Commercial Real Estate

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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Kite sells three retail properties for $35.2 million

April 9, 2014
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were "non-core assets."
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Anderson businessman pays $7.9M for prime farmland

April 9, 2014
Associated Press
More than 800 acres of prime farmland in Delaware and Madison counties sold during open bidding on Tuesday for $7.9 million.
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Approval for $22M sports complex sought in Greenwood

April 8, 2014
 Associated Press and IBJ Staff
The project by Sarasota-based GoodSports Enterprises would include a 124-bed hotel and an attached 85,000-square-foot fieldhouse, built on the land once targeted by Cabela's.
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Revamped hotel key to Muncie revitalization efforts

April 8, 2014
Associated Press
The 91-year-old Roberts Hotel building has undergone a $17 million renovation that created the 83-unit Lofts at Roberts development. The project was crucial to the city's ability to attract a new downtown hotel.
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Purchase of Capitol Clutch building continues area’s resurgence

April 8, 2014
Scott Olson
CrossFit NapTown bought the building at 922 N. Capitol Ave. and plans to expand its strength and fitness program in an area of downtown that's enjoying a rebirth.
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CarDon trying to adjust nursing homes to hospitals, insurers, patientsRestricted Content

April 5, 2014
J.K. Wall
Family-run company is building nursing homes it thinks will be more attractive to residents and staff.
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Software firm renovating warehouse south of Broad Ripple

April 1, 2014
Scott Olson
TCC Software Solutions is spending $1.8 million to rehab the vacant building at 1022 E. 52nd St. and hopes to move in by the end of July.
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Big tenant nearly completes tower's sudden comeback

March 31, 2014
Scott Olson
On the heels of signing Angie's List Inc. in downtown's Landmark Center, new owner Ambrose Property Group has inked a lease for the Christian Church-Disciples of Christ, helping to boost occupancy above 90 percent.
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Contractor spending $1.6M to move north of downtownRestricted Content

March 29, 2014
Construction manager and contractor Messer Construction Co. has purchased two adjoining vacant buildings on North Meridian Street south of Fall Creek Parkway and plans to move there from Shadeland Avenue.
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Buckingham rethinking plans for prime Zionsville site

March 29, 2014
Andrea Muirragui Davis
Buckingham Cos. says it is still weighing options for a key property it controls in downtown Zionsville, but two nearby landowners are trying to sell their parcels after talks with the developer broke down.
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CEO of Simon spinoff to run company from D.C. perch

March 29, 2014
Greg Andrews
Simon Property’s decision to name the new business Washington Prime had fueled speculation the company would end up based in the D.C. area. However, that apparently is not the case.
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Shadeland Station shopping center bought for $9.5M

March 28, 2014
New York-based Time Equities Inc. acquired the northeast-side property that is anchored by a Marsh supermarket and 85-percent occupied.
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Angie's List to take big chunk of Landmark Center

March 27, 2014
Chris O'Malley
The move into nearly 100,000 square feet of office space is intended to consolidate Angie's off-campus workers downtown. It's a boon to struggling Landmark Center, which has been hemorrhaging tenants.
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'Architecturally significant' Cummins HQ likely won't scrape downtown skyline

March 26, 2014
Scott Olson
The engine maker's planned global distribution headquarters downtown will seem modest compared to a 28-story apartment complex slated for across Market Street, but the firm has a strong history of promoting breath-taking architecture.
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Simon says court should dismiss CEO pay case

March 25, 2014
Bloomberg News
Simon Property Group told a Delaware judge on Tuesday that an investor lawsuit over David Simon's huge pay package should be thrown out now that the company has rewritten the compensation plan.
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Apartment owner jumps into office biz with south-side rehab

March 25, 2014
Scott Olson
Ardizzone Enterprises Inc. in Beech Grove is preparing to open a two-building, 63-suite office complex on U.S. 31 south of Interstate 465. The company has invested $4.2 million in the project.
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Simon plucks in-house execs for spinoff firm

March 24, 2014
 IBJ Staff
Simon Property Group Inc. is reaching into its own stable of executives to stock the C-suite of its publicly traded spinoff for retail strip centers and smaller enclosed malls.
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Broadbent in mortgage dispute involving retail center

March 24, 2014
 IBJ Staff
The owner of Castleton Place, a shopping center in one of the city’s busiest retail areas, is the target of a $5 million foreclosure lawsuit by a lender that seeks to have the property placed in receivership.
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Fresh idea: Specialty grocers finally eyeing south sideRestricted Content

March 22, 2014
Scott Olson
The south side is beginning to receive at least some attention from grocery players, including specialty ones that are much more prevalent to the north.
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As lease expiration nears, Indians continue years of investment in Victory FieldRestricted Content

March 22, 2014
Anthony Schoettle
For almost 18 years, the Indianapolis Indians have poured tens of millions of dollars into Victory Field while the city has spent hardly a dime.
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City to consider $7.7M bond issue to assist Broad Ripple project

March 18, 2014
Scott Olson
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
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Home-remodeling firm giving new life to vacant Carmel center

March 18, 2014
Scott Olson
The vacant, 14,500-square-foot property in the heart of the city has been purchased by a local home-remodeling company, which plans to occupy half the building and lease the rest.
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  1. I could be wrong, but I don't think Butler views the new dorm as mere replacements for Schwitzer and or Ross.

  2. An increase of only 5% is awesome compared to what most consumers face or used to face before passage of the ACA. Imagine if the Medicaid program had been expanded to the 400k Hoosiers that would be eligible, the savings would have been substantial to the state and other policy holders. The GOP predictions of plan death spirals, astronomical premium hikes and shortages of care are all bunk. Hopefully voters are paying attention. The Affordable Care Act (a.k.a Obamacare), where fully implemented, has dramatically reduced the number of uninsured and helped contained the growth in healthcare costs.

  3. So much for competition lowering costs.

  4. As I understand the proposal, Keystone would take on the debt, not the city/CRC. So the $104K would not be used to service the $3.8M bond. Keystone would do that with its share.

  5. Adam C, if anything in Carmel is "packed in like sardines", you'll have to show me where you shop for groceries. Based on 2014 population estimates, Carmel has around 85,000 people spread across about 48 square miles, which puts its density at well below 1800 persons/sq mi, which is well below Indianapolis (already a very low-density city). Noblesville is minimally less dense than Carmel as well. The initiatives over the last few years have taken what was previously a provincial crossroads with no real identity beyond lack of poverty (and the predictably above-average school system) and turned it into a place with a discernible look, feel, and a center. Seriously, if you think Carmel is crowded, couldn't you opt to live in the remaining 95% of Indiana that still has an ultra-low density development pattern? Moreover, if you see Carmel as "over-saturated" have you ever been to Chicago--or just about any city outside of Indiana?

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