Commercial Real Estate

North-side office buildings sell for $25 million

January 9, 2014
Scott Olson
Cincinnati-based Neyer Properties has made its first foray into the Indianapolis market by purchasing two buildings near Keystone at the Crossing. A $2 million renovation is in the works.
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Local attorney, developer Page files bankruptcy

January 8, 2014
Scott Olson
Paul J. Page was one of four principals of troubled Indianapolis-based condo firm Page Development, which spearheaded the Villagio at Page Pointe project at the south edge of downtown.
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Greenwood firm buys building near Lucas Oil Stadium

January 7, 2014
Scott Olson
The Alderson Commercial Group of Greenwood bought the building at 425 W. South St. late last year and plans to move into it in April. It last housed the Super Bowl Host Committee.
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Circle Centre nears deals for Burger Palace, Yard House, LA Fitness

January 3, 2014
Scott Olson
Three prominent restaurant chains, including one developed by Bobby Flay, and a health club franchise are eying the vacant space formerly occupied by Nordstrom in Circle Centre.
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Simon amends plan for CEO's controversial $154M bonus

January 3, 2014
Mason King
Simon Property Group has tied CEO David Simon's $154 million retention bonus to the financial performance of the company, but plaintiffs in a related legal action are not satisfied.
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Century-old Mass Ave landmark changes hands

December 31, 2013
Scott Olson
The Marott Center was built in 1906 as one of the first multi-level department stores in Indiana and is listed on the National Register of Historic Places.
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Whole Foods-anchored project causes stir in Broad Ripple

December 28, 2013
Scott Olson
A local developer’s plan to build a $25 million mixed-use project in Broad Ripple anchored by a Whole Foods grocery met fierce resistance from neighborhood residents opposed to its size.
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Owners of Regions Tower putting building on the market

December 17, 2013
Scott Olson
Office brokers say the 662,000-square-foot-building, downtown's third largest, could fetch more than $60 million, or about $100 a square foot.
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Group plans $2.8B mall buy from firm with heavy Simon ownership

December 16, 2013
Bloomberg News
Carrefour SA joined a group of institutional investors to buy 127 European shopping malls in a $2.75 billion deal with Klepierre SA, which is 29-percent owned by Simon Property Group.
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Commercial blitz may follow Westfield's housing boom

December 14, 2013
Andrea Muirragui Davis
Poised for a development boom in those heady days before the real estate market collapsed, Westfield appears back on track for growth. Residential activity never stopped, but builders are picking up the pace in response to increasing demand. If history holds true, a commercial construction blitz will come next.
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Simon plans for spinoff get warm reception from Wall Street

December 13, 2013
Scott Olson
After recently stalling on the stock market, shares of Simon Property Group perked up in trading Friday after the massive local firm announced plans to spin off nearly 100 retail centers into a new firm. Analysts approved of the move.
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Indy-based Simon spinoff will include 13 Indiana centers

December 13, 2013
Scott Olson
The locally based retail giant confirmed Friday morning that its new spinoff will be headquartered in Indianapolis. Several of Simon's properties in the area will be among the new portfolio, including Clay Terrace in Carmel.
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Simon to spin off smaller properties into new public company

December 13, 2013
Greg Andrews
The as-yet-unnamed new company will have a separate management team. The company initially will own 54 strip centers and 44 malls.
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Activity at AmeriPlex gaining steam

December 10, 2013
Scott Olson
The west-side industrial park, one of the city's largest, is experiencing robust construction activity that includes more than just distribution centers.
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Meridian corridor office complex sells for close to $43 million

December 9, 2013
Mason King
The buyer, Equus Capital Partners, has made a habit of purchasing large-scale, Class A office properties on the north side of the city.
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Barron's says Simon stock among best for 2014

December 9, 2013
 IBJ Staff
The owner of hundreds of retail properties landed on the Barron’s list of top stock picks for 2014, with the financial publication citing an improved outlook and an analyst upgrade.
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Final piece of city land-swap deal almost done

December 6, 2013
Scott Olson
Indianapolis Fire Department Credit Union officials are set to sign off on a deal with the city to build a facility downtown near College Avenue. That would clear the way for a $43 million project on the credit union's current Mass Ave site.
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Indy firm proposes redevelopment of ISU towers

December 5, 2013
Associated Press
Indiana State University is putting on hold its plans to demolish two 15-story former residence halls on the Terre Haute campus after an Indianapolis-based developer proposed taking them over.
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StreetLinks plans to move 200 employees downtown

December 3, 2013
 IBJ Staff
StreetLinks, which sells real estate appraisal management services and software, plans to move from the far south side to the ground floor of the $30 million Artistry project at 451 E. Market St.
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Lauth acquires new apartment property in Greenfield

December 3, 2013
Scott Olson
The local developer's purchase of the complex is part of a shift within the company to complement its traditional development business with acquired properties.
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Fishers weighs incentives for office building

December 2, 2013
Andrea Muirragui Davis
Construction firm Meyer Najem Corp. is planning a $5.5 million office building in downtown Fishers to house its growing operations and other high-potential businesses. A proposed deal calls for the town to contribute 1.7 acres of land and $1.4 million.
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Summit awarded leasing of troubled BMO Plaza

November 30, 2013
The tall task of signing tenants for the troubled BMO Plaza, which sits nearly half vacant, has been handed to Summit Realty Group.
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Design firm moving to new downtown space

November 30, 2013
Rowland Design Inc. was set to move from its longtime Lockerbie Square location to 702 N. Capitol Ave., adjacent to the Cultural Trail, on Nov. 30.
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Carmel complex's new owner plans major upgrade

November 27, 2013
Andrea Muirragui Davis
Zeller Realty Group has acquired the 300,000-square-foot Meridian Plaza right on Carmel's front door step, and is gearing up for a $4 million revamp.
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Gershman co-founder goes solo

November 23, 2013
Scott Olson
A heavy hitter among commercial real estate developers has left the firm he helped found more than 20 years ago, to start his own company, and has taken most of its employees with him.
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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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