Progress slow on variety of metro area deals
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
Real estate deals
Articles
Krieg Bros. building sold to owner of nearby structure
Buyer Rick Coombes also owns the building at 111 S. Meridian St., the former home of Brenner Luggage, located just north of where the religious store operated for decades.
Park Tudor land purchase puts stop to housing development
The private school recently bought the 5.7 acres north of its campus that Dr. Bill Nunery, a local ophthalmologist, had planned to develop into an upscale residential enclave known as Grace Hill.
Warnings about broker’s tactics went unheeded
Several state employees openly questioned how John Bales' real estate brokerage did business long before the FBI launched an investigation that led to his indictment.
Proposed Broad Ripple parking garage gets zoning OK
The controversial project is a $15 million, three-story garage that the city of Indianapolis will subsidize with $6.3 million in parking meter revenue. The project also features a retail component, which neighbors say will lead to increased traffic.
Carmel office/retail complex hurt by road project gets second chance
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
Giant Super Bowl ads set to adorn downtown buildings
Downtown building owners are looking to cash in on the upcoming Super Bowl by selling space for massive temporary advertisements.
New deals add to robust year in apartment sales
The number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy rates and a combination of ample supply and low borrowing costs.
Flaherty nears deal for Cosmopolitan investment
The developer of downtown’s Cosmopolitan on the Canal is nearing a deal to sell a stake in the building to an investor in a move that could free up capital to launch a $24 million second phase.
Mass Ave deal’s brokerage fee raising eyebrows
A real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis Fire Department stands to collect a million-dollar-plus payday if it closes the deal.
Duke Realty’s massive office sale wins praise on Wall Street
Investors have bid up shares of Duke Realty 13 percent since the company announced it was selling a huge portfolio of office buildings for $1.1 billion.
Buyers edging back into Indianapolis commercial real estate
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
Rivers Edge spawns new retail center across 82nd Street
Veritas Realty is betting more restaurants and retailers are interested in opening stores near Nordstrom Rack and The Container Store.
Duke Realty selling 82 office buildings for $1.1B
The sale includes buildings with a combined 10.1 million square feet of space in Atlanta, Chicago, Columbus, Dallas, Minneapolis, Orlando and Tampa. None of the properties are in Indiana.
Jillian’s arcade games, bowling alley up for auction
An auction to liquidate the downtown entertainment complex will be held Oct. 26 to sell more than 100 arcade games, a nine-lane bowling alley and 12 pool tables. Jillian’s operators owed the landlord roughly $700,000 in unpaid bills.
Real estate brokerage sues IU Health over commissions
CBRE Inc. accuses the local hospital system of cheating it out of consulting fees that could top seven figures related to several building projects.
Texas investors buy northeast-side hotel
A couple from suburban Houston bought the 187-room Ramada Inn in an online auction for $1.3 million and have rebranded it as ExtendASuites.
Apartments, retail planned for Virginia Ave. corridor
Call it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue in this historic neighborhood southeast of downtown is under construction or will be soon.
Industrial-market sales this year end deal drought
Through the first eight months of this year, there were at least seven sales of large industrial properties in the market, compared with zero last year.
New owners aim for big profit after buying IPS school on the cheap
The buyers of former IPS School 64 stand to make hundreds of thousands of dollars if they manage to flip the property they bought for just $20,000.