Simon profit dips but outlook improves
Simon Property Group Inc. on Wednesday said its third-quarter profit fell due to recent costs related to refinancing its debt, but that otherwise performance for the quarter was strong.
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Lauth planning 900,000-square-foot distribution center in Brownsburg
The local developer hopes to lure a tenant for the massive warehouse in its Eaglepoint Business Park while the project is underway.
New Hilton brand coming to downtown’s Illinois Building
A Canopy by Hilton will occupy the historic building just a block from Monument Circle as part of chain’s launch of the new brand in 11 cities.
Zeller buys downtown’s Market Tower out of foreclosure
The Chicago-based real estate firm bought the 30-story tower in a sheriff’s sale after the owner defaulted on loans totaling $60 million.
Cambria hotel in works near Westfield’s Grand Park
A Cleveland-based development group intends to build a $17 million, 150-room Cambria Suites hotel along 186th Street across from Westfield’s burgeoning youth-sports complex.
Hotel developer planning project near Hamilton Town Center
A hotel developer based in Columbus, Indiana, is working on plans to build a Holiday Inn Express Hotel & Suites near Hamilton Town Center in Noblesville. Could more hotels be coming down the pike?
Developer seeks tax break for downtown hotel project
Developers planning a new Home2 Suites by Hilton in downtown Indianapolis are asking the city for a property-tax break on the project that could save them more than $650,000.
Contractor investing $1.6M to create local HQ near downtown
Messer Construction Co. is rehabbing a pair of buildings on North Meridian Street that it bought earlier this year.
General Hotels buys Columbus Courtyard Marriott
The acquisition by the Indianapolis-based hotelier brings its portfolio of central Indiana properties to 13.
$20M project on tap for Mapleton-Fall Creek area
The planned $20 million senior housing and retail project could help breathe new life into a blighted neighborhood that’s sorely in need of investment.
HDG Mansur owner files Chapter 11 bankruptcy
Harold Garrison filed the reorganization just as a trial was set to begin Monday over a $5.8 million judgment.
Cassidy Turley brokerage to become part of DTZ
With 32 local licensed brokers, Cassidy Turley is the city’s second-largest commercial real estate brokerage, trailing only Summit Realty Group.
Butler selects CBRE to lease retail space
Butler University has retained CBRE to lease 15,000 square feet of retail space that will be built on campus along with a 1,000-space parking garage.
Former Shapiro’s in Carmel sells in $2.1M cash-debt deal
A year after rejecting a pair of offers for the former Shapiro’s Delicatessen on Range Line Road, the Carmel Redevelopment Commission on Wednesday accepted a $2.1 million bid from principal City Center developer Pedcor Investments LLC.
Developer plans $9.1M project on Fountain Square parking lot
City officials have selected Deylen Realty’s proposal to build a five-story apartment-and-retail project on a surface parking lot the city has owned for years.
Four-story addition proposed for Mass Ave. office building
Gershman Partners, which bought the Marott Center less than a year ago, wants to build the addition on an adjacent surface lot.
Ambrose plans $90M distribution development in Plainfield
Ambrose Property Group has acquired 85 acres near the Indianapolis International Airport where it plans to spend $80 million to $90 million to develop two distribution centers as large as 1 million square feet each.
Prospective Salesforce tower spurs proposal, concerns
News that Salesforce.com wants a signature office tower downtown already has sparked an overture from one developer, shined a spotlight on available sites, and triggered fears about the impact on office vacancy rates.
Second suit filed over Wal-Mart PCB contamination
The class-action suit seeks compensation for any worker injuries resulting from exposure to PCBs discovered in the retailer’s return center on the east side.
ExactTarget parent wants to build office tower in Indianapolis
The CEO of Salesforce.com, which purchased ExactTarget for $2.5 billion last year, told IBJ on Tuesday morning that the firm was looking for the right opportunity.