Duke Realty sells offices in shift toward industrial
Strategy also calls for greater Southeast presence, less investment in the Midwest.
Retail Development
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Entrepreneurs plan microbrewery for Fountain Square
A group of entrepreneurs plans to open Fountain Square Brewing Co., possibly this summer, in a former carburetor-repair shop.
Simon Property’s quarterly profit rises on improving retail sales
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
Brenwick turns over commercial sales, leasing at Village of West Clay
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
Ritter’s Frozen Custard franchisees reopening stores
As a new owner revamps the Ritter’s business plan, at least four of the frozen custard stands in the area have either opened or are set to reopen in the same locations where they previously operated.
Not much optimism in commercial real estate outlook
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.
Commercial real estate will continue its climb back in 2011
Medical office likely will be the strongest sector, followed by apartments.
Broadbent spins off construction business
Beleaguered local developer The Broadbent Co. plans to spin out its construction arm as an independent company as of Jan. 1.
UPDATE: United Kingdom mall owner rejects Simon bid
Capital Shopping Centres Group Plc, the United Kingdom’s biggest shopping mall owner, turned down Simon Property Group Inc.’s $4.6 billion bid, describing it as “inadequate.”
$7.5M Fletcher Arts project gets back on track
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
Foreclosure washes away water park plans in Fishers
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
Keystone plans mixed-use project on Madison Avenue
A local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown.
Start of downtown North of South project in flux
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
Simon rival General Growth exits Chapter 11
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
Redevelopment planned for vacant car dealership
The 2.5-acre property might be retrofitted by late spring for fast-food, retail and possibly medical office users.
Plans for Kroger-anchored center in west Carmel fall through
The grocer might reconsider the Altum Garden’s site if economic variables change.
Broadbent subsidiary seeks bankruptcy reorganization
The owner of the building that houses the Music Mill concert venue listed assets of $1.4 million and liabilities of $1.3 million.
Walnut Street building sold for retail use
The two-story industrial building along the Indianapolis Cultural Trail will be converted into a furniture store.
Developer seeks rezoning for Canal apartments
The city’s Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
Fried chicken franchises, Argentine eatery call it quits
Five Popeyes restaurants in Indianapolis owned by one franchisee close down, as does downtown eatery Taste of Tango.