Simon’s Rushmore Mall loan sent to servicer, Fitch says
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
Commercial Real Estate
Articles
Settlement ends bitter battle over Mel Simon estate
A long, contentious family battle over the $2 billion estate of the late shopping mall tycoon Melvin Simon has ended with a confidential settlement.
Pedcor to start second phase of Carmel’s City Center
The Nash, a three-story, $10 million mixed-use building, is to be built just south of City Center on the west side of Rangeline Road.
Auction of Charlestown family farm tops $1 million
The auction of one of the oldest remaining family farms in southern Indiana was watched closely by farm and preservation advocates.
How 3 real estate entrepreneurs expanded during slowdown
Aasif Bade of Ambrose Property Group, Tadd Miller of Milhaus Development and Joe Whitsett of The Whitsett Group saw opportunity as many rivals retrenched.
Second-quarter commercial real estate statistics for Indianapolis
Commercial Real Estate Focus sections include statistical snapshots of Indianapolis' multi-tenant office vacancy rates and the local industrial market.
Cornerstone content with small medical developments
Local firm has carved out niche building for hospitals, physician groups.
East-side biz incubator’s new owner is old owner
The Indianapolis Enterprise Center on the near-east side has been acquired by a local investor group led by the former owner of the troubled business incubator.
Site of historic church being shopped for retail development
The 4.5-acre site of the St. John United Church of Christ is back on the market following the settlement earlier this year of a lawsuit between the church and the city.
As Simon soars, two big mall anchors retrench
Are Simon investors overlooking the potential fallout from trouble at two of the mall giant’s biggest tenants, Sears and JCPenney?
Railcar shipments making a comeback in Indiana
High diesel prices are turning companies to trains.
Bloomington approves $27 million downtown hotel project
The Bloomington City Council has approved giving up some city property for construction of a $27 million Hyatt Hotel near the downtown courthouse square.
City leads Midwest in speculative industrial development
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.
$22M foreclosure suit targets local apartment complexes
The three complexes are Dogwood Glen Apartments on the city’s northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
Airport could land second solar-energy farm
The Indianapolis Airport Authority is in talks that could lead to a second solar farm at Indianapolis International Airport. Discussions are taking place even as the initial solar farm has yet to get off the ground.
Airport Authority continues to fight off-site parking lot
The Indianapolis Airport Authority has taken its fight against an off-airport parking operator to the Indiana Court of Appeals after exhausting its options in Marion County Superior Court.
Developer unveils 16-home project just east of downtown
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.
Marsh Supermarkets names new CEO from ranks of A&P
The parent company of Marsh Supermarkets has picked a new CEO to lead the locally based grocery chain.
Circle Centre to build entry through empty Nordstrom
Construction could begin soon in the former home of Nordstrom at Circle Centre mall, but the project does not signal an end to the mall’s limbo following the 2011 departure of its marquee anchor.
Zionsville, school district make $5.7M land deal with Dow
Zionsville Community Schools and the town of Zionsville are teaming up to purchase and develop a prime piece of real estate owned by Dow Chemical Co.