Mass Ave on the road back with Bottleworks as anchor
There are about 115 retailers and restaurants along the street, plus dozens of service-oriented businesses and office users.
Commercial Real Estate
Articles
Local developer plans $50M in projects for two former Drury-owned hotel sites
Indianapolis-based KennMar LLC acquired the former Caribbean Cove water resort property on the city’s north side and another Drury hotel site at Interstate 465 and West 71st Street.
Proposed $48M apartment project advancing slowly at former Noblesville granary site
Developer Flaherty & Collins Properties was approved for up to $7.3 million in industrial recovery tax credits for its plans to build 238 apartments, a parking garage and retail space at the site, but the project has seen little progress since 2018.
Real Estate Weekly: News notes, 04/20/21
These news notes appeared in IBJ’s Real Estate Weekly on April 20, 2021.
Bargain outlet opening in former Keystone Marsh store
The new Ollie’s store will be the fast-growing Pennsylvania-based chain’s fourth Indianapolis-area location, taking the site of the first Indianapolis-area Marsh grocery store.
Indy electrical contractor planning to move 150 jobs to new $18M Greenwood HQ
Indianapolis-based Electrical Repair & Maintenance Co. Inc.—better known as ERMCO—unveiled plans Tuesday afternoon to build a headquarters in Greenwood where it will employ 170 workers.
Real Estate Weekly: News notes, 04/13/21
These news notes appeared in IBJ’s Real Estate Weekly on April 13, 2021.
Family-owned Turkish, Mediterranean eatery identifies Indy as best place to grow
The family behind Usta Turkish and Mediterranean Restaurant, slated to open in Broad Ripple by the end of the month, scouted several options for moving once it was forced to close its location in Bloomington, Illinois.
Charter school buys former Tindley buildings on east side for $5M
The Indianapolis-based GEO Foundation will make one building the new home of its Next Generation High School and lease the other to elementary charter school Indy STEAM.
Supply of available Indy-area homes plummets in March while sale prices rise
With the dramatic decrease in available listings, the median price for homes sold in the 16-county area in March rose 8.4%, to $226,500, compared with $208,865 in March 2020.
Hybrid workers mean more ‘hoteling’ in offices
Given the revolution in staffing, it’s safe to say office redesigns will deal with two new normals—accommodating fewer full-time workers and making workspaces more resistant to the spread of disease.
Planned $3M project would turn historic church into coworking space, restaurant
Ohio-based COhatch is planning to redevelop a 167-year-old former church building in Zionsville known as The Sanctuary, which previously housed the art gallery of late artist Nancy Noel.
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.
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.