New taproom set to open in Fall Creek Place
The establishment, A Taproom, will feature a different out-of-town brewery each month, giving craft brew enthusiasts a way to sample new beers without leaving the city.
Commercial Real Estate
Articles
Real Estate Weekly: News notes, 04/06/21
These news notes appeared in IBJ’s Real Estate Weekly on April 6, 2021: Sales: Cityscape Residential bought 9.65 acres of land at 17901 River Road, Noblesville. The seller, JL Capital One LLC, represented itself, and the buyer was represented by Ross Reller of Bradley Company. White Investment Group purchased a 16,410-square-foot building at 8504 State […]
Soul-food spot Mississippi Belle relaunching after 18-month hiatus
The eatery on East 54th Street needed a complete renovation after smoke damage from an electrical fire. Despite the lengthy closure, its entire kitchen staff is rejoining the restaurant for its April 14 reopening.
Q&A: Marcus & Millichap CEO on 2021 property market
The work-from-home and online-shopping trends are expected to permanently reshape demand for office and retail space, says Hessam Nadji, CEO of the Calabasas, California-based commercial real estate financing and advisory company.
Coworking spaces prepping to capture firms, workers leaving traditional offices
Accommodating new members whose wants and needs have been changed by the pandemic means those co-working spaces must adjust their offerings.
Naptown Fitness team plans to buy, renovate classic 1930s building in Midtown
The smooth limestone building at 3902 N. Illinois St. with streamlined Moderne design touches has been vacant since a brewpub closed there in 2018. Before that, it was a Double 8 Foods store and the Hoster-Hiser Ford and Lincoln-Zephyr car dealership.
In Nora standoff, Crew Carwash battling Steak n Shake over corner property
Crew recently bought the property that contains the steakburger chain’s location on East 86th Street with plans to build a new carwash. But it contends in a lawsuit that Steak n Shake has refused to leave.
Marsh bankruptcy leaves creditors with losses of $340M
The trustee liquidating the grocery chain this month asked the court to close the case, saying he had wrapped up the process of selling off assets and turning proceeds over to creditors.
Michigan firm eyes tax break for planned 79th Street industrial building
The property tax abatement would save Alidade Capital about $505,174 in taxes over a five-year period, and maybe more depending on the type of tenant it lands.
Rents grow despite pandemic—and are expected to keep rising
Landlords had been worried not just that tenants wouldn’t be able to stomach rent increases in 2020 but that they might not be able to pay their rents at all as the pandemic wore on. But collections remained strong,
Roundup: Monterey Coastal Cuisine to open next month in Carmel’s Sophia Square building
Former homebuilder Paul Estridge Jr. is opening a new seafood-forward restaurant called Monterey Coastal Cuisine next month. Also, three new businesses are slated to open in Carmel City Center this summer.
Simon strikes rent deal to keep Ann Taylor, Loft and Lane Bryant stores open
New York City-based RCS said the agreement Simon Property Group made with Premium Apparel LLC will keep all 235 stores in Simon malls open.
Brawny gym for serious weightlifters planned for big retail site on south side
Founded by a local bodybuilder, American Muscle Factory is expected to open in August in a long-vacant, 23,000-square-foot retail space in the Greenwood Place shopping center.
Former Stutz owner plans redevelopment of three Carmel properties
Turner Woodard, the former majority owner of the Stutz Business and Arts Center in downtown Indianapolis, has purchased the former Rich’s Home Furnishings showroom in Carmel to redevelop as the first in a series of three new projects in the northern suburb.
Greenwood approves agreement for $83M redevelopment project
The redevelopment of the former Greenwood Middle School site would bring hundreds of residential units, plus restaurants, retailers and a public parking garage to the city’s downtown.
U.S. spending on construction projects rises 1.7%
Despite an economy that’s been battered for nearly a year because of the coronavirus pandemic, historically low interest rates and city dwellers seeking more space in the suburbs and beyond has boosted home sales.
Real estate firm’s bet on senior health care takes painful turn
The past year has been awful for Carmel-based Invesque, as COVID-19 hurt the full gamut of its health care real estate portfolio, from nursing homes and office buildings to memory-care and assisted-living centers.
IBJ Podcast: What happens to downtown if workers stay remote?
It’s too soon to know for sure how many downtown workers might not be back. But to try to get a handle on the possibilities, host Mason King talks with IBJ real estate reporter Mickey Shuey, JLL’s Adam Broderick and restauranteur Ed Rudisell about the shifting downtown office market and the businesses that depend on it.
Downtown office market set to shift as firms rethink space
A Salesforce decision to permit employees to work remotely even once the pandemic subsides could have long-lasting effects on the downtown office market.
Children’s Museum lawsuit over Drake moves ahead amid talks with developer
An effort by the Children’s Museum of Indianapolis’ to overturn the city’s designation of the Drake apartment building as a historic property has been transferred to federal court—even as the organization continues working with city officials on a plan to salvage the building.