Buyers edging back into Indianapolis commercial real estate
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
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Articles
City to give Angie’s List $4.6M to buy properties for expansion
Money for real estate acquisition is a major component of the $7.1 million in incentives the city of Indianapolis offered Angie's List Inc. for expanding its headquarters campus to accommodate 500 more employees.
Developer of government building sees potential for more
Ambrose Property Group broke ground last month on a 13,000-square-foot building at Intech Park that will house about 75 Social Security Administration employees.
Lender’s suit says homebuilder owes $12.8M on loans
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
Housing agency breaking ground on $30M Lugar Tower project
The project includes renovations to the 15-story apartment building in downtown Indianapolis, as well as the construction of two mixed-income buildings containing a total of 74 units at its base.
Owner of several properties south of Mass Ave starts to divest
The pending sale of two historic buildings and a vacant lot just south of Massachusetts Avenue is the first of what could be several deals in the area as one of its largest property owners begins to divest its holdings.
Lender purchases Renaissance Bay in sheriff’s sale
Fort Wayne-based Star Financial Bank, which is trying to recover some of the more than $23 million it loaned for the condominium project, submitted the only bid for it on Wednesday. The bank said several potential buyers are interested in the property.
Renaissance Bay heads for sheriff’s sale
A $150 million project that slammed head-first into the recession is slated for a sheriff's sale later this month.
Meridian Street buildings to get facelift
A not-for-profit is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into specialized affordable housing.
IU Health cancels $73M project, acquires Gateway Plaza
Indiana University Health has canceled its plans for a $73 million administrative office building at 16th Street and Capitol Avenue and has instead purchased the Gateway Plaza tower at 10th and Illinois streets.
City-County Council OKs North of South project funding
The $155 million complex, to be built primarily on Eli Lilly and Co.-owned parking lots at Delaware and South streets, is to include a boutique hotel, a YMCA, apartments and retail and office space.
Browning set to start retail project; another in works
Browning Investments is close to breaking ground on a small retail strip center on West 86th Street in front of St. Vincent Hospital and is in the early stages of planning a larger retail center at 131st and Meridian streets.
North of South development to start this summer
Now that financing for Buckingham Cos.’ massive project has the city’s blessing, the local developer is turning its full attention to construction of the 14-acre, mixed-use complex.
Glick partners on $30M downtown apartment development
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
City agency signs off on North of South site plans
Regional Center Hearing Examiner gives blessing to the $155 million development’s master plan. Site plans will go before the Metropolitan Development Commission on March 2.
Technicality delays council’s North of South vote
A technicality caused the City-County Council on Monday night to put off a final vote on the massive North of South mixed-use project slated to be built on 14 acres north of the Eli Lilly and Co. corporate campus.
Council to vote on funding for North of South project
The City-County Council will consider Monday evening whether to allow the city to issue $98 million in bonds to finance a portion of the controversial $155 million development.
Lender tries to sell note for Legacy at big loss
The lead bank on the massive Legacy development along 146th Street in Carmel has put the note up for sale with an asking price of about $15 million—less than half what lenders have sunk into the project.
Citimark rejoins development game
The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
Trail Side funding finally closes
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.