling some $6 million were to be auctioned and will now be available at the rescheduled sale in February—unless the owners pay their delinquent taxes.
Managers planning changes after winning city golf course contracts
Changes are in the works for several city-owned golf courses, after the Indianapolis Parks Department agreed to new, 10-year management contracts that are awaiting approval from the City-County Council.
Two-block office project by Methodist finally moving forward
The 4.5-acre site catty-corner to the downtown hospital complex is earmarked for a 250,000-square-foot office building and seven-level parking structure, to be connected by a skybridge. It also would include a grocery store.