Parking already at a premium at Rivers Edge shopping center
The 617 parking spaces at the newly renovated Rivers Edge shopping center meet the minimum commercial-zoning allotment—but just barely.
Commercial Real Estate
Articles
Investor Buffett gets behind east-side revitalization project
Warren Buffett joined other investors and Indianapolis community leaders Wednesday morning for a ribbon-cutting ceremony at the $27 million East Village at Avondale apartment project.
Developer zeroes in on troubled Irvington site
A developer that wants to replace a vacant Irvington motel with an $8.7 million apartment building could get permission as early as next week to clear the site for redevelopment.
Circle Centre resolves lease dispute with Cinnabon
An attorney for the downtown Indianapolis mall has filed to dismiss the complaint, saying the two sides have resolved the dispute through an out-of-court settlement.
Lafayette Square coalition names executive director
Mary Chalmers, a neighborhood liaison for the city, will leave that post to lead the effort to improve the area near 38th Street and Lafayette Road.
Big ambitions for small planning firm
Eden Collaborative, the three-man company Adam Thies founded in 2004, is working to revitalize St. Clair Place on Indianapolis’ east side, among other projects.
Industrial-market sales this year end deal drought
Through the first eight months of this year, there were at least seven sales of large industrial properties in the market, compared with zero last year.
Downtown Hyatt upgrades hotel rooms
The renovation, which will be finished in January, includes all 499 guest rooms and suites and the hotel’s corridors.
Owner finding new tenants for former Macy’s
High-end custom homebuilder Moussa Khoury and a partner bought the former Macy’s store at Washington Square Mall in 2009 for about $775,000. They paid cash since commercial lending had vanished. Two years later, the investment has begun paying off.
Pan Am Plaza damage subject of court battles
The owner of Pan Am Plaza’s parking garage, which the city partially closed on Wednesday over safety concerns, has fought legal battles over the damage with Indiana Sports Corp. and Central Parking System.
Texas firm buys water-park hotel on northwest side
General Hotels Corp. has finalized the sale of the Caribbean Cove Hotel & Water Park, averting closure of the 344-room hotel and saving 266 jobs.
City closes downtown plaza after parking deemed unsafe
The city of Indianapolis has closed Pan Am Plaza and part of a parking garage below it near the Indiana Convention Center and Lucas Oil Stadium because the structural integrity of the parking facility poses a safety risk.
Owner of East Market Street buildings eyes apartment conversion
Crown Property Group is issuing a request for proposals for two East Market Street buildings that now are used for office space.
Indianapolis building owners, managers pressed to protect birds
The Audubon Society has documented hundreds of birds killed downtown in the past two years as birds are attracted to the city lights and then fly into windows.
New owners aim for big profit after buying IPS school on the cheap
The buyers of former IPS School 64 stand to make hundreds of thousands of dollars if they manage to flip the property they bought for just $20,000.
Tax bills spur eBay listing for Anderson office buildings
Two investors stung by soaring property taxes have listed three Anderson office buildings on eBay in hopes of drumming up interest in the $4.5 million package deal.
Jack in the Box revives local expansion push
The burger chain has applied for zoning approval to build a restaurant near 16th and Meridian streets, just south of CVS drugstore. It would be one of 10 stores it plans to open here.
Analysts react positively to Finish Line purchase
The Indianapolis-based retailer’s acquisition of an 18-store specialty running chain should produce better results than some past miscalculations, analysts say.
Lauth’s Eaglepoint fattens up on racing teams
David Powers Motorsports, John Force Racing, Don Prudhomme Racing and Vance & Hines together occupy roughly 320,000 square feet of space at the park.
Receiver appointed in $16.8M foreclosure suit
Lender Merrill Lynch Mortgage Trust is foreclosing on several Indianapolis commercial properties, including two retail centers, owned by Greenwood developer Presnell Cos.