Hoosier Lottery to buy downtown building for $9.1M
The Hoosier Lottery has leased two floors of the building at 1302 N. Meridian St. since 2011.
Commercial Real Estate
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Owner of downtown’s Capital Center listing two-tower complex for sale
Zeller Property Group, which purchased the 648,000-square-foot property in 2018 for $63 million, has spent more than $18 million to revamp the property. But its occupancy rate is just 61%.
Foot Locker, sneaker brands among users of former Carson’s space during All-Star Weekend
The space will house numerous activities, including an interactive LED half-court, retail offerings, basketball clinics, footwear customization stations and athlete appearances.
Commercial-property loans coming due in U.S. jump to $929 billion
Nearly 20% of outstanding debt on US commercial and multifamily real estate will mature this year, requiring refinancing or property sales.
Merchants’ Square shopping center in Carmel sold to North Carolina-based firm
The sale of Merchants’ Square to Big V Property Group from Jericho, New York-based Kimco Realty closed Monday for an undisclosed amount.
California-based jeweler opening first Indiana store at Fashion Mall
Founded by the husband-and-wife team of Jason and Gorjana Reidel, the chain began its expansion in 2017 and now counts more than 60 stores nationwide.
The RoomPlace to close all six Indianapolis-area stores
The restructuring plan will allow the business to refocus its efforts on strengthening its 18 Chicagoland stores, a news release stated.
NBA weekend could be All-Star shot for downtown
Brokers are filling vacant retail spaces with corporate parties, personal events and an assortment of fan-focused pop-ups. They hope the crowds will want to return later for a fun night, a nice dinner or even office or residential space.
Menswear store to move to newly purchased downtown building with addition in the works
A couple whose custom menswear shop was looted during the 2020 downtown protests have doubled down on East Washington Street.
Developer unveils expanded plans for Lafayette Square after initial idea stalls
Fabio De la Cruz said if his vision is realized and partners participate as he expects, the total investment in the area could reach $700 million to $1 billion.
Office mandates don’t help companies make more money, study finds
New research suggests that office mandates can make workers less satisfied with their jobs and more likely to look for a new one.
CNO seeks buyer for 78-acre Carmel office campus with vision to redevelop site
The publicly traded firm, which said in June that it would move its operations to the OpenLane Inc. building at 11299 N. Illinois St., sees potential for residential and retail development and different kinds of office uses.
Motto hotel project in King Cole building delayed but still kicking, developer says
More than a year after the original projected completion, the $54 million hotel renovation project shows little evidence of progress. But work behind the scenes continues, the developer told IBJ.
DHL takes more space at Mohr Logistics Park in Johnson County
German logistics firm DHL Supply Chain is taking on another 130,000 square feet of warehousing space in Whiteland, marking the latest in a series of investments by the company in Johnson County.
Section of downtown’s Jail II building slated for demolition in revision of $120M redevelopment plan
The structural issues have thrown a curve at the rest of 1820 Ventures’ development plan for housing, retail and entertainment uses, requiring it to move a planned concert venue to another location.
Carmel to see flurry of completed real estate projects in 2024
Multiple new developments in Carmel are set to open in the coming months, adding to the city’s lineup of real estate projects that combine residential, business and retail spaces.
Judge orders asset freeze for shopping-center owner accused in SEC fraud case
A federal judge in Arizona ordered a freeze on the assets of Jonathan Larmore and his company, ArciTerra, whose holdings include seven Indianapolis-area shopping centers and scores of other properties around the country.
Arena, city hall among Fishers projects expected to be completed in 2024
The city will have new places to stay overnight and watch a hockey game. Fishers city government will move into a new home, and so will an Italy-based manufacturer.
Top Indianapolis development projects to watch in 2024
While most projects, such as Indiana University Health’s new hospital, Old City Hall and Pan Am Plaza, are efforts that will take years to come to fruition, other developments will begin to see substantive movement in the new year.
SEC accuses retail centers’ owner of fraud
The founder of an Arizona real estate company with scores of retail centers across the country—including seven in the Indianapolis area with a total of nearly 500,000 square feet—is facing federal allegations that he committed a $35 million fraud.