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Commercial Real Estate
Circle Centre to build entry through empty Nordstrom
November 17, 2012
Cory SchoutenConstruction could begin soon in the former home of Nordstrom at Circle Centre mall, but the project does not signal an end
to the mall’s limbo following the 2011 departure of its marquee anchor.
MoreMarsh Supermarkets names new CEO from ranks of A&P
November 15, 2012
Cory SchoutenThe parent company of Marsh Supermarkets has picked a new CEO to lead the locally based grocery chain.
MoreZionsville, school district make $5.7M land deal with Dow
November 14, 2012
Scott OlsonZionsville Community Schools and the town of Zionsville are teaming up to purchase and develop a prime piece of real estate
owned by Dow Chemical Co.
MoreOne Mass Ave project starts; another one is in limbo
November 13, 2012
Tom HartonInsight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North
streets. But the fate of the second phase is up in the air because its financing had been tied to a project Insight
and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department
headquarters.
MoreSimon spared no expense with Manhattan residence
November 10, 2012
Greg AndrewsThe $25 million purchase ranked as the 12th-largest residential sale in New York City last year, according to the real estate
website Curbed NY.
MoreBattered Broadbent climbs back from brink
November 10, 2012
Cory SchoutenOne of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and
protracted legal battle with two lenders.
MoreFacadeTek eliminating 72 jobs in Whitestown
November 6, 2012
Glass fabricator FacadeTek Inc. has notified state officials that it will eliminate 72 jobs at its Whitestown facility in
January.
MoreTwo Indianapolis office buildings in foreclosure
November 5, 2012
Scott OlsonThe buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company
that operates 12 cemeteries and four funeral homes throughout Indiana.
MoreSettlement talks afoot in Mel Simon estate brawl
November 3, 2012
Greg AndrewsAttorneys for Mel’s daughter Deborah asked a Hamilton County judge to put discovery deadlines on hold and vacate the
July 2013 trial date while the parties negotiate a “memorandum of understanding.”
MoreKite Realty reports higher revenue, bigger loss
November 2, 2012
IBJ StaffKite Realty Group Trust Inc. reported higher revenue and a bigger loss during its fiscal third quarter, a busy period during
which the company raised $60 million from a share offering and bought one Florida shopping center and sold another.
MoreINSIDE DISH: Carmel eatery unafraid to break a few eggs, rules
November 2, 2012
Mason King
Restaurateur Larry Hanes stuck to his guns in creating Eggshell Bistro, bending conventions with
eclectic decor, artisanal coffees, and a simple menu with restrained portions.
Duke loss narrows, quarter meets expectations
November 1, 2012
IBJ StaffIndianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32
million in the same quarter of 2011.
MoreLA Fitness buys site near Washington Square, boosting area
October 30, 2012
Cory SchoutenLA Fitness plans to build a gym on the former home of a Loews movie theater adjacent to Washington Square Mall in the latest
sign of progress for a struggling retail submarket.
MoreFocal point for Mass Ave project: Huge electronic screen
October 25, 2012
Cory SchoutenThe most striking feature of a proposed $43-million development along Mass Ave is a Times Square-style electronic screen that
would wrap around the building's corner and rise more than three stories.
MoreSimon beats expectations, boosts dividend, outlook
October 25, 2012
Bloomberg NewsIndianapolis-based shopping center owner Simon Property Group hiked its quarterly dividend and its forecast for full-year
funds from operations as its tenants benefited from an increase in consumer spending.
MoreCity selects developers for Mass Ave project
October 24, 2012
Cory SchoutenCity officials have picked the apartment specialist J.C. Hart Co., retail developer Paul Kite Co. and architecture firm Schmidt
Associates to redevelop a prime Mass Ave parcel currently occupied by the Indianapolis Fire Department.
MoreFarmland prices going up in much of Indiana
October 19, 2012
Associated PressA September study by Purdue University found farmland prices were as much as 18 percent higher than in 2011, and some appraisers
say they continue to go up.
MoreDeveloper secures financing for $9M Irvington project
October 18, 2012
IBJ StaffDevelopers are one step closer to building a $9 million apartment project to replace a blighted former hotel in Irvington.
MoreKite Realty seeks $52 million in share offering
October 17, 2012
IBJ StaffKite Realty Group Trust Inc. is selling 10.5 million new shares at $5.20 per share in an offering set to raise at least $52
million for the Indianapolis-based retail developer.
MoreBig downtown office tenants shopping for space
October 16, 2012
Tom HartonExpiring leases have prompted at least five major users of downtown office space to assess whether to renew or relocate.
MoreLender forecloses on Uptown Business Center
October 15, 2012
Cory SchoutenA lender has filed to foreclose on the Uptown Business Center, a neighborhood retail building at the southwest corner of 49th
Street and College Avenue that a local developer had hoped to use as a springboard to revitalize the intersection.
MoreINSIDE DISH: New partners boost sales at Pure
October 12, 2012
Mason King
Receipts at the locavore's haven in Fountain Square have surged
since February, when two new partners took over day-to-day management, redefined the space, expanded the menu and turned its
hours of operation upside down.
Milhaus buying site for more downtown apartments
October 9, 2012
Tom HartonThe local developer has agreed to purchase the former Mitchell & Scott industrial complex in the 600 block of College
Avenue and is in the process of pulling together a plan for the site.
MoreWFMS property fetches $625,000 bid in county tax sale
October 8, 2012
Scott OlsonSuburban New Orleans investment firm National Tax Asset Fund LLC placed the bid during the Marion County tax sale that ended
Friday. WFMS parent Cumulus Media Inc. owns the property and owes more than $80,000 in back taxes.
MoreMainSource making most of prime downtown spot
October 6, 2012
Part of former Borders bookstore space is marketing opportunity for Greensburg-based bank. The other half could be turned
into lobby for Barnes & Thornburg.
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First, the Athenaeum is going to have to get past the hurdle with the Lockerbie residents and the agreement that the parcel would be residential. Second, and in my opinion, this prime piece of property should include parking, PLUS, a black box theater(s), some market rate and affordable artist housing and a plan to renovate and reconfigure the second story theater. I would negotiate to add the DeHaan property surface parking lot into the development mix, place a one story surface parking garage on the DeHaan lot on the street level (for the Dehaan tenants use during the daytime) and add a second story to the garage that would become an addition to the current second story theater and then change the direction of the theater by moving the stage across the alley and on top of the DeHaan lot parking. You can add all the stage elements that are currently missing from the Athenaeum stage to make it more attractive for use by Ballet, Opera and traveling productions. Plus, the theater changes would probably help solve some of the soundproofing issues. Alas,it does not seem to be a part of the strategic plan to conduct a study to determine best use of the property. Seems like the current plan is a quick and easy move that ignores the property best use/potential and any strategic property planning for the effect on future generations.
I recall that MSA's pilings are still in the ground and hard to remove. It’s not likely any proposal will include significant underground construction/parking because of this. Start adding 2 floors of retail, 8 floors of parking and 5-10 floors of possible hotel, and/or 10-20 floors of residential, and you are at 30 floors already with possible expansion of all the uses. But then again I could be wrong.
Accoriding to their website there is no deadline to the Do Not Call list. What is this article referring to??
On what planet are they entitled to this largesse from the stockholders? These people make multi-million dollar salaries: Pay for your own personal travel.
It matters because they're already paid enormously fat salaries: Pay for your own personal travel. Being "taxed on it" isn't a valid excuse--so what? They're still being gifted a raft of luxury perks from somebody else's money on top of an enormous, lavish salary.