First-quarter commercial real estate stats for Indianapolis
IBJ's Commercial Real Estate Focus sections include statistical snapshots of Indianapolis' multi-tenant office vacancy rates and the local industrial market.
Commercial Real Estate
Articles
Plan envisions hot growth for downtown Indianapolis
A study commissioned by the office of Mayor Greg Ballard envisions a much more densely populated, walkable downtown core stretched by several blocks and supported by another Circle Centre mall's worth of retail and enough new office space to double the size of Chase Tower.
SMC plans $19M Noblesville expansion, 163 jobs
SMC Corp. of America plans to spend $19 million to expand its North American headquarters in Noblesville, making room for an additional 163 employees by 2017, the company announced Tuesday.
Simon CEO lands $137 million in compensation
David Simon must remain CEO of Indianapolis-based Simon Property Group for at least six years to see any of the $120 million in special stock awards the company’s board of directors awarded him last year, and must stay on eight years to reap the full amount.
Effort to save Rivoli Theatre faces another delay
The theater, at 3155 E. 10th St., has the potential to be a catalyst for further redevelopment of the corridor if the not-for-profit that owns it can win complete control of the 1927 structure and stabilize it.
Plans for Broad Ripple parking garage hit snag
City officials are recommending that construction of the $15 million parking garage and retail project be denied because the property sits 4 feet below a flood plain.
Developer envisions $20M farming operation to replace plant
A local entrepreneur is laying the groundwork for a $20 million transformation of a soon-to-close automotive plant into a sustainable farming operation that would raise fish and hydroponic vegetables.
Cook Group to restore southern Indiana movie theater
Bloomington-based medical device maker Cook Group announced Tuesday it would restore the 750-seat Tivoli Theatre in downtown Spencer, which was built in 1928 and boarded up in 1999.
Health care real estate owner takes over management of 29 buildings
Healthcare Trust of America now handles property management and leasing for 29 buildings formerly managed by Hokanson Cos.
Developer, contractors brawling over FBI construction project
The developer and contractors who built the FBI’s new $39 million Indianapolis field office, just north of Castleton Square Mall, are squabbling in court a year after wrapping up work on the project.
Lafayette Square amusement center closes
America’s Incredible Pizza Co. shut down on Sunday, leaving a 75,000-square-foot vacancy in the struggling shopping center on Indianapolis’ west side.
New hardware store tries to carve out niche near downtown
In a city and industry dominated by big-box home-improvement chains, North Meridian Hardware owner Keith Payne hopes his independent store can build a loyal following among downtown’s denizens.
Mass Ave project surrounding Barton Tower gets state OK
A partnership of Flaherty & Collins Properties and Insight Development Corp. was awarded rental housing tax credits by the state that will be sold to finance construction of a 61-unit, $11.5 million apartment project at 555 Massachusetts Ave.
French mall operator looks to Simon for know-how
Simon Property Group Inc.’s cutting-edge experience as the biggest U.S. mall owner will help Klepierre SA boost rental income at its shopping centers, the French company’s CEO says.
Much smaller project would fill former Venu site
A parcel of overgrown bank-owned property with a leaky roof at the southwest corner of East 86th Street and Keystone Avenue may finally be poised for redevelopment: A Wisconsin firm has the 6.4 acres under contract and is putting together plans for a retail strip, a couple of restaurants and possibly a hotel.
Mike’s Carwash trial awaits closing arguments
Lawyers on Wednesday finished presenting evidence to determine the true value of Mike’s Carwash Inc. and how much a former co-owner should have been paid for his share in the company.
Decision on canal residential project delayed again
The Metropolitan Development Commission moved a vote on the proposal to April 18 after expressing concern that it didn’t have enough time to review plans that reduce the project from 26 stories to 10. The developer criticized the delay.
Developer scales back plans for tower along Central Canal
The firm behind a proposed downtown apartment tower designed for college students has slashed its height from 26 to 10 stories to improve its chances of winning city approval.
Irvington apartment, streetscape projects clear hurdles
Two significant construction projects are closer to starting in Irvington, where the district’s East Washington Street commercial corridor is bouncing back even as one of its key buildings faces demolition.
Downtown condo residents sue developer over damage
The homeowners association for the 70-unit Hudson wants the building’s developer, Kosene & Kosene, to pay to repair damage it alleges was caused by faulty construction.