Commercial Real Estate

Broad Ripple project takes heat at Village meeting

May 24, 2013
 IBJ Staff
Jeering and catcalls greeted officials from Browning Investments, which has proposed the $18 million residential and retail development along the Central Canal.
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Pittman pitches $90M mixed-use project for Zionsville

May 22, 2013
Andrea Muirragui Davis
One of the highest-profile tracts of undeveloped land in Zionsville could be transformed into a commercial and residential hub if Pittman Partners' 62-acre project gets the town’s blessing.
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St. Vincent sports practice to fill vacant Clay Terrace big box

May 21, 2013
Scott Olson
St. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.
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Athenaeum weighs bids for surface lot redevelopment

May 18, 2013
Scott Olson
Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to the historic Athenaeum building.
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Oesterle sells land to Angie's List, reaping millionsRestricted Content

May 18, 2013
Chris O'Malley
Angie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s the property, at well above its assessed value.
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Duke's CFO heading to Chicago real estate firm

May 17, 2013
 IBJ Staff
Christie Kelly is credited with playing a critical role at Duke in helping the company keep a strong financial position during the recession and economic recovery.
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Downtown Lilly building fetches $90 million

May 16, 2013
Scott Olson
American Realty Capital, a real estate investment firm based in New York City, bought the building on South Meridian Street occupied by Rolls Royce Corp. Lilly vacated the facility in 2010.
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Kessler Mansion neighbors balk at business uses

May 15, 2013
Dan Human
An Indianapolis City-County Councilor is looking into the possibility of zoning violations at the massive north-side property. The mansion will host a camp for entrepreneurs in June.
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Whitsett goes big with Star project

May 10, 2013
Scott Olson
A local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
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Developer planning $60M project near Ball State

May 10, 2013
Associated Press
Investment Property Advisors of Valparaiso hopes to build a four-story building wrapping around a six-story parking garage that will have 228 apartments and storefronts on the street level.
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Duke Realty puts 17 Midwest office buildings on block

May 10, 2013
Bloomberg News
The developer is selling the buildings in Cincinnati, Cleveland and St. Louis to increase its emphasis on industrial properties. A research firm values them at $149 a square foot, or a total of about $350 million.
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Circle Centre hanging in despite anchor vacancy

May 8, 2013
Scott Olson
The downtown mall last year saw its sales per square foot increase to $354, a 5.3-percent increase from 2011, according to an annual operating report it provides to the city. But non-anchor occupancy slipped below 90 percent.
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Art imitates life in commercial based on Kosene family

May 7, 2013
Chris O'Malley
Former Indianapolis filmmaker Alex Kosene bases the story in a local advertising shoot for a Swiss watchmaker on his relationship with his developer dad.
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Browning exec Dye joining The Whitsett Group

May 7, 2013
Scott Olson
Dennis Dye will become a partner at Whitsett, a prolific developer of affordable housing. He has served two stints at Browning totaling about 20 years.
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Indiana firms lose ground on Fortune 500 list

May 7, 2013
Mason King
Five of the six Hoosier firms that appear in the 2013 rankings slipped from their positions in last year's list of the largest U.S. companies.
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Developer shelves plan to buy city land, build Meijer

May 6, 2013
Scott Olson
Opus Development Corp.'s proposal for the project north of downtown included buying and bulldozing dozens of historic homes in the Flanner House neighborhood.
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Stadium Lofts apartment project nears opening dayRestricted Content

May 4, 2013
Scott Olson
The unusual nature of the redevelopment and its location are driving strong leasing activity.
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First-quarter commercial real estate statistics for IndianapolisRestricted Content

May 4, 2013
Commercial Real Estate Focus sections include statistical snapshots of Indianapolis' multi-tenant office vacancy rates and the local industrial market.
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Meijer might finally be coming to AnsonRestricted Content

May 4, 2013
Construction paperwork indicates the store will be almost 200,000 square feet and employ 100 people.
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Kite Realty reports small loss as revenue rises

May 3, 2013
Scott Olson
The Indianapolis-based real estate investment trust saw a healthy revenue increase due largely to more signed leases and gains on the sale of three land parcels.
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Ownership snarl resolved, Illinois Building on block

April 27, 2013
Scott Olson
An affiliate of locally based HDG Mansur has owned the 10-story building at Illinois and Market streets since the 1980s. It’s sat empty for 10 years, thanks in large part to separate ownership of the building and the land—an arrangement once common among downtown buildings.
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Speedway's Speed Zone redevelopment project in high gearRestricted Content

April 27, 2013
Anthony Schoettle
Some goals have been realized, while others are moving through the pipeline.
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Downtown's historic Century Building set for sheriff’s sale

April 26, 2013
Scott Olson
The 112-year-old office building will return to the market in a precarious position, as a major tenant plans to depart.
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More demand for mall space boosts Simon earnings

April 26, 2013
Bloomberg News
The Indianapolis-based owner of retail centers raised its expectations for the fiscal year after reporting solid gains in occupancy, rent revenue and earnings for the first quarter.
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Duke Realty posts profit on sale of properties

April 25, 2013
The Indianapolis-based real estate investment trust rang up earnings of $28 million, mostly due to gains from the sale of 18 properties.
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  1. Good ole' Obamacare. Thanks liberals and those who didn't bother to vote.

  2. Yes. Blame those who were too lazy to go vote Obama out and those who voted him in again. That's my take on it. I know folks won't get it on the left. OK. Start berating me now!

  3. Serioulsy, people are AGINST this project? Most communities would be salivating over a project like this. You'd rather have an empty eye-sore gas station and shacks posing as apartments? This project is exactly what BR needs. BUILD IT MR MAYOR. And yes, I am a BR resident, and have been for 20 years.

  4. As a St. Vincent employee of over 20 years, I am saddened and disheartened by this announcement. Unfortunately, as the healthcare "industry" continues on this political and corporate path, all that St. Vincent Hospital has stood for spiritually for its employees and this community is being sucked dry. I know it truly has no choice. It is not just Obamacare or just competition or just any single thing. This trend started long before I was even born when the government became involved in healthcare and it became an "industry." I grieve for those who will lose their jobs, one of whom may be me, but I also grieve for this hospital which I have served for over 20 years. May God give us and it the grace to withstand the future of healthcare.

  5. Why do people constantly harp on this issue and act ignorant about what a city population measures? A city's population is the city's population. There is no argument or debate about it. If you want to measure the density of a city--measure it. If you want to measure the size of a metropolitan area, then measure the metropolitan population. City boundaries cover different sized areas--and they always have (though the disparity has probably increased since about 1900 or so when more cities began annexing their surrounding communities). For example, San Francisco only covers 49 square miles while Houston cover nearly 600 square miles. No one argues about the population rankings of either city even though they clearly cover extremely different sized areas. Indianapolis is the 13 largest city by population in the U.S. That is a fact. While the population of a metropolitan area may give you a better sense of how large a community is, as noted, even metro areas can vary widely in the size of geographic area they cover--so that is not a perfect comparison either.

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