Indianapolis has more speculative industrial space under construction than any other market in the Midwest as developers try to capitalize on about four million square feet of tenant interest in the market.
The Re-Development Group Inc. bought a1.6-acre site at New York Street and Highland Avenue last May and will raze three 1960s-era office/warehouse buildings to make way for home construction in 2013.
Insight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North streets. But the fate of the second phase is up in the air because its financing had been tied to a project Insight and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department headquarters.
Omaha-based Berkshire Hathaway Inc., through its HomeServices of America unit, bought a majority stake in the Prudential and Real Living real estate franchises from Brookfield Asset Management.
Expiring leases have prompted at least five major users of downtown office space to assess whether to renew or relocate.
The local developer has agreed to purchase the former Mitchell & Scott industrial complex in the 600 block of College Avenue and is in the process of pulling together a plan for the site.
Teagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from an attempt—since withdrawn—to demolish the structure.
A high-end apartment project and neighborhood retail center are scheduled to break ground soon as the first components of the retooled Fishers Marketplace development at State Road 37 and 131st Street.
Fast-growing Ambrose Property Group plans to develop a $12 million warehouse building on a site in Plainfield that it acquired last month from the FDIC.
Englewood Development has under contract the former Shirley Engraving property at 460 Virginia Ave., where it plans up to 50 apartments, about 5,000 square feet of retail space and an underground parking garage.
DTM Real Estate Services LLC landed management and leasing for Fortune Park buildings 5, 6 and 7 in August, about a year after getting the management contract for a 360,000-square-foot portfolio in Park 100.
Philadelphia-based BPG Properties Ltd., which owns the building at 8888 Keystone Crossing that Bell is vacating, has purchased Bell’s new headquarters at 4400 W. 96th St.
The Corydon Group bought 125 W. Market St. Aug. 2 and will occupy the 4,200-square-foot top floor of the three-story building after renovations are finished in early November.
The Cotton-Ropkey House was built in 1850 and features Greek Revival and Italianate features, including six-over-six windows, walnut floors and crown moldings.
Figures from Cassidy Turley showed the suburban market growing by 247,000 square feet while downtown contracted by 68,000 square feet in the first half of the year.
The six-block stretch just outside the front door of the historic Indianapolis Motor Speedway was desolate when the town of Speedway formed a redevelopment commission in June 2005.
The nearly $2 million effort, named Indy Rezone, is being steered by city planners, private developers, elected officials, architects, community activists and others.
A legal battle that had threatened the east-side landmark has been settled, and a $300,000 grant has been secured to begin stabilizing it.
The northeast-side school district has sold one building, has three offers for another and is seeking tenants for 100,000 square feet in a third building.
Whitsett was counting on selling state-issued affordable housing tax credits to finance the $27 million project, but it wasn’t among the projects awarded credits.
