Two downtown office towers change hands in $417M acquisition
The four-building acquisition by Hertz Investment Group includes the tallest office tower in Indiana and the fourth-largest office complex in downtown Indianapolis.
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Bank bucks trend by opening teller-less branch in grocery
Some banks have been closing their mini-branches in stores, but PNC Financial Services is applying the trend toward automated transactions to its new location in Carmel’s Market District Supermarket.
J.C. Penney aims to be king of the mall as rivals retreat
J.C. Penney Co. is in a surprising position more than four years after it was almost run aground by a former CEO: It could be the last department store standing at your local mall.
Residential Real Estate: Marketplace
Home sales are up 3 percent. Get the stats for the region, plus see what you can buy for $900,000 and what home sold for the most in the past three months.
Monarch affiliate gets big win in effort to sell liquor
The court decision found the Indiana Alcohol and Tobacco Commission was “arbitrary and capricious” in its 2014 decision to deny the wholesale liquor permit application of Spirited Sales, an affiliate of Monarch Beverage Co. It also takes the Pence and Daniels gubernatorial administrations to task for intervening in the case.
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2015 All-Star Real Estate Agents
For the first time in almost a decade, there’s a new group at No. 1 in the IBJ All-Star team ranking: Dennis Nottingham’s Indy Home Pros Team. Meanwhile, there’s a familiar name atop the list of solo agents.
Struggling Sears borrows $300M from hedge fund as losses mount
Sears Holdings Corp., which operates about 80 stores in Indiana, is once again lining up financing after losing more than $9 billion in recent years.
Shoemaker infuses Fletcher Place home with neutral palette, natural materials
Realtor Joe Shoemaker spends most of his days studying home interiors and exteriors. That’s why he opted for a minimalist approach when he constructed his Fletcher Place abode.
Downtown boom hits Herron-Morton neighborhood
A growing number of pricey new homes are cropping up in the historic Herron-Morton neighborhood, bolstered by the strength of the downtown housing market and the rejuvenation of East 16th Street.
McMansions: a bad bet, except maybe in the Midwest
The few areas in which McMansions are gaining value faster than more tasteful housing stock are primarily the Midwest and the eastern New York suburbs that make up Long Island.
Indy top market in nation for first-time buyers, Zillow finds
A Zillow study found the median home value in Indianapolis is $130,000 this year and the supply of those homes is high. It also found it takes just 11 percent of a buyer’s monthly income to make the average mortgage payment.
Sprawling east-side RCA site finally could be ripe for redevelopment
The city is seeking bids to demolish the remaining building at the northeast corner of Michigan and LaSalle streets, potentially clearing the 49-acre property for reuse.
Area home sales stagnate as inventory continues to drop
The total number of active home listings in central Indiana was down 11.7 percent, from 12,878 a year ago to 11,377 at the end of last month.
High-end office park on north side sells for $162.9M
A partnership involving a local firm has acquired the eight-building complex from Duke Realty Corp., and is planning an amenity center for dining, fitness, conferences and workplace collaboration.
Former HHGregg chief named CEO at health services firm
Dennis May, who left HHGregg Inc. in February after nearly seven years as CEO of the retail chain, has a taken a new job at a health care company that has plans for regional growth.
Fresh Thyme opening sixth Indy-area grocery
With the new location, fast-growing Fresh Thyme will have 46 stores operating in the Midwest since launching in 2012.
One of downtown’s oldest buildings has new owner
Pinnacle Solutions is finishing up a $2 million renovation on the structure along East Washington Street and plans to move in on Sept. 1.
McNamara hopes $2.5M bet on HQ will help Mass Ave industrial corridor flower
The Indy area’s largest florist has completed moving its headquarters and distribution operations from Fishers to an area near downtown in need of revitalization.
Central, Southern Indiana Goodwill affiliates planning merger
The merger will create a group called Goodwill of Central & Southern Indiana that will cover 39 counties ranging from north-central Indiana to the Ohio River.
Old City Hall hotel project faces financing delay
Construction of a 21c museum and hotel slated to be built as part of a $55 million redevelopment of Old City Hall is not likely to start on time after the owner missed a deadline to secure financing.