Office, industrial markets heated up in 2014
Both markets posted strong results as demand for space improved following the recession. Downtown office demand remained weak, however.
Office Complexes
Articles
State mulls sale of downtown Harrison Building
The Indiana Public Retirement System plans to move out of the Harrison Building at 143 W. Market St. and is considering whether to sell the building, which has been under the agency’s ownership since 1982.
Q&A: Cummins CEO says firm scoped 10 sites for unit HQ
Officials of the Columbus, Indiana-based company even toured the old GM stamping plant before selecting the former Market Square Arena site.
OneAmerica bringing 10-story workspace into new century
The life insurer is renovating 10 of the floors it occupies in its namesake building downtown and is removing the outdated and constrictive cubicles for a more modern, open floor plan.
Developer restoring vacant downtown office building
A local developer has purchased a vacant 12-story office building east of Monument Circle downtown and is embarking on $7 million renovation to return the property to its former prominence.
Four-story addition proposed for Mass Ave. office building
Gershman Partners, which bought the Marott Center less than a year ago, wants to build the addition on an adjacent surface lot.
Prospective Salesforce tower spurs proposal, concerns
News that Salesforce.com wants a signature office tower downtown already has sparked an overture from one developer, shined a spotlight on available sites, and triggered fears about the impact on office vacancy rates.
ExactTarget parent wants to build office tower in Indianapolis
The CEO of Salesforce.com, which purchased ExactTarget for $2.5 billion last year, told IBJ on Tuesday morning that the firm was looking for the right opportunity.
Commercial 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.
Among the topics the panel discussed were the factors driving downtown growth, which types of office space are in demand, the types of projects being built, and how the industrial sector has sustained its strength.
Downtown office vacancies force landlords to get creative
A downtown office broker who participated in IBJ's annual Commercial Real Estate & Construction Power Breakfast said office tenants are seeking building amenities that jibe with their companies' culture.
Self-made developer, Castleton pioneer Peterson dies at 84
Howard C. Peterson, an enterprising bricklayer who went on to build a prolific development company that transformed Indianapolis' north side with massive office complexes, died Friday after a long illness. He was 84.
Lender forecloses on two downtown office buildings
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county’s proposed criminal justice complex.
Developer pitches 5-story office building for Broad Ripple
A local developer plans to build a five-story office building on the site of a closed American Legion post in Broad Ripple.
UPDATE: Lowe’s to invest $20.5M in customer-service center
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
Interactive Intelligence set to break ground on $12.5M building
The 119,000-square-foot structure will be built next to the software developer’s headquarters on the northwest side as part of its growth plans to add 430 employees within the next few years.
State to scope downtown block for new offices, parking
The Office of Management and Budget will study a state-owned parcel just north of the Statehouse, potentially to house the judiciary and provide more legislative office space.
Chicago firm closes on $120M acquisition of Precedent park
LaSalle Investment Management now owns the second-largest office complex in Indianapolis. It hit the market after a bitter legal dispute between its former owner and locally based HDG Mansur.
Duke unloads office buildings for $150M, report says
The six Duke Realty Corp. properties in the Cincinnati area included the 403,000-square-foot Towers of Kenwood development, which sold for $69.2 million, according to the Cincinnati Business Courier.
First Financial nabbing new hub, closing 3 branches
Cincinnati-based First Financial Bank is shuffling its operations in the Indianapolis area, including moving its regional hub to a new downtown location and opening a high-profile branch in the same building.
Ambrose snags vacancy-plagued Meridian Street property
Ambrose Property Group Inc. is doubling down on the struggling downtown office market by purchasing its second property within six months.