Walnut Street building sold for retail use
The two-story industrial building along the Indianapolis Cultural Trail will be converted into a furniture store.
Commercial Real Estate
Articles
Legal fight over Pan Am Plaza outpaces redevelopment
Plaintiffs are challenging the city’s 2007 decision to waive a hefty fee that otherwise would have been required to redevelop the crumbling site.
Site chosen for proposed Westfield sports complex
The Hamilton County sports and recreation campus—known as the "Family Sports Capital of America"—is expected to occupy 300 acres and cost millions to fully develop.
BPG sells trio of Keystone Crossing buildings
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
Dolce hotel, YMCA part of city-funded ‘North of South’ development
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
$150M ‘North of South’ project moving ahead
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
REITs use stock sales to grow after paying debt
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
Developer seeks rezoning for Canal apartments
The city’s Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
Indiana Convention Center might need yet another expansion
The current expansion has absorbed the last of the adjoining space, leaving the convention center landlocked.
Tired-but-proud school buildings find new missions
More unneeded buildings are slated to be sold off by Indianapolis Public Schools, but creative people have turned other former schools into reuse gems.
Hoosier Lottery moving to Meridian Street building
The lottery will move in January to the Buick, a 60,000-square-foot building at 13th and Meridian streets owned by principals of Shiel Sexton Construction.
Harding Dahm drops Grubb & Ellis, strikes merger deal
Harding Dahm & Co., which ranked sixth on IBJ’s most recent list of commercial brokerages, will become Lee & Associates Indianapolis. Terms of the deal were not disclosed.
Fried chicken franchises, Argentine eatery call it quits
Five Popeyes restaurants in Indianapolis owned by one franchisee close down, as does downtown eatery Taste of Tango.
Indiana Supreme Court won’t hear Lee’s Inns dispute
A long-running legal battle among members of the Lee family of North Vernon over the valuation of their hotel chain has come to an end.
Tower manager proposes 4th Artsgarden skywalk
Reit Management & Research LLC made a presentation Wednesday to the Indianapolis Metropolitan Development Commission for its plans to build a pedestrian walkway between Circle Centre mall and PNC Center.
Defendant pleads guilty in $880M fraud case
A Florida man with ties to the founder of Indianapolis-based Williams Realty Group
pleaded guilty Wednesday to running a multistate Ponzi scheme that prosecutors say left investors with up to $100 million in losses.
Canadian company buying 12 Crystal Flash stores
Alimentation Couche-Tard Inc. said on Friday that it expects to complete the acquisition of a dozen Indianapolis stores this month. Couche-Tard is the largest independent convenience store operator in North America.
Simon, former executive settle fraud suit
Mark Palombaro, a former senior vice president of development, will pay the company $766,000, settling a lawsuit that accused him of getting kickbacks on construction contracts.
Fishers shopping center lands new tenants
Kite Realty Group Trust has landed Goodwill, Dollar Tree and Mexico City Grill for a renovation of its Fishers Station shopping center.
Indianapolis’ ‘walkability’ touted to convention planners
Compact downtown is big selling point for sustainable-minded planners.