First-quarter commercial real estate statistics for Indianapolis
Check out the latest office and industrial statistics.
Commercial Real Estate
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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.
Broad Ripple landmark has new owner
Monon Housing Partners LLC bought what’s known as Mustard Hall near the southeast corner of Broad Ripple and Guilford avenues and is seeking tenants for the building.
Craft beer chain to open $2.5M Broad Ripple location
Called HopCat, the bar will anchor the long-vacant corner space in the Broad Ripple parking garage on the southwest corner of College and Broad Ripple avenues.
Brokers fear criminal justice complex could harm downtown
City officials and real estate professionals debated on Thursday the pain from moving jails, courts and other criminal justice functions to a proposed complex outside of downtown.
Banks whittle down Indy-area branches
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
Chatham Tap crew buying ex-church for brewery, restaurant
The owners of two popular pubs on Massachusetts Avenue are delving into the trendy micro-brewery business with plans for a brewery and restaurant in a historic former church a few blocks away.
Mainstreet aims to help finance nursing home through crowdfunding
Mainstreet Property Group LLC plans to launch a new round of private placement fundraising on April 21 using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana.
Report: State political leader had millions on the line
Documents show House Speaker Pro Tem Eric Turner earned nearly $8 million selling nursing homes in the last two years and stands to earn between $1 million and $2 million on projects now being developed, thanks in part to legislation he helped block this year.
Indianapolis office market shows rise in occupancy
The improvement was sparked by growing occupancy in the suburban office market, where the vacancy rate fell from 20.3 percent to 18.2 percent.
City christens Market East cultural district downtown
The area—roughly 14 square blocks—anticipates a passel of new development on and around the former site of Market Square Arena.
Chicago firm enters local industrial market with two big deals
CrossLake Partners spent more than $40 million to buy 21 buildings spread between the northwest-side industrial parks of Corporate Center North and Park 100.
Dora Brothers affiliate loses downtown hotel in bankruptcy
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.
IEDC urging government bets on spec-building
The Indiana Economic Development Corp. is encouraging local governments to help finance speculative industrial buildings, which could land new businesses but could put at risk hundreds of thousands in taxpayer dollars.
UPDATE: Simon Property wins dismissal of CEO pay suit
Simon Property Group won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
Kite sells three retail properties for $35.2 million
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were “non-core assets.”
Anderson businessman pays $7.9M for prime farmland
More than 800 acres of prime farmland in Delaware and Madison counties sold during open bidding on Tuesday for $7.9 million.