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.
Commercial Real Estate
Articles
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.
Simon Property to develop outlet center in Canada
Indianapolis-based Simon Property Group Inc. said Monday that it will open an outlet shopping center in Ontario, the first of the shopping mall owner's line of Premium Outlets-brand shopping centers in Canada.
Children’s Museum holds key to Winona redevelopment
The Children’s Museum of Indianapolis is playing the role of lead developer for the abandoned Winona Hospital site.
Veritas Realty owner sells stake to partner
Veteran developer Danny Marr has sold his stake in Indianapolis-based Veritas Realty to a partner and plans to work as a residential real estate agent in Florida.
City proceeding with public safety complex at Eastgate
City-County Council grants approval for the city to enter into a 25-year lease with the owner of the former Eastgate mall to take 76,000 square feet for a Regional Operations Center.
Fountain Square project to include concert venue
The new owner of a 110-year-old building in the heart of Fountain Square is planning a renovation and expansion that will turn it into a restaurant, bar and 450-seat music hall called Pioneer.
New laws affect commercial property owners
Three bills with implications for owners of commercial real estate were approved by the General Assembly and have been signed by Gov. Mitch Daniels.
Zionsville residents disagree on commercial development
After property tax caps crimped local dollars in Zionsville and a school funding referendum failed, many residents have decided it’s time to attract more commercial development. But they are tangled in a hot dispute over how to achieve that goal.
Northwest-side medical building facing foreclosure
The operator of the building at 8424 Naab Road near St. Vincent Hospital is accused of owing an Illinois investment firm $4 million.
Another setback for The Uptown as judge appoints a receiver
A Marion County judge has appointed a receiver to take control of three properties involved in a long-delayed redevelopment proposal for College Avenue between 49th and 50th streets.
Eastgate redevelopment reaches crucial crossroads
Lifeline Data Centers, which bought Eastgate in 2008, plans to invest $10 million into the property this year if the Department of Public Safety moves forward with plans to lease 78,000 square feet.
Men’s store Jos. A. Bank plans downtown location
The men's clothing chain Jos. A. Bank plans to open a new store at Meridian and Washington streets in a much-needed vote of confidence for street-level retail downtown.
Kite Realty Trust reports wider first-quarter loss
Indianapolis-based Kite Realty Group Trust on Friday reported a wider first-quarter loss than a year ago thanks to declining revenue and a big dividend payment to preferred shareholders.
Airport seeks broker to market ex-ATA HQ
The Indianapolis Airport Authority plans to hire a broker to market the 16.5-acre campus along Washington Street near Indianapolis International Airport once used by ATA Airlines. It has been vacant for three years.
East-side apartment complex facing foreclosure
One West Bank in California says it is owed nearly $3.3 million, and is seeking to foreclose on Red Mill Apartments near East 38th Street and North Franklin Road.
School moving to vacant downtown building
A small private school that serves gifted and talented students intends to move to a downtown building that has been vacant since a daycare center moved out three years ago.
Local developer seeks bankruptcy protection
Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.