Commercial Real Estate

Butler Automotive snaps up 96th Street parcel for dealership

January 29, 2013
Tom Harton
An affiliate of Butler Automotive Group bought more than 19 acres at the northwest corner of East 96th Street and Randall Drive in late December and is seeking permission from Carmel to build a structure that would house Butler Hyundai.
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Indiana House OKs looser rules on selling old schools

January 28, 2013
Associated Press
The Indiana House has approved a bill that would shorten the time that school districts must hold onto vacant buildings in case a charter school operator wanted to move into the building.
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Real estate developers' exhilaration turns to pain in bankruptcyRestricted Content

January 26, 2013
Greg Andrews
Many Indianapolis developers know the feeling. In good times, few industries generate an adrenalin rush like real estate development. But it’s a highly leveraged business built upon certain assumptions that proved flimsy when the financial crisis hit.
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Bales' trial could turn on definition of ownershipRestricted Content

January 26, 2013
Cory Schouten
The jury trial in South Bend for real estate developer John Bales and his general counsel, William E. Spencer, is scheduled to begin Jan. 28 and last up to two weeks. Bales and Spencer, both 45, are facing 13 counts, including wire and mail fraud.
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HHGregg ratchets back, but analysts still uneasyRestricted Content

January 19, 2013
Greg Andrews
HHGregg now has 228 stores in 20 states. So it has grown a great deal. But the “exceptional store economics” it used to promote are gone, thanks largely to a breathtaking collapse in sales of flat-screen televisions.
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Mall REITs soared in 2012 by ditching struggling centers

January 18, 2013
Bloomberg News
Mall owners, including Simon Property Group Inc. and General Growth Properties Inc., have been moving on from struggling retail centers as the economic rebound drives them to focus on the best-performing markets.
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Retailer plans 250-worker Hendricks County warehouse

January 17, 2013
Gordmans, an apparel and home decor retailer, said it will spend $37.5 million to construct and equip a 545,000-square-foot distribution center in Clayton.
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$1.5M plan to salvage Di Rimini nears finish line

January 15, 2013
Cory Schouten
The bank that owns the hulking pile of code violations known as Di Rimini at the southeast corner of Capitol Avenue and St. Clair Street is poised to invest more than $1.5 million to finish the ill-fated project.
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Cassidy Turley offers mixed outlook on Indy real estate

January 10, 2013
Cory Schouten
The city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already sluggish recovery.
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Duke Realty sells six-building local office complex

January 9, 2013
Cory Schouten
Two Illinois companies have acquired a six-building, 446,000-square-foot Indianapolis office portfolio from locally based Duke Realty Corp. Industry sources say the buildings sold for more than $20 million.
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Local elevator service firm bought by German company

January 8, 2013
The Indianapolis elevator repair and installation company has been acquired by ThyssenKrupp AG. Amco Elevator was founded in 1965 and had been locally owned until the purchase.
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$30M Keystone mixed-use project seeks city approval

January 8, 2013
Tom Harton
Hendricks Commercial Properties wants to build a five-story, L-shaped building with more than 36,000 square feet of ground-level retail space and 130 high-end apartments on the upper floors.
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Fortune's death puts 14 West building up for grabsRestricted Content

January 5, 2013
Cory Schouten
A historic brick building long used as a restaurant and hotel suites next door to Circle Centre mall is going up for sale for the first time in almost a decade, with an expected asking price of $4 million.
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Investor: Kroger missed chance to buy ‘linchpin’ propertyRestricted Content

January 5, 2013
 IBJ Staff
Owner of real estate near 16th and Central says grocery chain showed little interest, but Kroger says it still wants property to make way for new downtown store.
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Bales partner pleads guilty in deal with prosecutors

January 4, 2013
Cory Schouten
Indianapolis attorney and developer Paul J. Page has agreed to cooperate with federal prosecutors in an investigation that targets former Marion County Prosecutor Carl Brizzi.
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Developer loses fraud appeal

December 28, 2012
Scott Olson
The Indiana Court of Appeals affirmed Christopher White's 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
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Former Lifestyle gym building target of foreclosure

December 28, 2012
Scott Olson
The owner of the building at 4225 E. 82nd St. owes $4.9 million on a $7.4 million loan, according to the suit. The tenant, Lifestyle Family Fitness, closed the location in November 2011.
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2012 NEWSMAKER: CEO keeps Simon stock surging

December 28, 2012
 IBJ Staff
If there were an MVP for local CEOs, David Simon would again find himself at or near the top of the list in 2012.
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Kite continues Southeast push with $37.3M in acquisitions

December 27, 2012
 IBJ Staff
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
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Irvington groups save landmark from demolition

December 26, 2012
Dan Human
The former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood. About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
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25-acre retail project aims to hook groceryRestricted Content

December 22, 2012
Cory Schouten
Developers are moving forward on plans for a 25-acre, grocery-anchored redevelopment in the Highland-Kessler neighborhood after winning city zoning approval this month.
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Judge: Indiana districts can sell schools despite law

December 19, 2012
Associated Press
A judge has ruled that two northeastern Indiana school districts can sell vacant schools, bypassing a state law requiring them to wait four years in case a charter school wanted to claim the buildings.
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Developer close to starting project at 116th, Springmill

December 18, 2012
Tom Harton
Gershman Brown Crowley Inc. is in the process of getting design approval from the city of Carmel for a 9,600-square-foot retail building and a 13,200-square-foot CVS pharmacy.
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Buyer of vacant Connersville factory gets more time

December 17, 2012
Associated Press
Officials of an eastern Indiana city are giving the potential buyer of a large vacant auto parts factory more time to close on the purchase.
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Pendleton turns to past to revitalize its downtown

December 14, 2012
Associated Press
The town 25 miles northeast of Indianapolis was approved for the state's branch of Main Street, a project of the National Trust for Historic Preservation, aimed at helping communities revitalize their downtowns and neighborhood commercial districts.
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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

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