The Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
Executives of defunct Indianapolis developer Premier Properties USA Inc. are negotiating to settle a lawsuit brought by the U.S. Department of Labor that claims the company raided employee retirement accounts in a last-ditch bid to save itself in early 2008.
The Indianapolis-based real estate investment trust said it will sell 2.6 million shares of preferred stock at $25 each to repay debt, purchase property and use for general corporate purposes.
DLZ Indiana closed in September on the century-old building at 157 E. Maryland St. and plans to spend nearly $2.3 million renovating it.
Shares of Capital Shopping Centres Group Plc, Britain’s biggest mall owner, rose the most since the company went public in 1992 after saying Indianapolis-based Simon Property Group Inc. may offer more than $3.6 billion in cash for the company.
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
A local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown.
Grande Reserve at Geist fetched $13.3 million, just shy of the asking price.
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
Over the last few months, a wave of events has given momentum to grass-roots efforts to revive the West 38th Street corridor and its broader neighborhood, which includes Lafayette Square Mall.
The division of Dow Chemical has a 15-year lease with Indianapolis-based developer Browning Investments on the two-story building near West 96th Street.
Owner Taki Sawi received a crash course in getting a restaurant back on its feet after a catastrophic fire on Oct. 11. The Greek eatery is slated to reopen in mid-December.
Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said Tuesday.
A $10 million apartment and retail building planned for 875 Massachusetts Ave. was supposed to have broken ground by now. But difficulty in closing the sale of tax credits that will be used to finance the project could cause the deal to unravel.
If the manufacturer and drugmaker can come to an agreement, Rolls-Royce would lease the space formerly occupied by Eli Lilly and Co. and relocate some of its 2,500 employees to the downtown campus on South Meridian Street. Discussions are expected to last several months.
The fire began at a Dunkin’ Donuts shop Thursday morning, spread to a winemaking shop and threatened other businesses.
The historic, 8,000-square-foot Gatling Gun Club building sold for $250,000 and the 19,000-square-foot parking lot went for $130,000, to two separate bidders.
The U.S. Federal Trade Commission said it is requiring Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, to sell outlets in a settlement related to the $2.3M purchase of Prime Outlets Acquisition Co.
The historic structure at 709 N. Illinois St., along with a nearby parking lot, could be sold Wednesday afternoon. Declining membership and rising costs led the private club to seek a sale of the 160-year-old building.
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
