Mainstreet plans $9.2M nursing home on northwest side
The 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef.
Commercial Real Estate
Articles
Cornerstone, partners reap $120M selling medical properties
Cornerstone plans to use sale proceeds to help finance projects in the works in Indianapolis, Noblesville, Bloomington and West Lafayette, in addition to one in Mississippi.
Broad Ripple project takes heat at Village meeting
Jeering and catcalls greeted officials from Browning Investments, which has proposed the $18 million residential and retail development along the Central Canal.
Pittman pitches $90M mixed-use project for Zionsville
One of the highest-profile tracts of undeveloped land in Zionsville could be transformed into a commercial and residential hub if Pittman Partners' 62-acre project gets the town’s blessing.
St. Vincent sports practice to fill vacant Clay Terrace big box
St. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.
Duke’s CFO heading to Chicago real estate firm
Christie Kelly is credited with playing a critical role at Duke in helping the company keep a strong financial position during the recession and economic recovery.
Athenaeum weighs bids for surface lot redevelopment
Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to the historic Athenaeum building.
Oesterle sells land to Angie’s List, reaping millions
Angie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s the property, at well above its assessed value.
Downtown Lilly building fetches $90 million
American Realty Capital, a real estate investment firm based in New York City, bought the building on South Meridian Street occupied by Rolls Royce Corp. Lilly vacated the facility in 2010.
Kessler Mansion neighbors balk at business uses
An Indianapolis City-County Councilor is looking into the possibility of zoning violations at the massive north-side property. The mansion will host a camp for entrepreneurs in June.
Zionsville to share TIF revenue with school district
Zionsville’s cash-strapped school district could collect almost $5 million from the town’s tax-increment financing district if an unusual land deal is finalized later this month.
Developer planning $60M project near Ball State
Investment Property Advisors of Valparaiso hopes to build a four-story building wrapping around a six-story parking garage that will have 228 apartments and storefronts on the street level.
Duke Realty puts 17 Midwest office buildings on block
The developer is selling the buildings in Cincinnati, Cleveland and St. Louis to increase its emphasis on industrial properties. A research firm values them at $149 a square foot, or a total of about $350 million.
Whitsett goes big with Star project
A local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
Carmel developer plans rooms with a view
Construction is expected to begin this summer on a $6 million development at Carmel’s City Center that includes luxury apartments overlooking the Monon Trail.
Circle Centre hanging in despite anchor vacancy
The downtown mall last year saw its sales per square foot increase to $354, a 5.3-percent increase from 2011, according to an annual operating report it provides to the city. But non-anchor occupancy slipped below 90 percent.
Art imitates life in commercial based on Kosene family
Former Indianapolis filmmaker Alex Kosene bases the story in a local advertising shoot for a Swiss watchmaker on his relationship with his developer dad.
Indiana firms lose ground on Fortune 500 list
Five of the six Hoosier firms that appear in the 2013 rankings slipped from their positions in last year’s list of the largest U.S. companies.
Browning exec Dye joining The Whitsett Group
Dennis Dye will become a partner at Whitsett, a prolific developer of affordable housing. He has served two stints at Browning totaling about 20 years.
Horizon Bank gains access to Mass Ave with building purchase
Michigan City-based Horizon Bank bought the two-story building at 302 N. Alabama St. for $1.5 million and is embarking on a “substantial” investment in the property.