New judicial center would set off an office exodus downtown
New justice center would clear swaths of offices, raising vacancy rates at a time when the market is struggling.
Commercial Real Estate
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Ten-acre parcel near Colts stadium hits the market
The vacant property west of Lucas Oil Stadium could get a boost from redevelopment efforts at the former GM stamping plant site just across White River.
Construction blitz in full swing around Ball State
With less than two weeks until the start of classes at Ball State University, businesses in Muncie that will cater to students are racing to complete their building projects.
REI Investments agrees to buy site of former GM stamping plant
The local developer plans to purchase the entire 102-acre property, which has been earmarked for a 15,000-seat outdoor concert venue and the city’s new criminal justice complex.
Two-hotel tower proposed across from fieldhouse
A Minneapolis developer wants to build two high-end hotels in the same 15-story building on a surface parking lot downtown across from Bankers Life Fieldhouse.
Acquisition costs contribute to Kite quarterly loss
The company’s loss of $5.1 million in the second quarter was mostly due to costs from its $1.2 billion acquisition of Inland Diversified Real Estate Trust early this month, the Indianapolis-based company said.
Duke Realty reports strong quarterly results
Duke Realty Corp. saw a surge in revenue, profit and funds from operations in the second quarter compared with a year ago, the Indianapolis-based real estate developer said late Wednesday afternoon.
Shopping mall owner offers $5.6B for competitor
Klepierre SA, which is partly owned by Indianapolis-based Simon Property Group, has offered to buy Dutch competitor Corio NV to solidify its position as Europe’s second-largest publicly traded-shopping mall operator.
Former piano factory burns down in Muncie
Old building also had been used as chemical distributorship.
Developer pitches 5-story office building for Broad Ripple
A local developer plans to build a five-story office building on the site of a closed American Legion post in Broad Ripple.
Simon profit jumps on improving occupancy, rents
The company reported a 20-percent increase in profit in the second quarter as occupancy in its malls climbed to 96.5 percent, prompting Simon to raise its guidance.
Kite Realty to engineer 1-for-4 reverse stock split
The move will hike the real estate firm’s stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.
UPDATE: Lowe’s to invest $20.5M in customer-service center
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
Interactive Intelligence set to break ground on $12.5M building
The 119,000-square-foot structure will be built next to the software developer’s headquarters on the northwest side as part of its growth plans to add 430 employees within the next few years.
Well-known east-side Mexican eatery closes
El Sol de Tala, a staple on East Washington Street for several decades, shut its doors earlier this month amid a court dispute between the restaurant's owner and his landlord.
Spec distribution center fully leased in Anson
A joint venture between developers Browning Investments Inc. and Duke Realty Corp. announced July 15 that Chattanoogo Tenn.-based Kenco, a third-party logistics provider, has taken the remaining 257,000 square feet.
State to scope downtown block for new offices, parking
The Office of Management and Budget will study a state-owned parcel just north of the Statehouse, potentially to house the judiciary and provide more legislative office space.
Seventy-lot subdivision slated for Fort Harrison property
The proposed Residences of Lawrence at Fort Ben subdivision would be the first single-family project on the former army base since it closed in 1995.
Simon VP dies in Greenwood plane crash
William Michael Gilliland of mall developer Simon Property Group was piloting a single-engine airplane that lost power moments after taking off from an airport Friday.
Butler to build new residence hall, parking garage
The projects are part of a larger plan to add more student housing, possibly construct a larger facility to house the university's business school and renovate existing academic buildings.