Bravo! restaurant closes, site up for sale
The demise of the Castleton restaurant follows the chain’s sale to a private equity group. Also this week: Kilroy’s, Becker Supply, Nurture, Purse Strings and more.
Commercial Real Estate
Articles
Local developer inks deal to buy 17-acre site from airport
The undeveloped site between Perry Road and Airtech Parkway is adjacent to the Shops at Perry Crossing and the Plainfield Commons shopping center.
Local industrial sector ‘healthier than it’s ever been,’ expert says
The red-hot Indianapolis industrial real estate sector is nearing all-time records in vacancy, construction and absorption, newly-released market reports obtained by IBJ show.
South-side revival: Inside the restoration of the 119-year-old Turnverein
Turning a former German social club and gym into the offices of a medical claims management organization and international travel insurance company was no small order—especially because the building had to remain more-or-less true to its original form to qualify for the federal Historic Tax Credit program.
Indianapolis theater to reopen as first-run movie house
Also this week: YUJO Ramen & Boba Tea, Taste of Dubai, Which Wich, Marco’s Pizza, Bovaconti Coffee, State of Grace
Residential real estate developer Onyx+East hires new chief executive
Kelli Lawrence had been a principal partner at Indianapolis-based multifamily development firm Cityscape Residential for the past six years.
Plans for downtown dual-brand hotel approved by IHPC
A 206-room, dual-branded hotel planned for a downtown parking lot won approval Wednesday night from the Indianapolis Historic Preservation Commission.
City still has grand vision for GM site, despite unraveling of $1.4B Ambrose project
Ambrose’s withdrawal from Waterside follows other changes at the firm, including the May defection of three senior executives to start Westfield-based Patch Development.
City threatens to take GM stamping plant land from Ambrose by eminent domain
The letter from the city’s corporate council to Ambrose says that to “avoid the delay and expense of a court process, we would welcome the opportunity to begin negotiation acquisition of the property immediately.”
Indianapolis Zoo secures 28 acres of land for expansion
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
Plans for King Cole Building call for $21M redevelopment, Motto hotel
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Ambrose is mum, but experts say it likely ran into financing problems for $1.4B Waterside
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.
Jimmy John’s takes lead in King Cole exodus
The sandwich shop will move a few blocks away as a developer makes plans to convert the building into a hotel. Also this week: Native Bread, VetIQ and Paco’s Taqueria.
Pace planning 200-acre life-science business park by airport
The owner of Pace Air Freight, which specializes in truck transport of pharmaceutical products, is in the process of assembling land it doesn’t already own, including parcels owned by Indianapolis International Airport.
Indianapolis firms run away with honors at statewide design awards
The top two awards were taken by Indianapolis firms KRM Architecture and Haus-Architecture For Modern Lifestyles. CSO Architects won to wards, including honors for its interior design of the new IBJ Media headquarters on Monument Circle.
Developers planning $25M development on former brownfield site
The city has spent the past several years remediating the former railyard site and marketing it for potential development.
Medical consulting startup opens downtown office, plans 21 jobs
The company, founded last year, offers legal medical consulting and medical product consulting to law firms, life sciences companies, and health and wellness businesses.
New office building planned for Nickel Plate District in Fishers
To incentivize the development, the Fishers City Council on Monday night voted to waive city fees associated with the project for up to 24 months.
Downtown’s E’laan apartment building set for sale, $5M expansion
An upscale apartment building in downtown Indianapolis is expected to be acquired at the end of this month by a local firm that is planning an expansion project that will almost triple the number of units in the property.
Circle Centre files suit against Granite City over lease default
According to the suit, Granite City failed to pay monthly rent and meet other obligations under terms of the lease for the 9,603-square-foot ground-floor space it occupied in Circle Centre until late last month.