IT consultant Apparatus buying WFYI building
Locally based information technology consultant Apparatus has agreed to buy the former WFYI building at 1401 N. Meridian St. for a new headquarters.
Commercial Real Estate
Articles
Handmade chocolates shop opens location in Chase Tower
Best Chocolate in Town is expanding beyond its original store on Massachusetts Ave.
Northwest-side theater closes after 25 years of operation
Locally based Sandor Development Co. is looking for a new tenant for the old AMC Loews College Park 14 movie theater, after
the screens went dark for good in July after a 25-year run at West 86th Street and Michigan Road.
Glut of downtown office space grows
Safeco is leaving a five-building complex on North Meridian Street, and Eli Lilly and Co. has offered for lease its entire
four-building Faris campus.
Tenants trickling in to Purdue’s technology center
For a city feverishly growing its technology and life sciences sectors, it seemed a bit anticlimactic last January when
Purdue University dedicated its new technology center with only one tenant. But the lone tenant in the $12.8
million complex, FlamencoNets, a high-tech telecommunications firm, is about to get some company.
Lauth Group’s collapse offers a lesson in hubris
Since key Lauth Group subsidiaries landed in bankruptcy in May, the company has described its misfortune almost as if it
were an act of God.
UPDATE: Simon rents, occupancy buck shopping decline
Sales still are suffering at shopping centers owned by Simon Property Group Inc., but the Indianapolis-based
mall giant managed in the second quarter to keep occupancy steady and eke out an increase in average rent rates.
Simon reports loss amid tough retail conditions
Indianapolis shopping mall giant Simon Property Group Inc. today said it lost $20.8 million in
the second quarter in what it called a “difficult retail environment.”
Duke Realty suffers second-quarter loss
Indianapolis-based Duke Realty Corp. late yesterday posted a 32-percent drop in its second-quarter funds from operations,
a key performance measure for real estate investment trusts.
Indianapolis hotels feel pain of national slump
Hotel occupancy rates are way down in Indianapolis, as they are elsewhere, but local operators and national analysts think
the city is in a good position to bounce back when the economy improves.
Redevelopment eyed for former jail building
Prospective buyers need a little vision to see the potential in the four-story former jail at the southwest corner of Maryland
and Delaware streets.
Kite Realty misses out on REIT revival
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut
dividends, and set the development engine to idle. But as the shares of most publicly traded real estate
investment trusts have bounced back from the lows in March, Kite’s shares have lagged.
Keystone Construction plans Madison Avenue retail center
A local developer is planning a retail strip center along Madison Avenue just south of downtown in a neighborhood that’s been
begging for investment for years. The plans by Keystone Construction Corp. call for a 25,000-square-foot retail
center at 1400 Madison Ave., across from Sisters’ Place Restaurant.
David Simon named among world’s best CEOs
The big cheese at Simon Property Group is wedged among the “top gun” executives in the U.S.
Judge to determine whether Lauth’s filing was proper
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company’s bankruptcy
cases.
Browning acquires 43 homes for $100 million mixed-used development in Carmel
Developer Brown Investments has reached terms with the owners of 43 of 49 homes in the North Meridian Heights neighborhood
in Carmel. Browning plans to demolish the homes to make way for a $100 million commercial development over 17 acres.
Transit, sustainable development likely to be themes in rescue of near-north neighborhood
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County’s biggest
concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
Kroger eyes Zionsville location
Kroger Co. is looking at land in Zionsville for a new store.
Panel handicaps market recovery chances
A panel of five veterans of real estate and construction provided industry insights at IBJ‘s Power Breakfast May
1 at the Westin Indianapolis.
In recession, commercial brokers struggle to determine property values
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it’s becoming increasingly difficult to determine the value of properties.