Tanger buys outlet center from Simon Property
Tanger Factory Outlet Centers Inc. said Tuesday it bought an Ohio outlet shopping center from Indianapolis-based Simon Property Group Inc. for $134 million.
Real estate deals
Articles
$100M ‘Bridges’ project in Carmel wins approval
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK’d Monday night by the Carmel City Council after numerous concessions.
Trinity Metals to add 50 jobs at new facility
Indianapolis-based Trinity Metals is expanding its local operations, purchasing a vacant facility southeast of downtown to house its headquarters and two recycling divisions.
Developer puts Cosmopolitan complex on block
The Cosmopolitan on the Canal, a 218-unit upscale apartment complex in downtown Indianapolis that cost more than $33 million to build, has been put on the market by Flaherty & Collins Properties.
Effort to save minority car dealer lands Bill Mays in ditch
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
Bull-themed Cadillac Ranch takes over Music Mill
Nightclub Cadillac Ranch plans to open a location in the former Music Mill restaurant and concert venue on 82nd Street.
Real estate deals picking up around Fashion Mall
Owners of the Sheraton Indianapolis are converting one of its towers into luxury apartments, and developers are vying to replace the vacant Woodfield Centre.
Multiple tenants likely needed to plug Nordstrom hole
Nordstrom occupies a staggering 210,000 square feet spread across three floors—60 percent more space than the Seattle-based chain occupies at the Fashion Mall at Keystone and likely more than any single retailer would be willing to lease.
Shrunken Lauth emerges from reorganization
Lauth Investment Properties, which holds the remains of the real estate empire of Lauth Group, has emerged from Chapter 11 bankruptcy, with about $25 million and a portfolio of properties valued at $35 million.
Simon Property to develop outlet center in Canada
Indianapolis-based Simon Property Group Inc. said Monday that it will open an outlet shopping center in Ontario, the first of the shopping mall owner's line of Premium Outlets-brand shopping centers in Canada.
Eastgate redevelopment reaches crucial crossroads
Lifeline Data Centers, which bought Eastgate in 2008, plans to invest $10 million into the property this year if the Department of Public Safety moves forward with plans to lease 78,000 square feet.
School moving to vacant downtown building
A small private school that serves gifted and talented students intends to move to a downtown building that has been vacant since a daycare center moved out three years ago.
Amusement center set for Clearwater area
An entertainment venue featuring a bowling alley, concert hall and restaurant is set to replace a vacant movie theater.
Retail REIT profits may slip on store bankruptcies
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
Whitestown interchange lands $8M travel plaza
A growing distribution hub anchored by Amazon.com and MedcoHealth Solutions along Interstate 65 in Boone County has inspired plans for an $8 million truck stop and travel plaza.
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.
Altum’s staying put at current west Carmel location
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn’t found a buyer. Kroger nixed a deal to buy its property last fall.
Minneapolis firm buys Fishers business park
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
Rolls-Royce gives downtown office market a bounce
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
Retail/office building planned for site at Fort Ben
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.