Banquet hall in Fishers sold at sheriff’s sale
The Fishers Banquet & Conference Center was acquired at a sheriff’s sale Wednesday morning for just more than $1 million by an undisclosed buyer.
Commercial Real Estate
Articles
Developer to tear down former Star headquarters
TWG Development LLC has abandoned plans to save most of the headquarters after deciding that renovating the oddly configured structure would be too difficult.
Owners take advantage of hot office market to flip commercial buildings
Real estate investors are cashing in on the local office market quicker than expected as properties change hands at prices not seen since before the recession.
Simon Property plans $2B share buyback over 2 years
The Indianapolis-based landlord will either purchase the shares on the open market or in privately negotiated deals, Simon said.
Cumberland mounts last-ditch effort to save church
Town officials have contacted more than 50 developers to gauge their interest in saving the century-old building, which is in danger of being demolished to make way for a service station.
Indiana lawmakers back 3-year ban on building nursing homes
The state Senate voted 36-12 Tuesday to give final approval to the bill, sending it to Gov. Mike Pence.
Developer buys former Double 8 grocery in SoBro
An affiliate of PK Partners purchased the property at the southeast corner of 46th Street and College Avenue that for decades housed a Double 8 Foods store and is searching for a restaurant or retail tenant.
Simon wins $150M after long legal battle with 16 insurers
Simon Property Group has been awarded a major victory in a nearly five-year legal battle following a flood that severely damaged one of Simon's shopping malls in May 2010.
Indy Eleven could play soccer at IUPUI for 20 years
State Senate amendment shifts focus from new downtown stadium to refurbished Carroll Stadium.
Denison, Browning snap up Hendricks County parcels
Denison Partners has agreed to buy a one-acre parcel near the southwest corner of Interstate 70 and State Road 267, and Browning plans to buy 11.7 acres near the southwest corner of Washington Street and Ronald Reagan Parkway, an airport spokesperson said.
UPDATE: Simon increases bid for Macerich to $23B in ‘final offer’
By buying Macerich, the largest U.S. mall owner would expand its holdings on the West Coast and add top-tier properties that rarely come up for sale. The offer will be withdrawn if Simon is unable to meet with Macerich to negotiate terms of an agreement by April 1.
Fountain Square property values take off
Commercial real estate prices are skyrocketing in Fountain Square, where property owners seem emboldened by a resurgence of interest in the historic neighborhood southeast of downtown.
Delta Faucet planning $15M expansion of Carmel HQ
The four-story, 80,000-square-foot addition will serve as the Carmel-based firm’s public entrance and showroom, as well provide office space for future growth.
Simon seen likely to boost Macerich buyout bid after rejection
Macerich Co.’s rejection of a $16 billion buyout offer and adoption of takeover defenses leaves Simon Property Group Inc. with few options but to make a higher bid to win the mall landlord.
Macerich rejects Simon Property’s $22.4B takeover bid
California-based mall owner Macerich Co. has rebuffed an unsolicited takeover bid from Simon Property Group Inc., saying it substantially undervalues the company and raises antitrust concerns. Analysts and investors expect Simon will make a higher bid.
Fountain Square anchor building undergoing renovation
Bryce Caldwell plans to open an Italian restaurant called Pioneer on June 1, more than three years after his original plan to launch on New Year’s Day 2012.
David Simon tightens screws in quest for biggest deal yet
Analysts say Simon has reason to covet Macerich, whose 40 best malls have lofty sales per square foot of $618.
UPDATE: Real estate veteran Ehret opening office for Avison Young
Bill Ehret, who co-founded the largest commercial real estate brokerage in Indianapolis, has left the company to open a local office for global firm Avison Young Inc.
Deadline passes on deal to sell former Beech Grove hospital
Two Beech Grove officials said a $3.75 million agreement between Franciscan Alliance and Los Angeles-based DealPoint Merrill expired on Tuesday without closing, leaving the future of the mammoth campus in question.
Subdivision could replace golf course in Westfield
A new subdivision with 315 homes could displace a golf course in Westfield, but so far city officials and residents aren’t sold on the plan.