Commercial Real Estate

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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Mass Ave business owners split over proposed district tax

April 24, 2013
Kathleen McLaughlin
Opponents of a proposed tax to pay for improvements throughout the cultural district have accused tax advocates of rigging the proposal to ensure its passage.
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Contractor pleads guilty to fraud involving FBI building

April 23, 2013
Associated Press
An Ohio man has admitted to defrauding more than $225,000 from contractors involved in FBI building projects in Indianapolis and Knoxville, Tenn.
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Banks scale back real estate needs as transactions shift online

April 23, 2013
Scott Olson
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
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Indy architectural gems prove genius in details

April 20, 2013
IBJ surveys 20 of downtown's most distinguished structures and examines the details that set them apart. How many of them can you name on sight?
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Architectural gems in IndianapolisRestricted Content

April 20, 2013
These jewels help distinguish some of downtown's best-dressed buildings.
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Mayor drops plan to privatize City-County Building

April 17, 2013
Kathleen McLaughlin
City rejects proposals from four private-sector real estate teams and signs a 10-year lease extension with the existing building manager.
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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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