Commercial Real Estate

Noble Roman's gets rolling with take-and-bake franchises

June 18, 2013
Mason King
Since October, franchisees have opened the first seven stand-alone, take-and-bake locations—dubbed Noble Roman’s Take-n-Bake P’ZA. Nine more are in development or under construction.
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Incentives draw industrial developer to AmeriPlex

June 18, 2013
Scott Olson
A city tax abatement has led Atlanta-based Industrial Developments International to build a 794,608-square-foot speculative building in AmeriPlex and to plan construction of another, 460,000-square-foot building there.
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Out-of-state developer pitches $75M Carmel project

June 11, 2013
Andrea Muirragui Davis
Baltimore-based Atapco Properties wants to redevelop 34 acres of land at Carmel Drive and Guilford Road, converting a portion of the commercial property to residential use with hundreds of apartments.
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Woodard sells Canterbury Hotel to Ohio firm

June 11, 2013
Scott Olson
Local businessman Turner Woodard had owned the upscale downtown hotel since 2010. Terms of the deal with Columbus, Ohio-based RockBridge Capital LLC, a hotel investment firm, were not disclosed.
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AT&T building's new owner targets first-floor retail

June 11, 2013
Scott Olson
Geis Properties, a division of Streetsboro, Ohio-based Geis Cos., purchased the 558,000-square-foot building for $16.5 million late last month from AT&T, which is reducing its downtown presence.
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Riley CDC names successor to retiring executive directorRestricted Content

June 8, 2013
Eric Strickland’s appointment was effective June 1. He brings more than 18 years of engineering, real estate development and economic development experience to the organization.

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Center Township trustee to list Mass Ave buildingRestricted Content

June 8, 2013
Kathleen McLaughlin
The township board in late May gave Trustee Eugene Akers permission to list the property, which has a five-story office building on 1-1/3 acres of land.
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Cummins looking to build downtown Indy officesRestricted Content

June 8, 2013
Scott Olson
Cummins Inc. wants to expand its downtown Indianapolis presence and is searching for land to construct an office building that would double the space the Fortune 500 company occupies in the city, several local office brokers said.
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Fishers, Noblesville put cuffs on charities to recoup tax revenue

June 8, 2013
Andrea Muirragui Davis
Two growing Hamilton County communities looking to build their commercial tax base are taking steps to ensure land targeted for development doesn’t end up in the hands of organizations that don’t pay taxes.
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Vacant GM stamping plant to be demolished

June 7, 2013
Kathleen McLaughlin
The 2.1 million-square-foot plant, which sits on 102 acres near downtown, opened in 1930 and employed more than 5,000 at its peak. That number was fewer than 700 when it closed two years ago.
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City’s first spec office building in 5 years opening doors

June 5, 2013
Scott Olson
Sourwine Real Estate Services expects to have its $12 million, 80,700-square-foot project finished later this month in one of the city's hottest north-side development areas.
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Simon investors can proceed with CEO pay suit, judge rules

June 5, 2013
Bloomberg News
Simon Property Group Inc. investors can continue with a lawsuit in which company directors are accused of improperly raising CEO David Simon’s pay without shareholder approval, a judge ruled.
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Buckingham set to redevelop Carmel shopping center

June 4, 2013
Scott Olson
The Carmel Marketplace on East Carmel Drive is directly south of the Mohawk Hills apartment complex, which Buckingham hopes to start redeveloping as part of its long-awaited Gramercy project late this year.
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Simon to buy $569M stake in European mall operator

June 3, 2013
Bloomberg News
Simon will gain an ownership stake in six McArthurGlen properties in Austria, the Netherlands, Italy and the United Kingdom, and become a partner in the London-based firm's real estate management and development business.
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Bank seeks to foreclose on architectural firm’s HQ

June 3, 2013
Scott Olson
KeyBank has filed a lawsuit against A2SO4 Architecture and is asking a judge to appoint a receiver to manage the property at 540 N. College Ave. The bank says it is owed nearly $1 million.
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Cornerstone, partners reap $120M selling medical propertiesRestricted Content

June 1, 2013
Cornerstone plans to use sale proceeds to help finance projects in the works in Indianapolis, Noblesville, Bloomington and West Lafayette, in addition to one in Mississippi.
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Mainstreet plans $9.2M nursing home on northwest side

May 31, 2013
Kathleen McLaughlin
The 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef.
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Horizon Bank gains access to Mass Ave with building purchase

May 28, 2013
Scott Olson
Michigan City-based Horizon Bank bought the two-story building at 302 N. Alabama St. for $1.5 million and is embarking on a "substantial" investment in the property.
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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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  1. These higher rates Co. e about only because physicians are now hospital employees. otherwise physicians couldn't charge these rates and share the windfall with the hospital. Community/rural hospitals probably not buying physicians practices and thus weren't getting the windfall anyway.

  2. The incentive for poor people to get themselves off public assistance and "no longer be poor" is even with help...they're STILL POOR! Being poor, even with some assistance, isn't all that pleasant. (I speak from experience) It's a stubborn myth that poor people, who are on public assistance, are sitting in the lap of luxury. You should try living on just those "freebies" that you mentioned and see how meager they actually are. By the way, I didn't mean you had to buy/own a puppy...just pet one. :)

  3. As near as I can tell the minority has ZERO constitutional obligation to offer a quorum to the majority. A requirement for quorum was inserted into the constitution so that tyrannical majorities could not simply shove through odious and objectionable legislation (which is exactly what they did.) By allowing a tyrannical majority to charge fines against the minority for exercising their constitutional prerogative to deny quorum the court as made a mockery of constitutional governance in the state of Indiana.

  4. The voters elected the Reps to make a vote not walk out on the vote. They had to the right to exercise their opinion and vote "no" to the bill. Let me ask you this if you walked out of your job for 5 straight weeks would you get paid? Would you even have a job to go back to? If any elected official walks out on the people they should be arrested for stealing tax dollars from the public. They were elected to do a job and not leave when the job gets stuff.

  5. I have been to several of their locations in Pennsylvania and always go in for 1 item and leave with a basket full of things. I'm very happy they decided on Indiana, now if only they would put the other store in eastside.

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