Fast-growing logistics firm buys downtown Cannon IV building
FitzMark Inc. is spending about $4 million to buy and renovate the property in the Cottage Home neighborhood, as Cannon IV prepares to leave for the suburbs.
Commercial Real Estate
Articles
Jonathan Byrd’s diversifies, moves north
Jonathan Byrd’s has for years been quietly expanding beyond its successful restaurant and catering company in Greenwood. Now, it is shifting most of its attention to Hamilton County.
Changes in retail expand gulf between haves, have-nots
It turns out that Simon Property Group spun off its less profitable malls and zeroed in on high-end properties at just the right times. Analysts say middling malls are losing out as retailers decide where to pare locations.
With spotlight looming, REITs stressing investor education
Real estate investment trusts like Indianapolis-based Simon Property Group are preparing for a surge of attention as they get their own grouping in major U.S. stock indexes. Their first task: educating investors who have no idea how to evaluate the industry.
Speak Easy to make downtown’s Morrison Opera Place its second home
The not-for-profit co-working organization based near 52nd Street and College Avenue said it plans to open a location in the historic downtown building as soon as August.
Kite seeking zoning change for $15M-plus Carmel project
Kite Realty Group Trust is planning to turn the retail center on the southwest corner of 116th Street and Rangeline Road in Carmel “inside out.”
Retail REITs feeling shopping mall pain, except for Simon
Unlike some of its peers, Indianapolis-based Simon Property Group continues to attract star tenants such as Nike and Apple, command higher rents, and get attractive financing terms.
Meridian-Kessler church building revived as arts haven
The Indianapolis Opera and other arts organizations have found a home in the former Holy Trinity Greek Orthodox Church building on North Pennsylvania Street.
RoomPlace plans to reopen long-vacant Levitz store, warehouse
Lombard, Illinois-based furniture retailer RoomPlace has acquired the massive and long-vacant Levitz Furniture building on East Washington Street and plans to renovate it into a showroom and warehouse, city officials announced Monday morning.
Two tracks of negotiations helped seal huge Salesforce expansion
Tech talent and naming rights on the state’s tallest building were key factors that helped Indianapolis secure an 800-employee hiring commitment from Salesforce.com this month.
Not-for-profits join co-working movement
Hubs designed for not-for-profits have joined the local co-working craze as social leaders see opportunities to save money on office space and collaborate with groups in similar positions.
HDG Mansur examiner hopes to hit insurance jackpot
Bankruptcy examiner John Humphrey, who has been investigating potential claims against HDG Mansur founder Harold Garrison, is hoping for a big payout from the company's $5 million directors and officers liability insurance policy.
Pittman family properties in $2.4M estate could be auctioned
Heart surgeon John Pittman’s offspring have been feuding in court since September about how to handle real estate in Carmel and Zionsville.
Developer proposing 12-story student-housing tower downtown
Georgia-based Landmark Properties wants to build the project on a triangular surface lot along Indiana Avenue that it’s buying from a local developer.
Salesforce as top tenant makes tower more marketable, expert says
With Salesforce.com establishing a 250,000-square-foot regional headquarters in the soon-to-be-christened Salesforce Tower Indianapolis, the building should become much more alluring when its owner shops it for sale.
Salesforce plans to hire 800, attach its name to downtown tower
The tech company on Friday is expected to announce its intention to add hundreds of workers and sign a naming-rights deal for the state’s tallest building.
More filling: Craft brew craze adds body to real estate market
A study from CBRE says that by summer more than 50 microbreweries will be operating in the Indianapolis area and occupying space that otherwise might have remained vacant.
Developer Alig avoids prison time with plea deal
Prominent Indianapolis developer Cornelius “Lee” Alig, who pleaded guilty to one count of theft and one count of securities fraud, received a four-year suspended sentence Monday morning and was ordered to repay victims $321,000.
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.
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.