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.
Retail Development
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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.
Church with rich history sues to shed ‘historic’ label
The designation scotched a deal with CVS that would have funded construction of a new church at another location.
Redevelopment planned for prime Broad Ripple corner
A local real estate investor is trying to lure a new restaurant to a prime corner in Broad Ripple.
Kite lands new tenants for Fishers shopping center
Kite Realty Group Trust has landed Goodwill, Dollar Tree and Mexico City Grill for a renovation of its Fishers Station shopping center at the northeast corner of 116th Street and Allisonville Road in Fishers.
Estridge drops Westfield sports complex, still plans stadium
The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
Metropolis mall purchased by Israel firms
Aviv Arlon Global Ltd. pays $52 million for shopping center, which was in court-appointed receivership. Former real estate firm Premier
Properties USA Inc. developed Metropolis, with an investment of $160 million.
Nordstrom confirms plans to open Rack store in Indianapolis
IBJ first reported in May that Kite Realty Group Trust had recruited Nordstrom Rack and The Container Store as likely anchors of a redevelopment of the Shops at Rivers Edge.
Developer making final push for embattled Uptown project
Developer Leif Hinterberger has spent five years and most of his savings trying to build a $19M mixed-use
project at 49th Street and College Avenue. The project could be in trouble if he doesn’t get city
support.