Analyst predicts modest year for REIT returns
Goldman Sachs & Co. analyst Jonathan Habermann expects a return of 5 percent to 10 percent this year after last year’s 29-percent total return for REIT stocks.
Commercial Real Estate
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Not much optimism in commercial real estate outlook
Another challenging year is in store for commercial real estate thanks to high unemployment, a still-struggling housing market and an unforgiving credit environment, Cassidy Turley plans to report Thursday at its annual State of Real Estate event.
Simon Property abandons offer for Capital Shopping
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
Citimark rejoins development game
The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
Trail Side funding finally closes
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
Sara Lee to lease 281,000 square feet in Plainfield
Sara Lee Corp. has signed a lease for about 281,000 square feet of space at Plainfield Business Center at Airwest. The Illinois-based maker of food products will establish a new distribution center in the space in February.
Simon target’s valuation ‘out of reach’ for Indianapolis firm
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
Real estate brokers scrambling for national partnerships
Top commercial real estate firms have been playing a name game of late, picking up or dropping national affiliations in a broad realignment of the city’s brokerage business.
D-A Lubricant moving from Indianapolis to Lebanon
Company will purchase 23 acres and have Duke Realty Corp. build a 225,000-square-foot industrial facility in Lebanon Business Park. The move should be completed by December.
INSIDE DISH: Recess owner keeps it simple, plans expansion
After initial trepidation over its chef-centric concept and urban location, Recess' Greg Hardesty plans to open another school-themed eatery.
Brightpoint expansion includes three buildings
The distributor of wireless devices has completed its purchase of a 533,000-square-foot facility in the AllPoints Midwest business park in Plainfield and is leasing a 200,000 square-foot building, also in Plainfield.
Local office market continues vacancy struggles
The Indianapolis office market suffered through a tough 2010, marked by stagnant and high downtown vacancy rates, falling suburban occupancy rates and another year without construction activity.
Commercial real estate will continue its climb back in 2011
Medical office likely will be the strongest sector, followed by apartments.
Real estate startup hopes to raise millions in stock offering
A group of local entrepreneurs has filed plans with with the SEC to raise as much as $306 million to buy real estate assets in a so-called "blind pool" stock offering.
Simon lands $4.6B loan to fund offer for London mall owner
Simon Property Group Inc. has secured a 3 billion pound loan that will give the company the resources to bid for London-based Capital Shopping Centres Group Plc.
Lender takes action on Renaissance Bay project
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
Christmas Eve dash caps banner shopping season
A strong Christmas Eve would round out a surprisingly successful holiday season for retailers. The National Retail Federation predicts that holiday sales will reach $451.5 billion this year, up 3.3 percent over last year.
Broadbent spins off construction business
Beleaguered local developer The Broadbent Co. plans to spin out its construction arm as an independent company as of Jan. 1.
Weak real estate market slams developers, banks
One local developer emerged from bankruptcy and another fought off growing financial woes as the commercial real estate market remained challenging.
Analysts: Simon unlikely to buy Capital Shopping
Simon Property Group Inc. is unlikely to buy Capital Shopping Centres Group Plc because it will take too long for rents to rise enough to justify a price its U.K. counterpart would accept, according to Barclays Capital real estate analysts.