Shares of Simon Property spinoff to begin trading
Washington Prime Group Inc., listed under the “WPG” ticker symbol, will begin trading Thursday. The new real estate investment trust will own 98 retail properties, including 13 in Indiana.
Commercial Real Estate
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Indiana cities getting money to fight urban blight
Indianapolis, Lawrence, Gary and two other Indiana cities have received a total of about $15 million to help eliminate blighted and abandoned homes.
Cornerstone sinks $4M into Carmel medical office building
The Indianapolis-based developer bought the building on Old Meridian Street early this year from The Spine Institute—its only tenant at the time—and now has the facility fully leased.
HDG Mansur affiliates file Chapter 11 to halt $5.8M judgment
The judgment in a New York court stems from allegations by a Sharia fund that the affiliates stole funds. HDG argued that it charged the additional fees to rectify a billing error.
Alexander hotel achieves LEED status
The Alexander Hotel at CityWay in downtown Indianapolis has achieved LEED certification from the U.S. Green Building Council.
HDG Mansur affiliate losing ownership of Market Tower
A Marion Superior Court judge on Tuesday entered a judgment to foreclose on the downtown building after MT Acquisitions LLC failed to pay its nearly $60 million mortgage balance.
Developer seeks abatement on $24M UIndy project
The University of Indianapolis has selected local developer Strategic Capital Partners LLC to build its health sciences center. To help offset its investment costs, Strategy Capital has requested a tax abatement valued at $2.5 million.
Developer seeks tax break for $11M medical office building in Fishers
Indianapolis-based Cornerstone Cos. Inc. is working on plans for an $11 million medical office building near St. Vincent and IU Health hospitals in Fishers.
Simon partner looks to buy out co-owners in expansion drive
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
Veteran real estate exec takes helm of DTZ office
David Reed, who once led CBRE’s local operations, has joined Chicago-based DTZ as a managing director, a post that will put him in charge of growing the company’s Indianapolis presence.
Circle Centre reports higher occupancy, lower revenue
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
Precedent Office Park owner cashes out at steep loss
The owners of the 19-building Precedent Office Park are poised to unload the massive property, but at a price much cheaper than what they gave nine years ago during the height of the real estate boom.
Design group honoring Ratio Architects founder
Local architect Bill Browne, president and founder of Ratio Architects, will be honored May 22 by the Interior Design Coalition of Indiana as its 2014 Legend IN Design recipient.
Kite Realty reports profit on soaring revenue
Revenue jumped to $42.7 million as more of the company’s retail developments became operational. Its acquisition of nine properties in November also contributed to the gain.
Duke Realty reports first-quarter growth in FFO
The Indianapolis-based real estate developer saw higher revenue and improved funds from operations, a common measure of performance for real estate investment trusts, in the first quarter.
First-quarter commercial real estate statistics for Indianapolis
Check out the latest office and industrial statistics.
Flaherty becoming mixed-use master
Developer’s Flaherty & Collins is gaining a reputation developing trendy projects, the latest of which is a 28-story retail and residential tower on the site of the former Market Square Arena.
Two downtown office towers poised to get new asset manager
Sam Zell’s Equity Group Investments would step in at Chase Tower and PNC Center, replacing a firm accused of conflicts of interest and underperformance.
Central Indiana home to 2 of state’s 10-most-endangered places
The Mills House in Greenwood appeared on the list for the first time, while the Anderson Athletic Park Pool made a return appearance. Indiana Landmarks unveiled the list at its Rescue Party Saturday night.
Council sues city over public safety lease deal
The City-County Council wants to force officials to produce documents relating to the controversial lease of the public safety operations center on the east side. It was vacated in September due to safety and health code violations.