Catholic order sells Tipton property that housed nunnery for century
The Sisters of St. Joseph recently finalized the sale of the 38-acre property to the Diocese of Lafayette.
Commercial Real Estate
Articles
Mainstreet Property sues state over nursing-home building ban
Carmel-based Mainstreet Property Group is suing the Indiana State Department of Health in a legal challenge to the state’s new moratorium on nursing homes and transitional care properties.
UPDATE: Apartments, parking garage planned on Mass Ave adjacent to Athenaeum
The mixed-use project would include more than 65 apartments, retail space and a 229-car garage on what is now a surface lot.
Kite Realty first-quarter results top analyst forecasts
Indianapolis-based Kite Realty Group Trust on Thursday reported funds from operations and revenue that beat the predictions of analysts.
Mass Ave project could aid revival of corridor cut off by interstates
A redevelopment of the prized IPS property along College and Massachusetts avenues would add more housing and retail options along the bustling corridor and push activity farther east.
Duke Realty sees quarterly profit shrink on lower revenue
Duke Realty Corp. on Wednesday reported a smaller profit on less revenue in the first quarter, but its results still met or exceeded analyst expectations.
Simon raises outlook on strong first-quarter earnings
The nation’s largest mall owner said funds from operations, a key measure of profitability, increased 15.4 percent in the first quarter while tenant rents grew.
152-room hotel pitched for south side of downtown
The owner of Tow Yard Brewing hopes to build the eight-story hotel, which would feature 6,000 square feet of retail and four levels of parking, next to the downtown microbrewery.
Teen retailer delisted as possible bankruptcy looms
Trading in shares of Aeropostale, the retailer with five stores in the Indianapolis area, was suspended Friday as the New York Stock Exchange made plans to delist the company.
Indy-area office space filling up, with more big tenants in wings
Research from one brokerage shows office vacancy in the metro area dipping to 15.6 percent last quarter, the lowest rate since 2008.
Transit center architect covets clean lines, eco-friendly features
The co-founder of Axis Architecture + Interiors says design is a collaborative, participatory process that’s based on research and listening.
IPS board chief recuses herself from Mass Ave land sale
To avoid appearances of a conflict of interest, Mary Ann Sullivan has removed herself from the bid process because of her husband’s ties to the two Milhaus bids.
Local CBRE office loses leader to another real estate firm
The Indianapolis area’s largest commercial real estate brokerage is searching for a new director with the departure of John Merrill to co-lead the local office of Holliday Fenoglio Fowler LP.
Big southwest-side industrial project begins approval process
The 2.2-million-square-foot development would add to the growing inventory of industrial buildings, which is causing vacancy in the sector to tick up.
Hancock Fabrics to close remaining stores
The Hancock Fabrics’ website is advertising a going-out-of-business sale online and in its stores, including those at 2192 E. 116th St. in Carmel and 8811 Hardegan St. on the south side of Indianapolis.
Old National moving local base to Monument Circle
The Evansville-based bank has secured space in the IPL Building and plans to relocate local executives and a downtown branch there this fall.
Speedway looks to lure more development to Main Street
The town is accepting proposals to redevelop the last two parcels it owns on the street, which continues its transformation into a hub of retail activity.
Marketing firm plans new downtown HQ, to hire 20
Indianapolis-based marketing and advertising firm Matchbook Creative is spending nearly $1 million to establish a larger headquarters downtown and plans to more than double its work force by 2019.
$4.6M project in Franklin could help transform city’s downtown
The city is partnering with a private developer to turn a former factory building into condominiums, retail and event center space—one of several projects that could help revitalize its downtown.
Ruling: Simon must face antitrust suit from competitor
Indianapolis-based Simon Property Group must face an antitrust lawsuit from South Bend-based Holladay Properties, a federal judge has ruled.