Circle Centre profit gets lift from eateries, IPS tax cut
The mall posted higher profit and improved sales per square foot in 2017, though retail observers say it remains at a crossroads following the closure of its last department store, Carson’s.
Commercial Real Estate
Articles
Plans for $40 million sports/entertainment complex in Greenwood called off
The proposed 60-acre commercial development has been taken off the drawing board after Indy Fuel owners Jim and Sean Hallett decided to drop plans for a $25 million sportsplex that was to serve as anchor of the project.
Historic building on East Washington Street primed for tech makeover
The vacant three-story structure dating back to the 1880s has a new owner, which plans to convert it to co-working space for technology companies.
Record store, book shop reopen in historic Irvington building
The two businesses closed this spring, but a new owner has purchased both shops and is reopening them under one name in the 96-year-old Irvington Masonic Lodge property, which also recently changed ownership.
Developer, Carmel VFW come to agreement on new hotel
A proposal to build an 88-room extended-stay hotel on Old Meridian Street in Carmel is gaining traction after city leaders and the neighboring Veterans of Foreign Wars Post 10003 had initially opposed it.
IPS considers selling downtown headquarters
The building, which sits on a 1.7-acre lot at 120 E. Walnut St., has served as the district's home since 1960.
Comedy club chain signs lease for downtown location inside Circle Centre mall
The owner of Helium Comedy Clubs says he saw lots of opportunity in the Indianapolis metro area, where at least two major comedy venues have closed since last fall.
Golf superstore in expansion drive to open 82nd Street location in former Babies ‘R’ Us
This will be the first Indiana location for Georgia-based PGA Tour Superstore, which currently has 33 locations and is growing quickly by securing sites vacated by Toys “R” Us and Babies “R” Us.
Simon hiring from within to replace departing CFO
Brian McDade has been with the retail real estate giant for 14 years, serving in various senior finance and accounting roles.
Real estate heavyweight CBRE moving from downtown to Keystone at Crossing
The city’s largest commercial brokerage has called downtown home for more than 35 years. It’s heading north to accommodate employees and consolidate offices.
IBJ Media moving to Monument Circle
The publisher of Indianapolis Business Journal and its sister newspapers plans to relocate in March to the Indianapolis Power & Light Co. headquarters building in the southeast quadrant of the Circle.
City set to pay $1.5M to review needs, reimagine presence downtown
All options are on the table for the city’s future use of the City-County Building, Old City Hall, the Marion County Jail and the 500-space East Market Street parking garage.
Real estate firm planning $8.5M office project in Fishers tech park
The building will serve as a gateway to the Fishers Certified Tech Park, which is home to Launch Fishers and the Indiana IoT Lab.
New 360 Market Square apartment tower leaves trail of liens, litigation
Downtown’s new 360 Market Square apartment tower is leasing up nicely, but the $120 million project continues to be plagued by legal disputes related to its construction.
Owners of failing malls ‘on their knees’ as buyers disappear
Only about $3 billion of retail real estate changed hands in April, a 27 percent drop from a year earlier and the lowest monthly tally since February 2013.
Under new owner, Fountain Square’s Wheeler building converting to market-rate housing
Core Redevelopment is buying the building, which houses 36 affordable-housing units, and plans to boost the number of apartments to at least 52 as part of the conversion.
Developer plans medical complex, hotel, restaurants off I-65
An Indianapolis-based developer is seeking approval for a 25-acre development in a high-profile location in Lebanon.
IBJ PODCAST: Cafe helps catalyze revival on Washington Street, reclaim lives
Maria Bertram had a great career as an engineer for Eli Lilly and Co., so why did she chuck it to open a little cafe in a distressed neighborhood?
Central Indiana Orthopedics moving forward with Fishers medical campus
The orthopedic care provider plans to build multiple medical office buildings in Fishers as part of a new 37-acre health care-focused business park.
Two projects poised to reshape Mass Ave area
The Indianapolis Historic Preservation Commission has approved the projects—a four-story condominium building and the other a six-story office building. Both would feature ground-level retail space.