Developer unveils expanded plans for Lafayette Square after initial idea stalls
Fabio De la Cruz said if his vision is realized and partners participate as he expects, the total investment in the area could reach $700 million to $1 billion.
Commercial Real Estate
Articles
Office mandates don’t help companies make more money, study finds
New research suggests that office mandates can make workers less satisfied with their jobs and more likely to look for a new one.
CNO seeks buyer for 78-acre Carmel office campus with vision to redevelop site
The publicly traded firm, which said in June that it would move its operations to the OpenLane Inc. building at 11299 N. Illinois St., sees potential for residential and retail development and different kinds of office uses.
Motto hotel project in King Cole building delayed but still kicking, developer says
More than a year after the original projected completion, the $54 million hotel renovation project shows little evidence of progress. But work behind the scenes continues, the developer told IBJ.
DHL takes more space at Mohr Logistics Park in Johnson County
German logistics firm DHL Supply Chain is taking on another 130,000 square feet of warehousing space in Whiteland, marking the latest in a series of investments by the company in Johnson County.
Section of downtown’s Jail II building slated for demolition in revision of $120M redevelopment plan
The structural issues have thrown a curve at the rest of 1820 Ventures’ development plan for housing, retail and entertainment uses, requiring it to move a planned concert venue to another location.
Carmel to see flurry of completed real estate projects in 2024
Multiple new developments in Carmel are set to open in the coming months, adding to the city’s lineup of real estate projects that combine residential, business and retail spaces.
Judge orders asset freeze for shopping-center owner accused in SEC fraud case
A federal judge in Arizona ordered a freeze on the assets of Jonathan Larmore and his company, ArciTerra, whose holdings include seven Indianapolis-area shopping centers and scores of other properties around the country.
Arena, city hall among Fishers projects expected to be completed in 2024
The city will have new places to stay overnight and watch a hockey game. Fishers city government will move into a new home, and so will an Italy-based manufacturer.
Top Indianapolis development projects to watch in 2024
While most projects, such as Indiana University Health’s new hospital, Old City Hall and Pan Am Plaza, are efforts that will take years to come to fruition, other developments will begin to see substantive movement in the new year.
SEC accuses retail centers’ owner of fraud
The founder of an Arizona real estate company with scores of retail centers across the country—including seven in the Indianapolis area with a total of nearly 500,000 square feet—is facing federal allegations that he committed a $35 million fraud.
Hogsett says mall redevelopment among downtown’s most significant wins
The mall redevelopment is not the largest downtown project in terms of cost. But it will elevate a vast and critical piece of real estate as more than $9 billion in other downtown projects are slated to come to completion over the next decade.
Cafe, gathering space planned for historic Danish church in Fletcher Place
The founders of Lille Bonne envision it as a coffee shop, as well as a venue for yoga classes, art classes, live music, speaking events and private meetings.
Alabama firm buys Keystone, Greenwood shopping centers for $27.5M, seeks more upscale targets
The company’s primary investment focus is unanchored shopping centers located in more affluent areas of major cities. Its founder sees Indianapolis “as one of the most attractive cities in the Midwest.”
Indy’s retail real estate market is bouncing back after pandemic
Indianapolis-area brokers are bullish on the future of the local retail sector as occupancy rates grow in the aftermath of the pandemic and demand for space outstrips supply in some suburbs.
Irvington Plaza redevelopment project moves forward after planning delay
The approval of a new plat map for the nearly 16-acre property in the 6200 block of East Washington Street comes as California-based developer Tallen Capital Partners LLC begins the process of developing a new master plan for the site.
High-end Proscenium apartment property in Carmel changes hands
A 196-unit mixed-use apartment and retail development in Carmel has been sold in a deal brokers called one of the most notable—and complex—sales of the year in the metropolitan area.
Drake apartments property receives five proposals for reuse
The Department of Metropolitan Development in August issued a request for proposals for updating the long-vacant, city-owned building at 3600 N. Meridian St.
City board to consider new taxing district for Eleven Park stadium
The taxing district, known as a professional sports development area, or PSDA, would allow for the collection of various taxes to cover a portion of the cost for the 20,000-seat stadium.
Gray Brothers Cafeteria seeking franchisees for carry-out locations
The family-owned Mooresville restaurant that has become synonymous with comfort food in central Indiana wants to branch out into franchising. It projects startup costs for carry-out locations to be between $391,000 and $738,000.