Mel Simon’s 2009 Pacers deal is wreaking legal havoc
Mel Simon sold his stake in the Indiana Pacers to his brother Herb in February 2009, seven months before Mel's death. Lots of legal questions are swirling around the deal six years later.
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Developer plans $110 million second phase of CityWay
The development plan by Buckingham Cos. consists of seven more buildings—including a nine-story tower—that will contain 450 apartments and 19,500 square feet of retail or office space. A parking garage also would be built.
Design of $50M Mass Ave apartment project wins approval
The Indianapolis Historic Preservation Commission on Wednesday evening approved the design of the five-story Montage on Mass apartment and retail project, but the building’s controversial electronic-mesh art display likely won’t be considered until next year.
Local Cushman & Wakefield office names new leader
A veteran Duke Realty Corp. executive is assuming leadership from Jeffrey L. Henry, who has led the office 15 years, a span that included a series of name changes.
Longtime Duke Realty CEO Oklak stepping down
The Indianapolis-based real estate investment trust said Dennis D. Oklak will retire at the end of the year as part of a succession plan and be replaced by the company’s chief operating officer.
Projects progressing along stretch of East 16th
Plans call for apartments, another restaurant from the owners of Tinker Street, and even a microbrewery or distillery.
CBRE expands local operations with acquisition of Sitehawk Retail
Sitehawk, whose roots date back to 1982 as The Linder Co., has been a leading retail brokerage in Indiana for several years. CBRE had been pursuing Sitehawk on and off for years, real estate sources said.
Kite Realty reports profit, bumps up earnings outlook
The Indianapolis-based real estate company said it had funds from operations of $43.9 million in the period, slightly beating Wall Street expectations.
Duke Realty sees higher profit on property sales
The Indianapolis-based real estate developer said profit increased amid a revenue decline in the third quarter with the help of property sales totaling $238 million.
Indiana Landmarks finds buyer for Glossbrenner Mansion
A local holding company plans to spend $400,000 to refurbish the historic home on North Meridian Street for office space.
Simon raises quarterly dividend, full-year forecast
A strong third quarter prompted Simon to boost its earnings forecast and raise its quarterly dividend to $1.60 per share, a 23.1 percent year-over-year increase.
Zionsville sells property near Creekside Corporate Park
After receiving no bids for projects for the southwest corner at 106th Street and Bennett Parkway, the Zionsville Redevelopment Commission has agreed to sell the acreage to Indianapolis-based Scannell Properties.
Downtown office market strengthening
The downtown submarket recorded its strongest quarter since late 2011 by absorbing about 110,500 square feet of space, which lowered vacancy to 18.8 percent, CBRE statistics show.
Rising occupancies spur downtown-hotel building boom
Hotel developers emboldened by downtown’s escalating occupancy rate are poised to bring about 800 more rooms to the market.
Embassy Suites, restaurants part of $35M Noblesville project
A seven- to eight-story hotel and 20,000-square-foot conference center are in the works for a $35 million mixed-use development just off exit 210 of Interstate 69 in Noblesville.
City block in Fountain Square on the market
The seven parcels on Prospect Street, which are available for a total of $1.5 million, could attract the area's next big apartment development.
Salesforce expanding downtown, seeking big block of space
Salesforce.com appears to have scrapped plans to build its own downtown headquarters building and instead is seeking a huge block of space in an office tower to satisfy its aggressive growth plans.
Irvington on the upswing with efforts to bolster commercial growth
Grassroots efforts by local residents have meant a boost in the number of restaurants and retailers in the historic Indianapolis neighborhood, which was once considered a suburb.
After final service, Cumberland church awaits likely demolition
The congregation of St. John United Church of Christ in Cumberland has held its last service at the historic structure and is moving to temporary space. After a battle with town officials over the fate of the church building, leaders say they likely will demolish it.
Mall owner that spurned Simon takeover makes $2.3B deal
Macerich Co. has agreed to sell minority stakes in eight U.S. malls for $2.3 billion to Singapore’s GIC Pte and property investor Heitman LLC.