The collapse of Toys “R” Us Inc. is yet another blow for landlords—including Indianapolis-based Simon Property Group—who now will have gaping holes of suburban retail space up for grabs. And few tenants would want them.
Only the Pan Am Plaza and a city-owned parking garage on Illinois Street jump out as prime locations for the mega-hotel Visit Indy wants downtown, hospitality industry observers say.
The $110 million Yard at Fishers District will feature about 15 restaurants, including two St. Elmo-owned concepts; a Sun King tasting room; a dual-branded hotel; and hundreds of apartments.
Council member Colleen Fanning said the action gives neighbors another chance to have their say in a redevelopment proposal that could affect what’s been deemed Haverstick Woods.
City and tourism officials had requested proposals for a hotel that would rival the 1,004-room JW Marriott and include ballroom space integral to attracting more conventions to the city.
The Carmel-based developer and operator of senior care facilities blamed high start-up costs and a challenging reimbursement environment for decision to pull out of Arizona.
The segment crashed in the financial crisis that began in 2008, forcing banks to write off billions of dollars in loans. But it’s roared back since, and last year national commercial real estate lending surpassed its 2008 peak.
The $70 million price marks a whopping 75 percent increase over the $40 million the previous owners paid to buy the property in early 2016.
Heartland Food Products Group said it plans to leave its offices at Clay Terrace for a bigger headquarters within 18 months. The move would allow the firm to add about 130 employees.
The long-vacant P.R. Mallory building on East Washington Street is closer to becoming occupied, after plans to bring the Purdue Polytechnic High School there stalled over higher-than-expected renovation costs.
As part of its local downsizing, Angie’s List has signed a lease to occupy four floors of a historic downtown building, becoming the largest tenant in the 12-story office tower.
The local developer has been awarded nearly $900,000 in incentives for a senior housing project in Cumberland that will be built near the church, which was once slated for demolition.
Flaherty & Collins, which is wrapping up its $120 million 360 Market Square apartment project in Indianapolis, has reached a development agreement for a $75 million mixed-use project in the Cleveland suburb of Cleveland Heights.
Starbucks Corp. Chairman Howard Schultz said he sees a blessing in all the retail vacancies across the United States—landlords are beginning to reduce rents.
A local ownership group has filed plans to construct a 250,000-square-foot office building with a 40,000-square-foot grocery store, in addition to a parking garage and smaller office building.
The local Halakar real estate firm no longer is affiliated with Newmark Knight Frank, which has poached a former Halakar co-owner to start an Indianapolis office.
Neighbors contacted about selling their homes to make way for the development say St. Vincent Health is behind it. But a St. Vincent spokeswoman said the organization does not have “details to share” at this time.
KSM Consulting, part of Katz Sapper & Miller, is moving half of its employees downtown to a redesigned space just above street level on the city’s highest-profile real estate.
Bill Oesterle and a group of investors have agreed to purchase the 17.5-acre site on the near-east side and could close on the deal in March.
The owner of Circle Centre has sued the franchisee at least twice before. The sweet pastry purveyor then signed a 10-year lease extension in 2016.
