Commercial Real Estate

Shopping center vacancies continue to climb

October 12, 2009
Scott Olson
Vacancies at U.S. shopping malls and retail strip centers have climbed to steep levels, a trend that Indianapolis-based commercial real estate companies Simon Property Group Inc. and Kite Realty Group Trust haven't been able to dodge.
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Grocery, housing projects could rejuvenate stretch of 16th Street

October 10, 2009
Cory Schouten
A troubled low-income housing project has a new owner with plans to redevelop the complex to better connect with the Herron Morton Place neighborhood. Next door, Kroger has revived efforts to acquire land and plan a new supermarket to replace a cramped, old-format location.
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Proposed Fishers medical park faces uncertain demandRestricted Content

October 10, 2009
Scott Olson
The business park would encompass about 900 acres on the town’s northeast side and require rezoning of much of the land, from residential and agriculture to commercial.
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Firms line up to find new uses for old airport terminal, other properties

October 10, 2009
Chris O'Malley
The cash-strapped Indianapolis Airport Authority suddenly can’t look soon enough at developing some of its vast real estate holdings, including the city’s former passenger terminal. This month, it plans to conduct final contract negotiations with a firm that would study reuse of the old terminal, adjacent land and other airport holdings.
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Controversial downtown project to get tax abatement

October 7, 2009
Scott Olson
The Indianapolis Metropolitan Development Commission approved a 10-year tax abatement Wednesday afternoon for a controversial public-private plan to redevelop a vacant downtown office building.
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Cabela's puts Greenwood property up for sale

October 7, 2009
Cabela's is selling the land on which it had planned to build a store in Greenwood.
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Fishers officials propose huge medical park

October 5, 2009
 IBJ Staff
Fishers development officials anticipate unveiling plans for a huge medical business park near Interstate 69's Exit 10 Wednesday night at the town's regular council meeting.
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Exterior work on bank tower wraps up with Regions sign

October 3, 2009
 IBJ Staff
The Regions Bank name and logo are joining the city’s skyline atop One Indiana Square, also known as Regions Bank Tower.
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Hat World acquires Minnesota sporting goods dealer

September 28, 2009
Indianapolis-based Hat World Inc. said Monday that its Impact Sports division has acquired Great Plains Sports in St. Paul, Minn.
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Historic Landmarks returning to headquarters

September 24, 2009
 IBJ Staff
The Historic Landmarks Foundation of Indiana is set to return to its headquarters in downtown Indianapolis tomorrow, six months after a fire at a neighboring apartment project displaced the not-for-profit.
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Anticipated development near stadium isn't materializing

September 19, 2009
Sam Stall
Not long ago, developers seemed to vie for every square inch of open ground in the vicinity of the just-completed Lucas Oil Stadium. These days, the entire neighborhood has been pushed, if not into a financial deep freeze, then at the very least to the back of the crisper drawer.
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MANN: Commercial real estate is next mortgage crisisRestricted Content

September 19, 2009
Brian Mann
The cresting wave of maturing commercial real estate debt is the second act in our nation's credit crisis.
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'Dewatering' system creates space, keeps new Marriott's basement dryRestricted Content

September 19, 2009
Scott Olson
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
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New owner to rehab two century-old apartment buildings

September 19, 2009
 IBJ Staff
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Clinton, Bird among mourners at Simon funeral

September 18, 2009
Associated Press
Former President Bill Clinton described Melvin Simon as one of the most remarkable people he's ever met as he gave a eulogy today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
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Commission OKs Ameriplex, Rexnord tax abatements

September 16, 2009
Scott Olson
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for a mammoth development known as World Connect at AmeriPlex.
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UPDATE: Simon remembered for vision, courage

September 16, 2009
Cory Schouten
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic cancer.
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Apartments near downtown canal slated for rehab

September 15, 2009
Tom Harton
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Anderson siblings buying city's Mounds Mall

September 15, 2009
 IBJ Staff and Associated Press
Two Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six years.
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Sidewalk inspections help downtown get spiffed up for big eventsRestricted Content

September 5, 2009
Marc D. Allan
They used to say that downtown Indianapolis rolled up the sidewalks at 6 p.m. No one says that anymore. Now they say those sidewalks need to be clean. Sidewalk cleanliness is important on a day-to-day basis for aesthetic reasons, but even more so when Indianapolis wants to put on its best face for major events like the Final Four, the Indianapolis 500 and the Super Bowl.
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Kite Realty Trust CEO unloads $467K in company stock

August 31, 2009
Cory Schouten
The CEO of Kite Realty Group Trust last week sold 130,000 shares, or nearly a half-million-dollars worth, of the Indianapolis-based real estate firm’s common stock.
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Shelbyville struggles to reach tech park goalsRestricted Content

August 29, 2009
Kathleen McLaughlin
Despite recent investment by Major Health Partners, Shelbyville’s technology park is about as far from meeting state standards as it was two years ago.
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Kahn's wine emporium plans store on 86th Street

August 29, 2009
 IBJ Staff
Kahn’s Fine Wine & Spirits plans to open a second location in a former O’Malia Food Market at the northeast corner of 86th Street and Township Line Road.
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Handmade chocolates shop opens location in Chase Tower

August 24, 2009
 IBJ Staff
Best Chocolate in Town is expanding beyond its original store on Massachusetts Ave.
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IT consultant Apparatus buying WFYI building

August 20, 2009
 IBJ Staff
Locally based information technology consultant Apparatus has agreed to buy the former WFYI building at 1401 N. Meridian St. for a new headquarters.
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