Real Estate Weekly—Aug. 27, 2024
The following items were included in the Aug. 27, 2024, edition of IBJ’s Real Estate Weekly e-newsletter.
Commercial Real Estate
Articles
Real Estate Weekly—Sept. 3, 2024
The following items were included in the Sept. 3, 2024, edition of IBJ’s Real Estate Weekly e-newsletter.
Real Estate Weekly—Sept. 10, 2024
The following items appeared in the Sept. 10, 2024, edition of IBJ’s Real Estate Weekly e-newsletter.
Scannell planning to recast airfield on east side as part of 1.5M-square-foot industrial park
The project, tentatively named the Post Road Airport Business Park, would consist of 10 buildings across more than 138 acres, ranging from just 40,000 square feet to nearly 300,000 square feet.
A ‘very frustrating process’
Kleinhenz said while the goal remains to have a hotel at the site, the town is open to alternatives, including a mixed-use development with retail and apartments or a corporate headquarters. And he said the lack of progress on the site hasn’t exactly deterred activity elsewhere in town.
Credit union taking HQ to Bottleworks District
Indiana Members Credit Union has more than 160,000 members and 31 branches across the state. The company, founded in 1956, also employs about 525 people statewide.
Circle City Industrial Complex rebrands, lines up new tenants
Ten tenants, including two restaurants, are expected to open this fall in the newly named Factory Arts District.
IEDC still looking for buyers for portion of GM stamping plant property
Economic development leaders want the 45 acres to be developed as the OneHealth Innovation District—a partnership between Elanco Animal Health, Purdue University and the Indiana Economic Development Corp.
Capital Improvement Board set to buy Pan Am Tower for $10.5M
The CIB is buying the property as a strategic acquisition tied to the ongoing redevelopment of Pan Am Plaza.
City official lobbying Purdue to take portion of Monument Circle
Dan Parker, chief deputy mayor of Indianapolis, revealed at an IBJ event on Tuesday that he has pitched Purdue officials on locating some of its downtown operations in one of the two available buildings on the Circle.
Brunch spot, Indian restaurant planned at renovated Allisonville retail center
The new owner of Windermere Center at 62nd Street and Allisonville Road has switched strategies from developing new projects to buying existing retail properties, refreshing them and signing new tenants.
Carmel City Council questions need for apartments in Proscenium III project
Initial plans for the project include 151 apartments, a 125-room hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
USPS revving up operations in new, 1.2M-square-foot distribution hub on former Navistar site
The United States Postal Service could consolidate some of its Indianapolis facilities into a massive regional distribution hub opening later this year on the city’s east side, occupying land that formerly housed a Navistar plant for many decades.
IBJ Podcast: JW Marriott’s manager on surviving pandemic, saving March Madness and facing new competition
Phil Ray also weighs in on the new taxing district the city is considering for beautification and public safety efforts downtown, plus the city-funded construction of an 800-room hotel that would become the JW Marriott’s biggest competitor.
Developer tearing down six-story building by Glendale to build retail, office project
Demolition already has begun on the 56-year-old office structure, which was purchased out of foreclosure for $1.59 million. The developer envisions restaurant, retail and medical office tenants that will vibe with continued redevelopment along the Keystone corridor.
IBJ Podcast: Simons building hospitality ecosystem by fieldhouse with plans to add luxury hotel, concert venue
Here’s how plans for a $300 million complex with a luxury hotel and concert venue could vibe with Gainbridge Fieldhouse and Commission Row—not to mention the proposed soccer stadium a couple blocks to the east.
Simon family expands footprint near fieldhouse
For decades, Herb Simon’s downtown investment focused on owning Pacers Sports & Entertainment and managing Gainbridge Fieldhouse. But in recent years, Simon and his family have expanded their investments and holdings in downtown’s Warehouse District.
Demolition of downtown’s Jail I set to begin in October
A request for proposals from developers for the 2-acre site is expected to be issued in 2025.
Kite Realty gives new life to 65-year-old Nora Plaza
Five years after Indianapolis-based Kite bought the shopping center, the developer has invested in utilities, signage and infrastructure and is adding eye-catching tenants West Elm, Williams Sonoma and Bluemercury.
Pure Development co-owner sues partner, seeks liquidation of company
Indianapolis-based Pure Development has developed more than 35 real estate projects nationally and has a contract with the Indiana Economic Development Corp. to lead efforts on the LEAP Lebanon Innovation and Research District.