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Commercial Real Estate
North of South project clears rezoning hurdle
December 16, 2010
Scott OlsonThe Metropolitan Development Commission agreed to rezone 14 acres of land, which houses a parking lot north of South Street
between Delaware Street and Virginia Avenue downtown, to accommodate the $155 million mixed-use project.
MoreJudge removes Bren Simon as trustee over late husband's estate
December 16, 2010
Cory SchoutenA series of questionable decisions by Bren Simon in recent months appear to have paved the way for a Hamilton County judge’s
order this week removing Bren as interim trustee over Simon Property Group co-founder Melvin Simon’s estate.
MoreSimon bids $4.6B for U.K.'s Capital Shopping
December 15, 2010
Bloomberg NewsIndianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group
Plc that values the U.K. company at $4.6 billion.
MoreNAI Olympia brokerage firm closing after 20-year run
December 14, 2010
Cory SchoutenThe principals of NAI Olympia Partners have decided to shut down the firm after 20 years in business, leaving its competitors
to pick from more than 20 veteran office, industrial and retail brokers.
MoreSimon’s options for Capital Shopping takeover dwindling
December 13, 2010
Bloomberg NewsSimon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become
the largest mall owner in the United Kingdom.
MoreBritish mall owner rejects Simon financing plan
December 13, 2010
Bloomberg NewsCapital Shopping Centres Group Plc, Britain’s biggest shopping-mall owner, rejected a financing plan that would have
given potential suitor Simon Property Group Inc. a larger stake in the company.
MoreSummit Realty plans to grow into new headquarters
December 11, 2010
Cory SchoutenSummit Realty Group is building out a new headquarters in a historic downtown building as its principals embark on an aggressive
growth plan for the privately held company.
MoreAccounting change could have huge impact on real estate leasing
December 11, 2010
Scott OlsonProposal requires companies to book leases as assets, and stands to shift the momentum to purchases.
More$7.5M Fletcher Arts project gets back on track
December 11, 2010
IBJ StaffDeveloper and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia
Avenue and East McCarty Street.
MoreCB Richard Ellis names new managing director
December 10, 2010
The local office of the commercial real estate brokerage has named firm veteran John Merrill as its new managing director.
He replaces David Reed, who left in late August.
MoreLender seeking to foreclose on northwest-side hotel
December 9, 2010
Scott OlsonColfin NW Funding LLC claims in a court filing that it is owed $6.4 million by the borrower that operates the Courtyard By
Marriott Hotel Northwest under Indianapolis-based Schahet Hotels Inc.
MoreCosmopolitan apartment fire prompts lawsuit
December 8, 2010
Scott OlsonThe insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed
the apartment project and damaged the not-for-profit's adjacent headquarters.
MoreBuilders of faulty Indiana bridge face state-work ban
December 7, 2010
Associated PressA committee has recommended that the state highway department stop hiring Gary-based Superior Construction Co. and Indianapolis-based
bridge designer RQAW Corp. over a northwestern Indiana highway that has been closed because of safety concerns.
MoreDuke poised to buy South Florida portfolio
December 7, 2010
Tom HartonThe purchase of the $500 million portfolio of industrial and office properties would continue Duke’s recent push into
the South Florida market.
MoreDeveloper says Broad Ripple hotel will have 'green' elements
December 4, 2010
IBJ StaffDeveloper Debra Stolen Hasbrook found the site at 6520 Westfield Boulevard while running on the Monon Trail.
MoreSt. Francis Hospital project targets Greenwood's growth
December 4, 2010
IBJ StaffThe $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000
to 2009.
MoreUPDATE: City Market has tentative deal with longtime tenant
December 2, 2010
Scott OlsonCity Market operators have reached a tentative deal to settle a dispute with Grecian Garden's owners after alleging the eatery
was late on its rent payments for several months. Details of the agreement were not disclosed.
MoreNorth of South financing clears first hurdle
December 2, 2010
Scott OlsonThe Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development
near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
MoreFeds sue developer Premier over raid on retirement accounts
December 1, 2010
Cory SchoutenExecutives of defunct Indianapolis developer Premier Properties USA Inc. are negotiating to settle a lawsuit brought by the
U.S. Department of Labor that claims the company raided employee retirement accounts in a last-ditch bid to save itself in
early 2008.
MoreKite plans to raise $65 million in stock offering
December 1, 2010
The Indianapolis-based real estate investment trust said it will sell 2.6 million shares of preferred stock at $25 each to
repay debt, purchase property and use for general corporate purposes.
MoreHistoric downtown building poised for overhaul
November 30, 2010
Tom HartonDLZ Indiana closed in September on the century-old building at 157 E. Maryland St. and plans to spend nearly $2.3 million
renovating it.
MorePossible Simon bid boosts British mall owner's stock
November 26, 2010
Bloomberg NewsShares of Capital Shopping Centres Group Plc, Britain’s biggest mall owner, rose the most since the company went public
in 1992 after saying Indianapolis-based Simon Property Group Inc. may offer more than $3.6 billion in cash for the company.
MoreForeclosure washes away water park plans in Fishers
November 24, 2010
Scott OlsonDeveloper Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project
to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
MoreKeystone plans mixed-use project on Madison Avenue
November 23, 2010
Cory SchoutenA local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown.
MoreGeist apartment complex sale ends drought of Class A transactions
November 23, 2010
Tom HartonGrande Reserve at Geist fetched $13.3 million, just shy of the asking price.
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It's also across the street from Fogo de Chao and Morton's....
Yep, the haters are trying to make good news bad. I guess it is hard to get people to believe the series is dying when they are gaining new sponsors.
David Copperfield! I remember watching his specials on TV when I was little.
Don't forget this is next to an MMA gym, a pawn shop, and some abandoned spaces.
Good project for Zionsville - A group who has owned the property for many years has waited and worked patiently to bring highest and best use development to a major corridor, and mix that in with the great downtown you have. Win Win. All the Best to Pittman Partners and Zionsville.