Commercial Real Estate

Ex-concrete plant to be razed for Greenwood nature area

August 31, 2012
Associated Press
A former concrete plant in Greenwood faces the wrecking ball to make room for a wider road. The city plans to raze the former Prairie Materials concrete plant so it can turn Worthsville Road into a major boulevard that can handle traffic from a planned Interstate 65 exit.
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Major Westfield development projects making progress

August 29, 2012
Scott Olson
Several big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.
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Bell Techlogix landlord buys tech firm's new headquarters

August 28, 2012
Tom Harton
Philadelphia-based BPG Properties Ltd., which owns the building at 8888 Keystone Crossing that Bell is vacating, has purchased Bell’s new headquarters at 4400 W. 96th St.
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Investor urges General Growth to pursue being acquired by Simon

August 27, 2012
Bloomberg News
Bill Ackman’s Pershing Square Capital Management LP, the second-largest investor in General Growth Properties Inc., urged the mall owner to enter negotiations for a takeover by rival Simon Property Group Inc.
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North-side office building falls into foreclosure

August 27, 2012
A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.
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Potential for Simon-General Growth deal appears to dim

August 25, 2012
Bloomberg News
General Growth Properties' largest shareholder said it won’t pursue a takeover of the company and has no interest in unloading its stake after investor Bill Ackman urged the mall owner to consider a sale.
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Software firm Interactive Intelligence needs more spaceRestricted Content

August 25, 2012
Chris O'Malley
The call center software maker won’t comment on a report issued earlier this month by Jones Lang LaSalle that said the company is shopping for more than 225,000 square feet of office space.
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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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  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1

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