Commercial Real Estate

Rolls-Royce eyeing former Lilly campus downtown

November 15, 2010
If the manufacturer and drugmaker can come to an agreement, Rolls-Royce would lease the space formerly occupied by Eli Lilly and Co. and relocate some of its 2,500 employees to the downtown campus on South Meridian Street. Discussions are expected to last several months.
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Gun club building, parking lot fetch $380,000 at auction

November 11, 2010
The historic, 8,000-square-foot Gatling Gun Club building sold for $250,000 and the 19,000-square-foot parking lot went for $130,000, to two separate bidders.
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Carmel strip mall fire starts in doughnut shop

November 11, 2010
Associated Press
The fire began at a Dunkin' Donuts shop Thursday morning, spread to a winemaking shop and threatened other businesses.
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Feds require Simon to sell outlet centers

November 11, 2010
Bloomberg News
The U.S. Federal Trade Commission said it is requiring Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, to sell outlets in a settlement related to the $2.3M purchase of Prime Outlets Acquisition Co.
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Gatling Gun Club building set for auction

November 10, 2010
Scott Olson
The historic structure at 709 N. Illinois St., along with a nearby parking lot, could be sold Wednesday afternoon. Declining membership and rising costs led the private club to seek a sale of the 160-year-old building.
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Simon rival General Growth exits Chapter 11

November 9, 2010
Associated Press
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
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Redevelopment planned for vacant car dealership

November 9, 2010
Tom Harton
The 2.5-acre property might be retrofitted by late spring for fast-food, retail and possibly medical office users.
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City's Conrad hotel investment starts to pay off for taxpayers

November 6, 2010
Cory Schouten
The city put up $25 million for the hotel, restaurant and condo development at the corner of Washington and Illinois streets, including $3.75 million in exchange for the economic equivalent of an 8-percent stake.
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Part of City Market renovation project put on hold

November 4, 2010
Francesca Jarosz
City planners have downsized their renovation plans because project bids came in too high to meet the $2.7 million budget.
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Kite Realty improves third-quarter results

November 4, 2010
 IBJ Staff
Indianapolis-based Kite Realty Group Trust improved its financial performance in the third quarter, reporting funds from operations of $7.8 million, up from $2.8 million in the same period last year despite a slight dip in revenue.
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Rock Bottom Brewery tries to hang onto downtown lease

November 3, 2010
Kathleen McLaughlin
Downtown landlord John Goodman has rejected Rock Bottom Brewery's attempt to renew its lease for five more years. The restaurant has occupied 14,600 square feet at 10 W. Washington St. since June 1, 1996.
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Anderson makes headway in disposing of former GM sites

November 3, 2010
Kathleen McLaughlin
The city of Anderson is nearing a milestone in its effort to find new uses for numerous former General Motors sites that have been in its possession since 2006.
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Election Board agrees to lease former Marsh store

November 2, 2010
Cory Schouten
The Marion County Election Board has agreed to lease about 41,000 square feet in a former Marsh store along East Washington Street for an election services center.
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Simon's quarterly results slip, but profit, revenue rise

November 1, 2010
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping-mall owner, said third-quarter profit declined from a year ago after the company recorded an expense to buy back debt.
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Downtown apartment developers take divergent paths to financing

October 30, 2010
Cory Schouten
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
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Plans for Kroger-anchored center in west Carmel fall through

October 30, 2010
 IBJ Staff
The grocer might reconsider the Altum Garden's site if economic variables change.
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Duke Realty improves third-quarter performance

October 28, 2010
 IBJ Staff
Duke Realty Corp. had its best leasing quarter in three years and boosted overall occupancy to nearly 90 percent, helping the company post a profit for the fiscal period ended Sept. 30.
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Owner of city apartment complex files Chapter 11

October 26, 2010
Kathleen McLaughlin
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
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Greenfield apartment market heats up with sales, development activity

October 26, 2010
Tom Harton
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
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Farmland sales go flat in suburban Indianapolis

October 23, 2010
Scott Olson
The real estate bust and a drought in transactions make values all but impossible to gauge.
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Indianapolis-area experts see bright spots amid ongoing real estate weaknessRestricted Content

October 23, 2010
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
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Black-lit mini-golf course opens on Circle Centre’s fourth floor

October 23, 2010
 IBJ Staff
Wichita, Kan.-based Opry GlowGolf LLC, which operates 20 similar courses around the country, took 6,500 square feet just up the escalator from the food court.
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3Mass resident sues developer over accessibility

October 19, 2010
Cory Schouten
A resident of the 3Mass condo development who uses an electric wheelchair is suing the developers for failing to provide handicap accessibility to a rooftop terrace.
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Consulate buys East Street space, leaving Union Station

October 19, 2010
Tom Harton
The Mexican Consulate has been a tenant at the city-owned Union Station since it opened an office here in November 2002. The new site will more than quadruple its space.
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Suburban hotels take a beating as downtown recovers

October 16, 2010
Anthony Schoettle
As revenue per room falls, some hotels outside the center city are going on the auction block.
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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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