Commercial Leases

Lauth embarks on turnaround of The Congressional in Carmel

June 12, 2012
Tom Harton
The local developer moved its offices into the building and plans more than $2 million in upgrades to reposition a property that fell on hard times at the dawn of the national real estate crisis.
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MainSource Bank snags prime former Borders space

June 6, 2012
Cory Schouten
MainSource Bank plans to open its first Indianapolis branch in part of the former home of Borders at the southeast corner of Meridian and Washington streets downtown.
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Suburban office market turns in strong first quarter

April 17, 2012
Tom Harton
Net absorption was the highest in five years, chipping away at what has been a chronically high vacancy rate.
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Texas firm plans to move into Franklin distribution building

February 14, 2012
Scott Olson
Music wholesaler Anderson Merchandisers LP is expected to occupy a 703,000-square-foot warehouse formerly used by Best Buy.
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Apartments rev up residential revival downtownRestricted Content

January 28, 2012
Cory Schouten
An apartment building spree downtown is getting fresh fuel with an $85 million mixed-use development that will be anchored by a Marsh grocery.
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Brugge owners eye downtown buildings for brewery, eatery

January 10, 2012
Tom Harton
Owners of Broad Ripple’s Brugge Brasserie want to bring a new restaurant concept to the Massachusetts Avenue district downtown, where they also plan to relocate the craft brewery that supplies beer to Brugge.
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Warnings about broker's tactics went unheeded

December 17, 2011
Cory Schouten
Several state employees openly questioned how John Bales' real estate brokerage did business long before the FBI launched an investigation that led to his indictment.
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Carmel office/retail complex hurt by road project gets second chance

December 13, 2011
Tom Harton
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
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Broad Ripple buildings slated for office conversion

November 8, 2011
Tom Harton
Kyle Robinson and Drew Loftus are in the process of buying and rezoning a trio of vacant, connected buildings at 6334 Westfield Blvd., where the Monon Trail crosses the canal.
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Buyers edging back into Indianapolis commercial real estateRestricted Content

November 5, 2011
Cory Schouten
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
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East 10th Street retail gets a boost

October 25, 2011
Scott Olson
Two veterans of vintage retail are teaming up to open a store on a near-east-side corridor that’s getting renewed attention from the 2012 Super Bowl Legacy Project.
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Circle Centre resolves lease dispute with Cinnabon

September 26, 2011
An attorney for the downtown Indianapolis mall has filed to dismiss the complaint, saying the two sides have resolved the dispute through an out-of-court settlement.
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Prospects bright for Borders replacements

July 26, 2011
Cory Schouten
Brokers expect strong demand from other retailers, in part because the failed bookstore chain carefully chose its real estate, opting for locations near concentrations of affluent and educated consumers.
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Jillian’s set to vacate ground floor of downtown building

July 15, 2011
Scott Olson
An unidentified restaurant and bar is set to sign a lease by Sept. 1 to assume the Meridian Street space Jillian's has agreed to relinquish as part of a lease dispute with its landlord. The entertainment complex will continue to operate on the second and third floors.
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Marsh lands big tenant, will reoccupy headquarters

July 5, 2011
Tom Harton
Marsh Supermarkets is reoccupying a portion of its long-vacant headquarters building and has snagged a plum tenant to sublease most of the rest of the space.
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Report paints brighter picture for retail

June 14, 2011
Tom Harton
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
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Multiple tenants likely needed to plug Nordstrom holeRestricted Content

June 4, 2011
Greg Andrews
Nordstrom occupies a staggering 210,000 square feet spread across three floors—60 percent more space than the Seattle-based chain occupies at the Fashion Mall at Keystone and likely more than any single retailer would be willing to lease.
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Bull-themed Cadillac Ranch takes over Music MillRestricted Content

June 4, 2011
 IBJ Staff
Nightclub Cadillac Ranch plans to open a location in the former Music Mill restaurant and concert venue on 82nd Street.
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School moving to vacant downtown building

May 3, 2011
Tom Harton
A small private school that serves gifted and talented students intends to move to a downtown building that has been vacant since a daycare center moved out three years ago.
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Office stats don't tell full story of market's recovery

April 19, 2011
Tom Harton
Cassidy Turley's research director said the pace of leasing activity is the best he’s seen in 18 to 24 months.
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MZD Advertising office returns to downtown

April 16, 2011
 IBJ Staff
Central location cited in reversal of 2007 move to north suburbs.
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Landlord seeking to evict Jillian's over unpaid rent

April 15, 2011
Scott Olson
The landlord of the downtown building that houses Jillian's, which filed for bankruptcy protection earlier this week, wants the restaurant and entertainment complex out of its building, alleging the tenant owes nearly $700,000.
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Virginia not-for-profit suing Duke Realty for $30M

March 9, 2011
Military think tank CNA claims Duke Realty breached its obligations as landlord by selling land in Alexandria to the Department of Defense, which plans to build a bomb-inspection facility on the site.
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Fourth-quarter commercial real estate stats for IndianapolisRestricted Content

February 19, 2011
Statistics for Indianapolis office and industrial property.
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Duke Realty reports strong year-end results

January 27, 2011
Cory Schouten
Duke Realty Corp. reported a fourth-quarter profit almost 70 percent above last year's figure as it closed out its best leasing year since 2007 and finished with its highest annual portfolio occupancy rate since 2004.
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  1. Looking at the two companies - in spite of their relative size to one another -- Ricker's image is (by all accounts) pretty solid and reputable. Their locations are clean, employees are friendly and the products they offer are reasonably priced. By contrast, BP locations are all over the place and their reputation is poor, especially when you consider this is the same "company" whose disastrous oil spill and their response was nothing short of irresponsible should tell you a lot. The fact you also have people who are experienced in franchising saying their system/strategy is flawed is a good indication that another "spill" has occurred and it's the AM-PM/Ricker's customers/company that are having to deal with it.

  2. Daniel Lilly - Glad to hear about your points and miles. Enjoy Wisconsin and Illinois. You don't care one whit about financial discipline, which is why you will blast the "GOP". Classic liberalism.

  3. Isn't the real reason the terrain? The planners under-estimated the undulating terrain, sink holes, karst features, etc. This portion of the route was flawed from the beginning.

  4. You thought no Indy was bad, how's no fans working out for you? THe IRl No direct competition and still no fans. Hey George Family, spend another billion dollars, that will fix it.

  5. I live downtown Indy and had to be in downtown Chicago for a meeting. In other words, I am the target demographic for this train. It leaves at 6:00-- early but doable. Then I saw it takes 5+ hours. No way. I drove. I'm sure I paid 3 to 5 times as much once you factor in gas, parking, and tolls, but it was reimbursed so not a factor for me. Any business traveler is going to take the option that gets there quickly and reliably... and leisure travelers are going to take the option that has a good schedule and promotional prices (i.e., Megabus). Indy to Chicago is the right distance (too short to fly but takes several hours to drive) that this train could be extremely successful even without subsidies, if they could figure out how to have several frequencies (at least 3x/day) and make the trip in a reasonable amount of time. For those who have never lived on the east coast-- Amtrak is the #1 choice for NY-DC and NY-Boston. They have the Acela service, it runs almost every hour, and it takes you from downtown to downtown. It beats driving and flying hands down. It is too bad that we cannot build something like this in the midwest, at least to connect the bigger cities.

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