Council to vote on funding for North of South project
The City-County Council will consider Monday evening whether to allow the city to issue $98 million in bonds to finance a portion of the controversial $155 million development.
Commercial Real Estate
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Simon Property’s quarterly profit rises on improving retail sales
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
Lender seeks to foreclose on Castleton Plaza
German American Capital Corp. claims the owner of the strip mall, Castleton Plaza LP—a subsidiary of Broadbent Co.—owes it $10 million. The lender is requesting the property be sold at a sheriff's sale to help satisfy the debt.
Integra Bank’s auditor says situation may be dire
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
Duke Realty reports strong year-end results
Duke Realty Corp. reported a fourth-quarter profit almost 70 percent above last year's figure as it closed out its best leasing year since 2007 and finished with its highest annual portfolio occupancy rate since 2004.
Fix-up list is long as Indianapolis prepares for 2012 Super Bowl
Plenty of opportunities await city officials bent on making downtown shine for the massive event.
Brenwick turns over commercial sales, leasing at Village of West Clay
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
St. Louis firm pursuing local retail, industrial properties
Bianco Properties has purchased its fourth Indianapolis property in less than five years and is pursuing more deals here.
Ritter’s Frozen Custard franchisees reopening stores
As a new owner revamps the Ritter’s business plan, at least four of the frozen custard stands in the area have either opened or are set to reopen in the same locations where they previously operated.
Investment firm buys former bank branch
C.H. Douglas & Gray will relocate to 71st & College building previously owned by PNC Bank.
Legislation seeks RFP option for selling state land
The bill would allow the Indiana Department of Administration to sell real estate using a request for proposals, in addition to existing options for competitive bids or an auction.
Analyst says spurned Simon still has plenty of potential
Simon Property Group Inc. used multibillion-dollar buyouts to become the nation’s largest public real estate company. So should investors be worried its last two acquisition bids have gone bust?
NAI Olympia vets join brokerage startup Alliance
If Alliance grows as fast as projected, it could break into the city’s top-10 largest commercial real estate brokerage companies for 2011, based on IBJ’s Book of Lists.
Mass Ave property owner gets foothold on Virginia Avenue
A downtown advocate who renovated and repopulated a commercial building on what was once a desolate stretch of Massachusetts Avenue hopes to do the same on Virginia Avenue, where he just closed on the purchase of three contiguous commercial buildings totaling 15,000 square feet.
Community Health plans $12M east-side medical complex
Construction is set to begin soon on Community Health Pavilion, a three-story, 55,000-square-foot medical building to be built on six acres at 7910 E. Washington St.
Council committee to consider North of South bonds
Approval would let city issue $98 million in bonds to finance its portion of the $155 million North of South mixed-use project set to be built on 14 acres north of South Street between Delaware Street and Virginia Avenue.
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.
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.