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.
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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.
Kite Realty reports better-than-expected 4Q results
Indianapolis-based Kite Realty Group Trust beat analyst expectations with its financial performance in the fourth quarter despite a decline in revenue and funds from operations.
IBJ Podcast: Turner Woodard talks saving the Stutz—and then selling the majority share
Woodard talked to host Mason King about his adventure restoring the Stutz Business and Arts Center, about his decision to sell a majority share in the complex and what the new owners have in store for the buildings.
Turner Woodard sells majority stake in historic Stutz property
The new majority owner says it plans to retain the Stutz property’s historic character but isn’t yet revealing details about its plans for the 110-year-old downtown complex.
Developer buys former HHGregg headquarters campus for $14M
The sprawling site includes more than 400,000 square feet of office, industrial and showroom space that was vacated after the consumer electronics retailer ceased operations in 2017.
Chicago-style pizza chain Lou Malnati’s confirms 86th Street location
The 86th Street location, the chain’s second Indianapolis-area store, is set to open this spring. Lou Malnati’s confirmed the location last year but until now had not specified when it planned to open.
Real Estate Weekly: News Notes 01/12/20
These news notes appeared in Real Estate Weekly on Jan. 12, 2020:
Food manufacturer plans $100M plant, 115 jobs in Indianapolis
It’s unclear what the announcement means for Greenleaf’s previously announced plans to build a $310 million plant in Shelbyville.
INCog BioPharma Services selects site, expands plans for Fishers manufacturing facility
INCog BioPharma Services has purchased 16 acres of undeveloped land in Fishers for its planned new biopharmaceutical manufacturing facility. The $60 million project has grown in size.