Ratio Architects pursues design work in China
Indianapolis-based Ratio Architects Inc. has signed an agreement with Zhejiang University Design Institute in Hangzhou, China, in an attempt to pursue design work in the country.
Commercial Real Estate
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Tech companies converge in Warehouse District
Right On Interactive next month plans to move its 30 employees from 5,000 square feet at 136 E. Market St. to about 7,000 square feet on the second floor of Allen Plaza, the luxury condo complex at 1 Virginia Ave.
Historic Market Street building gets new owner
The Corydon Group bought 125 W. Market St. Aug. 2 and will occupy the 4,200-square-foot top floor of the three-story building after renovations are finished in early November.
Local developer buys 50 acres in Intech Park
Ace Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
Troubled Di Rimini apartment building closer to opening
A controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer to being ready for tenants after city officials granted the project’s new owner a zoning variance.
ICVA eyes funds from sale by CIB of downtown’s Ober building
The Capital Improvement Board wants to plug a $2 million funding hole that will open up next year for the Indianapolis Convention & Visitors Association with the expiration of a $5.9 million grant from the owner of the JW Marriott hotel downtown.
Indiana Landmarks still trying to save pre-Civil War home
The Cotton-Ropkey House was built in 1850 and features Greek Revival and Italianate features, including six-over-six windows, walnut floors and crown moldings.
Super Bowl bid might spur new downtown hotel
Downtown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a 2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
Developers taking serious look at former GM site
At least six reputable developers, both local and national, have toured the former General Motors plant near downtown Indianapolis since it closed last year, according to an official trying to market the property. Of those, two are taking a serious look.
Parking-garage connectors receive city approval
The Metropolitan Development Commission’s plat committee has given local developer Flaherty & Collins Properties the go-ahead to include two upper-level pedestrian connectors in its plan to build a five-story parking garage downtown. The garage is part of a larger, $85 million development.
Simon Property directors sued over CEO’s pay
The board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included $120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
Centre Properties retail center hit with $7M foreclosure suit
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
Five in the running to manage City-County Building
Indianapolis Mayor Greg Ballard’s office is reviewing proposals from five commercial property managers that want a crack at running the City-County Building for the next 30 years.
City to consider connectors for downtown garage
The developer of a five-story parking garage downtown is seeking city approval to build two upper-level pedestrian connectors to offer easier access to the garage, especially for employees of nearby OneAmerica Financial Partners Inc.
Indianapolis hotels see sharp increases in room revenue
The Indianapolis hotel market is poised to record a 10.8-percent increase in revenue per available room in 2012, according to projections from PKF Consulting. The city's hosting of the Super Bowl gave the market a huge, early lift.
Kite reports larger quarterly loss, higher revenue
The Indianapolis-based real estate investment trust attributed much of the $2.7 million loss to $1.8 million in interest and depreciation expenses on some of its properties. Revenue grew to $25.1 million.
Star‘s labyrinth of aging buildings complicates sale, reuse
Local real estate pros say finding a reuse for the Indianapolis Star's HQ will be tricky. The newspaper is selling its labyrinth of buildings at 307 N. Pennsylvania St., which have multiple floor levels, narrow hallways and a basement built to house printing presses.
Revamped Pan Am Plaza on track for October debut
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
Fashion Mall landlord suing tenant over unpaid rent
A division of Simon Property Group Inc. is suing Brisbane, Calif.-based Bebe Stores Inc., claiming the women’s clothing retailer owes it $64,000 in unpaid rent.
Star putting downtown headquarters on market
The Indianapolis Star plans to sell its headquarters building at 307 N. Pennsylvania St. and seek modern office space elsewhere downtown, the newspaper said Friday afternoon.