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.
Commercial Real Estate
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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 The offer will be withdrawn if Simon is unable to meet with Macerich to negotiate terms of an agreement by April 1.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.
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.
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.