New owner plans to carry on Metro’s LGBTQ legacy on Mass Ave
The owner of Mass Ave sushi restaurant FortyFive Degrees purchased the 7,200-square-foot Metro bar and restaurant in May.
Commercial Real Estate
Articles
State agency denies permit to build warehouse complex on south-side wetlands
Indianapolis-based developers Gershman Partners and Citimark are seeking to develop a five-building warehouse complex on the property, but a permit denial affecting just a quarter-acre of the project could sideline the development.
Proposed taxing district for downtown MLS soccer stadium to run gauntlet of city votes
The City-County Council’s Rules and Public Policy Committee on Tuesday will hear the Hogsett’s administration’s case for creating the professional sports development area, with scrutiny by the full council to follow on June 3.
City faces challenges, new considerations in effort for MLS
Although the possibility of a Major League Soccer stadium in Indianapolis is still up in the air, city officials are considering design possibilities for their preferred site, on the east side of downtown.
Marion County health care agencies plan east-side investments
This summer, the Health and Hospital Corporation of Marion County will break ground on a multiyear, $170 million facilities improvement plan—the largest investment in the agency’s structures in decades—beginning with a new public health lab.
Township to revitalize abandoned cemetery, accept remains from Diamond Chain site
Keystone Group revealed late Wednesday that archaeologists have discovered 87 remains in the excavation of a six-acre portion of the former manufacturing site.
Purdue, Elanco to develop shared-use facility at new innovation district in Indy
Elanco also announced a commitment to purchase an additional 12 acres to the north of its planned headquarters for future expansion and the development of the Epicenter for Animal Health.
Real estate listings: May 21, 2024
The following construction projects and sale and lease deals were included in IBJ’s Real Estate Weekly newsletter on May 21, 2024.
Developer plans $16.4M hotel next to growing Crawfordsville business park
The 100-room hotel is planned for a parcel next to Crawfordsville Commerce Park, which got off to a slow start about two decades ago but recently has landed some major tenants.
Drugmaker Novartis to expand nuclear medicine factory near airport, creating 55 jobs
Novartis Manufacturing LLC told a committee of the City-County Council on Monday evening that it plans to spend up to $125 million to construct and equip a 79,000-square-foot-building for radiopharmaceutical manufacturing and distribution on the city’s west side.
Are tacos and burritos sandwiches? A judge in Indiana ruled yes.
A developer of the shopping center property wanted to allow the Famous Taco restaurant to open there, but a nearby condominium association raised concerns that the business violated the property’s zoning policy.
Timeline firming up for converting Gold Building to apartments as construction costs climb
Last month, city officials and the two developers reached a tentative deal for addressing key elements of the overhaul of downtown’s City Market block, including reskinning the Gold Building and renovating the adjacent Ohio Street parking garage.
IEDC seeks sale of 51 acres at former GM stamping plant site
The Indiana Economic Development Corp, in a request for proposals, said it hopes to sell the property along the White River by the end of September, most likely to a master developer.
Sam Ash Music to close all stores, including Castleton location
The announcement comes just more than a month after Sam Ash said it would close 18 of 44 stores as part of a company restructuring meant to make the company stronger.
Owner of historic building in possible MLS stadium development area says she won’t sell
A proposal to develop a Major League Soccer stadium on the east side of downtown Indianapolis is facing some early resistance from the owner of a historic property in the heart of the proposed development area.
City reveals new taxing district map for proposed MLS stadium
The map specifies more than 120 non-contiguous addresses throughout downtown that would be incorporated into a new professional sports development area, or PSDA.
Hendricks closes on $85M purchase of Circle Centre Mall
Hendricks Commercial Properties—the developer of the Bottleworks District—plans to spend at least $600 million to convert the nearly 30-year-old mall into an open air, pedestrian-focused retail, office and residential district.
Non-alcoholic bar Memento Zero Proof Lounge closes in Fishers
Memento co-owner Max Gavin told IBJ the bar at the First Internet Bank building at 8701 E. 116th St. closed due to a lease issue.
Lilly’s $3.7B manufacturing campus in Boone County starting to take shape
The company plans to develop at least 12 buildings totaling more than 1.6 million square feet. The project is expected to anchor the LEAP Research and Innovation District northwest of Lebanon.
Sugar Factory faces eviction at Circle Centre after allegedly failing to pay $300,000-plus in rent
New York City-based Sugar Factory opened in April 2022, replacing the Palomino restaurant that had occupied the space for 23 years. An eviction hearing is set for May 1.