Commercial Real Estate

Simon Property Group reports improved quarterly results

July 30, 2010
 IBJ Staff
The Indianapolis-based real estate giant experienced higher occupancy and sales at its shopping malls compared to a year ago.
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Lauth moving HQ to North Meridian office building

July 29, 2010
 IBJ Staff
Lauth Group Inc. will relocate its headquarters to a North Meridian Street office building as part of a bankruptcy court settlement, the company announced Thursday afternoon.
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Duke Realty's loss widens despite higher revenue

July 29, 2010
Scott Olson
Indianapolis-based real estate investment trust reports bigger quarterly loss, even though revenue, occupancy and tenant-retention rates rise.
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Developer making final push for embattled Uptown project

July 28, 2010
Cory Schouten
Developer Leif Hinterberger has spent five years and most of his savings trying to build a $19M mixed-use project at 49th Street and College Avenue. The project could be in trouble if he doesn't get city support.
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Movie-rental stores are next retail backfill opportunity

July 27, 2010
Tom Harton
Vacant movie-rental stores are beginning to flood the retail real estate market here and elsewhere as the nation’s second-largest chain liquidates and industry goliath Blockbuster Video fights for its life.
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Lauth headquarters offered for lease

July 27, 2010
Cory Schouten
Financially troubled developer Lauth Group Inc. is looking for new office space after the company's largest investor took control of the building it now calls home.
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Holiday Inn to hit auction block with $1M opening bid

July 26, 2010
Cory Schouten
A Holiday Inn hotel along Interstate 69 just north of 96th Street in Fishers is scheduled to hit the auction block next month with a suggested opening bid of $1 million.
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Lawsuit targets Simon's leasing tactics

July 24, 2010
Cory Schouten
One of Indiana’s largest privately held developers is suing Simon Property Group Inc., alleging the nation’s largest mall owner abused its “market power” to bully two national retailers into backing out of leases at a lifestyle mall near Mishawaka.
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Ripple Inn, Sinking Ship among new restaurants planned

July 24, 2010
 IBJ Staff
Among the four eateries on the way, two are local ventures and two are chains.
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Federal government asking questions about lease deals

July 22, 2010
Cory Schouten
The federal government is asking questions about how the Indiana Family and Social Services Administration handles office leasing after an IBJ investigation raised questions about potential conflicts of interest.
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Charter school moving to former Children's Guardian Home

July 20, 2010
Scott Olson
City leaders will officially announce Wednesday morning that Irvington Preparatory School will occupy the children's home, which closed in June of last year. The school has signed a 15-year lease with the city.
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Sparks fly at Simon estate hearing

July 15, 2010
Cory Schouten
Details of years of squabbling between family members of the shopping mall magnate Mel Simon have begun to emerge in a court battle over the late billionaire's estate.
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Simon competitor General Growth files reorganization plan

July 13, 2010
Associated Press
General Growth expects to come out of bankruptcy court with 180 properties, making it the second-largest shopping mall owner behind Indianapolis-based rival Simon Property Group Inc.
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CSO Architects plans new headquarters in former Bally's gym

July 10, 2010
 IBJ Staff
The 24,000-square-foot former fitness facility at 8831 Keystone Crossing is vacant and falling into disrepair.
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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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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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