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.
Commercial Real Estate
Articles
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.
Browning/Duke building huge Plainfield distribution facility
The speculative building totaling more than 930,000 square feet will be constructed at the developers’ AllPoints Midwest industrial park.
Buckingham reignites plan for Lantern Commons project
Buckingham’s plans for the property at U.S. 31 and 161st Street in Westfield show a mix of retail and residential uses.
Building spree reshaping Broad Ripple Village
A rush of new office, residential and retail projects suggest real estate developers in Broad Ripple Village remain optimistic in the midst of high-profile incidents of crime.
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.
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.