Downtown’s vacancy rate continues to hover around 20 percent, according to mid-year market reports, with more space becoming available than was leased. Meanwhile, the northern suburban market is showing the most improvement.
The Madison Park Church of God bought a 200-acre site near Interstate 69 in 2007 and built a church there using three bridge loans. One $6 million loan matured on July 12 and couldn't be repaid.
The prolific local developer Flaherty & Collins Properties is expected to land a deal with the city to build a residential and commercial skyscraper on part of the former home of Market Square Arena, multiple sources said Monday evening.
City officials will reveal the winner Tuesday morning from six teams that bid on redeveloping the downtown site. All proposed mixed-use projects, but they ranged in size from eight to 52 stories.
New York-based BrightFarms Inc. plans to build a 100,000-square-foot hydroponic greenhouse on a vacant 5-acre parcel of land at 2219 W. Michigan St. that will employ 25.
The local developer plans to build 215 market-rate apartments and 9,000 square feet of retail space at the northwest corner of North College Avenue and East Michigan Street.
Home-sale agreements in the nine-county Indianapolis area were up nearly 10 percent in June compared to the same month a year ago.
The developer is proposing to add 15 units to the 88 apartments already included in the plans, increasing the cost of the project to $25 million.
A homegrown revival in Shelbyville could gain serious momentum with redevelopment of the vacant First Methodist Building, one of the most prominent buildings on the circle. A California investor bought the five-story building in May and plans a $3.5 million renovation.
Some of Indianapolis’ up-and-coming theater groups are establishing their identities through recently acquired performance spaces.
Bowen Technovation President Jeff Bowen says the university unfairly favored his Florida-based competitor to install a sophisticated audio-visual system for its new planetarium, but Ball State maintains there was nothing wrong with its process for awarding the nearly $2 million contract.
The ill-fated Di Rimini apartment project that city officials halted three years ago because of numerous code violations is set to be resurrected by two local businessmen.
The absence of a fee-disclosure sticker triggered a class-action lawsuit, as well as a legal tangle with the restaurant's insurance company.
American Specialty Health has lined up office space along North Meridian Street. The company may establish Carmel as its new headquarters.
A franchisee of the Dallas-based chain Twin Peaks has signed a lease to occupy the building northwest of Interstate 69 and East 82nd Street and should be open by the end of the year.
The newspaper’s publisher confirmed it’s closing in on a deal to occupy the space after IBJ reported earlier Wednesday that the Star was considering a move to Circle Centre mall.
When it opens next spring, the aptly named Grand Park Sports Campus will be the largest youth sports complex of its kind in the country.
The two buildings, one totaling 475,000 square feet and the other 450,000 square feet, are set to be built on 52 acres in Plainfield that Opus has owned since 2008.
The CSX Building at the southwest corner of Pennsylvania and Georgia streets and space formerly occupied by Nordstrom within Circle Centre mall have emerged as potential locations for the newspaper’s new headquarters.
President Dustin Sapp expects the 8,800-square-foot headquarters in the Lacy Building to boost the three-year-old firm’s profile and help recruit employees as the company pursues plans to hire nearly 100 people over the next few years.
