Local buyer acquiring Circle Tower for $6M
A fast-growing Indianapolis real estate firm is poised to acquire one of the city’s most iconic and well-located historic buildings.
Commercial Real Estate
Articles
Simon exec: There’s ‘no interest’ in buying General Growth
A Simon Property Group Inc. executive said that the largest U.S. mall owner isn’t trying to acquire competitor General Growth Properties Inc., which announced Monday that it won’t put itself up for sale.
Judge denies airport’s objection to competing parking lot
A Marion County judge has denied a legal challenge by the Indianapolis Airport Authority that would prevent a Cincinnati-based developer from opening a competing parking lot near the airport.
General Growth rejects call for sale of company to Simon
General Growth Properties Inc., the second-largest U.S. shopping-mall owner, rejected investor Bill Ackman’s request to put itself up for sale and said it will remain independent.
Virginia Avenue attracts yet another project
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.
Real estate firm’s niche is commercial Hispanic clients
Real estate entrepreneur Kelli Membreno, a bilingual native of northern Indiana, has built a business on helping Hispanic entrepreneurs navigate the barriers of language and American business customs.
Tribal casino could squeeze state coffers
A tribal casino planned for northern Indiana could deal a serious blow to established competitors, as well as to an important source of state tax revenue.
Airport may carve up ex-terminal property
Indianapolis International Airport managers say they haven’t given up hope that a single, mega-sized tenant could create an economic development boon at the site abandoned nearly four years ago when the midfield terminal opened. But the latest listing of redevelopment sites shows the former terminal complex being marketed in pieces.
Report: Simon foe General Growth hiring investment bank
The board of General Growth Properties—a longtime acquisition target for locally based Simon Property Group Inc.—may reconsider a sale of the company two years after it spurned a Simon offer.
MDC approves CIB’s sale of building to Steak n Shake
The Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
Ex-concrete plant to be razed for Greenwood nature area
A former concrete plant in Greenwood faces the wrecking ball to make room for a wider road. The city plans to raze the former Prairie Materials concrete plant so it can turn Worthsville Road into a major boulevard that can handle traffic from a planned Interstate 65 exit.
Management contracts help DTM Real Estate push into mainstream
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.
HHGregg’s new push: Selling treadmills alongside TVs
The appliance and electronics retailer is quietly launching a test of furniture and fitness equipment, with rollouts scheduled for 31 of its more than 200 stores.
Major Westfield development projects making progress
Several big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.
Investor urges General Growth to pursue being acquired by Simon
Bill Ackman’s Pershing Square Capital Management LP, the second-largest investor in General Growth Properties Inc., urged the mall owner to enter negotiations for a takeover by rival Simon Property Group Inc.
Bell Techlogix landlord buys tech firm’s new headquarters
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.
Potential for Simon-General Growth deal appears to dim
General Growth Properties' largest shareholder said it won’t pursue a takeover of the company and has no interest in unloading its stake after investor Bill Ackman urged the mall owner to consider a sale.
Simon again considering acquisition of shopping mall rival
One of General Growth Properties Inc.'s largest shareholders says Indianapolis-based Simon Property Group has discussed acquiring the Chicago-based shopping mall competitor.
North-side office building falls into foreclosure
A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.
Software firm Interactive Intelligence needs more space
The call center software maker won’t comment on a report issued earlier this month by Jones Lang LaSalle that said the company is shopping for more than 225,000 square feet of office space.