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 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 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.
Gordmans, an apparel and home decor retailer, said it will spend $37.5 million to construct and equip a 545,000-square-foot distribution center in Clayton.
The bank that owns the hulking pile of code violations known as Di Rimini at the southeast corner of Capitol Avenue and St. Clair Street is poised to invest more than $1.5 million to finish the ill-fated project.
The city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already sluggish recovery.
Two Illinois companies have acquired a six-building, 446,000-square-foot Indianapolis office portfolio from locally based Duke Realty Corp. Industry sources say the buildings sold for more than $20 million.
The Indianapolis elevator repair and installation company has been acquired by ThyssenKrupp AG. Amco Elevator was founded in 1965 and had been locally owned until the purchase.
Hendricks Commercial Properties wants to build a five-story, L-shaped building with more than 36,000 square feet of ground-level retail space and 130 high-end apartments on the upper floors.
Indianapolis attorney and developer Paul J. Page has agreed to cooperate with federal prosecutors in an investigation that targets former Marion County Prosecutor Carl Brizzi.
A historic brick building long used as a restaurant and hotel suites next door to Circle Centre mall is going up for sale for the first time in almost a decade, with an expected asking price of $4 million.
Owner of real estate near 16th and Central says grocery chain showed little interest, but Kroger says it still wants property to make way for new downtown store.
The Indiana Court of Appeals affirmed Christopher White’s 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
The owner of the building at 4225 E. 82nd St. owes $4.9 million on a $7.4 million loan, according to the suit. The tenant, Lifestyle Family Fitness, closed the location in November 2011.
If there were an MVP for local CEOs, David Simon would again find himself at or near the top of the list in 2012.
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
The former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood. About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
Developers are moving forward on plans for a 25-acre, grocery-anchored redevelopment in the Highland-Kessler neighborhood after winning city zoning approval this month.
A judge has ruled that two northeastern Indiana school districts can sell vacant schools, bypassing a state law requiring them to wait four years in case a charter school wanted to claim the buildings.
Gershman Brown Crowley Inc. is in the process of getting design approval from the city of Carmel for a 9,600-square-foot retail building and a 13,200-square-foot CVS pharmacy.
