Bank alleges developer owes nearly $16M for project near airport
The suit, filed Tuesday in Marion Superior Court by Evansville-based Old National Bank, claims Paul Kite and his firm owe the bank $15.8 million.
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400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
Town of Speedway announces plans for 25-acre project near I-465
The project is expected to include a 127-room Hampton Inn and conference center, a national grocer, restaurants and retail space, and possibly senior housing and medical offices.
Developer plans eighth floor, 39 more rooms for downtown hotel project
Original plans called for a 99,000-square-foot, seven-story building with 104 Moxy rooms and 102 AC Hotel rooms. The new plan includes 126 Moxy and 119 AC rooms in a structure of just more than 113,000 square feet.
Henke Development Group proposes massive real estate project in Lebanon
Westfield-based Henke Development Group is seeking approval for a 2,000-acre master-planned community with retail stores, apartments, an industrial park, a golf course and thousands of residential units along Interstate 65.
Simon Property holds deal talks with Taubman, sources say
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
Simon Property’s fourth-quarter performance exceeds expectations
The Indianapolis-based shopping mall giant topped analyst predictions for funds from operations and revenue in the latest quarter.
Judge orders mediation in fight between city, Ambrose over Waterside project
Marion Superior Court Judge Timothy Oakes said he does not believe the court system was the correct arena for the dispute, which he said is more of a business conflict than a legal matter.
Developer plans 384-unit apartment complex as part of 137-acre south-side project
Locally-based Sheehan Development is seeking approval to rezone land on the northwest corner of South Arlington Avenue and East County Line Road—directly east of Interstate 65—for a project with multifamily, commercial and light industrial uses.
Litz & Eaton sells three stalled properties to other developers
Indianapolis-based development firm Litz & Eaton Investments LLC—whose principals are entangled in several legal battles as part of a messy split—sold the properties to other companies who plan to move forward with developing the sites.
With restaurateur Brown out, Oesterle seeks new tenant for old 38th Street bank building
Local restaurateur Neal Brown has scrapped plans to open what he had planned to call Midtown Brasserie in a 73-year-old art deco building at 215 E. 38th St.
Bottleworks District project adds three more tenants, including fish-and-chips shop
The Harbour, YogaSix and Witch Hazel Salon will join a growing list of tenants for the first phase of the 12-acre, $300 million mixed-use development at 850 Massachusetts Ave., officials said.
Goodwill lands building donation for east-side Excel Center
Longtime commercial real estate executive Gene Zink has donated a 20,298-square-foot building at 3919 Meadows Drive to Goodwill. The Excel Center program has been leasing the 59-year-old former Bible college building near Rural and 38th streets since July 2011.
Bru Burger Bar picks Keystone Crossing site for 11th location
Plans call for the gourmet burger restaurant to occupy 4,855 square feet on the ground floor of a new office building, with indoor seating for up to 135 people and additional patio seating.
Tennessee company seeks to buy 20-acre Celadon site
If other bidders emerge for the property, an auction will be held Jan. 22 at the New York City office of Celadon’s bankruptcy counsel, DLA Piper LLP.
UPDATE: Church buys former Marsh in Broad Ripple for $7.6M, plans Midtown campus
The sale of the 6.6-acre property included the 57,000-square-foot store on Keystone Avenue. Traders Point Christian Church plans to create an 800-seat auditorium and spaces for children and teens.
Assembly Biosciences moves HQ from Carmel to California
The eight-year-old biotech startup is developing treatments for gastrointestinal disorders, and last year hired a new CEO. It’s unclear how many employees remain in Indiana, or how much longer the company will keep a local office.
Original Circle Centre tenant New York & Co. set to close
The closure will leave the downtown mall with only a handful of tenants who were part of the shopping center’s 1995 opening day store lineup.
Bankrupt Celadon plans to sell 102-acre campus
Most of Celadon’s real estate holdings in Indianapolis are on the east side, where available industrial land is in short supply. So, observers say, the anticipated divestiture should attract plenty of attention.
2019 YEAR IN REVIEW: Ambrose pulls out of GM stamping plant project
Ambrose had detailed plans in 2018 for a $1.4 billion, mixed-use development called Waterside—and said construction would start in 2019. But on Sept. 27, Ambrose said it planned to reposition its business and move away from mixed-use and office projects, including Waterside.