Fire destroys local truck stop, causing $4M in damage
Indianapolis fire officials have doubled the estimated loss from a fast-moving fire that destroyed a truck stop on the city's south side.
Commercial Real Estate
Articles
Mallard Lake property set for auction after decades of legal fights
The 254-acre Mallard Lake farm property became a well-known battleground in Madison County as the owner fought in court for more than 30 years to turn the property into a landfill.
Indy airport board cancels $500M medical plan; to reopen bidding
The Indianapolis Airport Authority board said it would “leave our options open and continue to search for the optimal project.”
Gershman buys Lockerbie Marketplace block downtown
A mostly historic four-building commercial property that encompasses an entire city block near Massachusetts Avenue has changed hands.
Salesforce’s McCorkle: ‘We’re going to hire 50 percent more people’
Speaking in a cafe his company recently opened in downtown’s Gibson Building, Salesforce Marketing Cloud CEO Scott McCorkle re-affirmed hiring plans and left the door open for the Connections conference to return to Indy.
IPS board postpones vote on proposals for Mass Ave site
Originally set to vote Thursday, board members decided they needed more time to examine proposals for redeveloping the former Coca-Cola bottling plant site and to get feedback from neighbors.
Airport chair delays vote on medical project, cites Hogsett concerns
Airport authority board Chairman Kelly Flynn sent an email Tuesday evening to other board members, telling them “we need to take a step back” on Athlete’s Business Network’s plan.
Lawmakers act to curtail ‘dark box’ property valuation method
There could be some relief in sight for local governments that were losing tax revenue due to the so-called “dark box” valuation method of commercial property in their counties.
Celadon eyes Mount Comfort for $20M headquarters
Publicly traded Celadon Group Inc. has had its headquarters at East 33rd Street and Mitthoeffer Road in Indianapolis since 1996. The company is looking elsewhere because that 40-acre site has no room for expansion and is landlocked.
‘Scrappy’ developer Ambrose winning big projects
The eight-year-old firm is set to break ground in the spring on a $45 million medical facility in Mishawaka for the U.S. Department of Veterans Affairs, is partnering with Old Town Development to build a $33 million headquarters for Allied Solutions LLC in Carmel, and soon will build a $20 million office building for Stanley Security in Fishers.
Blue Horseshoe planning $3.5M expansion in Carmel
The Carmel-based software firm announced plans Thursday to move into a new headquarters and add 70 highly paid employees over the next five years. Citimark is developing the three-story office building along the North Meridian corridor.
Member of ABN leadership team dropped from website
Athlete's Business Network, which wants to build a $500 million medical complex at the airport, had listed Scott Gorman as president of its substance-abuse unit. His name was removed after IBJ reported he did not hold a state license in addiction recovery or a college degree.
Washington Square is out for bid, but can the mall be rescued?
The 1.1-million-square-foot mall is adrift without a permanent owner or turnaround strategy. Now its lender is attempting to sell it.
Simon agrees to buy $1.1B mall in Las Vegas
The pending deal would help the Indianapolis-based real estate firm solidify its retail holdings in the tourism mecca.
TWG calls off plan for $39M Meridian-Kessler project
The local developer had wanted to convert part of a property owned by AT&T near Kessler Boulevard into a mix of apartments and retail but faced opposition from neighbors.
Architectural firm relocates to historic Fort Ben building
Curran Architecture has taken space in a 1908 structure that once served as barracks for enlisted soldiers, as activity continues to pick up at the sprawling former army base.
Local real estate market continues to strengthen
Leaders of Cushman & Wakefield pointed to several factors during the firm’s annual State of Real Estate outlook when providing their rosy forecast.
Hamilton County misses housing credits, jeopardizing 2 projects
The Indiana Housing and Community Development Authority picked 18 recipients to get $14.3 million in highly competitive low-income housing tax credits. Two Indianapolis-area projects were awarded funding out of 54 applications.
Drury Hotels tower might stretch 17 stories
St. Louis-based Drury said the new hotel would have 350 rooms spread between IBJ’s four-story building and a tower it plans to build on the surface parking lot next door.
Buckingham buys downtown Janus Lofts building
The historic building on South Meridian Street downtown is more than a century old and was redeveloped into apartments in 2003.