Commercial Real Estate

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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Two of three Pyramids buildings to open following main break

January 10, 2014
Kathleen McLaughlin, Scott Olson
Water issues have caused numerous problems for businesses around the city in the wake of this week's winter storm.
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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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  1. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....

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