Tom Wood Lexus hitches wagon to expansion trend
The project would add a second floor to the building on East 96th Street, increase the size of the service department and create a mezzanine for a “state-of-the-art” car wash.
Commercial Real Estate
Articles
Historic property on city’s southeast side on the market
The owner of a multi-building campus spread over 15 acres on the southeast side is accepting offers on the site that once served as an asylum and more recently housed low-income elderly residents.
Landlords face slowing price gains after U.S. records shattered
The Federal Reserve’s first interest-rate increase in nine years has removed a crutch that’s helped sustain 33 consecutive months of price growth of at least 10 percent.
Credit union plans to acquire former Meridian Music property
Indiana Members Credit Union is hoping to open a branch in the 18,000-square-foot, two-story brick building on Old Meridian Street in Carmel.
Local McAlister’s franchisee sells 19 restaurants
McIndy Ventures LLC, which opened its first McAlister’s in 2002 in Indianapolis, has sold its portfolio of eateries across Indiana to Tennessee-based Southern Rock Restaurants LLC.
Hyatt Regency’s lobby, eateries to get $1.3M makeover
The new owners of the Hyatt Regency Indianapolis decided its lower levels needed an overhaul and sharpened culinary focus.
Northwest-side retail center acquired for $6.5 million
Pyramid Place Shops is home to Georgia Reese’s Southern Table & Bar, Einstein Bros. Bagels, Noodles & Co., Qdoba, and Firehouse Subs.
Simon partner to buy Oslo shopping center for $578M
The Oslo City shopping mall in the Norwegian capital of Oslo has about 355,000 square feet of retail space and 366,000 square feet of offices.
Circle Centre losing three tenants, including two originals
Gap and Gap Kids, which opened along with Circle Centre in 1995, plan to close Jan. 26. Also on the third floor, the American Greetings card shop is shutting down at the end of next month.
Downtown Dunaway’s restaurant building attracts buyer
A local company bought the historic building at 351 S. East St., near the entrance of the Fletcher Place neighborhood, and plans to convert it into office space.
Gershman family taking on ambitious, high-profile real estate projects
The flurry of activity comes after Gershman transitioned to second-generation leadership and ditched its traditional bread-and-butter retail projects in favor of more modern mixed-use development.
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.
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.