High-profile retail building sells in Meridian-Kessler
Locally based Ambrose Property Group acquired the 12,100-square-foot center at the northeast corner of 49th and Pennsylvania streets.
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Simon’s board wrongfully denied CEO pay vote, lawyers argue
Simon Property Group directors improperly refused to let shareholders vote on changes to the company’s executive-compensation plan that resulted in a $120 million stock award to CEO David Simon, investors’ lawyers argued Monday in court.
Area home sales show signs of cooling off
Home-sale agreements in central Indiana fell for the second time in three months in September amid higher mortgage rates and tighter inventories.
Developer launching rehab of vacant College Avenue retail building
Developer Larry Jones said he’ll spend about $600,000 to renovate the 6,700-square-foot eyesore at 1101 N. College Ave., which has sat empty since the early 1980s.
Developer seeks tax break on $16.2M apartment project
Indianapolis-based Herman & Kittle Properties Inc. would save $452,000 in property taxes on the development, slated for 22.5 acres on the southwest side.
$120M lawsuit over central Indiana factory moves ahead
The appeals court declined to hear an appeal from Getrag Transmission of a Tipton County judge's ruling that the lawsuit filed by Walbridge Construction should go to trial or settlement.
Buckingham Cos. nabs downtown Zionsville site
The prolific developer behind Indianapolis’ $155 million CityWay project is working on a plan to transform a key parcel in the heart of downtown Zionsville.
Chicago firm building spec warehouse in Plainfield
HSA Commercial Inc. plans to break ground later this month on the 220,000-square-foot building in the Gateway Business Park near Columbia Road and Ronald Reagan Parkway.
Former Simon executive faces fraud charge
Federal prosecutors in Pittsburgh have charged Mark Palombaro of Carmel with a single count of mail fraud in connection with a kickback scheme.
Mass Avenue moves: Tini, Flying Cupcake
The martini and vodka bar is taking the space next door now occupied by the cupcake store, which is relocating to another location on the Avenue.
Deborah Simon giving $100M to Pennsylvania prep school
The contribution from the daughter of Simon Property Group co-founder Mel Simon is one of the largest gifts ever made to an independent school in the United States.
Tower would be first big addition to east side of Indianapolis in decades
The proposed Market Square Tower—if it’s built as planned at 28 stories and 370 feet—will be one of the 10 tallest buildings in Indianapolis.
Home-A-Rama back after five-year layoff as market improves
With the housing market on the mend, the Builders Association of Greater Indianapolis decided the time was right to reintroduce the show, which gives the public an opportunity to tour newly built custom homes.
Update: Drugstore drive-through gets city clearance
A city zoning board has approved a developer’s request for a drug store drive-through as part of a mixed-use project to be built on the Indianapolis Star’s current headquarters property.
Local Red Cross unveils plans for new headquarters
The not-for-profit is planning to move from its East 10th Street location to North Meridian Street as part of a larger city land swap deal involving the Indianapolis Fire Department. The final step: a $43 million mixed-use development on Mass Ave.
Developer readies second Virginia Avenue residential project
Deylen Realty’s latest development along bustling Virginia Avenue calls for 68 apartments and 9,900 square feet of retail space between the existing Mozzo apartments and Villagio condos.
State opens downtown parking lots to development
Proposals due Nov. 15 could cover one or all of three state-owned parking facilities, which contain 6,096 spaces and generate more than $1 million a year from special events.
Car dealers curtail advertising boasts
Efforts by trade groups such as the Automobile Dealers Association of Indiana—and, more formidably, a recent crackdown by the Federal Trade Commission—have discouraged the use of potentially misleading ads.
Gene Glick was a soldier, a builder and a philanthropic giant
Gene Biccard Glick, who died at home following a long battle with Alzheimer’s disease, built affordable housing sprawling across 10 states—a business empire that paved the way for tens of millions of dollars in donations to causes ranging from medicine to recreation.
Precedent office park hits block
The owners of the 19-building Precedent Office Park are putting the massive property up for sale, eight years after buying it for $143 million at the height of the real estate boom.