Two downtown office towers changing hands
The 36-story Regions Tower is selling in a negotiated transaction, and the 30-story Market Tower is getting a new owner via a loan default. They are among downtown’s largest office complexes.
Commercial Real Estate
Articles
Ideal owners needed for tricky north-side properties
Size and age complicate the sale of several prominent structures in Boone and Hamilton counties.
Simon estate in Carmel hits market for $25 million
The 106-acre property includes a 50,000-square-foot mansion and private, 18-hole golf course. Mel Simon and his wife, Bren, had been working on disposing of the home even before the billionaire’s death in September 2009.
Firefighters union hopes concession wins project OK
The union is promising to keep a parking lot it wants to build as part of an expansion at a key Massachusetts Avenue intersection in that use for just five years to help win approval of the project.
Self-made developer, Castleton pioneer Peterson dies at 84
Howard C. Peterson, an enterprising bricklayer who went on to build a prolific development company that transformed Indianapolis' north side with massive office complexes, died Friday after a long illness. He was 84.
Main tenant of former United hub staying on
Indianapolis airport officials hope to soon renew their lease with AAR Corp., the aircraft service company that is a key tenant in United Airlines’ former maintenance hub.
Two HDG Mansur creditors seek liquidation of the firm
The firms claim in court filings that HDG Mansur has no hope of reorganizing under Chapter 11 and is stalling to avoid paying a $5.8 million judgment.
Simon hands over Washington Square to lender
Simon Property Group Inc. has given up on the struggling Washington Square Mall, turning over control to a lender.
Mainstreet torques up expansion ambitions
Mainstreet Property Group, already the fastest-growing company in the Indianapolis area, now has the fuel it needs to nearly triple its pace of construction of senior care facilities around the country.
Residents of Packard condos settle suit with developer
Residents of downtown's The Packard condominiums have settled a two-year-old lawsuit with developer Kosene & Kosene Residential.
Engineers: Union Station requires $3.7 million in emergency repairs
The Department of Metropolitan Development could tap the downtown TIF fund to cover the costs. The problems were uncovered after bricks fell off the station’s south wall in December 2012.
Gatling Gun Club building proving to be tough sell
The building on North Illinois Street has been vacant since 2008. A downtown bar owner who acquired it nearly four years ago put it back on the market after giving up on plans to move her business there.
Real estate company proposing $26 million development
Becknell Industrial LLC has proposed a $26 million, three-building development on the northwest side of Indianapolis that would be ready for tenants by early 2015.
Good Earth exits appeal of Broad Ripple project
The $30 million development has been delayed by a request to repeal a zoning change for the property. Though Good Earth is no longer involved, a local resident is continuing his fight against the project from Browning Investments Inc.
Lender files to foreclose on downtown’s Villagio condos
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.
Contractor gets probation in prevailing wage case
Indianapolis construction contractor David Roark was sentenced Wednesday in Marion County Court to two years of probation after he was accused of violating the state's common wage law.
TOLLIVER: Warehousing, e-commerce merging in Indy area
As consumers, our need for instant gratification has never been greater, as evidenced by the rise of e-commerce. Shopping online and receiving an order that same day or the next is replacing the expectations of old, when we received our orders in a week or so.
Lender forecloses on two downtown office buildings
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county’s proposed criminal justice complex.
Mainstreet’s Turner to sell REIT in $2.3B deal
HealthLease Properties REIT, which is led by Mainstreet Property’s Zeke Turner, will be sold to Ohio-based Health Care REIT Inc., along with 17 projects Mainstreet has under construction. The deal includes 45 future projects.
Kite shares start trading under 1-for-4 split
Kite Realty Group Trust’s stock fetched $25 on Tuesday, an increase of more than 300 percent from the previous close, after the company’s split took effect.