Commercial Real Estate

Chicago firm building spec warehouse in Plainfield

October 10, 2013
HSA Commercial Inc. plans to break ground later this month on the 220,000-square-foot building in the Gateway Business Park near Columbia Road and Ronald Reagan Parkway.
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Former Simon executive faces fraud charge

October 10, 2013
Kathleen McLaughlin
Federal prosecutors in Pittsburgh have charged Mark Palombaro of Carmel with a single count of mail fraud in connection with a kickback scheme.
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Deborah Simon giving $100M to Pennsylvania prep school

October 10, 2013
 IBJ Staff, Associated Press
The contribution from the daughter of Simon Property Group co-founder Mel Simon is one of the largest gifts ever made to an independent school in the United States.
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Developer readies second Virginia Avenue residential project

October 8, 2013
Scott Olson
Deylen Realty's latest development along bustling Virginia Avenue calls for 68 apartments and 9,900 square feet of retail space between the existing Mozzo apartments and Villagio condos.
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Precedent office park hits blockRestricted Content

October 5, 2013
Scott Olson
The owners of the 19-building Precedent Office Park are putting the massive property up for sale, eight years after buying it for $143 million at the height of the real estate boom.
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State opens downtown parking lots to development

October 4, 2013
Kathleen McLaughlin
Proposals due Nov. 15 could cover one or all of three state-owned parking facilities, which contain 6,096 spaces and generate more than $1 million a year from special events.
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Councilor takes aim at Browning's Broad Ripple apartment project

October 1, 2013
Kathleen McLaughlin
At-large City-County Council member Zach Adamson says that even if the apartments-and-grocery project gets an OK from city development officials on Wednesday, he might force an additional hearing.
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Woodfield office buildings attracting strong interest

October 1, 2013
Scott Olson
The two Class A office buildings totaling 348,000 square feet are close to being sold after falling into foreclosure during the implosion of defunct local developer Premier Properties USA Inc.
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Cummins keeping HQ in Columbus, but considering Indy project

September 26, 2013
Associated Press
Cummins spokesman Jon Mills said the company wants to consolidate its two offices in downtown Indianapolis where about 100 employees work in areas such as communications, information technology and investor relations.
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Simon debuts bonds in Europe as discount to U.S. widens

September 25, 2013
Bloomberg News
Simon Property Group Inc. is selling 750 million euros ($1 billion) of seven-year securities as the yield discount to U.S. dollar notes approaches the widest in more than 4-1/2 years.
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Canterbury to change name, close for 9-month renovation

September 24, 2013
Mason King
The historic downtown hotel's new owner says the $9.5 million revamp and affiliation with an international brand are needed to compete with new high-end hotels in the Indy area.
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Skywalk adds architectural element to senior-housing project

September 24, 2013
Scott Olson
Two four-story structures, at the southwest and northwest corners of 30th and Clifton streets, will be built as part of a $10.7 million project that will include 57 units linked by an elevated walkway.
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Simon competitor hoping to raise $750 million in IPO

September 24, 2013
Bloomberg News
An offering of at least $750 million by Brixmor Property Group Inc. would be the largest IPO by a retail real estate investment trust since Simon Property Group raised $840 million in 1993.
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Landmark Indiana gym faces talk of possible closure

September 23, 2013
Associated Press
Muncie school board members are considering closing the 6,000-seat Muncie Fieldhouse to save money. The gymnasium turns 85 in December.
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IBJ Real Estate Power Breakfast transcriptRestricted Content

September 21, 2013
Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13. The following is an unedited transcript of the discussion.
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Former Thomson site may be ripe for developmentRestricted Content

September 21, 2013
Scott Olson
The vacant 49-acre Sherman Park business complex might finally be redeveloped now that the owner has exited bankruptcy and demolition has started on its main building.
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Fourth-quarter 2012 commercial real estate statistics for IndianapolisRestricted Content

September 21, 2013
Commercial Real Estate Focus sections include statistical snapshots of Indianapolis' multi-tenant office vacancy rates and the local industrial market.
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New vision for Eastgate includes solar farm

September 21, 2013
Kathleen McLaughlin
A former east-side shopping mall will soon be covered in solar panels, possibly the most transformative of property owner Alex Carroll’s various redevelopment efforts.
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Colliers expands multifamily-brokerage teamRestricted Content

September 21, 2013
 IBJ Staff
The additions joining Michael Drew, who had been the office’s loan investment and multifamily broker, are team leader Michael H. Wernke, in addition to Cory Detamore, Evan Bryant and Maria Stein.
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City eyes Cummins as anchor for key downtown site

September 21, 2013
Scott Olson
City officials are quietly trying to orchestrate what would be a major coup: Landing Cummins as an office anchor for a second phase of redevelopment on the former home of Market Square Arena.
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West Clay commercial building set for sheriff’s sale

September 18, 2013
Scott Olson
The 24,400-square-foot building was owned by CFS Inc., a Carmel company accused by the Indiana Secretary of State's securities division of misappropriating the funds of elderly clients who bought ownership interests in rental properties.
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Former Thomson site may finally be ripe for redevelopment

September 17, 2013
Scott Olson
The vacant Sherman Park business complex on the east side has been taken from a private developer in a bankruptcy reorganization, and several parcels of the 49-acre property are listed in the county's annual tax sale.
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Mall owners go from first to last in REIT market

September 13, 2013
Bloomberg News
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
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Two troubled downtown office buildings turn tenants' heads

September 10, 2013
Scott Olson
The Landmark Center at 1099 N. Meridian St. and the historic Century Building at 36 S. Pennsylvania St. (pictured) are both in receivership but attracting interest from potential buyers and tenants.
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Zionsville believes in power of small loansRestricted Content

September 7, 2013
Andrea Muirragui Davis
The town has started supporting tiny business loans in its tax-increment financing district.
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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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