$8M project slated for Fall Creek Place
The development would be built on land at East 22nd and Delaware streets owned by King Park Development Corp. and would feature 47 market-rate units and 9,000 square feet of retail.
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Simon sees jump in cash flow, sunny skies ahead
Simon Property Group Inc., the largest U.S. mall owner, on Friday reported a 22-percent jump in second-quarter funds from operations and increased its full-year forecast as rising employment helps lure shoppers.
Double 8 closes four remaining grocery stores
Declining revenues were too much of a challenge to overcome, the local grocer said in a statement. The chain opened its first store in 1957.
Giant Eagle drops plans to demolish historic Cumberland church
After a drawn-out battle with the town of Cumberland, Giant Eagle said that it won’t pursue plans to demolish the St. John United Church of Christ to build a gas station and convenience store on the property.
Owner of 3 Indiana casinos sells real estate in $4.7B deal
The deal will create a combined real estate investment trust that will own 35 casino and hotel facilities in 14 states, including three in Indiana.
Indianapolis-area office market showing signs of a rebound
Stronger absorption in the metro area is pushing vacancy down and rental rates up, mid-year office reports show, even though downtown’s vacancy rate remains above 20 percent.
Suit over Simon tactics details Ann Taylor arm-twisting
New York-based Ann Taylor has provided nearly 30,000 pages of documents in response to discovery requests related to why it signed a lease in 2006 to open a Loft store in a competitor's shopping center, only to reverse itself two years later and instead open at Simon Property Group's nearby University Park Mall.
Vacant IPS buildings draw bids from developers
Five of the six buildings that Indianapolis Public Schools put on the block last month have attracted offers, with bidders appearing to lean toward renovating several as apartments.
South Bend real estate firm launches local office
Bradley Co. has entered the market by bringing on board David Reed, who launched another firm’s office in Indianapolis before it became part of a large multi-brokerage acquisition.
Westfield gateway development to include four-story hotel
A development on the southwest corner of U.S. 31 and State Road 32 in Westfield could include a four-story hotel and several other retail buildings.
$17M Marriott hotel in works near Lucas Oil Stadium
An Illinois-based developer has received the first approval necessary to build a 140-room extended-stay hotel downtown, as Indy’s lodging market continues to swell.
Castleton Park acquired by New York real estate investor
One of the city's largest and oldest office parks has been sold. Castleton Park, a 120-acre property containing 31 office buildings, was acquired by New York-based Group RMC, a real estate management company.
Developer soars with ‘special needs’ housing niche
Gary Hobbs and his wife, Lori, have built BWI LLC into a fast-growing developer of affordable housing with 48 employees and more than $10 million in annual revenue.
Former downtown eyesore attracting tenants following major rehab
A 32-unit apartment project on Capitol Avenue, formerly known as the Di Rimini, is leasing up as new ownership finishes fixing all the flaws.
Downtown’s Landmark Center sells for $23 million
New Jersey-based Fairbridge Properties bought the 12-story downtown office building from Ambrose Property Group, which purchased it out of receivership and invested $8 million in renovations.
Developer pins comeback on $11B project
Sidelined real estate developer Christopher P. White is hoping to make a triumphant return with an $11 billion—yes, $11 billion—proposal for the GM stamping plant site and areas surrounding it.
Library hires first architects for $58M in new branches, upgrades
Trustees have selected Indianapolis architectural firms to design the first two of six new branches scheduled to be built between 2016 and 2022.
Report: Simon attempts to sell holdings in rival Macerich
If true, the move could signal that Indianapolis-based Simon Property Group no longer is interested in acquiring the rival shopping-mall owner.
GM plant property goes back on block
A big chunk of the former General Motors stamping plant site near downtown will go back on the market July 1 now that the city’s plans to build a criminal justice center there have fallen through.
Mixed-use Anson gains momentum after slow start
The Great Recession put the $1 billion Duke Realty Corp. project years behind schedule, but progress picked up again in 2011 and 2012. A tipping point for momentum was the long-anticipated Meijer store’s opening in 2014.