Movie theater, bowling combo proposed for Carmel
Frank Theatres CineBowl & Grille would include 16 lanes of bowling, 10 auditoriums, a video gaming area, and a restaurant featuring indoor and outdoor seating.
Commercial Real Estate
Articles
Environmental firm expects big growth in new HQ on hot corridor
EnviroForensics has spent $3 million to buy and renovate a new headquarters a few blocks north of its current location on North Capitol Avenue.
Council gives city say in $260M Mass Ave project
The city will have one year to negotiate a project agreement with Hendricks Commercial Properties, which has proposed a $260 million development on the lot at the corner of College and Massachusetts avenues, or be forced to buy the property from IPS.
Colts sign new lease for airport hanger after paying for improvements
The Indianapolis Colts organization is getting a break on rent for its 20,000-square-foot hanger at Indianapolis International Airport after doing some rehab work.
Fishers gets clearance to open airport land for offices, manufacturing
Fishers officials have drafted a plan to market 211 acres at Indianapolis Metropolitan Airport for commercial development. The Indianapolis Airport Authority gave its blessing Friday morning.
More malls turning to unconventional tenants to fill vacancies
Most U.S. malls are still dependent on department stores to draw customers, but with consumers doing more shopping online, retail centers are increasingly relying on restaurants, entertainment amenities and even medical facilities to attract traffic.
New owner of downtown office towers plans $5M in upgrades
Mission Peak Capital sees a big upside in spiffing up the buildings near Cummins’ new office project and a planned 28-story apartment building.
New Broad Ripple co-working space set to open next month
The Hatch plans to target creative types with its art studios, recording booths, green screens and more. It’s slated to open in early August.
Developers of $50M Mass Ave project drop billboard from design
Plans for a controversial three-story “digital canvas” have been dropped from the Mass Ave development’s design. Developers also replaced the Montage on Mass name with a different one.
Speedway pivots development focus to western border
Two developments totaling $50 million are in the works on the western edge of Speedway as officials look to create a gateway into the town from Crawfordsville Road.
Firm redeveloping ex-Coca-Cola plant faces daunting preservation challenges
A specialist in terra cotta will assess the integrity of the structures and suggest options that could range from on-site reinforcement and preservation to off-site storage and eventual reconstruction.
Zionsville rejects proposed $30M downtown mixed-use project
The potential development, known as 200 West, would have included a mix of single-family homes, multifamily housing and a commercial section on a 4.3-acre property to the west of Sycamore and Main streets.
Feeling nudge from Fishers, Fortville aims to attract more businesses
Fortville in Hancock County has been a sleepy, one-stoplight town for years. But officials suspect that’s about to change, based on Fishers’ swelling population, and are preparing accordingly.
Developer plans $20M apartment project on Fountain Square block
Nearly an entire city block in Fountain Square soon could be redeveloped, with five old buildings getting torn down and a new five-story project springing up with retail space and 94 apartments.
Paradise Bakery & Cafe in Chase Tower to close Friday
Paradise already had indicated to its landlord that it wouldn’t renew its 10-year lease for the 4,700-square-foot space, which expires next year.
After report of Kite deal, CEO of Glimcher resigns
Retail real estate firm WP Glimcher denied last week that it was in talks to merge with Indianapolis-bases Kite Realty Group Trust. Now its CEO is gone, and directors are reevaluating its portfolio.
City taking bids for more Union Station repair work
The Department of Metropolitan Development is soliciting bids for masonry, roofing, skylight and steel work at the 130-year-old downtown landmark.
Plan for downtown concert venue on old GM plant site called off
REI Investments, the Carmel-based developer who had been under contract to redevelop about half of the site into a $30 million concert venue, has mutually agreed with owner RACER Trust to terminate the plan.
Suit seeks class-action status against Simon for overtime practices
Two former guest-services managers at shopping malls in Illinois and Oklahoma have sued Indianapolis-based Simon Property Group, claiming the retail property giant violated the Fair Labor Standards Act.
Zionsville loses 10-year-long Wal-Mart showdown
A decade-long struggle by Zionsville to keep a big-box retailer outside the town’s boundaries might be coming to an end, with the Boone County town on the losing end of the battle.