Local office, industrial markets continue hot streaks in first quarter
Vacancy rates in both sectors continued to shrink in the first quarter as office and industrial tenants consumed more leased space.
Commercial Real Estate
Articles
Online auto dealer Carvana to open 70-acre reconditioning center, create 200 jobs
Carvana got the green light to buy the land in the Mount Comfort area from struggling trucking company Celadon Group Inc., which last year abandoned plans to build a new headquarters there.
Simon Property shares rise on better-than-expected earnings report
Shopping center giant Simon Property Group Inc. on Friday reported a strong first quarter that exceeded analyst predictions.
First phase of Infosys’ $245M airport campus will be $35M training center
The ultimate project, to be developed in phases over the next several years, is expected to be a $245 million, 141-acre complex with 786,000 square feet of facilities.
Kite Realty takes quarterly loss, but tops analyst expectations
Indianapolis-based real estate developer Kite Realty Group Trust outperformed analyst forecasts with higher-than-expected revenue and funds from operations.
Duke Realty reports stronger-than-expected first quarter
The Indianapolis-based real estate investment trust exceeded analyst expectations for revenue and funds from operations.
Hospitality hotbed serving airport picking up two more hotel properties
The impending arrival of the full-service Embassy Suites with convention and banquet facilities may have attracted yet another hotelier to the critical mass of operators just west of Indianapolis International Airport.
Longtime Kite Realty CFO Sink stepping down after 20 years
Dan Sink, who helped lead Kite Realty Group Trust through its initial public offering in 2004, plans to step down as chief financial officer, the company announced Monday.
Developer plans 81 town houses, retail for Noblesville
KennMar LLC has filed plans with the city of Noblesville to develop 23 acres at the southeast corner of Hazel Dell Road and State Road 32.
Ground broken for $24M mixed-use development on Lafayette Road
The real estate project at 3500 Lafayette Road, called the Pyramids at 35 Hundred, is expected to feature 130 independent-living units for seniors and 15,000 square feet of commercial space.
Integrating criminal justice center is key to lifting Twin Aire neighborhood
Ensuring the $572 million criminal justice center connects with the surrounding neighborhood and doesn’t sit isolated presents a big challenge for project planners and community leaders.
Duke Realty seeks to build headquarters at Keystone at the Crossing
The publicly traded company wants to leave the Parkwood Crossing office park in Carmel and is requesting $2.9 million in the form of a bond issue from the city of Indianapolis to help finance a new headquarters.
Carmel postpones hearing on St. Vincent project after neighbors, officials demand details
Carmel has postponed a rezoning hearing on a developer’s vague plan to build a medical complex at 96th Street and Spring Mill Road for St. Vincent Health. Carmel officials say they won’t consider a rezoning without specifics about the project.
Proposed $15M rehab promises offices, vast rec center on Mass Ave industrial corridor
Stenz Construction Corp. is seeking a city tax break to help offset costs for reclaiming a ramshackle set of buildings and creating fitness facilities, climbing walls, and office and restaurant space, among other features.
Sears to auction off its Castleton Square mall store to raise funds
The Indianapolis store is among three in Indiana, and 16 total, that Sears plans to sell and lease back to generate cash for pension obligations.
Naked Tchopstix in Broad Ripple becomes Captain Sushi after sale
The new owner also operates Hirosaki, a Japanese restaurant in Avon that opened in 2016.
Bank of America building first local stand-alone center in Indy push
The bank has staked out the upscale Keystone at the Crossing submarket for a staffed, free-standing addition to its growing local operations.
Nora, developer reach settlement on controversial development
The settlement will allow developer Green Indy LLC to build a revised version of the so-called Alexander at the Crossing project that was initially denied by the Metropolitan Development Commission last year.
UPDATE: St. Vincent CEO confirms land option at 96th & Spring Mill
But Jonathan Nalli said the health system has no plans to build a $1 billion hospital complex.
Ivy Tech plans $43M in projects in Muncie
The school’s downtown campus will get $30 million in work, including a $17.2 million Downtown North Building to be constructed on the site of the former home of the Muncie Star Press.