The anchor tenant in the Binford Medical-Professional Office Complex at the corner of 65th Street and Binford Boulevard has closed temporarily, citing a lack of other tenants in the high-profile medical building. The shut-down is the latest in a string of setbacks for what was to have been a five-building, $29 million development. The Binford […]
Creating a self-contained community on 1,700 acres of farmland could take much longer than the 15 to 20 years Duke Realty
Corp. predicted.
The 32-year-old developer Lauth Group Inc. likely will survive in some form if the company can find financing to get it through
a Chapter 11 reorganization and if the real estate market doesn’t take too long to turn around, experts said.
Here’s more evidence we’re in strange times: Indianapolis’ real estate investment trusts have been issuing hundreds of millions
of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.
Struggling developer Lauth Group Inc. has cut about 90 percent of its staff and lost control of part of its portfolio to a
major equity partner-developments that raise doubts about whether the locally based company can survive the recession.
The Simon family’s role in building the city has come at a steep price for taxpayers. Simon and
its business interests in the last 20 years have collected local government incentives
worth more than $400 million, an IBJ tally of those deals shows.
Tight budgets, unsure future make moving unattractive to office-space renters.
The private Todd Academy plans to move into a historic building at the northwest corner of East and New York streets in Lockerbie
Square.
The recession, coupled with personnel shifts, have grounded the more than $50-million hotel project adjacent to the new terminal.
Macy’s decision to close its store at Lafayette Square could deal a devastating
blow to a mall already reeling from the loss of other major tenants.
A new report shows that, despite a sluggish national economy, the Indianapolis area should continue to attract industrial
businesses and distribution centers next year.
Kite Realty Group Trust has joined local peers Duke Realty Corp. and Lauth Group Inc. in laying off employees as it copes
with dried-up credit and a soft retail market.
Some of the city’s most prominent commercial real estate brokers have resigned from locally owned Meridian Real Estate to
launch an Indianapolis affiliate of Chicago-based Jones Lang LaSalle.
Aasif Bade started Ambrose Property Group with three employees this month.
Veteran office broker John Robinson, one of the founders of locally based Meridian Real Estate, has left the firm and is working
on a new venture.
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
The new, $1.1 billion terminal at Indianapolis International Airport likely won’t house as many airport employees as the existing
facility. Instead, portions of the terminal are being set aside for their revenue-generating potential.
CEOs with Simon Property, Duke Realty Corp. and Interactive Intelligence Inc. report that their companies are taking an uncharacteristically
cautious approach to acquisitions and investments, given the faltering economy.
DBSI, an Idaho real estate firm with 250 properties worth $2 billion faces a class-action suit. Some of its properties and
investors are in Indianapolis.
A local real estate developer has emerged as a top contender to buy the 28-story M&I Plaza–potentially at half the
$50 million price the building fetched a decade ago. Paul Kite Co. confirmed it is in talks with Maryland-based
CapitalSource Inc., which took over the struggling office tower in June after foreclosing on a $5 million
mezzanine loan.
