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.
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.
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
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.
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.
Six projects with more than 25,000 square feet of space will be completed this year and in 2012 along the 10th Street corridor, which runs from near Rural Street east to Sherman Drive.
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.
As Eli Lilly and Co. outsources work and sheds unnecessary properties, it is making moves with surplus real estate that could establish the strongest physical connection between Lilly and downtown since the company was founded at Pearl and Meridian streets 135 years ago.
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.
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.
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
Bianco Properties has purchased its fourth Indianapolis property in less than five years and is pursuing more deals here.
C.H. Douglas & Gray will relocate to 71st & College building previously owned by PNC Bank.
The bill would allow the Indiana Department of Administration to sell real estate using a request for proposals, in addition to existing options for competitive bids or an auction.
A downtown advocate who renovated and repopulated a commercial building on what was once a desolate stretch of Massachusetts Avenue hopes to do the same on Virginia Avenue, where he just closed on the purchase of three contiguous commercial buildings totaling 15,000 square feet.
Approval would let city issue $98 million in bonds to finance its portion of the $155 million North of South mixed-use project set to be built on 14 acres north of South Street between Delaware Street and Virginia Avenue.
Massachusetts-based Franklin Street Properties acquired the Monument Circle headquarters of insurance giant WellPoint Inc. late in 2010 for $42 million—a rich $196 per square foot—from an affiliate of locally based HDG Mansur.
Another challenging year is in store for commercial real estate thanks to high unemployment, a still-struggling housing market and an unforgiving credit environment, Cassidy Turley plans to report Thursday at its annual State of Real Estate event.
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.
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
