Near-east-side Super Bowl efforts go beyond the big game
For a Super Bowl-related initiative to revitalize Indianapolis’ near-east side, the hardest work will come after the Feb. 5 game.
Commercial Real Estate
Articles
Progress slow on variety of metro area deals
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
Real estate meltdown leaves developers reeling
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
INSIDE DISH: Patrick’s finds room at the Inn in ‘X-mas miracle’
Beth Dickerson and Patrick Mullen had one month to find a new home for their struggling restaurant and move. A lucky break at Brick Street Inn and dozens of patrons (straight out of "It's a Wonderful Life") helped make it happen.
Krieg Bros. building sold to owner of nearby structure
Buyer Rick Coombes also owns the building at 111 S. Meridian St., the former home of Brenner Luggage, located just north of where the religious store operated for decades.
Marsh wins $19.5M judgment against Roche
A Hamilton Superior Court judge awarded damages to the local supermarket chain in a soured sublease deal it signed with Roche Diagnostics in March 2008.
Warnings about broker’s tactics went unheeded
Several state employees openly questioned how John Bales' real estate brokerage did business long before the FBI launched an investigation that led to his indictment.
Fisher’s IndyCar team building headquarters in Speedway
Sarah Fisher Hartman Racing plans to build a $2.7 million facility on Speedway’s new Main Street to house her race team. Construction on the 37,000-square-foot shop could start in February and be finished in September.
Proposed Broad Ripple parking garage gets zoning OK
The controversial project is a $15 million, three-story garage that the city of Indianapolis will subsidize with $6.3 million in parking meter revenue. The project also features a retail component, which neighbors say will lead to increased traffic.
East-side apartment complex target of $9M foreclosure
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
Carmel office/retail complex hurt by road project gets second chance
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
Hoosier Lottery paring down lavish new offices
Hoosier Lottery officials have started getting rid of some office and gym equipment that was purchased for the agency's $2 million move to a new downtown Indianapolis headquarters.
Keystone Towers redevelopment could start in April
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
Giant Super Bowl ads set to adorn downtown buildings
Downtown building owners are looking to cash in on the upcoming Super Bowl by selling space for massive temporary advertisements.
Overseas rules change could pave way for Simon deals
New rules proposed for real estate investment trusts in the United Kingdom could help Indianapolis-based Simon Property Group Inc. as it seeks to expand its shopping mall dominance outside the United States.
New deals add to robust year in apartment sales
The number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy rates and a combination of ample supply and low borrowing costs.
Malls see big changes just in time for holidays
New stories have debuted at malls across the Indianapolis area. Many are pop-up shops eager to capitalize on holiday shoppers and the Super Bowl crowds.
Builder, developer partner in turnaround firm
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
Washington Square owner Simon not paying on $12.8M loan
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
Bank hits Centre Properties with $43M suit
Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.