PNC Center pitching backside as restaurant site
Retail brokers say the location, at Illinois and Maryland streets in the heart of downtown’s dining district, is sure to generate plenty of interest.
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Simon raises earnings guidance after strong first quarter
Indianapolis-based mall owner Simon Property Group reported higher profit and revenue on improving occupancy and rents at its properties.
Hampton Inn slated for Keystone at the Crossing
Construction on the 125-room hotel, part of PK Partners’ $80 million mixed-use development, should start later this year with an opening in 2016.
Menard to build northeast-side store on vacant-hotel site
The Wisconsin-based home improvement retailer will build a bigger store near Interstate 465 and Pendleton Pike to replace one nearby at Pendleton Pike near Shadeland Avenue.
Macerich faces investor pressure after spurned Simon offer
Land & Buildings Investment Management is teaming with fellow activist firm Orange Capital to push for changes at Macerich Co., the mall owner that rejected a $16.8 billion takeover bid from Indianapolis-based Simon Property Group Inc.
Fishers to buy $3.1M building for co-working program expansion
The city of Fishers is proposing to purchase a new building for its entrepreneurial co-working space that would triple the size of the facility.
Longtime developer Alig charged with 20 felonies
A Marion County prosecutor’s affidavit accuses the Mansur Real Estate Services co-founder of receiving $340,000 from several victims through a securities fraud scheme.
Small Broad Ripple condo project causing big concerns
The developer has trimmed the project west of College Avenue along the Central Canal from five units to three. But that has not enough to appease neighbors who say it’s too large for the property.
Sears to gain $114 million from real estate pact with Simon
Sears will transfer 10 properties valued at $228 million to a company that it will own jointly with Indianapolis-based Simon Property Group, the companies said Monday.
Ambitious Browning stayed for civic work
Michael Browning never envisioned he’d still be in Indianapolis after arriving nearly 40 years ago from South Bend. But the Detroit native and University of Notre Dame grad bought a business here and became one of the city’s biggest developers.
Hospital frugality drives health property shake-up
Instead of building new medical office buildings, cost-conscious Indianapolis-area hospital systems have the past few years opted for space in existing buildings.
‘Spite strip’ sidelines prime 13-acre parcel
A tract of land for sale at the northeast corner of Interstate 465 and Keystone Avenue has languished on the market for nearly four years despite its high visibility in one of the glitziest parts of the city.
Justice center bidding process yielded single eligible firm
After running a closed-door procurement in which the three bidders were allowed to shape the city’s final requirements for building the Marion County Justice Center, two proposals came in above the city’s ceiling payment of $50 million for the first full year.
Will manufacturers move back to urban centers?
Effort in Indianapolis will try to entice manufacturers to rethink areas they abandoned.
Simon Property retools growth plan after setback with Macerich
The company missed out on a rare opportunity that would have brought dozens of high-end malls into the fold, but it still has solid growth opportunities without the $23.2 billion deal, analysts say.
Muncie firm to hire 300-plus for new HQ by 2024
A-Son’s Construction Inc. plans to consolidate its operations into an existing structure whose location is under wraps for now.
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.
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.