Downtown condo association again files suit for building damage
Residents of the Hudson condominium complex are suing the owner after the latest round of problems caused $6 million in damage to the structure.
Commercial Real Estate
Articles
Colliers buys Summit, continuing commercial real estate shakeup
Real estate firm Colliers International upped its stake in the Indianapolis market by acquiring locally owned Summit Realty Group. At the same time, former Colliers affiliate Resource Commercial Real Estate has reverted to its original name.
Apartment developer plans $37M addition on downtown canal
The developer of the 9 on Canal Apartments project has disclosed plans for a $37 million second phase that would add 194 apartment units and more than 15,000 square feet of retail space along downtown's Central Canal.
Developer Alig to plead guilty to 2 felonies, pay restitution
Cornelius “Lee” Alig has agreed to plead guilty to two of 20 felony counts and pay restitution of $321,000.
Mass Ave industrial corridor poised for cleanup
An effort is underway to bring new life to a beaten-down stretch of Massachusetts Avenue just outside downtown that's filled with obsolete industrial buildings.
Developer building $30M project in Kokomo
Flaherty & Collins Properties is partnering with the city of Kokomo on an apartment and retail project in the heart of its downtown.
Large Noble Roman’s investor calls for sale of company
In a scathing letter to directors, Privet Fund LP said accountability is sorely lacking throughout the upper ranks of the company, which has a stock price languishing below $2 a share.
Q&A: Scott Harris, outgoing Speedway redevelopment guru
The outgoing executive director of the Speedway Redevelopment Commission waxes on the progress the town has made remaking its Main Street.
Fishers aims to revitalize aging Allisonville Road corridor
City officials say they recognize the need to revitalize Allisonville Road, and the area is a priority as the city creates a framework for the future through its comprehensive plan, which looks as far ahead as 2040.
$8.5M apartment project could help revive near-west side
The Westside Community Development Corp. is proposing to develop the 56-unit affordable housing project along Michigan Street as part of a larger effort to rejuvenate the area.
Hotels, retailers expected to follow Ikea to Fishers
Hundreds of acres of undeveloped land surround the 35-acre site the popular Swedish home furnishing company selected—land now ripe for new projects. And in other communities, hotels, restaurants, retailers and even tech companies have followed Ikea stores.
CBRE’s three-year courtship of Sitehawk pays off
After becoming managing director in 2010 of the local CBRE office, John Merrill knew he needed to do something to improve the firm’s retail services. He soon set his sights on market leader Sitehawk.
From humble start, developer expands to 30 hotels
Since arriving in Indianapolis in 1989—to buy a Days Inn on the city’s south side—Bharat Patel has grown his portfolio to nearly 30 properties stretching from California to New Jersey.
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.
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.