Architecture firm closing, renovated HQ on block
A2SO4 Architecture LLC has begun to wind down operations as a bank forecloses on a couple of construction loans for its new headquarters with a total balance of more than $1 million.
Commercial Real Estate
Articles
$80M project on tap for Keystone at the Crossing
A local developer plans to build a hotel, apartments, offices and retail space on the last two vacant parcels in Keystone at the Crossing.
Capital Center honored as outstanding building
Capital Center, a downtown twin-office-tower complex, has been honored with The Outstanding Building of the Year award for central Indiana by the Building Owners and Managers Association.
Mall giant Simon beating back perceptions of Internet threat
Brick-and-mortar retailers experienced a rough holiday season, and the doldrums continued through January—fueling hand-wringing among investors and other observers over whether the Internet has permanently diminished the American shopping mall.
City committee again delays vote on MSA tower’s financing
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins’ proposed $81 million high-rise project on the former Market Square Arena site.
Longtime Simon Property CFO stepping down
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world’s largest mall developer.
Simon purchases Long Island land from rival Taubman
Simon also purchased the company’s 50-percent stake in Arizona Mills Taubman received $230 million in Simon Property shares and $60 million in cash for the two transactions.
Simon posts strong quarter as mall occupancy strengthens
Occupancy in Simon’s malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
Leadership change afoot at Summit Realty
Bill Ehret, one of the firm's co-founders, relinquished his title as co-managing partner to Brian Zurawski, who joins Matt Langfeldt in leading the firm.
Duke Realty reports strong quarterly, annual results
The Indianapolis-based real estate developer said it earned a profit in both the fourth quarter and entire year after reporting losses in 2012.
New owner for 14 West building targeting another restaurant
A recently retired CEO bought the historic building at 14 W. Maryland St. After renovations, he hopes to attract a national chain to the space.
Westfield center brings nearly $3.6M
Marcus & Millichap listed the property at 701 E. Main St., which brought nearly $3.6 million, or 95 percent of the asking price.
Design of new downtown fire station to get first review
Construction of the new fire station on East 10th Street would help clear the way for a $43 million apartment and retail project on Massachusetts Avenue where the Indianapolis Fire Department’s headquarters now stands.
Foes of $25M Broad Ripple project go to court
The local group wants a judge to overturn the city’s decision to grant zoning variances for the apartment-and-retail project. In the meantime, developer Browning Investments is moving forward with its plans.
Developer donates 50 acres near airport for preservation
Holladay Properties says it's donating the land valued at about $4.3 million to the Central Indiana Land Trust.
Carmel upstart fights nursing home moratorium
Nursing home companies went on a building spree in Indiana, and now most of them want the Legislature’s help reining in high operating costs brought by over-capacity.
Cassidy Turley offers upbeat outlook on local real estate
The city’s largest real estate brokerage predicts that 2014 will mark the first year the economy feels like it’s actually recovering, as all sectors of the commercial real estate market continue to improve.
Upstart developer battles nursing home establishment
Mainstreet Property Group CEO Zeke Turner, the son of Republican state Rep. Eric Turner, is fighting a bill that would halt construction of nursing homes in Indiana.
Aldi gets go-ahead to build store in Greenwood
Aldi has purchased the land on Indiana 135 where a Pizza King restaurant and Dannemiller True Value store sit. The company will tear down the buildings to accommodate the new grocery.
Two of three Pyramids buildings to open following main break
Water issues have caused numerous problems for businesses around the city in the wake of this week's winter storm.