Real Estate Weekly: News notes, 05/04/21
These news notes appeared in IBJ’s Real Estate Weekly on May 4, 2021.
Commercial Real Estate
Articles
Simon no longer managing day-to-day operations at downtown’s Circle Centre mall
Property management firm JLL sent a letter, dated April 21, to tenants to inform them that it had taken over mall management and said it is in the process of hiring a general manager for the property.
Real Estate Weekly: News notes, 04/27/21
These news notes appeared in IBJ’s Real Estate Weekly on April 27, 2021.real estate
Inside the tussle between two of Indy’s retail icons
The fate of a Steak n Shake that has been a fixture in Nora for more than 40 years may rest on how much slack a local judge will give the Indianapolis-based company. But a court ruling against the company could clear the way for a new Crew Carwash.
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.
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.