Commercial Real Estate

M&I Plaza revamping entry, lands King David and Main Street Deli as tenantsRestricted Content

July 2, 2011
 IBJ Staff
The main entrance is getting a $1 million makeover as the 28-story building prepares to welcome two new restaurant tenants.
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Local developer ready to start $18M project

July 1, 2011
Associated Press
Indianapolis-based Buckingham Cos. is expected to start construction this summer on an $18 million, 146-unit apartment building in downtown Columbus.
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Quail Run Apartments in Zionsville changes hands

June 29, 2011
Richmond, Va.-based McCann Realty Partners LLC bought the 166-unit complex with a $9.25 million loan. The sale marks the second time Quail Run has changed ownership in the past two years.
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Housing agency breaking ground on $30M Lugar Tower project

June 29, 2011
The project includes renovations to the 15-story apartment building in downtown Indianapolis, as well as the construction of two mixed-income buildings containing a total of 74 units at its base.
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Tanger buys outlet center from Simon Property

June 28, 2011
Associated Press
Tanger Factory Outlet Centers Inc. said Tuesday it bought an Ohio outlet shopping center from Indianapolis-based Simon Property Group Inc. for $134 million.
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Owner of several properties south of Mass Ave starts to divest

June 28, 2011
Tom Harton
The pending sale of two historic buildings and a vacant lot just south of Massachusetts Avenue is the first of what could be several deals in the area as one of its largest property owners begins to divest its holdings.
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Chambers quietly built Buckingham into real estate colossusRestricted Content

June 25, 2011
Cory Schouten
The North of South mixed-use project in downtown Indianapolis is just the latest development for Brad Chambers, who started out in the landscaping business.
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MARR: Farewell to a long list of great colleagues and mentorsRestricted Content

June 25, 2011
Danny Marr / Special to IBJ
Six people were key mentors and associates during real estate career in Indianapolis.
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$100M 'Bridges' project in Carmel wins approval

June 21, 2011
Cory Schouten
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK'd Monday night by the Carmel City Council after numerous concessions.
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Tentative settlement reached in lawsuit over historic church

June 21, 2011
Tom Harton
A provisional settlement in a federal lawsuit filed last September against the city by St. John United Church of Christ gives parties in the case six months to find a buyer for the nearly 100-year-old church.
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Developer puts Cosmopolitan complex on block

June 20, 2011
Cory Schouten
The Cosmopolitan on the Canal, a 218-unit upscale apartment complex in downtown Indianapolis that cost more than $33 million to build, has been put on the market by Flaherty & Collins Properties.
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Bids opened for Keystone Towers demolitionRestricted Content

June 18, 2011
 IBJ Staff
Quotes came in way below city's $2 million budget.
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Report paints brighter picture for retail

June 14, 2011
Tom Harton
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
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Effort to save minority car dealer lands Bill Mays in ditchRestricted Content

June 11, 2011
Greg Andrews
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
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Arizona project bankrupts local developer BodnerRestricted Content

June 11, 2011
Cory Schouten
Bruce Bodner, a quiet but prolific local developer who in the late 1990s bought and revitalized two of downtown’s most recognizable buildings, has filed for bankruptcy after making a doomed bet in Arizona.
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City to roll out plan for 16th Street tech corridor

June 10, 2011
Francesca Jarosz
The city of Indianapolis plans to announce a major initiative to turn a stretch of 16th Street northwest of downtown into a hub for biotechnology and other high-tech companies.
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Renaissance Bay heads for sheriff's sale

June 7, 2011
Cory Schouten
A $150 million project that slammed head-first into the recession is slated for a sheriff's sale later this month.
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Real estate deals picking up around Fashion MallRestricted Content

June 4, 2011
Cory Schouten
Owners of the Sheraton Indianapolis are converting one of its towers into luxury apartments, and developers are vying to replace the vacant Woodfield Centre.
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Multiple tenants likely needed to plug Nordstrom holeRestricted Content

June 4, 2011
Greg Andrews
Nordstrom occupies a staggering 210,000 square feet spread across three floors—60 percent more space than the Seattle-based chain occupies at the Fashion Mall at Keystone and likely more than any single retailer would be willing to lease.
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Bull-themed Cadillac Ranch takes over Music MillRestricted Content

June 4, 2011
 IBJ Staff
Nightclub Cadillac Ranch plans to open a location in the former Music Mill restaurant and concert venue on 82nd Street.
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WOJTOWICZ: Relief available for firms with falling real estate values

June 3, 2011
Jean Wojtowicz
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
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Shrunken Lauth emerges from reorganization

May 31, 2011
J.K. Wall
Lauth Investment Properties, which holds the remains of the real estate empire of Lauth Group, has emerged from Chapter 11 bankruptcy, with about $25 million and a portfolio of properties valued at $35 million.
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Nordstrom closing Circle Centre store

May 26, 2011
Cory Schouten
Nordstrom plans to close its store at Circle Centre mall, dealing a substantial setback for downtown. The Seattle-based chain was scheduled to announce the closure to employees at a mandatory staff meeting Thursday morning, a person familiar with the plans told IBJ.
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City Market set to oust 19-year tenant Enzo Pizza

May 25, 2011
Scott Olson
Directors of the historic building have notified the pizza restaurant that it needs to have its equipment removed by the end of the day on Friday after the two sides could not agree on a new lease.
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Children's Museum holds key to Winona redevelopment

May 24, 2011
Kathleen McLaughlin
The Children’s Museum of Indianapolis is playing the role of lead developer for the abandoned Winona Hospital site.
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