The Indianapolis-based real estate investment trust said it will sell 3.1 million square feet of suburban office space for $516.7 million and buy 4.9 million square feet of mostly industrial space for $450 million.
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
Several restaurants, including three pizza chains, and an adult-oriented retail store are planning new locations around the city.
Wait times in the plan-review process for non-residential projects increased dramatically this year, creating a backlog of cases.
The Metropolitan Development Commission agreed to rezone 14 acres of land, which houses a parking lot north of South Street between Delaware Street and Virginia Avenue downtown, to accommodate the $155 million mixed-use project.
A series of questionable decisions by Bren Simon in recent months appear to have paved the way for a Hamilton County judge’s order this week removing Bren as interim trustee over Simon Property Group co-founder Melvin Simon’s estate.
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
The principals of NAI Olympia Partners have decided to shut down the firm after 20 years in business, leaving its competitors to pick from more than 20 veteran office, industrial and retail brokers.
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
Capital Shopping Centres Group Plc, Britain’s biggest shopping-mall owner, rejected a financing plan that would have given potential suitor Simon Property Group Inc. a larger stake in the company.
The local office of the commercial real estate brokerage has named firm veteran John Merrill as its new managing director. He replaces David Reed, who left in late August.
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
Colfin NW Funding LLC claims in a court filing that it is owed $6.4 million by the borrower that operates the Courtyard By Marriott Hotel Northwest under Indianapolis-based Schahet Hotels Inc.
Proposal requires companies to book leases as assets, and stands to shift the momentum to purchases.
Summit Realty Group is building out a new headquarters in a historic downtown building as its principals embark on an aggressive growth plan for the privately held company.
The insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed the apartment project and damaged the not-for-profit’s adjacent headquarters.
A committee has recommended that the state highway department stop hiring Gary-based Superior Construction Co. and Indianapolis-based bridge designer RQAW Corp. over a northwestern Indiana highway that has been closed because of safety concerns.
The purchase of the $500 million portfolio of industrial and office properties would continue Duke’s recent push into the South Florida market.
Developer Debra Stolen Hasbrook found the site at 6520 Westfield Boulevard while running on the Monon Trail.
The $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000 to 2009.
