Woodfield office buildings attracting strong interest
The two Class A office buildings totaling 348,000 square feet are close to being sold after falling into foreclosure during the implosion of defunct local developer Premier Properties USA Inc.
Commercial Real Estate
Articles
Cummins keeping HQ in Columbus, but considering Indy project
Cummins spokesman Jon Mills said the company wants to consolidate its two offices in downtown Indianapolis where about 100 employees work in areas such as communications, information technology and investor relations.
Simon debuts bonds in Europe as discount to U.S. widens
Simon Property Group Inc. is selling 750 million euros ($1 billion) of seven-year securities as the yield discount to U.S. dollar notes approaches the widest in more than 4-1/2 years.
Canterbury to change name, close for 9-month renovation
The historic downtown hotel’s new owner says the $9.5 million revamp and affiliation with an international brand are needed to compete with new high-end hotels in the Indy area.
Simon competitor hoping to raise $750 million in IPO
An offering of at least $750 million by Brixmor Property Group Inc. would be the largest IPO by a retail real estate investment trust since Simon Property Group raised $840 million in 1993.
Landmark Indiana gym faces talk of possible closure
Muncie school board members are considering closing the 6,000-seat Muncie Fieldhouse to save money. The gymnasium turns 85 in December.
Skywalk adds architectural element to senior-housing project
Two four-story structures, at the southwest and northwest corners of 30th and Clifton streets, will be built as part of a $10.7 million project that will include 57 units linked by an elevated walkway.
Colliers expands multifamily-brokerage team
The additions joining Michael Drew, who had been the office’s loan investment and multifamily broker, are team leader Michael H. Wernke, in addition to Cory Detamore, Evan Bryant and Maria Stein.
New vision for Eastgate includes solar farm
A former east-side shopping mall will soon be covered in solar panels, possibly the most transformative of property owner Alex Carroll’s various redevelopment efforts.
City eyes Cummins as anchor for key downtown site
City officials are quietly trying to orchestrate what would be a major coup: Landing Cummins as an office anchor for a second phase of redevelopment on the former home of Market Square Arena.
Fourth-quarter 2012 commercial real estate statistics for Indianapolis
Commercial Real Estate Focus sections include statistical snapshots of Indianapolis' multi-tenant office vacancy rates and the local industrial market.
Former Thomson site may be ripe for development
The vacant 49-acre Sherman Park business complex might finally be redeveloped now that the owner has exited bankruptcy and demolition has started on its main building.
West Clay commercial building set for sheriff’s sale
The 24,400-square-foot building was owned by CFS Inc., a Carmel company accused by the Indiana Secretary of State’s securities division of misappropriating the funds of elderly clients who bought ownership interests in rental properties.
Former Thomson site may finally be ripe for redevelopment
The vacant Sherman Park business complex on the east side has been taken from a private developer in a bankruptcy reorganization, and several parcels of the 49-acre property are listed in the county's annual tax sale.
IBJ Real Estate Power Breakfast transcript
Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13. The following is an unedited transcript of the discussion.
Mall owners go from first to last in REIT market
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
Two troubled downtown office buildings turn tenants’ heads
The Landmark Center at 1099 N. Meridian St. and the historic Century Building at 36 S. Pennsylvania St. (pictured) are both in receivership but attracting interest from potential buyers and tenants.
Pan Am Plaza hotel may sweeten bowl bid
Indianapolis officials hope to include plans for a new downtown luxury hotel in their bid for the 2018 Super Bowl, but they’re not sure all the pieces for a deal—potentially on Pan Am Plaza—can be put together before a bid presentation for 32 NFL owners in May.
Zionsville believes in power of small loans
The town has started supporting tiny business loans in its tax-increment financing district.
City targets east-side parcel for housing development
The city hopes to seek bids to redevelop land along East Washington Street that is part of the four-acre P.R. Mallory industrial complex. Real estate experts say an affordable housing project might make the most sense.