Commercial Real Estate

Simon partner looks to buy out co-owners in expansion drive

May 19, 2014
Bloomberg News
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
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Veteran real estate exec takes helm of DTZ office

May 6, 2014
Scott Olson
David Reed, who once led CBRE's local operations, has joined Chicago-based DTZ as a managing director, a post that will put him in charge of growing the company's Indianapolis presence.
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Circle Centre reports higher occupancy, lower revenue

May 5, 2014
Scott Olson
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
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Flaherty becoming mixed-use master

May 3, 2014
Scott Olson
Developer's Flaherty & Collins is gaining a reputation developing trendy projects, the latest of which is a 28-story retail and residential tower on the site of the former Market Square Arena.
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Precedent Office Park owner cashes out at steep loss

May 3, 2014
Scott Olson
The owners of the 19-building Precedent Office Park are poised to unload the massive property, but at a price much cheaper than what they gave nine years ago during the height of the real estate boom.
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First-quarter commercial real estate statistics for IndianapolisRestricted Content

May 3, 2014
Check out the latest office and industrial statistics.
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Design group honoring Ratio Architects founderRestricted Content

May 3, 2014
Local architect Bill Browne, president and founder of Ratio Architects, will be honored May 22 by the Interior Design Coalition of Indiana as its 2014 Legend IN Design recipient.
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Kite Realty reports profit on soaring revenue

May 1, 2014
Revenue jumped to $42.7 million as more of the company's retail developments became operational. Its acquisition of nine properties in November also contributed to the gain.
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Duke Realty reports first-quarter growth in FFO

April 30, 2014
The Indianapolis-based real estate developer saw higher revenue and improved funds from operations, a common measure of performance for real estate investment trusts, in the first quarter.
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Two downtown office towers poised to get new asset manager

April 29, 2014
Scott Olson
Sam Zell's Equity Group Investments would step in at Chase Tower and PNC Center, replacing a firm accused of conflicts of interest and underperformance.
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Central Indiana home to 2 of state's 10-most-endangered places

April 26, 2014
 IBJ Staff
The Mills House in Greenwood appeared on the list for the first time, while the Anderson Athletic Park Pool made a return appearance. Indiana Landmarks unveiled the list at its Rescue Party Saturday night.
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Council sues city over public safety lease deal

April 23, 2014
Scott Olson
The City-County Council wants to force officials to produce documents relating to the controversial lease of the public safety operations center on the east side. It was vacated in September due to safety and health code violations.
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Broad Ripple landmark has new owner

April 22, 2014
Scott Olson
Monon Housing Partners LLC bought what's known as Mustard Hall near the southeast corner of Broad Ripple and Guilford avenues and is seeking tenants for the building.
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Craft beer chain to open $2.5M Broad Ripple location

April 22, 2014
 IBJ Staff
Called HopCat, the bar will anchor the long-vacant corner space in the Broad Ripple parking garage on the southwest corner of College and Broad Ripple avenues.
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Chatham Tap crew buying ex-church for brewery, restaurant

April 19, 2014
Scott Olson
The owners of two popular pubs on Massachusetts Avenue are delving into the trendy micro-brewery business with plans for a brewery and restaurant in a historic former church a few blocks away.
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Mainstreet aims to help finance nursing home through crowdfundingRestricted Content

April 19, 2014
J.K. Wall
Mainstreet Property Group LLC plans to launch a new round of private placement fundraising on April 21 using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana.
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Brokers fear criminal justice complex could harm downtown

April 18, 2014
Kathleen McLaughlin
City officials and real estate professionals debated on Thursday the pain from moving jails, courts and other criminal justice functions to a proposed complex outside of downtown.
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Banks whittle down Indy-area branches

April 18, 2014
Chris O'Malley
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
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Report: State political leader had millions on the line

April 17, 2014
Associated Press analysis
Documents show House Speaker Pro Tem Eric Turner earned nearly $8 million selling nursing homes in the last two years and stands to earn between $1 million and $2 million on projects now being developed, thanks in part to legislation he helped block this year.
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Indianapolis office market shows rise in occupancy

April 17, 2014
 IBJ Staff
The improvement was sparked by growing occupancy in the suburban office market, where the vacancy rate fell from 20.3 percent to 18.2 percent.
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City christens Market East cultural district downtown

April 16, 2014
 IBJ Staff
The area—roughly 14 square blocks—anticipates a passel of new development on and around the former site of Market Square Arena.
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Chicago firm enters local industrial market with two big deals

April 15, 2014
Scott Olson
CrossLake Partners spent more than $40 million to buy 21 buildings spread between the northwest-side industrial parks of Corporate Center North and Park 100.
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Dora Brothers affiliate loses downtown hotel in bankruptcy

April 14, 2014
Scott Olson
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.
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IEDC urging government bets on spec-buildingRestricted Content

April 12, 2014
Kathleen McLaughlin
The Indiana Economic Development Corp. is encouraging local governments to help finance speculative industrial buildings, which could land new businesses but could put at risk hundreds of thousands in taxpayer dollars.
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UPDATE: Simon Property wins dismissal of CEO pay suit

April 10, 2014
 Bloomberg News and IBJ Staff
Simon Property Group won't have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
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  1. By the way, the right to work law is intended to prevent forced union membership, not as a way to keep workers in bondage as you make it sound, Italiano. If union leadership would spend all of their funding on the workers, who they are supposed to be representing, instead of trying to buy political favor and living lavish lifestyles as a result of the forced membership, this law would never had been necessary.

  2. Unions once served a noble purpose before greed and apathy took over. Now most unions are just as bad or even worse than the ills they sought to correct. I don't believe I have seen a positive comment posted by you. If you don't like the way things are done here, why do you live here? It would seem a more liberal environment like New York or California would suit you better?

  3. just to clear it up... Straight No Chaser is an a capella group that formed at IU. They've toured nationally typically doing a capella arangements of everything from Old Songbook Standards to current hits on the radio.

  4. This surprises you? Mayor Marine pulled the same crap whenhe levered the assets of the water co up by half a billion $$$ then he created his GRAFTER PROGRAM called REBUILDINDY. That program did not do anything for the Ratepayors Water Infrastructure Assets except encumber them and FORCE invitable higher water and sewer rates on Ratepayors to cover debt coverage on the dough he stole FROM THE PUBLIC TRUST. The guy is morally bankrupt to the average taxpayer and Ratepayor.

  5. There is no developer on the planet that isn't aware of what their subcontractors are doing (or not doing). They hire construction superintendents. They have architects and engineers on site to observe construction progress. If your subcontractor wasn't doing their job, you fire them and find someone who will. If people wonder why more condos aren't being built, developers like Kosene & Kosene are the reason. I am glad the residents were on the winning end after a long battle.

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