Commercial Real Estate

Greenwood Shoppes seeks bankruptcy reorganization

April 22, 2011
Scott Olson
The shopping center on U.S. 31 is the third Broadbent-operated strip mall to fall into bankruptcy and its second in Greenwood to claim financial problems.
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Closed northwest-side theater set to reopen

April 21, 2011
Scott Olson
A Chicago native and independent theater owner plans to reopen the old AMC Loews College Park 14 movie complex on April 29, under the new moniker of Movie Buff Theatre.
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Office stats don't tell full story of market's recovery

April 19, 2011
Tom Harton
Cassidy Turley's research director said the pace of leasing activity is the best he’s seen in 18 to 24 months.
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Pop-up retailers emerging in Indianapolis

April 16, 2011
Marc D. Allan
With the retail vacancy rate hovering around 13 percent locally and nationally, temporary retailers are becoming a fact of life in malls, strip malls and downtowns around the country.
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Landlord seeking to evict Jillian's over unpaid rent

April 15, 2011
Scott Olson
The landlord of the downtown building that houses Jillian's, which filed for bankruptcy protection earlier this week, wants the restaurant and entertainment complex out of its building, alleging the tenant owes nearly $700,000.
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Insurance agency revives plans for downtown building

April 12, 2011
Tom Harton
McGowan Insurance Group plans to build a $2.75 million, 19,000-square-foot building at 355 Indiana Avenue.
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Retail REIT profits may slip on store bankruptcies

April 11, 2011
Associated Press
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
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Simon CEO compensation jumps to $24.6 million

April 8, 2011
Bloomberg News
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
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Bank seeks foreclosure on two strip centers

April 8, 2011
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city's northwest side and Lakewood Shops on the northeast side.
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Condo sales lag in hot downtown apartment market

April 5, 2011
Cory Schouten
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
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UIndy to add dorm for upperclassmen

April 5, 2011
 IBJ Staff
With enrollment surging in recent years, the University of Indianapolis finds itself needing new dorm space. The private college will build a $10 million, 200-student residence hall on the south edge of its campus.
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Meridian Street buildings to get facelift

April 2, 2011
 IBJ Staff
A not-for-profit is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into specialized affordable housing.
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City sells North of South bonds, locks in 5.2-percent rate

April 2, 2011
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
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Whitestown interchange lands $8M travel plaza

March 29, 2011
Cory Schouten
A growing distribution hub anchored by Amazon.com and MedcoHealth Solutions along Interstate 65 in Boone County has inspired plans for an $8 million truck stop and travel plaza.
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IU Health cancels $73M project, acquires Gateway PlazaRestricted Content

March 26, 2011
J.K. Wall
Indiana University Health has canceled its plans for a $73 million administrative office building at 16th Street and Capitol Avenue and has instead purchased the Gateway Plaza tower at 10th and Illinois streets.
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Colts-themed restaurant in works in betting parlor space

March 23, 2011
 IBJ Staff
A South Florida restaurateur has plans to open a Indianapolis Colts-themed restaurant in Claypool Court, a retail and hotel center near Circle Centre mall downtown.
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Altum’s staying put at current west Carmel location

March 23, 2011
Scott Olson
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn't found a buyer. Kroger nixed a deal to buy its property last fall.
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Minneapolis firm buys Fishers business park

March 22, 2011
Scott Olson
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
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Rolls-Royce gives downtown office market a bounce

March 22, 2011
Tom Harton
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
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Retail/office building planned for site at Fort BenRestricted Content

March 19, 2011
Tom Harton
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.
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Northeast-side office building falls into foreclosure

March 18, 2011
The 83,653-square-foot office building at 6666 E. 75th St. near Binford Boulevard and Interstate 465, is known as Heritage Park II. It is only 55-percent occupied.
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Another northwest-side apartment complex faces foreclosure

March 16, 2011
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
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Office/retail building planned for Fort Ben

March 15, 2011
Tom Harton
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge as it works toward breaking ground this year on what it expects will be a 45,000-square-foot building geared toward retail and office tenants.
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Virginia not-for-profit suing Duke Realty for $30M

March 9, 2011
Military think tank CNA claims Duke Realty breached its obligations as landlord by selling land in Alexandria to the Department of Defense, which plans to build a bomb-inspection facility on the site.
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Volunteers market growing retail space along East 10th

March 8, 2011
Francesca Jarosz
Six projects with more than 25,000 square feet of space will be completed this year and in 2012 along the 10th Street corridor, which runs from near Rural Street east to Sherman Drive.
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  1. Why should I a home owner pay for this"car sharing" ????

  2. 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.

  3. 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?

  4. 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.

  5. 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.

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