Commercial Real Estate

Westfield's proposed Symphony development under review

July 8, 2010
 IBJ Staff and Associated Press
The Westfield planning commission has asked city employees to further review the 1,400-acre mixed-use project that could include thousands of homes, shops, a YMCA and a baseball stadium.
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Appraisers have little to go on in tough deal market

July 6, 2010
Tom Harton
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values aren’t uncommon.
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Developer George Broadbent sued for $9M by widow of co-founder

July 3, 2010
Greg Andrews
Avis Skinner alleges Broadbent isn’t making the payments he committed to when he bought out her husband's real estate interests in 2006.
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Indianapolis office vacancy rates still rising

June 29, 2010
Scott Olson
Vacancy rates in the downtown and Keystone at the Crossing markets climbed in the past six months, according to Meridian Real Estate's latest report, but the market shows signs of stabilizing.
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$69M U.S. Courthouse modernization a boon for local firms

June 29, 2010
Cory Schouten
More than a dozen local companies have begun work on a three-year modernization of the Birch Bayh Federal Building and U.S. Courthouse in the state's largest individual project funded by the federal stimulus.
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Buckingham thinks big with plans for downtown development

June 26, 2010
Cory Schouten
Will the latest ambitious downtown development proposal finally master the formula for transforming a downtown surface parking lot?
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LEADING QUESTIONS: How Staubach fields his team

June 23, 2010
Mason King
Staubach_WatchVideoNFL Hall of Famer turned exec huddles with IBJ about confidence, hard work, and placing personnel.
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Circle Centre vies to keep anchor stores

June 19, 2010
Cory Schouten
Deals for both Nordstrom and Carson Pirie Scott are up for renewal in the coming months.
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Duke Realty buying out joint venture partner for $298M

June 16, 2010
 IBJ Staff
Duke Realty Corp. plans to buy out its partner in a joint venture that owns 106 industrial buildings in the Midwest and Southeast, the Indianapolis-based company announced Wednesday.
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Washington Square area getting first new retail strip in three years

June 15, 2010
Tom Harton
Thompson Thrift, based in Terre Haute and Carmel, has started construction on Washington Square Commons, a 9,000-square-foot retail strip at 10110 E. Washington St., at a major entrance to Washington Square Mall.
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Circle Centre sues restaurant Bella Vita over unpaid rent

June 11, 2010
Peter Schnitzler
Italian restaurant that took over high-profile mall space in January is being sued by the landlord for $96,523.23.
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Proposed development near Lilly campus could include hotel

June 8, 2010
Indianapolis developer Buckingham Cos. is in discussions to build a mixed-use development that could include apartments, shops, office space, and a hotel and conference center.
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Dunkin, Baskin-Robbins eye closed Meridian Street cafe

June 5, 2010
 IBJ Staff
They will take over the former home of Bonjour Cafe & Bakery if the owner wins city approval to add a drive-through.
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Construction supplies firm plans mixed-use HQ downtown

June 2, 2010
Cory Schouten
Affordable Building Supplies LLC, which was displaced by the construction of Lucas Oil Stadium, hopes to move its headquarters closer to downtown in a new mixed-use building on South Meridian Street.
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Zoning board denies plan for club catering to under-21 crowd

June 1, 2010
Cory Schouten
The music has stopped for a proposed under-21 club at Madison Avenue and Southport Road after a city board on Tuesday unanimously denied a controversial rezoning request.
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Road upgrade kicks off improvements in Lafayette Square area

June 1, 2010
Tom Harton
A $20 million improvement of West 38th Street between Guion and High School roads that is set to begin next month is the first in a series of initiatives that stakeholders hope will revive the real estate fortunes of the area anchored by Lafayette Square Mall.
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Rivers Edge lands Nordstrom Rack, The Container Store

May 29, 2010
Cory Schouten
Two sought-after national retail concepts are poised to open their first Indianapolis stores. Kite Realty Group Trust has recruited Nordstrom Rack and The Container Store as likely anchors of a redevelopment of Shops at Rivers Edge along 82nd Street at Dean Road.
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Battered banks don't see light at end of tunnelRestricted Content

May 29, 2010
Greg Andrews
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
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Girl Scouts of Central Indiana moving to new headquarters

May 29, 2010
 IBJ Staff
CEO Deborah Hearn Smith said the move will eventually bring a cost savings, but it has other benefits.
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Retail project in search of tenants after Ace deal falls apart

May 25, 2010
Cory Schouten
A not-for-profit group that's hoping to build a retail project at the northeast corner of 22nd and Delaware streets is looking for tenants after a deal for an Ace Hardware fell apart.
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Lawrence Village inks J.C. Hart deal, seeks retail developer

May 25, 2010
Tom Harton
The Fort Harrison Reuse Authority has approved the sale of a 6.6-acre site to Carmel-based J.C. Hart Co. for development of a 217-unit apartment community.
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Simon plans to rejoin retail leasing event

May 24, 2010
Cory Schouten
Simon Property Group Inc. plans to rejoin the giant leasing mall at the annual ICSC convention in Las Vegas, where 25 percent of the nation's retail lease deals are consummated.
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Upcoming ICSC convention will offer insight into growth plans for retailersRestricted Content

May 22, 2010
Cory Schouten
Retailers are feeling pangs of optimism at an opportune time for the developers and real estate brokers who rely on them for survival: The year’s biggest retail real estate gathering is May 23-25 in Las Vegas.
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Dora Hotels takes over management of DePauw's Walden Inn

May 22, 2010
 IBJ Staff
Dora operates more than 20 hotels, including five in downtown Indianapolis and two adjacent to Indianapolis International Airport.
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Resource lands Colliers affiliation

May 11, 2010
Cory Schouten
Resource Commercial Real Estate, which will remain locally owned and operated, will be known as Colliers International effective immediately, the company said.
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