An affiliate of locally based HDG Mansur has owned the 10-story building at Illinois and Market streets since the 1980s. It’s sat empty for 10 years, thanks in large part to separate ownership of the building and the land—an arrangement once common among downtown buildings.
Zionsville officials are working toward a late-May deadline for wrapping up a complicated plan to buy 91.3 acres of property from Dow Chemical Co.—clearing the way for commercial development worth an estimated $55 million.
Hertz Investment Group has closed on its purchase of the 650,000 square-foot, two-tower Capital Center and its 525-space underground parking garage.
Fast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
Heading into the 2008 recession, Center Township sat on $10.5 million in cash, but sky-high unemployment and rising poverty over the next four years failed to drain those funds, and the disconnect persists in several area townships.
IBJ SPECIAL REPORT: Center Township lowered its bank balance in 2012, to $6.7 million, but the biggest checks Trustee Eugene Akers wrote weren’t for emergency needs like food or shelter, the township’s main mission.
The city of Indianapolis is poised to pay Citizens Energy Group $6.5 million to buy a key parcel of real estate it’s targeting as the centerpiece of its ambitious 16 Tech project.
One of the city’s most prolific developers of affordable housing hopes to buy the Indianapolis Star headquarters to redevelop the property into apartments or condominiums.
Mike Cunningham has signed a letter of intent to buy a building at 620 N. East St. that he said would house a "new American diner."
The insurer will invest millions to lease, renovate and equip a 109,000-square-foot customer service center at 101 W. 103rd St. It plans to begin hiring immediately, and bring up to 1,200 new jobs by 2016.
Eric Bretzman, an engineer for Chip Ganassi Racing, closed March 1 on the purchase of 40 S. Main and negotiated a new long-term lease with il Villagio, an Italian restaurant that has operated in the 4,000-square-foot building for 10 years.
Ambrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution center for Gordmans Inc.
The five-story, $22.9 million building would be constructed on university-owned land at the northeast corner of New York Street and University Boulevard.
The Capital Improvement Board of Marion County has agreed to slash its sale price on downtown's Ober Building by $700,000 after inspections showed problems including a leaky roof and damaged HVAC system.
During three hours of closing arguments Wednesday in the federal fraud trial of real estate broker John M. Bales and William E. Spencer, a federal prosecutor and two top-tier Indianapolis defense attorneys delivered a series of memorable one-liners and rhetorical flourishes designed to stick with jurors.
Closing arguments are expected to begin Wednesday afternoon in the federal fraud trial of Indianapolis real estate broker John M. Bales and partner William E. Spencer after the defense raced through seven witnesses Tuesday and early Wednesday.
The legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank, mail and wire fraud.
Attorney and developer Paul J. Page is no longer a co-defendant in the fraud trial of real estate broker John M. Bales and partner Bill Spencer. But you wouldn’t know it from the action Tuesday in U.S. District Court. Only now, rather than federal prosecutors, it’s defense attorneys for Bales and Spencer who are targeting Page.
Facing a looming deadline to find suitable office space for the state Department of Child Services, Indianapolis real estate broker John M. Bales and partner Bill Spencer in 2008 dipped into their own pockets to help close a difficult lease deal, their defense attorneys contend.
The Indiana House has approved a bill that would shorten the time that school districts must hold onto vacant buildings in case a charter school operator wanted to move into the building.
