Vacancy rates in the downtown and Keystone at the Crossing markets climbed in the past six months, according to
Meridian
Real Estate’s latest report, but the market shows signs of stabilizing.
Deals for both Nordstrom and Carson Pirie Scott are up for renewal in the coming months.
A not-for-profit group that's hoping to build a retail project at the northeast corner of 22nd and Delaware streets
is looking for tenants after a deal for an Ace Hardware fell apart.
Simon Property Group Inc. plans to rejoin the giant leasing mall at the annual ICSC convention in Las Vegas, where 25 percent
of the nation’s retail lease deals are consummated.
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions
on the sale of surplus state properties. He also acted as a developer for public-sector
tenants—putting them into buildings owned by him or his associates.
Most of the 148,000-square-foot building just north and east of the 96th Street/Interstate 69 interchange is empty.
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank
over a naming-rights deal announced March 16.
A 10-year, $20 million deal for a civilian division of the U.S. Marine Corps to occupy four floors of the 28-story M&I
Plaza building downtown will push
the city’s sixth-largest office tower from a woeful 30-percent occupancy rate to about 50 percent.
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators,
has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last
night that he has purchased the Music Mill and plans to reopen it Oct. 12.
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it’s becoming increasingly difficult to determine the value of properties.
Some of the city’s most prominent commercial real estate brokers have resigned from locally owned Meridian Real Estate to
launch an Indianapolis affiliate of Chicago-based Jones Lang LaSalle.
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
The new, $1.1 billion terminal at Indianapolis International Airport likely won’t house as many airport employees as the existing
facility. Instead, portions of the terminal are being set aside for their revenue-generating potential.
Eli Lilly and Co. has decided to vacate 99,000 square feet of office space at 30 S. Meridian St. in yet another blow to the
struggling downtown market. Roughly 1.8 million square feet of space already is sitting idle downtown, putting downward pressure
on rents.
