A consortium that includes Indianapolis-based Simon Property Group has offered a non-binding letter of intent to potentially purchase the majority of its stores and operations. Four Indiana stores are slated for closure, according to bankruptcy papers.
The owners of Indianapolis-based Small Victories Hospitality are closing their hybrid café/bar in Butler-Tarkington and brunch spot in Irvington and arranging for new management of Coat Check Coffee and Provider.
It’s a challenge hitting urban centers across the United States. Downtown office buildings are seeing their values plummet and vacancy rates climb due to space consolidation and a continued hesitancy toward renewals and new leases following the pandemic.
Plans call for the project to cost an estimated $47 million and feature a food hall, community gathering space, office space, apartments and a public parking garage.
Indianapolis-based TWG says it has all four of the parcels comprising the site under contract, pending city approval to rezone them from the current I-2 industrial classification to a more apartment-friendly designation.
Plans call for the project, named Allison Pointe, to be built on a 10.5-acre undeveloped parcel in a small commercial park just south of Interstate 465, north of 82nd Street and west of Allisonville Road, between Castleton and Keystone at the Crossing
Stehr has jumped into the job with a big-picture vision for addressing how to develop the land just south of Zionsville’s gingerbread-like downtown.
The $101 million project at 17 W. Market St. will include 170 rooms and a rooftop bar with views of the Soldiers and Sailors Monument. The opening will come some five years after Keystone first proposed the hotel.
2023 was a rollercoaster year for movie theaters. The overall U.S. box office was up 20% from the previous year, but still $2 billion shy of where the business was pre-pandemic.
Terminus is one of several elements of the $300 million Hobbs Station project, which will include housing, retail and office uses. The CEO of Terminus developer HSA Commercial Real Estate hopes the mix will attract tenants in sophisticated industries such as biotech.
As part of the resolution, Arconic Corp., Navistar Inc., and Ford Motor Co., agreed to pay the federal government without admission of liability.
Saks will end a 21-year run at The Fashion Mall at Keystone later this year, mall management announced Thursday.
A local developer plans to spend more than $12 million to build a trio of walk-up style apartment buildings along Delaware Street, just south of Fall Creek.
Overall, the discouraging picture has policymakers and economists keeping a close eye on small and midsize banks, which hold about 80 percent of the overall stock of commercial mortgage loans.
Hendricks Commercial Properties has spent more than $550 million to acquire and redevelop properties across Indianapolis and Carmel since 2013. But the Wisconsin-based firm says it’s just getting started with work it hopes to do here.
The 1.46-acre project is expected to consist of 262 apartments, a four-story interior parking garage with 323 spaces and nearly 35,500 square feet of retail, office and amenity space.
360 Market Square is among downtown’s most expensive apartment properties, with an average rent of $2,365 per month.
Initial plans for the South Village include about 250 residential units; 500,000 square feet of office space, retail, dining and public plazas; and parks and nature trails.
The structures and public spaces being erased from the site include the former Pavilion at Pan Am event center at 201 S. Capitol Ave. and the Pan American Plaza, making way for vertical construction later this spring.
Indianapolis-based Citimark has already leased about one-quarter of the old appliance retailer’s home at 4151 E. 96th St.—which it acquired in December 2021 for $14 million—to a pair of companies that will use their spaces for showroom, office and warehousing purposes.
