Tanger buys outlet center from Simon Property
Tanger Factory Outlet Centers Inc. said Tuesday it bought an Ohio outlet shopping center from Indianapolis-based Simon Property Group Inc. for $134 million.
Commercial Real Estate
Articles
Owner of several properties south of Mass Ave starts to divest
The pending sale of two historic buildings and a vacant lot just south of Massachusetts Avenue is the first of what could be several deals in the area as one of its largest property owners begins to divest its holdings.
MARR: Farewell to a long list of great colleagues and mentors
Six people were key mentors and associates during real estate career in Indianapolis.
Chambers quietly built Buckingham into real estate colossus
The North of South mixed-use project in downtown Indianapolis is just the latest development for Brad Chambers, who started out in the landscaping business.
Tentative settlement reached in lawsuit over historic church
A provisional settlement in a federal lawsuit filed last September against the city by St. John United Church of Christ gives parties in the case six months to find a buyer for the nearly 100-year-old church.
$100M ‘Bridges’ project in Carmel wins approval
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK’d Monday night by the Carmel City Council after numerous concessions.
Developer puts Cosmopolitan complex on block
The Cosmopolitan on the Canal, a 218-unit upscale apartment complex in downtown Indianapolis that cost more than $33 million to build, has been put on the market by Flaherty & Collins Properties.
Bids opened for Keystone Towers demolition
Quotes came in way below city’s $2 million budget.
Report paints brighter picture for retail
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
City to roll out plan for 16th Street tech corridor
The city of Indianapolis plans to announce a major initiative to turn a stretch of 16th Street northwest of downtown into a hub for biotechnology and other high-tech companies.
Arizona project bankrupts local developer Bodner
Bruce Bodner, a quiet but prolific local developer who in the late 1990s bought and revitalized two of downtown’s most recognizable buildings, has filed for bankruptcy after making a doomed bet in Arizona.
Effort to save minority car dealer lands Bill Mays in ditch
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
Bull-themed Cadillac Ranch takes over Music Mill
Nightclub Cadillac Ranch plans to open a location in the former Music Mill restaurant and concert venue on 82nd Street.
Real estate deals picking up around Fashion Mall
Owners of the Sheraton Indianapolis are converting one of its towers into luxury apartments, and developers are vying to replace the vacant Woodfield Centre.
Multiple tenants likely needed to plug Nordstrom hole
Nordstrom occupies a staggering 210,000 square feet spread across three floors—60 percent more space than the Seattle-based chain occupies at the Fashion Mall at Keystone and likely more than any single retailer would be willing to lease.
Renaissance Bay heads for sheriff’s sale
A $150 million project that slammed head-first into the recession is slated for a sheriff's sale later this month.
WOJTOWICZ: Relief available for firms with falling real estate values
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
Shrunken Lauth emerges from reorganization
Lauth Investment Properties, which holds the remains of the real estate empire of Lauth Group, has emerged from Chapter 11 bankruptcy, with about $25 million and a portfolio of properties valued at $35 million.
Nordstrom closing Circle Centre store
Nordstrom plans to close its store at Circle Centre mall, dealing a substantial setback for downtown. The Seattle-based chain was scheduled to announce the closure to employees at a mandatory staff meeting Thursday morning, a person familiar with the plans told IBJ.
City Market set to oust 19-year tenant Enzo Pizza
Directors of the historic building have notified the pizza restaurant that it needs to have its equipment removed by the end of the day on Friday after the two sides could not agree on a new lease.