Simon Property raises outlook after solid third quarter
Simon Property Group Inc. on Thursday raised it outlook for the rest of the year after surpassing analyst expectations in a key quarterly performance category for real estate investment trusts.
Commercial Real Estate
Articles
Former ITT Tech building to be reborn as church, co-working space
A Carmel-based church plans to close on its $1.8 million purchase of the building near Interstate 465 and Michigan Road on November 5.
Recycling company plans $6.5M warehouse redevelopment in Irvington
A Quincy, Illinois-based company has acquired a warehouse on the east side of Indianapolis and plans to transform it into an 81,000-square-foot recycling facility.
Airport board approves $21.4M land sale for Infosys campus
The airport will sell 132 acres to the city of Indianapolis in phases over the next several years. In turn, the city will sell the property to Infosys for pennies so it can create a $245 million training campus.
IBJ Podcast: Developing a downtown neighborhood from scratch
Ambrose President Aasif Bade is mum about Amazon but explain the new name for the project, when site preparation could begin and why the riverfront is so important to the project.
Developer ready to pull trigger on massive redevelopment of GM site
Ambrose Property Group's mixed-use development, to be known as Waterside, is expected to cost $1.4 billion, more than double the firm's original estimate of $550 million.
Precedent Office Park getting new name, $6M-plus in amenity upgrades
The new owners of Precedent Office Park—a landmark business park on the north side of Indianapolis—are planning several amenity upgrades that take advantage of the property’s 38-acre lake.
Hotel developer plans $356M project at busy Indiana interchange
White Lodging announced Tuesday that 40 acres would be redeveloped to include an event center, hotels, restaurants, an office building and housing.
Carmel to buy shopping center near City Center for $15M
The Carmel Redevelopment Commission has an agreement in place to purchase the shopping center, a deal that will allow the city to raze the existing building and develop another project.
Kite Realty Group makes first CFO hiring since 1999
Heath R. Fear has been named executive vice president and CFO of the Indianapolis-based real estate investment trust, replacing Dan Sink, who stepped down June 30 after serving as Kite’s CFO for almost 20 years.
Big gymnasium in downtown corporate campus to be demolished
The owner of the 40,000-square-foot gym says upgrading the facility would cost tens of millions of dollars, and that the cost to maintain it is greater than the property’s value.
Bank, restaurant vacating downtown tower as work gears up for new hotel
The street-level retail tenants in One North Penn are preparing to either relocate or close for good as the office building’s transformation gets under way.
IBJ Podcast: Can Indy support its downtown hotel boom?
Host Mason King talks with Mark Eble, the managing director of CBRE Hotels Advisory and an expert on the hotel industry in the Midwest, to find out.
UPDATE: Developer lands first office tenant for Bottleworks project
An Indianapolis-based company that launches tech firms said Thursday it would move its office from the 14th floor of the historic Circle Tower on Monument Circle to the Bottleworks District in summer 2020.
Indianapolis developer plans to move headquarters to Carmel
A multifamily development and management company has filed plans to build a 37,000-square-foot office building in the Meridian Corridor to serve as its new headquarters.
IBJ real estate panel talks apartments, Mass Ave, Castleton
Experts at IBJ’s Commercial Real Estate Power Breakfast said the fundamentals of downtown’s apartment market remain strong.
Fast-growing Garrett to build $20M Greenwood apartment complex in own back yard
The site for the 180-unit project is somewhat unusual—inside a business park that includes office buildings, a hotel, a Goodwill outlet store and the headquarters of The Garrett Cos.
Council panel OKs $16.7M in financing for $141M in Keystone Realty projects
Keystone Realty Group’s plan to spend $141 million on two high-profile downtown redevelopment projects passed a hurdle Monday night as an Indianapolis City-County council committee unanimously approved $16.7 million in financing to help fund the project.
Posh Intercontinental Hotel part of $141M redevelopment plan for two downtown buildings
Keystone Realty Group is in line to receive financing help from the city for an ambitious plan that would overhaul two nearly vacant office properties near Monument Circle and bring a prestigious Intercontinental Hotel to Indianapolis.
Whitestown acquires property along Interstate 65 for Little League HQ
The Whitestown Town Council on Wednesday approved an agreement to buy 135 acres that previously served as the longtime home of the Wrecks Inc. automobile salvage yard. Little League International is expected to use about 20 of those acres.