Commercial Real Estate

Investor places first bet on Zionsville's Main Street

March 12, 2013
Tom Harton
Eric Bretzman, an engineer for Chip Ganassi Racing, closed March 1 on the purchase of 40 S. Main and negotiated a new long-term lease with il Villagio, an Italian restaurant that has operated in the 4,000-square-foot building for 10 years.
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Annexation request crimps Anderson land plan

March 11, 2013
Associated Press
Efforts by Anderson officials to annex land to create an economic development corridor could be thwarted by a request from property owners who want to become part of the town of Lapel instead.
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Kite Realty is makeover artist for tired shopping centersRestricted Content

March 9, 2013
Cory Schouten
Having rejuvenated Glendale Town Center and Rivers Edge, Kite is turning its attention to Rangeline Crossing in Carmel.
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Fourth-quarter 2012 commercial real estate statistics for IndianapolisRestricted Content

March 9, 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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Besides parking, garage could aid Broad RippleRestricted Content

March 9, 2013
Scott Olson
Some are hoping the structure will lure more business to the neighborhood.
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Carmel puts 7-acre parcel up for grabs

March 9, 2013
Kathleen McLaughlin
Carmel is finally ready to redevelop the former Party Time Rental site on Range Line Road, a property in which the city has invested $4 million.
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Site swaps could clear the way for $43M Mass Ave projectRestricted Content

March 9, 2013
Cory Schouten
City officials are working on a deal that could result in a new headquarters and downtown station for the Indianapolis Fire Department, a fresh user for a vacant former car dealership, and long-awaited groundbreaking on a $43 million apartment and retail redevelopment on Mass Ave.
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Ballard plans new redevelopment effort for Market Square site

March 7, 2013
Dan Human, Kathleen McLaughlin
Mayor Greg Ballard, in his annual State of the City speech scheduled for Friday, plans to call for new proposals for the downtown site that previously was home to Market Square Arena. The city expects the proposals to include a high-rise building with a major retail component.
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Baldwin move a win for Lauth, a setback for downtown

March 5, 2013
Cory Schouten
The departure of trucking and auto fleet insurer Baldwin & Lyons Inc. from downtown's Landmark Center to The Congressional in Carmel is a blow for the central business district and a bonanza for Lauth Property Group.
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LEADING QUESTIONS: Mainstreet CEO masters efficiency

February 27, 2013
Mason King
LQ_Turner_WatchVideo MainstreetWhat are Zeke Turner's top five strategies for keeping his work week under 40 hours? Do you really need work e-mail on your smart phone? What's it like to take a company public? The real estate exec has answers.
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Carmel family members accused of securities fraud

February 26, 2013
Scott Olson
The Indiana securities division accuses Charles Blackwelder, Chad Blackwelder and Cara Grumme of defrauding elderly investors in a scheme to sell ownership interests in rental properties.
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Ironworks project gets key city approval

February 26, 2013
Tom Harton
The city's Metropolitan Development Commission approved a Wisconsin developer's plan for a $30 million apartment and retail project to be built on the site of the former Woodfield Centre retail strip.
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Ambrose snags large industrial deal

February 26, 2013
Tom Harton
Ambrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution center for Gordmans Inc.
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Three years after opening, Indiana Design Center fillsRestricted Content

February 23, 2013
Norm Heikens
Tenants include interior designers, artists, kitchen cabinet firms.
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REI, Chicago partner picked to build office building at IUPUI

February 19, 2013
Tom Harton
The five-story, $22.9 million building would be constructed on university-owned land at the northeast corner of New York Street and University Boulevard.
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Bankruptcy stops condos' auction

February 18, 2013
Dan Human
An Indianapolis developer’s last-minute bankruptcy filing halted the auction of a struggling downtown condominium project.
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Drywall contractor charged with underpaying employees

February 15, 2013
Dan Human
An Indianapolis drywall contractor faces criminal charges that he underpaid his employees working on a government housing project, and then falsified documents to cover it up, the Marion County Prosecutor's Office announced Friday.
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Downtown projects face crucial hurdles

