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Commercial Real Estate
Agency urges complete overhaul of Pan Am Plaza garage
October 7, 2011
Indianapolis' Department of Code Enforcement made the recommendation Friday afternoon after citing safety concerns posed by
possible structural deficiencies.
MoreDeveloper proposes $22M project for Keystone Towers site
October 6, 2011
Scott OlsonThe Whitsett Group LLC's plans call for a $22 million project that would include nearly 140 apartments and a retail component
on the property where Keystone Towers stood. The company submitted the lone bid to the city to redevelop the site.
MoreCommission approves demolition for Indy East Motel
October 6, 2011
Francesca JaroszThe Indianapolis Historic Preservation Commission unanimously approved the demolition of the former motel at 5585 E. Washington
St.—with a few conditions. Developers plan an $8.7 million project for the site.
MoreLottery says it overspent on amenities for new office
October 5, 2011
Associated PressIndiana lottery officials say they overspent on their new headquarters and will sell some of their equipment after reports
raised questions about the lavish facility.
MoreSimon Property Group gets new $4B credit facility
October 5, 2011
Associated PressIndianapolis-based shopping mall giant Simon Property Group Inc. has received a new $4 billion unsecured revolving credit
facility.
MoreCalifornia firm's Park 100 portfolio goes back to lender
October 4, 2011
Tom HartonCalifornia-based Blue Real Estate lost the last big chunk of its Indianapolis portfolio last week when a lender took control
of Blue’s 360,000-square-foot, seven-building portfolio in Park 100.
MoreReport holds next steps for Pan Am Plaza garage
October 3, 2011
Francesca JaroszPart of the Pan Am Plaza parking garage has reopened after being closed for several hours for emergency repairs late last
week, but a report will reveal whether more extensive work is needed to restore the garage to a structurally sound state.
MoreParking already at a premium at Rivers Edge shopping center
October 1, 2011
Cory SchoutenThe 617 parking spaces at the newly renovated Rivers Edge shopping center meet the minimum commercial-zoning allotment—but
just barely.
MoreInvestor Buffett gets behind east-side revitalization project
September 28, 2011
Scott OlsonWarren Buffett joined other investors and Indianapolis community leaders Wednesday morning for a ribbon-cutting ceremony at
the $27 million East Village at Avondale apartment project.
MoreDeveloper zeroes in on troubled Irvington site
September 27, 2011
Tom HartonA developer that wants to replace a vacant Irvington motel with an $8.7 million apartment building could get permission as
early as next week to clear the site for redevelopment.
MoreCircle Centre resolves lease dispute with Cinnabon
September 26, 2011
An attorney for the downtown Indianapolis mall has filed to dismiss the complaint, saying the two sides have resolved the
dispute through an out-of-court settlement.
MoreLafayette Square coalition names executive director
September 24, 2011
IBJ StaffMary Chalmers, a neighborhood liaison for the city, will leave that post to lead the effort to improve the area near 38th
Street and Lafayette Road.
MoreBig ambitions for small planning firm
September 24, 2011
Andrew SmithEden Collaborative, the three-man company Adam Thies founded in 2004, is working to revitalize St. Clair Place on Indianapolis’
east side, among other projects.
MoreIndustrial-market sales this year end deal drought
September 20, 2011
Tom HartonThrough the first eight months of this year, there were at least seven sales of large industrial properties in the market,
compared with zero last year.
MoreOwner finding new tenants for former Macy's
September 17, 2011
Cory SchoutenHigh-end custom homebuilder Moussa Khoury and a partner bought the former Macy's store at Washington Square Mall in 2009 for
about $775,000. They paid cash since commercial lending had vanished. Two years later, the investment has begun paying off.
MoreDowntown Hyatt upgrades hotel rooms
September 17, 2011
IBJ StaffThe renovation, which will be finished in January, includes all 499 guest rooms and suites and the hotel's corridors.
MorePan Am Plaza damage subject of court battles
September 15, 2011
Chris O'MalleyThe owner of Pan Am Plaza’s parking garage, which the city partially closed on Wednesday over safety concerns, has fought
legal battles over the damage with Indiana Sports Corp. and Central Parking System.
MoreTexas firm buys water-park hotel on northwest side
September 15, 2011
IBJ StaffGeneral Hotels Corp. has finalized the sale of the Caribbean Cove Hotel & Water Park, averting closure of the 344-room
hotel and saving 266 jobs.
MoreCity closes downtown plaza after parking deemed unsafe
September 14, 2011
Associated PressThe city of Indianapolis has closed Pan Am Plaza and part of a parking garage below it near the Indiana Convention Center
and Lucas Oil Stadium because the structural integrity of the parking facility poses a safety risk.
MoreOwner of East Market Street buildings eyes apartment conversion
September 13, 2011
Tom HartonCrown Property Group is issuing a request for proposals for two East Market Street buildings that now are used for office
space.
MoreIndianapolis building owners, managers pressed to protect birds
September 10, 2011
Chris O'MalleyThe Audubon Society has documented hundreds of birds killed downtown in the past two years as birds are attracted to the city
lights and then fly into windows.
MoreNew owners aim for big profit after buying IPS school on the cheap
September 6, 2011
Cory SchoutenThe buyers of former IPS School 64 stand to make hundreds of thousands of dollars if they manage to flip the property they
bought for just $20,000.
MoreTax bills spur eBay listing for Anderson office buildings
September 5, 2011
IBJ Staff and Associated PressTwo investors stung by soaring property taxes have listed three Anderson office buildings on eBay in hopes of drumming up
interest in the $4.5 million package deal.
MoreJack in the Box revives local expansion push
September 3, 2011
IBJ StaffThe burger chain has applied for zoning approval to build a restaurant near 16th and Meridian streets, just south of CVS drugstore.
It would be one of 10 stores it plans to open here.
MoreAnalysts react positively to Finish Line purchase
September 1, 2011
Scott OlsonThe Indianapolis-based retailer's acquisition of an 18-store specialty running chain should produce better results than some
past miscalculations, analysts say.
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Can IBJ please stop referring to this property as "Kessler Mansion"? What a ridiculous title for the biggest, bloated, blight in our city. It's not a mansion. At best, it's an ideal site to shoot low-budget porn. Ahhh! Another business use!
Its stories like these that prove that a Ball State diploma is worth less than the paper that its printed on. A real institution of higher learning would have taken care of this long ago. No way should this crap be taught in a SCIENCE class.
It is such a shame that King Ballard has made Indianapolis into Chicago south with all of the rampant corruption.
How many of these 1,259 bills were actually heard and voted on on the floor vs how many were shot down in committee?
When a an arrogant young guy with essentially no experience and no qualifications for the job, was dropped into an Administrator position out of nowhere by his "mentor" in the Mayor's office things seemed fishy. Sometimes things are what they seem.