Starbucks says empty storefronts are leading to lower rents
Starbucks Corp. Chairman Howard Schultz said he sees a blessing in all the retail vacancies across the United States—landlords are beginning to reduce rents.
Real estate deals
Articles
Hospital complex costing $1B planned for 96th and Spring Mill
Neighbors contacted about selling their homes to make way for the development say St. Vincent Health is behind it. But a St. Vincent spokeswoman said the organization does not have “details to share” at this time.
U-Haul converting empty big-box space on east side into storage units
The company has purchased the property on Pendleton Pike where a former Menards store stood and hopes to have the 1,000-unit facility ready by fall.
Former T2 exec embarks on downtown car club, auto storage project
Mike Simmons has bought the former Chef’s Academy on East Washington Street and is refurbishing the building to appeal to car enthusiasts by adding meeting and event space.
Downtown microbrewery files for Chapter 11 to avoid eviction
Tow Yard Brewing made the move to reorganize its assets before its current lease ends and the owner of the building seeks another tenant for the space.
Massive north-side office park fetches $133 million
Philadelphia-based Rubenstein Partners and Strategic Capital Partners of Indianapolis have acquired the Precedent Office Park, the second large local business park purchased by the partnership in the past 18 months.
Artist Noel upgrades Zionsville landmark in hopes of making it more marketable
She has listed the historic church building since 2015, originally for $1.85 million, but has dropped the asking price to $1.59 million as she finishes a second round of renovations.
Brokers, developers anticipate hale, hearty year in real estate
A sturdy office sector, hot industrial demand and some steamy retail categories are expected to boost Indy’s commercial real estate market in 2018.
Butler closes on purchase of seminary buildings, 40 acres of land
Butler University’s College of Education plans to move into the main Christian Theological Seminary building in the 2018-2019 academic year.
Three-story building to rise on hot East 16th Street corridor
Mainstay Property Group has won approval to construct the office and retail project as the street’s commercial revival kicks into high gear.
Judge sides with Simon, bars Starbucks from closing Teavana stores
A Marion Superior Court judge has granted the Indianapolis-based mall giant’s request for a temporary injunction, at least for now preventing Starbucks from closing 77 Teavana stores in its properties nationwide.
Plan to develop 211 acres at Fishers airport site takes flight
Local officials say the land, part of Indianapolis Metropolitan Airport, could house up to 1 million square feet of new commercial development under a plan approved on Friday.
Irvington marketing firm buys building, prepares to exit lodge
The firm is rehabbing a commercial building in Irvington that’s been vacant for 30 years and saying goodbye to its longtime, idiosyncratic corporate home.
Developers propose $113M commercial project near I-65 in Whitestown
Plans from the two Indianapolis-area firms call for more than 2 million square feet of space in a development encompassing 170 acres.
Former Angie’s List CEO seeks to buy company’s HQ campus
Bill Oesterle has assembled a group of local heavy hitters in hopes of purchasing the 17.5-acre site east of downtown, now that ANGI Homeservices Inc. has put it up for sale.
Apartment developer Milhaus lands $245M in equity investments
Milhaus said the capital infusion will help fuel its plan to build thousands of units over the next few years while retaining most of its existing portfolio.
Byrd’s in hand: Former Greenwood restaurant converting to multitenant ‘Nest’
The new owner of a landmark south-side eatery is renovating and dividing the 40,000-square-foot space to land retail and commercial tenants.
Oklahoma City firm set to buy spiffed-up Market Tower
Square Deal is purchasing the 30-story building from Zeller Realty, which put it on the market in the summer after spending millions on renovations and improving occupancy.
Downtown’s Pan Am Plaza building hits market
At 138,800 square feet, it’s downtown’s 19th-largest office complex. But the building played a major role in the city’s efforts in becoming a sports town worthy of hosting a Super Bowl.
Keystone poised to buy AT&T tower that vexed current owner
Local developer Keystone Group is nearing a deal to buy the 20-story building just north of Monument Circle and is considering a range of possibilities for the half-million-square-foot property.