Local apartment developer makes Inc.’s fast-growing list
The Garrett Cos. posted revenue in 2016 of $43 million, a more-than-2,000-percent increase from the previous year, helping the developer rise from 623rd in 2016 to 210th this year.
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Renovated building gives Mass Ave industrial corridor another lift
The Riley Area Development Corp. has purchased the nearly 120-year-old structure northeast of the Circle City Industrial Complex and hopes to lure micro-manufacturers to the space.
Indianapolis has pros, cons as potential Amazon HQ2 contender
Tech leaders, including Salesforce CEO Marc Benioff, think Indianapolis would be a great location for Amazon’s second headquarters. And, like other cities in the running, it has some strengths and weaknesses.
National real estate brokerage making bigger play into hot industrial market
The local office of Lee & Associates plans to more than double the number of brokers it devotes to the sector, as industrial vacancy remains solidly in the single digits.
Government center could close during asbestos removal
Members of the Madison County Council have asked the county administrator about the cost of shutting down the center in Anderson during the seven-month process.
Land bank adds commercial properties
City officials are turning to the not-for-profit Renew Indianapolis to market and sell industrial sites, adding to its responsibilities reaching far beyond residential properties and vacant lots.
East side’s Promise Zone hits big milestone by leveraging nearly $120M
The area on the near-east side is one of eight nationally to be designated for the program, which gives high-poverty communities a leg up in receiving assistance for revitalization efforts.
Simon sues Starbucks in bid to block mass Teavana closings
Indianapolis-based Simon Property Group, the country’s largest shopping mall operator, says in the lawsuit that Starbucks is breaching its leases by closing the Teavana stores and “shirking its contractual obligations.”
Owner of Five Seasons sports club puts north-side property on market
Corporex, which announced earlier this month that the fitness club would close on Sept. 30, is shopping the site as an opportunity for an office redevelopment.
Apartments planned for two former auto factory sites
A developer is working on a $13 million plan to build apartments where transmissions and automobiles were manufactured as far back as 1912 in Muncie.
Simon pays $945,000 to settle N.Y. antitrust probe
The Indianapolis-based real estate giant called the investigation "meritless" but nonetheless agreed to modify leases at a popular outlet mall near Manhattan that restricted tenants from opening a second location within 60 miles.
City to steer $500K into grocery development in low-income areas
The Hogsett administration plans to use federal grant funding to stimulate the development of one or more grocery stores and help eliminate food deserts.
Developer revives proposal for massive Fishers sports complex
The Fishers Sports Pavilion project was first introduced in April 2015, but construction never started. Now, a modified proposal with a $75 million price tag is heading to Fishers officials for consideration.
Tech activity driving downtown office demand
Vacancy continues to decline as Salesforce takes more space in the city’s tallest building and other tech firms put down stakes. And with the greater demand, rents are escalating.
Amazon, in another sign of growth, holds job fair to hire 40,000-plus
About 1,500 of those hirings are expected to take place at the company's Whitestown facility, northwest of Indianapolis.
Five Seasons sports club in Carmel to close in September
Company officials say the closure will be permanent and cost 84 employees their jobs. The decision comes a year after the owner of the club filed a request to rezone the property to allow for possible redevelopment.
Northeast-side apartment complex fetches $30.2 million
A Nashville, Tennessee-based company has acquired the 398-unit complex in Castleton and plans to invest $4.7 million in the property.
Simon Property tops quarterly estimates, raises full-year guidance
Shares in the Indianapolis-based mall owner rose in early-morning trading Tuesday after the company increased its quarterly dividend and its full-year guidance for 2017.
Changes coming to second floor of Salesforce Tower
Downtown Indy will move down from the 19th floor to take a portion of the space while the rest will be converted into a tenant lobby, featuring a bar and putting green.
Starbucks to close all Teavana stores as sales disappoint
Four of Teavana’s 379 locations—which will all shut down over the coming year—are in Indianapolis-area malls.