Commercial Real Estate

Local REITs charge ahead of pack in bull market

March 27, 2013
Scott Olson
Indiana real estate investment trusts are hitting new highs while outpacing the bull market and their peers in the usually hardy and suddenly hot sector.
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Whole Foods shelves store slated for Fishers

March 26, 2013
Andrea Muirragui Davis
High-end grocery chain Whole Foods Market Inc. wants to triple the number of stores it operates, but the company has bagged plans for a location on 116th Street in Fishers.
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Bru, Mesh owner planning third eatery in Mass Ave neighborhood

March 26, 2013
Scott Olson
Mike Cunningham has signed a letter of intent to buy a building at 620 N. East St. that he said would house a "new American diner."
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HealthLease to snare $141.7M in senior properties

March 25, 2013
Mason King
A central Indiana REIT that went public in 2012 has agreed to buy 13 senior housing and care facilities in three states, growing its asset value by 50 percent.
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Barron's enthrones Simon among world's best CEOs

March 25, 2013
Mason King
Already one of the most highly regarded CEOs in Indiana and in his industry, David Simon of Simon Property Group now is keeping company with the likes of Warren Buffett, Amazon's Jeff Bezos and Larry Page of Google.
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Two projects would give Nora Plaza a face-liftRestricted Content

March 23, 2013
Scott Olson
The developer of Nora Plaza is planning a $2 million redevelopment of a building that formerly housed Café Nora in the popular north-side shopping center, and anchor Whole Foods is expanding into 5,700 square feet of space north of its existing store.
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Summit’s headquarters earns double LEED certificationRestricted Content

March 23, 2013
Summit earned the environmental accolades by including a variety of green-friendly features, including carpeting made from recycling materials, paints with low or no volatile organic compounds, and HVAC and LED lighting systems with energy-efficient controls.
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Centre Properties puts 3 strip centers into Chapter 11

March 19, 2013
Scott Olson
The Indianapolis developer said the bankruptcy filings are intended to prevent lender Bank of America from forcing the sale of RiverPlace Shops in Fishers, Raceway Market Shops in Indianapolis and Greenwood Crossing in Greenwood.
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Geico service center to create up to 1,200 jobs in Carmel

March 18, 2013
Mason King
The insurer will invest millions to lease, renovate and equip a 109,000-square-foot customer service center at 101 W. 103rd St. It plans to begin hiring immediately, and bring up to 1,200 new jobs by 2016.
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Simon differs from other mall owners on teen policy

March 13, 2013
Kathleen McLaughlin
As local activists push for stronger steps to curb disruptive gatherings by teenagers at local shopping malls, Simon Property Group is standing by a corporate policy against restricting access to its properties.
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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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  1. So as I read this the one question that continues to come to me to ask is. Didn't Indiana only have a couple of exchanges for people to opt into which were very high because we really didn't want to expect the plan. So was this study done during that time and if so then I can understand these numbers. I also understand that we have now opened up for more options for hoosiers to choose from. Please correct if I'm wrong and if I'm not why was this not part of the story so that true overview could be taken away and not just parts of it to continue this negative tone against the ACA. I look forward to the clarity.

  2. It's really very simple. All forms of transportation are subsidized. All of them. Your tax money already goes toward every single form of transportation in the state. It is not a bad thing to put tax money toward mass transit. The state spends over 1,000,000,000 (yes billion) on roadway expansions and maintenance every single year. If you want to cry foul over anything cry foul over the overbuilding of highways which only serve people who can afford their own automobile.

  3. So instead of subsidizing a project with a market-driven scope, you suggest we subsidize a project that is way out of line with anything that can be economically sustainable just so we can have a better-looking skyline?

  4. Downtowner, if Cummins isn't getting expedited permitting and tax breaks to "do what they do", then I'd be happy with letting the market decide. But that isn't the case, is it?

  5. Patty, this commuter line provides a way for workers (willing to work lower wages) to get from Marion county to Hamilton county. These people are running your restaurants, hotels, hospitals, and retail stores. I don't see a lot of residents of Carmel working these jobs.

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