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Commercial Real Estate
Receiver appointed in $16.8M foreclosure suit
August 29, 2011
Scott OlsonLender Merrill Lynch Mortgage Trust is foreclosing on several Indianapolis commercial properties, including two retail centers,
owned by Greenwood developer Presnell Cos.
MoreCircle Centre wants Cinnabon out of mall
August 29, 2011
Scott OlsonA lawsuit filed by the downtown Indianapolis mall accuses Cinnaworks LLC, a franchisee of Cinnabon, of failing to pay its
$6,751-per-month rent.
MoreKeystone Towers tumble down
August 28, 2011
IBJ Staff and Associated Press
Hundreds of people watched from nearby as explosives brought down a
long-shuttered Indianapolis apartment tower near the Indiana State Fairgrounds that had become a neighborhood eyesore and
a haven for crime.
Developer rolls out $40M plan for Keystone site
August 27, 2011
Cory SchoutenA local developer has acquired the northwest corner of 86th Street and Keystone Avenue and is working on plans for a $40 million
apartment and retail project.
MoreExperts say options abound for former GM stamping plant
August 27, 2011
Cory SchoutenThe 2-million-square-foot GM Indianapolis Metal Center, closed this year, sprawls over more than 100 acres on the west bank
of the White River and enjoys some of the best views of the downtown skyline.
MoreFirst step: Tear stamping plant down
August 27, 2011
Jeff Gearhart / Special to IBJTear it down and clean it up was the message delivered by a former redevelopment director from South Bend as she spoke to
representatives from cities who were about to lose their GM plants.
MoreGM site ripe for manufacturing or a judicial center
August 27, 2011
Chris Barnett / Special to IBJThe Urban Land Institute panel’s plan for the General Motors plant site ignores some realities in favor of presenting
a relatively predictable New Urbanism redevelopment plan.
More'Expand the smorgasbord' at former GM site
August 27, 2011
Gordon Hendry / Special to IBJIndianapolis has a rich history of turning challenging redevelopment projects into local success stories, and I have no doubt
the GM Stamping Plant will become part of that history as officials determine the best uses for the expansive site near downtown.
MoreFire heavily damages Aristocrat restaurant
August 25, 2011
The restaurant at 5212 N. College Ave. sustained $1.5 million in damage. Firefighters were called to the two-story, 6,000-square-foot
building early Thursday morning.
MoreReal estate firms push to avoid notice in Obama tax rewrite
August 24, 2011
Bloomberg NewsThe industry, which includes Indianapolis-based REITs Simon Property Group Inc. and Duke Realty Corp., is guarding against
a potential proposal from the Obama administration that would impose new taxes on partnerships and similar companies
MoreGreenwood developer target of foreclosure suit
August 24, 2011
Two Indianapolis-area retail centers are listed in a $16.8 million lawsuit that includes a total of six properties owned by
the Presnell Companies of Greenwood.
MoreBroad Ripple group doubles down in fight over Kilroy's
August 23, 2011
Cory SchoutenMembers of the Broad Ripple Village Association are vowing to continue their fight against a new Kilroy's Bar n' Grill
after they were denied a chance to speak out about the plan at a public hearing.
MoreCity to give Angie's List $4.6M to buy properties for expansion
August 16, 2011
Kathleen McLaughlinMoney for real estate acquisition is a major component of the $7.1 million in incentives the city of Indianapolis offered
Angie's List Inc. for expanding its headquarters campus to accommodate 500 more employees.
MoreLocal architecture firm moving HQ to former church
August 16, 2011
Cory SchoutenThe architecture firm A2SO4 plans to spend about $1 million to renovate a long-vacant former Catholic church near the Lockerbie
neighborhood as its new headquarters.
MoreEastgate owner plots unusual office-space strategy
August 9, 2011
Cory SchoutenThe owner of the former Eastgate shopping center has begun marketing a third phase of its mall overhaul: About 225,000 square
feet of emergency backup office space.
MoreOwner attempting to foreclose on Walker Theatre property
August 8, 2011
Scott OlsonTheater directors agreed to purchase the property north of the theater on contract in January 2006. Officials hoped to use
the land to accommodate an expansion that never materialized.
MoreKite sees smaller loss, more revenue in 2nd quarter
August 4, 2011
IBJ StaffKite Realty Group Trust saw a smaller loss and higher revenue in the second quarter compared to the same quarter a year ago,
the Indianapolis-based real estate investment trust announced late Thursday.
MoreNorth of South gets a new name: CityWay
August 3, 2011
Cory SchoutenThe $156 million mixed-use development at Delaware and South streets in Indianapolis has a new name designed to reference
both the project's downtown locale and the urban "way of life" it will offer.
MoreFormer Nordstrom space could find Super Bowl use
August 2, 2011
Scott OlsonThe massive space in Circle Centre mall vacated by high-end retailer Nordstrom could be used to host corporate events surrounding
the big game.
MoreDeveloper of government building sees potential for more
August 2, 2011
Tom HartonAmbrose Property Group broke ground last month on a 13,000-square-foot building at Intech Park that will house about 75 Social
Security Administration employees.
MoreKeystone Towers implosion set for late August
August 1, 2011
IBJ StaffThe long-vacant Keystone Towers apartment complex will be imploded Aug. 28 at 8 a.m., the Department of Metropolitan Development
announced Monday afternoon.
MoreMeridian latest brokerage to make affiliation move
August 1, 2011
Cory SchoutenThe commercial real estate brokerage Meridian Real Estate is picking up the NAI Global affiliation previously held by Olympia
Partners, which folded in January after a 20-year run.
MorePrecedent joins ranks of battered developers
July 30, 2011
Cory SchoutenThe Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale
residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.
MoreLenders attempting to foreclose on Broadbent headquarters
July 28, 2011
Scott OlsonHuntington National Bank and PNC Bank claim they are owed roughly $25 million on loans related to Broadbent Co.'s purchase
and renovation of a building on East Washington Street downtown.
MoreDuke Realty suffers loss on lower revenue
July 28, 2011
The Indianapolis-based real estate investment trust said it lost $29 million in its latest quarter, compared with a loss of
$42.4 million in the same time frame a year earlier.
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You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.
For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
Three Magi
Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.