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.
Commercial Real Estate
Articles
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.
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.
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.