East 16th area poised for more redevelopment
Three vacant structures at an intersection just north of East 16th Street have been purchased by two developers planning a mix of office and retail for the struggling area.
Commercial Real Estate
Articles
Macerich investors want more to clinch mall megadeal
Simon’s acquisition offer is only 6.6 percent higher than Macerich’s average price in the previous 20 days. One reason the premium looks miniscule is because Macerich’s stock had already jumped 24 percent since November on takeover speculation fanned by Simon.
Loss of FEMA grants in stadium dispute ripples across state
The Federal Emergency Management Agency announced last week that it had suspended the hazard mitigation grants for Indiana because parts of a Kokomo ballpark are being built in a flood-prone area that is supposed to remain green space.
Macerich, Simon shares rise on talk of acquisition
Macerich Co. shares had their biggest increase in three months Thursday morning after the Wall Street Journal reported that Simon Property Group Inc., the largest U.S. mall owner, has made approaches to buy the company.
Simon interested in acquiring West Coast mall owner
Simon Property Group Inc. has approached Santa Monica, California-based Macerich Co. about an acquisition after taking a stake in the company last year, sources say. Macerich, with a market value of $13.3 billion, has a high concentration of West Coast properties.
Strong local economy driving real estate sectors
Leaders of the local office of the DTZ real estate services firm delivered an optimistic message at the firm’s annual State of Real Estate outlook, as the city’s economy drives growth within the real estate market.
Fourth-quarter commercial real estate statistics for Indianapolis
IBJ’s Commercial Real Estate Focus sections include statistical snapshots of Indianapolis’ multi-tenant office vacancy rates and the local industrial market.
Loftus and Robinson making splash in development
Young team making a splash parlayed a painting job into projects extending to redeveloping the train station in Fishers.
Wisconsin firm pays $13.8M for Century Building downtown
A Wisconsin-based firm has purchased the downtown Century Building for $13.8 million from Zeller Realty Group, which bought the historic building out of foreclosure just over a year ago.
Cumberland ups ante in fight to save historic church
The town is appealing a decision that helps pave the way for a convenience store to be built where a historic church now sits and has hired a top real estate attorney to argue its case.
Wisconsin firm buys downtown Century Building for $13.8M
Hendricks Commercial Properties, which developed the Ironworks mixed-use project at Keystone at the Crossing, purchased the downtown office building from Zeller Realty.
21c seeks $9M loan from city to turn Old City Hall into $55M hotel-museum
The project, which would add a modern 150-room hotel to the historic downtown building, also hinges on approval of an $11.3 million federal loan through the U.S. Department of Housing and Urban Development.
Reeling developer dumps ‘worthless information’ on court
A judge ordered HDG Mansur chief Harrold Garrison to appear in court after creditors charged he is dodging their requests for information and filed a contempt motion.
Simon forming $1.8B joint venture with retailer Hudson’s Bay
Simon, the biggest U.S. mall owner, will contribute $278.5 million and have a stake of 20 percent in the joint venture with Canada’s oldest company.
Northwest-side office building sells for $14.3M
The 180,637-square-foot building, known as College Park Plaza, was built in 1998 and houses the headquarters of publicly traded Republic Airways Holdings Inc.
Bankruptcy, foreclosure filing dog Park Fletcher property
The new owner of 17 buildings in the southwest-side industrial park has filed to reorganize $12.6 million in debt as the lender seeks to foreclose.
Buyer of mostly vacant office complex scores 3 tenants
After buying 500 N. Meridian in June, Ambrose Property Group has snagged three major tenants from OneAmerica Tower.
Groundbreaking set for downtown’s Market Square skyscraper
Executives of Flaherty & Collins Properties will join city officials Wednesday to turn dirt on the site, kicking off construction of the $121 million, 28-story apartment project anchored by a Whole Foods store.
Cumberland church closer to demolition after city hearing
Plans to build a gas station and convenience store on the site of the historic church received a positive recommendation Thursday, moving the matter to the Metropolitan Development Commission next month.
House panel OKs much-revised Sunday alcohol sales bill
The proposal to legalize Sunday carry-out alcohol sales in Indiana now could force grocery stores and pharmacies to follow the same regulations as liquor stores.