February 12, 2013
Tom Harton
Two downtown apartment projects seek critical government approvals in the next month, while  another commercial project is on track to start this year.
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CIB cuts price on Ober Building after inspections

February 11, 2013
Cory Schouten
The Capital Improvement Board of Marion County has agreed to slash its sale price on downtown's Ober Building by $700,000 after inspections showed problems including a leaky roof and damaged HVAC system.
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Kite sells 3 area buildings in dealmaking blitz

February 7, 2013
Cory Schouten
The Indianapolis-based real estate company disclosed the transactions in its fourth-quarter financial report. Kite said it lost $6.5 million in the quarter on nearly $27 million in revenue.
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Wal-Mart revisits plan for Greenwood store

February 7, 2013
Associated Press
A retail giant that lost its bid to build a store in Greenwood nearly a decade ago is hoping local leaders look more favorably on a new proposal to erect a smaller store at the same site.
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Bales trial in jury's hands after colorful closings

February 7, 2013
Cory Schouten
During three hours of closing arguments Wednesday in the federal fraud trial of real estate broker John M. Bales and William E. Spencer, a federal prosecutor and two top-tier Indianapolis defense attorneys delivered a series of memorable one-liners and rhetorical flourishes designed to stick with jurors.
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UPDATE: Defense takes turn in Marsh civil trial

February 6, 2013
Scott Olson
Don Marsh finally got off the hot seat Wednesday afternoon after his former company wrapped up nearly two days of questioning, but he didn't stay off the witness stand for long.
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Long-struggling condo development going to auction

February 5, 2013
Tom Harton
The mostly two-bedroom units represent the bulk of the ill-fated Chatham Kynett Court project at 716 N. East St. in the Chatham Arch neighborhood.
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Simon ups dividend after beating analysts' expectations

February 4, 2013
Bloomberg News, Associated Press
The Indianapolis-based shopping mall owner reported funds from operations, a key measure of a real estate company's performance, of $2.29 a share, topping the average estimate from analysts of $2.17 a share.
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  1. I think the poster was being sarcastic and only posting or making fun of what is usually posted on here about anything being built in BR or d'town for that matter.

  2. Great news IRL fans: TURBO the IMS sanctioned movie about slugs running the Indy 500 has caught the Securities and Exchange Commission because Dreamworks had to take a $132MILLION write down...because the movie was such a flop. See, the Indy/IMS magic soiled another pair of drawers. Bwahahahahahaha! How's CARTOWN doing? HAHAHAHA...Indy is for losers.

  3. So disappointed in WIBC. This is the last straw to lose a good local morning program. I used to be able to rely on WIBC to give me good local information, news, weather and traffic on my 45 minute commute.Two incidents when I needed local, accurate information regarding severe weather were the first signs I could not now rely on WIBC. I work weekend 12 hour nights for a downtown hospital. This past winter when we had the worst snowfall in my 50 years of life, I came home on a Sunday morning, went to sleep (because I was to go back in Sunday night for another 12 hour shift), and woke up around 1 p.m. to a house with no electricity. I keep an old battery powered radio around and turned on WIBC to see what was going on with the winter storm and the roads and the power outage. Sigh. Only policital stuff. Not even a break in to update on the winter storm warning. The second weather incident occurred when I was driving home during a severe thunderstorm a few months ago. I had already gotten a call from my husband that a tornado warning was just southwest of where I had been. I turned to WIBC to find out what direction the storm was headed so I could figure out a route home, only to find Rush on the air, and again, no breaking away from this stupidity to give me information. Thank God for my phone, which gave me the warning that I was driving in an area where a tornado was seen. Thanks for nothing WIBC. Good luck to you, Steve! We need more of you and not the politics of hatred that WIBC wants to shove at us. Good thing I have Satellite radio.

  4. I read the retail roundup article and tried Burritos and Beers tonight. I'm glad I did, for the food was great. Fresh authentic Mexican food. Great seasoning on the carne asada. A must try!!! Thanks for sharing.

  5. 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...

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