Commercial Real Estate

Broad Ripple brokers propose office project on College Avenue

February 18, 2014
Scott Olson
Scott Lindenberg and Thomas Willey want to replace two rental homes they own just north of Kessler Boulevard with a 5,700-square-foot, two-story office building.
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IU official: Bloomington campus parking can raise $43M profit

February 16, 2014
Associated Press
Chief Financial Officer MaryFrances McCourt didn't say how parking rates would be adjusted to create that projected boost and where the extra money would be directed.
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Zionsville sticks with big-box ban despite growth push

February 15, 2014
Andrea Muirragui Davis
Even as retail development continues to proliferate just outside Zionsville’s borders, town officials say they remain committed to an 8-year-old zoning ordinance banning big-box stores.
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Artist Noel to sell Sanctuary in Zionsville, relocate to New York City

February 13, 2014
Lou Harry
Nancy Noel is putting the massive gallery and event space on the market for $1.85 million. She'll keep her residence in the area, but plans to open a gallery in the Big Apple.
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Proposed criminal justice complex draws five bidders

February 12, 2014
Kathleen McLaughlin
In the meantime, city officials are arranging to meet with lawyers, judges and residents who are concerned about moving jails and courts from downtown's core.
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Prominent criminal lawyer: Airport site for complex 'cannot work'

February 12, 2014
Indiana Lawyer Staff, Dave Stafford
A spokesman for Indianapolis Mayor Greg Ballard said the airport site hasn’t officially been selected, although it did score highest among sites the city evaluated.
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Local developer Keystone buys north-side office park

February 11, 2014
Scott Olson
An affiliate of Keystone Realty Group has bought Waterplace Office Park on North Meridian Street and plans to make a major investment in the property in hopes of improving occupancy.
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Kite paying $1.2B for rival real estate developer

February 10, 2014
 IBJ Staff
Kite Realty Group Trust will remain in Indianapolis after the purchase, which will balloon its holdings to 131 properties covering 20 million square feet of shopping center space in 26 states.
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$80M project on tap for Keystone at the CrossingRestricted Content

February 8, 2014
Scott Olson
A local developer plans to build a hotel, apartments, offices and retail space on the last two vacant parcels in Keystone at the Crossing.
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Mall giant Simon beating back perceptions of Internet threatRestricted Content

February 8, 2014
-Greg Andrews
Brick-and-mortar retailers experienced a rough holiday season, and the doldrums continued through January—fueling hand-wringing among investors and other observers over whether the Internet has permanently diminished the American shopping mall.
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Capital Center honored as outstanding buildingRestricted Content

February 8, 2014
Capital Center, a downtown twin-office-tower complex, has been honored with The Outstanding Building of the Year award for central Indiana by the Building Owners and Managers Association.
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Architecture firm closing, renovated HQ on block

February 7, 2014
Scott Olson
A2SO4 Architecture LLC has begun to wind down operations as a bank forecloses on a couple of construction loans for its new headquarters with a total balance of more than $1 million.
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City committee again delays vote on MSA tower’s financing

February 4, 2014
Scott Olson
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins' proposed $81 million high-rise project on the former Market Square Arena site.
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Longtime Simon Property CFO stepping down

February 3, 2014
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world's largest mall developer.
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Simon purchases Long Island land from rival Taubman

February 2, 2014
Bloomberg News
Simon also purchased the company’s 50-percent stake in Arizona Mills Taubman received $230 million in Simon Property shares and $60 million in cash for the two transactions.
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Leadership change afoot at Summit RealtyRestricted Content

February 1, 2014

Bill Ehret, one of the firm's co-founders,  relinquished his title as co-managing partner to Brian Zurawski, who joins Matt Langfeldt in leading the firm.

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Simon posts strong quarter as mall occupancy strengthens

January 31, 2014
 IBJ Staff and Bloomberg News
Occupancy in Simon's malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
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Duke Realty reports strong quarterly, annual results

January 29, 2014
The Indianapolis-based real estate developer said it earned a profit in both the fourth quarter and entire year after reporting losses in 2012.
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New owner for 14 West building targeting another restaurant

January 28, 2014
Scott Olson
A recently retired CEO bought the historic building at 14 W. Maryland St. After renovations, he hopes to attract a national chain to the space.
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Westfield center brings nearly $3.6MRestricted Content

January 25, 2014
Marcus & Millichap listed the property at 701 E. Main St., which brought nearly $3.6 million, or 95 percent of the asking price.
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Design of new downtown fire station to get first review

January 21, 2014
Scott Olson
Construction of the new fire station on East 10th Street would help clear the way for a $43 million apartment and retail project on Massachusetts Avenue where the Indianapolis Fire Department's headquarters now stands.
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Foes of $25M Broad Ripple project go to court

January 20, 2014
Scott Olson
The local group wants a judge to overturn the city's decision to grant zoning variances for the apartment-and-retail project. In the meantime, developer Browning Investments is moving forward with its plans.
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Carmel upstart fights nursing home moratorium

January 18, 2014
Kathleen McLaughlin
Nursing home companies went on a building spree in Indiana, and now most of them want the Legislature’s help reining in high operating costs brought by over-capacity.
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Developer donates 50 acres near airport for preservation

January 17, 2014
Associated Press
Holladay Properties says it's donating the land valued at about $4.3 million to the Central Indiana Land Trust.
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Cassidy Turley offers upbeat outlook on local real estate

January 16, 2014
Scott Olson
The city's largest real estate brokerage predicts that 2014 will mark the first year the economy feels like it's actually recovering, as all sectors of the commercial real estate market continue to improve.
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  5. I thought this company would go bankrupt in 2013/2014. I predicted that four years ago. I was wrong. It will take another couple of years, but they will get there.

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