Area office market set to end year on high note
Occupancy rates and asking rents are among the key indicators that continue to improve.
Commercial Real Estate
Articles
Old Greenwood city hall acquired, lands tenant
Cornerstone Autism Center plans to hire about 30 employees in the next year in the 96-year-old Polk Building, which is undergoing a major rehab by its new owner.
Finish Line expecting $44M charge related to JackRabbit decision
The Finish Line Inc. on Tuesday confirmed a two-week-old report that it was looking to rid itself of its underperforming JackRabbit chain of specialty running-shoe stores.
Florida cigar bar commits to high-profile Circle Centre corner
Burn By Rocky Patel has agreed to take 5,500 square feet at the corner of Meridian and Maryland streets as mall operator Simon Property Group continues to fill spaces left by the departure of Nordstrom.
After slow stretch, Southport’s commercial core sparks with new projects
Sophia’s on Southport Road near Madison Avenue is opening ahead of a big expansion for a dental claims processor and the construction of an $11 million senior living facility.
$7M project restores luster of storied office tower
Banker J.F. Wild had the limestone building constructed in 1923 to house his growing financial institution. Developer Loftus Robinson has just spent two years reversing decades of neglect.
Star Plaza Theatre in northwest Indiana to remain open
The owners of a 3,400-seat theater in northwest Indiana that has featured top entertainers such as Bob Dylan, Jerry Seinfeld and Chris Rock have changed plans and won't demolish the facility.
Founders of The Kitchen opening bistro on Mass Ave
The yet-to-be-named restaurant will occupy 5,500 square feet in Gershman Partners’ Marietta building under construction next to the Marott Center.
Developer aims to convert historic downtown building into 110-room hotel
The firm has purchased One Jackson Square and is in discussions to brand it a Canopy by Hilton. The fate of first-floor restaurant tenant Ike & Jonesy’s has yet to be determined.
Indiana Landmarks raises $60K to fix, preserve historic clock
A fundraising campaign to restore the 80-year-old "Ayres clock" mounted on the corner of Circle Centre mall at Washington and Meridian streets has been a success.
Kite takes quarterly loss, matches FFO expectations
The Indianapolis-based real estate investment trust on Thursday posted revenue of $89.1 million in the period, up from $87.1 million last year.
Fishers won’t let Ikea fuel retail blitz
Local officials are taking steps to preserve the vacant land surrounding the 35-acre Ikea site near Interstate 69 and 116th Street for office development.
Duke Realty exceeds expectations with third quarter results
The Indianapolis-based real estate investment trust topped analyst predictions for revenue and funds from operations.
Simon Property raises annual outlook after strong quarter
The Indianapolis-based real estate company reported higher occupancy and rental rates at its shopping malls in the third quarter.
Marsh Supermarkets HQ building on block for $28.6 million
Marsh said it will continue to lease the 25-year-old building from the buyer until Nov. 21, 2026, at an initial annual rent of more than $2.8 million.
Construction under way on Celadon’s new $24M headquarters
The trucking company will move from the east side of Indianapolis to Mount Comfort in Hancock County, where it will have room to grow and better access to Interstate 70 for its drivers.
Wurth Service Supply expanding, moving to Greenwood with $11.5M project
The distribution company, currently located on the north side of Indianapolis, is building a 230,000-square-foot facility in Greenwood’s Southpoint Business Park.
Indianapolis airport to sell 6.4-acre site to local developer
The Indianapolis Airport Authority on Friday also heard about plans to add hundreds of new public parking spaces at the airport in coming months.
Pittman family dispute escalates with new lawsuit
Mark Pittman, son of late heart surgeon and developer John N. Pittman, filed a lawsuit Oct. 14 in Hamilton County against his siblings and family-owned entities involved with The Bridges, a retail development in Carmel that includes a Market District grocery store.
Judge limits expert testimony in Simon Property antitrust suit
The Indianapolis-based mall developer faces accusations that it used its massive influence to pressure retailers to sign leases at its mall in Mishawaka instead of in a competitor’s property.