Downtown projects face crucial hurdles
Two downtown apartment projects seek critical government approvals in the next month, while another commercial project is on track to start this year.
Commercial Real Estate
Articles
CIB cuts price on Ober Building after inspections
The Capital Improvement Board of Marion County has agreed to slash its sale price on downtown's Ober Building by $700,000 after inspections showed problems including a leaky roof and damaged HVAC system.
Kite sells 3 area buildings in dealmaking blitz
The Indianapolis-based real estate company disclosed the transactions in its fourth-quarter financial report. Kite said it lost $6.5 million in the quarter on nearly $27 million in revenue.
Wal-Mart revisits plan for Greenwood store
A retail giant that lost its bid to build a store in Greenwood nearly a decade ago is hoping local leaders look more favorably on a new proposal to erect a smaller store at the same site.
Bales trial in jury’s hands after colorful closings
During three hours of closing arguments Wednesday in the federal fraud trial of real estate broker John M. Bales and William E. Spencer, a federal prosecutor and two top-tier Indianapolis defense attorneys delivered a series of memorable one-liners and rhetorical flourishes designed to stick with jurors.
UPDATE: Defense takes turn in Marsh civil trial
Don Marsh finally got off the hot seat Wednesday afternoon after his former company wrapped up nearly two days of questioning, but he didn't stay off the witness stand for long.
Long-struggling condo development going to auction
The mostly two-bedroom units represent the bulk of the ill-fated Chatham Kynett Court project at 716 N. East St. in the Chatham Arch neighborhood.
Simon ups dividend after beating analysts’ expectations
The Indianapolis-based shopping mall owner reported funds from operations, a key measure of a real estate company's performance, of $2.29 a share, topping the average estimate from analysts of $2.17 a share.
Defense attorneys turn tough in Bales trial
The legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank, mail and wire fraud.
Duke Realty earnings, revenue see quarterly decrease
Indianapolis-based Duke Realty Corp. on Wednesday reported a fourth-quarter loss of $22.5 million, a sharp decline from the $60.2 million it made in the same quarter of 2011.
Former Venture employee turns on Bales during testimony
An FBI investigation into Venture Real Estate Services and principals John Bales and Bill Spencer had already begun when Matthew Dyer signed on as the company's controller in December 2009. Bales told him the company had done nothing illegal, Dyer testified Wednesday.
Defense attorneys in Bales case trash former co-defendant
Attorney and developer Paul J. Page is no longer a co-defendant in the fraud trial of real estate broker John M. Bales and partner Bill Spencer. But you wouldn’t know it from the action Tuesday in U.S. District Court. Only now, rather than federal prosecutors, it’s defense attorneys for Bales and Spencer who are targeting Page.
City-County Council approves north-side TIF district
A new redevelopment area will be created on the north side, as the Indianapolis City-County Council voted 23-5 Monday night in favor of the North Midtown tax-increment finance district.
Bales defense: Elkhart deal was a ‘scheme to help’
Facing a looming deadline to find suitable office space for the state Department of Child Services, Indianapolis real estate broker John M. Bales and partner Bill Spencer in 2008 dipped into their own pockets to help close a difficult lease deal, their defense attorneys contend.
Butler Automotive snaps up 96th Street parcel for dealership
An affiliate of Butler Automotive Group bought more than 19 acres at the northwest corner of East 96th Street and Randall Drive in late December and is seeking permission from Carmel to build a structure that would house Butler Hyundai.
Indiana House OKs looser rules on selling old schools
The Indiana House has approved a bill that would shorten the time that school districts must hold onto vacant buildings in case a charter school operator wanted to move into the building.
Bales’ trial could turn on definition of ownership
The jury trial in South Bend for real estate developer John Bales and his general counsel, William E. Spencer, is scheduled to begin Jan. 28 and last up to two weeks. Bales and Spencer, both 45, are facing 13 counts, including wire and mail fraud.
Real estate developers’ exhilaration turns to pain in bankruptcy
Many Indianapolis developers know the feeling. In good times, few industries generate an adrenalin rush like real estate development. But it’s a highly leveraged business built upon certain assumptions that proved flimsy when the financial crisis hit.
Mall REITs soared in 2012 by ditching struggling centers
Mall owners, including Simon Property Group Inc. and General Growth Properties Inc., have been moving on from struggling retail centers as the economic rebound drives them to focus on the best-performing markets.
HHGregg ratchets back, but analysts still uneasy
HHGregg now has 228 stores in 20 states. So it has grown a great deal. But the “exceptional store economics” it used to promote are gone, thanks largely to a breathtaking collapse in sales of flat-screen televisions.