Building permits filed for new homes in the nine-county Indianapolis area rose just 2.6 percent in 2010, to 3,720. That’s just 95 more homes than in 2009—the worst year for local home construction in more than a quarter century.
Two new restaurants are in the works for a prime stretch of 82nd Street between Fashion Mall at Keystone and Castleton Square Mall: MacKenzie River Pizza Company and a new location for downtown favorite Harry & Izzy’s.
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.
Construction is set to begin soon on Community Health Pavilion, a three-story, 55,000-square-foot medical building to be built on six acres at 7910 E. Washington St.
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.
Used-car prices are on the rise. Last month, the average used-car transaction was for $19,345 vs. $16,586 a year earlier, according to Edmunds.com. Last year, used-vehicle prices generally were 10 percent to 15 percent higher than in 2009.
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.
Rolls-Royce Corp.’s decision whether to move about 2,500 office employees to a former Eli Lilly and Co. downtown campus could hinge on three critical factors—parking, incentives and lease terms for the space.
The roughly 1,200-square-foot shop is scheduled to open in late March or early April.
The lead bank on the massive Legacy development along 146th Street in Carmel has put the note up for sale with an asking price of about $15 million—less than half what lenders have sunk into the project.
Goldman Sachs & Co. analyst Jonathan Habermann expects a return of 5 percent to 10 percent this year after last year’s 29-percent total return for REIT stocks.
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.
Home-sale agreements last month dropped 15.4 percent compared to December 2009, capping a year in which sales overall dropped 10.9 percent from the previous year.
More than two years after it opened, some construction problems persist at Lucas Oil Stadium, particularly with outside lighting and with some of the plumbing. The work was performed by contractors that are now defunct.
Great news for Lego fans of all ages: The privately held Danish company known for its toy construction sets is planning its first Indiana store, at Castleton Square Mall.
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
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.
Sara Lee Corp. has signed a lease for about 281,000 square feet of space at Plainfield Business Center at Airwest. The Illinois-based maker of food products will establish a new distribution center in the space in February.
California Pizza Kitchen plans to replace Alcatraz Brewing Co. on the first floor of Circle Centre mall. Alcatraz has occupied the space at the southeast corner of Illinois and Maryland streets since the mall opened in 1995. The Los Angeles-based chain does not currently have any restaurants in Indiana.
