Commercial Real Estate

Ratio Architects pursues design work in ChinaRestricted Content

August 25, 2012
 IBJ Staff
Indianapolis-based Ratio Architects Inc. has signed an agreement with Zhejiang University Design Institute in Hangzhou, China, in an attempt to pursue design work in the country.
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Tech companies converge in Warehouse DistrictRestricted Content

August 25, 2012
Chris O'Malley
Right On Interactive next month plans to move its 30 employees from 5,000 square feet at 136 E. Market St. to about 7,000 square feet on the second floor of Allen Plaza, the luxury condo complex at 1 Virginia Ave.
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Simon again considering acquisition of shopping mall rival

August 24, 2012
 IBJ Staff and Bloomberg News
One of General Growth Properties Inc.'s largest shareholders says Indianapolis-based Simon Property Group has discussed acquiring the Chicago-based shopping mall competitor.
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Historic Market Street building gets new owner

August 21, 2012
Tom Harton
The Corydon Group bought 125 W. Market St. Aug. 2 and will occupy the 4,200-square-foot top floor of the three-story building after renovations are finished in early November.
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Local developer buys 50 acres in Intech Park

August 17, 2012
Scott Olson
Ace Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
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Troubled Di Rimini apartment building closer to opening

August 15, 2012
Scott Olson
A controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer to being ready for tenants after city officials granted the project’s new owner a zoning variance.
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ICVA eyes funds from sale by CIB of downtown's Ober building

August 14, 2012
J.K. Wall
The Capital Improvement Board wants to plug a $2 million funding hole that will open up next year for the Indianapolis Convention & Visitors Association with the expiration of a $5.9 million grant from the owner of the JW Marriott hotel downtown.
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Indiana Landmarks still trying to save pre-Civil War home

August 14, 2012
Tom Harton
The Cotton-Ropkey House was built in 1850 and features Greek Revival and Italianate features, including six-over-six windows, walnut floors and crown moldings.
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Super Bowl bid might spur new downtown hotelRestricted Content

August 11, 2012
Anthony Schoettle
Downtown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a 2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
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Developers taking serious look at former GM site

August 9, 2012
Kathleen McLaughlin
At least six reputable developers, both local and national, have toured the former General Motors plant near downtown Indianapolis since it closed last year, according to an official trying to market the property. Of those, two are taking a serious look.
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Parking-garage connectors receive city approval

August 9, 2012
The Metropolitan Development Commission's plat committee has given local developer Flaherty & Collins Properties the go-ahead to include two upper-level pedestrian connectors in its plan to build a five-story parking garage downtown. The garage is part of a larger, $85 million development.
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Centre Properties retail center hit with $7M foreclosure suit

August 9, 2012
Scott Olson
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
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Simon Property directors sued over CEO’s pay

August 8, 2012
Bloomberg News
The board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included $120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
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Five in the running to manage City-County Building

August 8, 2012
Kathleen McLaughlin
Indianapolis Mayor Greg Ballard’s office is reviewing proposals from five commercial property managers that want a crack at running the City-County Building for the next 30 years.
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Indianapolis hotels see sharp increases in room revenue

August 7, 2012
Scott Olson
The Indianapolis hotel market is poised to record a 10.8-percent increase in revenue per available room in 2012, according to projections from PKF Consulting. The city's hosting of the Super Bowl gave the market a huge, early lift.
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City to consider connectors for downtown garage

August 6, 2012
Scott Olson
The developer of a five-story parking garage downtown is seeking city approval to build two upper-level pedestrian connectors to offer easier access to the garage, especially for employees of nearby OneAmerica Financial Partners Inc.
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Star's labyrinth of aging buildings complicates sale, reuse

August 4, 2012
Cory Schouten
Local real estate pros say finding a reuse for the Indianapolis Star's HQ will be tricky. The newspaper is selling its labyrinth of buildings at 307 N. Pennsylvania St., which have multiple floor levels, narrow hallways and a basement built to house printing presses.
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Kite reports larger quarterly loss, higher revenue

August 3, 2012
The Indianapolis-based real estate investment trust attributed much of the $2.7 million loss to $1.8 million in interest and depreciation expenses on some of its properties. Revenue grew to $25.1 million.
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Revamped Pan Am Plaza on track for October debut

July 31, 2012
Cory Schouten
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
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Fashion Mall landlord suing tenant over unpaid rent

July 30, 2012
Scott Olson
A division of Simon Property Group Inc. is suing Brisbane, Calif.-based Bebe Stores Inc., claiming the women's clothing retailer owes it $64,000 in unpaid rent.
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Star putting downtown headquarters on market

July 27, 2012
Anthony Schoettle
The Indianapolis Star plans to sell its headquarters building at 307 N. Pennsylvania St. and seek modern office space elsewhere downtown, the newspaper said Friday afternoon.
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Beech Grove mayor starts process to form CDC

July 27, 2012
Scott Olson
Mayor Dennis Buckley on Friday requested the establishment of a community development corporation with a signed proclamation, which will be presented to the city's development commission for consideration. He hopes to have it operating within the next month.
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Duke takes smaller loss despite falling revenue

July 25, 2012
 IBJ Staff
Indianapolis-based Duke Realty Corp. on Wednesday reported a second-quarter loss of $28.5 million, slightly smaller than a loss of $29 million in the same quarter of 2011.
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Profit stagnates at French firm with Simon Property ties

July 25, 2012
Bloomberg News
Klepierre SA, the Paris-based shopping-center landlord that's 27-percent owned by Simon Property Group Inc., said first-half profit was little changed as disposals curbed rental income growth.
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Simon boosts dividend, outlook after strong second quarter

July 24, 2012
 IBJ Staff and Bloomberg News
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
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  1. President Obama has referred to the ACA as "Obamacare" any number of times; one thing it is not, if you don't qualify for a subsidy, is "affordable".

  2. One important correction, Indiana does not have an ag-gag law, it was soundly defeated, or at least changed. It was stripped of everything to do with undercover pictures and video on farms. There is NO WAY on earth that ag gag laws will survive a constitutional challenge. None. Period. Also, the reason they are trying to keep you out, isn't so we don't show the blatant abuse like slamming pigs heads into the ground, it's show we don't show you the legal stuf... the anal electroctions, the cutting off of genitals without anesthesia, the tail docking, the cutting off of beaks, the baby male chicks getting thrown alive into a grinder, the deplorable conditions, downed animals, animals sitting in their own excrement, the throat slitting, the bolt guns. It is all deplorable behavior that doesn't belong in a civilized society. The meat, dairy and egg industries are running scared right now, which is why they are trying to pass these ridiculous laws. What a losing battle.

  3. Eating there years ago the food was decent, nothing to write home about. Weird thing was Javier tried to pass off the story the way he ended up in Indy was he took a bus he thought was going to Minneapolis. This seems to be the same story from the founder of Acapulco Joe's. Stopped going as I never really did trust him after that or the quality of what being served.

  4. Indianapolis...the city of cricket, chains, crime and call centers!

  5. "In real life, a farmer wants his livestock as happy and health as possible. Such treatment give the best financial return." I have to disagree. What's in the farmer's best interest is to raise as many animals as possible as quickly as possible as cheaply as possible. There is a reason grass-fed beef is more expensive than corn-fed beef: it costs more to raise. Since consumers often want more food for lower prices, the incentive is for farmers to maximize their production while minimizing their costs. Obviously, having very sick or dead animals does not help the farmer, however, so there is a line somewhere. Where that line is drawn is the question.

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