NCAA approves $35M addition to Indianapolis headquarters
The NCAA executive committee on Thursday approved a $35 million addition to the governing body’s headquarters in White River
State Park in Indianapolis.
Office Complexes
Articles
Lilly to move 1,000 from Faris campus
As it shrinks its work force, Indianapolis-based pharmaceutical firm Eli Lilly and Co. will move more than 1,000 employees to its corporate
center
by mid-2010.
Proposed Fishers medical park faces uncertain demand
Fishers development officials hope to create a huge cluster of medical and research facilities near Interstate 69’s Exit
10, near St. Vincent Medical Center Northeast, but local real estate experts disagree about the amount of potential demand
for such a development.
Fishers officials propose huge medical park
Fishers development officials anticipate unveiling plans for a huge medical business park near Interstate 69’s Exit 10
Wednesday
night at the town’s regular council meeting.
Regions Bank joins skyline
The Regions name and logo are joining the city’s skyline atop One Indiana Square.
Australian owner abandons efforts to sell Chase Tower
Macquarie Office Trust of Sydney has quietly pulled the 48-story Chase Tower off the market, along with a property in Boston and a property in Denver that failed to draw juicy enough offers.
Glut of downtown office space grows
Safeco is leaving a five-building complex on North Meridian Street, and Eli Lilly and Co. has offered for lease its entire
four-building Faris campus.
Tenants trickling in to Purdue’s technology center
For a city feverishly growing its technology and life sciences sectors, it seemed a bit anticlimactic last January when
Purdue University dedicated its new technology center with only one tenant. But the lone tenant in the $12.8
million complex, FlamencoNets, a high-tech telecommunications firm, is about to get some company.
Browning acquires 43 homes for $100 million mixed-used development in Carmel
Developer Brown Investments has reached terms with the owners of 43 of 49 homes in the North Meridian Heights neighborhood
in Carmel. Browning plans to demolish the homes to make way for a $100 million commercial development over 17 acres.
In recession, commercial brokers struggle to determine property values
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it’s becoming increasingly difficult to determine the value of properties.
Emmis creates option to sell, lease back HQ
Would embattled Emmis Communications Corp. sell its Monument Circle headquarters, a prized development that opened a decade
ago at what then-Mayor Steve Goldsmith called "the most important site in the city and the very center of Indiana?"
Most office-space renters opt to stay where they are
Tight budgets, unsure future make moving unattractive to office-space renters.
Jefferson Plaza renovation approaches end
The Jefferson Plaza renovation, which has been renamed Allen Plaza after its developer, will include restaurants, office space, condos, and is also working to achieve LEED environmental certification.
Chicago’s Jones Lang LaSalle attracts talented local brokers to establish Indy branch
Some of the city’s most prominent commercial real estate brokers have resigned from locally owned Meridian Real Estate to
launch an Indianapolis affiliate of Chicago-based Jones Lang LaSalle.
Meridian founder steps aside
Veteran office broker John Robinson, one of the founders of locally based Meridian Real Estate, has left the firm and is working
on a new venture.
California’s Blue Real Estate establishes local presence
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
DBSI, an Idaho company with Indiana properties, faces class-action suit
DBSI, an Idaho real estate firm with 250 properties worth $2 billion faces a class-action suit. Some of its properties and
investors are in Indianapolis.
M&I Plaza, only 30-percent occupied, may sell at cut-rate price
A local real estate developer has emerged as a top contender to buy the 28-story M&I Plaza–potentially at half the
$50 million price the building fetched a decade ago. Paul Kite Co. confirmed it is in talks with Maryland-based
CapitalSource Inc., which took over the struggling office tower in June after foreclosing on a $5 million
mezzanine loan.
Safeco weighs downtown exit; owners of insurer’s building market space
Insurance giant Safeco Corp. is expected to either vacate or scale back its downtown operation next year–a move that could
deal a major blow to the office market. At stake are about 700 downtown jobs, some or all of which could be eliminated or
shifted to the suburbs. A final decision about the fate of Safeco’s five-building downtown office complex likely will come
after Boston-based Liberty Mutual completes its $6.2 billion acquisition of Seattle-based Safeco.
Browning eyes airport land
Browning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.