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Commercial Real Estate
Airport may carve up ex-terminal property
September 8, 2012
Chris O'MalleyIndianapolis International Airport managers say they haven’t given up hope that a single, mega-sized tenant could create
an economic development boon at the site abandoned nearly four years ago when the midfield terminal opened. But the latest
listing of redevelopment sites shows the former terminal complex being marketed in pieces.
MoreReport: Simon foe General Growth hiring investment bank
September 6, 2012
IBJ Staff and Bloomberg NewsThe board of General Growth Properties—a longtime acquisition target for locally based Simon Property Group Inc.—may
reconsider a sale of the company two years after it spurned a Simon offer.
MoreMDC approves CIB's sale of building to Steak n Shake
September 5, 2012
IBJ StaffThe Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion
County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
MoreManagement contracts help DTM Real Estate push into mainstream
September 4, 2012
Tom HartonDTM Real Estate Services LLC landed management and leasing for Fortune Park buildings 5, 6 and 7 in August, about a year after
getting the management contract for a 360,000-square-foot portfolio in Park 100.
MoreHHGregg's new push: Selling treadmills alongside TVs
September 1, 2012
Greg AndrewsThe appliance and electronics retailer is quietly launching a test of furniture and fitness equipment, with rollouts scheduled
for 31 of its more than 200 stores.
MoreEx-concrete plant to be razed for Greenwood nature area
August 31, 2012
Associated PressA former concrete plant in Greenwood faces the wrecking ball to make room for a wider road. The city plans to raze the former
Prairie Materials concrete plant so it can turn Worthsville Road into a major boulevard that can handle traffic from a planned
Interstate 65 exit.
MoreMajor Westfield development projects making progress
August 29, 2012
Scott OlsonSeveral big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at
U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.
MoreBell Techlogix landlord buys tech firm's new headquarters
August 28, 2012
Tom HartonPhiladelphia-based BPG Properties Ltd., which owns the building at 8888 Keystone Crossing that Bell is vacating, has purchased
Bell’s new headquarters at 4400 W. 96th St.
MoreInvestor urges General Growth to pursue being acquired by Simon
August 27, 2012
Bloomberg NewsBill Ackman’s Pershing Square Capital Management LP, the second-largest investor in General Growth Properties Inc.,
urged the mall owner to enter negotiations for a takeover by rival Simon Property Group Inc.
MoreNorth-side office building falls into foreclosure
August 27, 2012
A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the
owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.
MorePotential for Simon-General Growth deal appears to dim
August 25, 2012
Bloomberg NewsGeneral Growth Properties' largest shareholder said it won’t pursue a takeover of the company and has no interest
in unloading its stake after investor Bill Ackman urged the mall owner to consider a sale.
MoreSoftware firm Interactive Intelligence needs more space
August 25, 2012
Chris O'MalleyThe call center software maker won’t comment on a report issued earlier this month by Jones Lang LaSalle that said the
company is shopping for more than 225,000 square feet of office space.
MoreRatio Architects pursues design work in China
August 25, 2012
IBJ StaffIndianapolis-based Ratio Architects Inc. has signed an agreement with Zhejiang University Design Institute in Hangzhou, China,
in an attempt to pursue design work in the country.
MoreTech companies converge in Warehouse District
August 25, 2012
Chris O'MalleyRight On Interactive next month plans to move its 30 employees from 5,000 square feet at 136 E. Market St. to about 7,000
square feet on the second floor of Allen Plaza, the luxury condo complex at 1 Virginia Ave.
MoreSimon again considering acquisition of shopping mall rival
August 24, 2012
IBJ Staff and Bloomberg NewsOne of General Growth Properties Inc.'s largest shareholders says Indianapolis-based Simon Property Group has discussed
acquiring the Chicago-based shopping mall competitor.
MoreHistoric Market Street building gets new owner
August 21, 2012
Tom HartonThe Corydon Group bought 125 W. Market St. Aug. 2 and will occupy the 4,200-square-foot top floor of the three-story building
after renovations are finished in early November.
MoreLocal developer buys 50 acres in Intech Park
August 17, 2012
Scott OlsonAce Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible
property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
MoreTroubled Di Rimini apartment building closer to opening
August 15, 2012
Scott OlsonA controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer
to being ready for tenants after city officials granted the project’s new owner a zoning variance.
MoreICVA eyes funds from sale by CIB of downtown's Ober building
August 14, 2012
J.K. WallThe Capital Improvement Board wants to plug a $2 million funding hole that will open up next year for the Indianapolis Convention
& Visitors Association with the expiration of a $5.9 million grant from the owner of the JW Marriott hotel downtown.
MoreIndiana Landmarks still trying to save pre-Civil War home
August 14, 2012
Tom HartonThe Cotton-Ropkey House was built in 1850 and features Greek Revival and Italianate features, including six-over-six windows,
walnut floors and crown moldings.
MoreSuper Bowl bid might spur new downtown hotel
August 11, 2012
Anthony SchoettleDowntown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a
2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
MoreDevelopers taking serious look at former GM site
August 9, 2012
Kathleen McLaughlinAt least six reputable developers, both local and national, have toured the former General Motors plant near downtown Indianapolis
since it closed last year, according to an official trying to market the property. Of those, two are taking a serious look.
MoreParking-garage connectors receive city approval
August 9, 2012
The Metropolitan Development Commission's plat committee has given local developer Flaherty & Collins Properties the go-ahead
to include two upper-level pedestrian connectors in its plan to build a five-story parking garage downtown. The garage is
part of a larger, $85 million development.
MoreCentre Properties retail center hit with $7M foreclosure suit
August 9, 2012
Scott OlsonIndianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place
Shoppes, a retail center in a busy shopping area on the city's northwest side.
MoreSimon Property directors sued over CEO’s pay
August 8, 2012
Bloomberg NewsThe board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included
$120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
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In my opinion the estridge companies are crooks. They filed bankruptcy on their 'track housing' side of the business two weeks before they closed on one of my clients' homes. When my client first interviewed Estridge as a builder 6 months before, they specifically ASKED about the solvency of their business, knowing that some builders were struggling. Estridge truly misrepresented their financial situation at that time. I suppose I am more unhappy with the whole system than I am with the builder because what the heck==you can file bankruptcy on 'track homes' but still keep building and make money off of 'custom built' homes??? How ridiculous! They are all homes. How can a company be allowed to bilk thousands of dollars from their subcontractors but still be allowed to build houses?? they should have been made to pay back all their unpaid contractors before being allowed to profit from building any more houses! This alone makes them and the system crooks in my eyes. I would never build an estridge home and I would not recommend for my clients either. If they were truly 'bankrupt' how could they afford to keep building homes anyway??? The whole system needs fixed.
I live a couple blocks east of the Angie's campus and my house is assessed for ~$160,000. If I could get that amount, let alone $384,000 (a 140% bonus), I'd sell in a minute. Either Angie's stockholders just got fleeced, or Angie's is getting about a 58% discount on their property taxes, if these properties are actually worth what they paid Mr. Oesterle for them. Which do you think is the case?
Perhaps the IMA board is really to blame! They agreed to hire Charles. They can't seemingly find donors among themselves, or bring in new blood that will support the museums operating budget with an expanded museum and money to provide curators with something to do (ie buy art). The headlines of disarray at the museum and mass firings are hurting the reputation of the museum for some time to come. If people on the board had misgivings, perhaps they shpuld have more forcefully opposed efforts that they have seemingly been unable to fund, like expansion and the costs it has created!
See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.