Meridian Hills apartment complex sells for $26.5M after 55 years with same family
The new owner plans to make a significant investment in improvements that likely will drive up rents that have languished of late.
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Indy Chamber eco-devo guru expects West 16th Street corridor to gain momentum
Portia Bailey-Bernard of the Indy Chamber says projects like the $60 million redevelopment of the Stutz business campus and the expansion of IU Health’s downtown campus will help reshape the northern portion of downtown.
New brewery set to anchor east-side art studio property
The brewery space will feature a 1,200-square-foot taproom with seating for up to 50 people and a 3.5-barrel brewing system.
Prominent Keystone Crossing office buildings sell for $34.2M
The acquisition by Felton Properties, which equals about $164 per square foot, marks the Oregon-based firm’s first venture into the Indianapolis market.
New Stutz factory owners planning $60M redevelopment
Plans call for the updated Stutz, purchased earlier this year by New York-based SomeraRoad Inc., to feature new event areas, co-working space, more retail and restaurant offerings, new outdoor spaces and an updated facade.
Not-for-profit legal services collective considers $7M HQ project in Zionsville
If Allies Collective chooses Zionsville, and the commission enters into a project agreement, the headquarters could create as many as 150 jobs paying an average of $41 per hour over the next six years.
Fast-casual Pickleman’s sandwich chain to enter market with Noblesville store
This will be the first Indiana location for Pickleman’s, a Missouri-based chain with 24 locations. The local franchisees plan to open a total of four Indianapolis-area stores over the next four years.
Developer plans $150M apartment, retail and hotel project at 96th and Meridian
Indianapolis-based Landmark Properties Inc. is in the early stages of a redeveloping the Meridian North retail and office center, but its plans are already meeting some resistance from neighboring residents.
Turner Woodard buys home of indoor karting complex in Speedway
The real estate investor and racing enthusiast has closed a deal with former IndyCar driver Sarah Fisher and her husband that will help them to continue growing their karting business.
Citing slow business, Patachou closes downtown’s Napolese restaurant
It first closed in March 2020 at the beginning of the pandemic and didn’t reopen until March of this year, in advance of the NCAA’s men’s basketball tournament, which took place mostly in Indianapolis.
Kite Realty upgrades outlook after strong second quarter
Indianapolis-based Kite Realty Group Trust this week upgraded its outlook for the rest of 2021 after beating industry expectations with its second-quarter financial performance.
Across from Bottleworks, contractor planning kindred project in Jungclaus campus
The owner of several buildings across Massachusetts Avenue from Bottleworks plans to redevelop the property in a similar but limited fashion with courtyards, residential units and new office and retail space.
After long delay, Beerded Swine opening in Lockerbie with meat, cheese, libations
Expected to debut by the end of September, The Beerded Swine is intended to be a sister shop to The Savory Swine in downtown Columbus.
Simon raises financial outlook amid improving business conditions
Indianapolis-based Simon Property Group Inc.—the largest owner of shopping malls in the United States—on Monday reported second quarter financial results that exceeded analyst expectations.
Big acquisition gives Kite Realty Group new markets, more clout for future growth
But the real estate investment trust might also face pushback from investors, largely because the acquisition follows five years of offloading dozens of debt-heavy properties.
UPDATE: Martin University sorting out real estate issues, preparing to draft strategic plan
The liberal arts school is taking a comprehensive look at its campus on the northeast side with an eye toward making it safer, streamlining traffic flow and anticipating future needs.
Sportsman’s Warehouse snares first Indianapolis-area location
The 112-store chain sells gear for hunting, fishing, boating, camping and other outdoor activities. The Indy-area store will be the its second Indiana location.
Incentives for multifamily project approved by council committee
The development, called 1202, would feature 105 units on a 1.1-acre parcel on the near-south side, with at least one-fifth of the units reserved for individuals making up to 80% of the area’s median income.
Kroger sells north-side plaza for $8.5M but agrees to remain tenant
A firm that specializes in real estate anchored by groceries has closed on the purchase a 104,678-square-foot shopping center dominated by a Kroger supermarket.
UPDATE: Kite Realty to acquire Illinois-based REIT for about $2.8B
The combination of Indianapolis-based Kite Realty Group Trust and Oak Brook, Illinois-based Retail Properties of America Inc. will create a company worth $7.5 billion that will continue to operate under the Kite name.