Commercial Real Estate

Pan Am Plaza hotel may sweeten bowl bid

September 7, 2013
Anthony Schoettle
Indianapolis officials hope to include plans for a new downtown luxury hotel in their bid for the 2018 Super Bowl, but they’re not sure all the pieces for a deal—potentially on Pan Am Plaza—can be put together before a bid presentation for 32 NFL owners in May.
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City targets east-side parcel for housing development

September 3, 2013
Scott Olson
The city hopes to seek bids to redevelop land along East Washington Street that is part of the four-acre P.R. Mallory industrial complex. Real estate experts say an affordable housing project might make the most sense.
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Butler’s $4M parking project coming to close

August 27, 2013
Scott Olson
The private university is slated to finish improvements soon to 90 acres of land it owns west of the Central Canal that should help alleviate parking problems and give the public better access to the waterway.
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Mammoth distribution center sold to California firm

August 26, 2013
Mason King
A real estate firm with growing holdings in the Indianapolis area has purchased a 1.1 million-square-foot distribution building in the AmeriPlex at Indianapolis business park.
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$11M Irvington apartment project entering second phase

August 20, 2013
Scott Olson
Irvington Lofts, a 50-unit affordable housing project, is slated to open in the fall, as construction begins on a nearly 6,000-square-foot adjacent medical office that will be occupied by Franciscan St. Francis Health.
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Broad Ripple apartment project gets preliminary approval

August 15, 2013
Scott Olson
The controversial residential-and-retail development along the Central Canal got the nod from a city hearing examiner on Thursday. A zoning change and variances for the project still require additional approval.
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Adjacent Chatham Arch properties could attract redevelopment

August 13, 2013
Scott Olson
The roughly one-acre properties at 625 E. 11th St. and 602 E. 10th St. encompass an entire city block.
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Simon suffers setback in antitrust suitRestricted Content

August 10, 2013
Cory Schouten
A federal lawsuit alleging monopolistic behavior by Simon Property Group Inc. likely will proceed to trial after a federal judge in South Bend denied a motion by the Indianapolis-based mall giant to dismiss the 3-year-old case.
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Trust invites bids on GM stamping plant property

August 8, 2013
Scott Olson
The owner of the 102-acre site has selected 12 companies and asked them to submit redevelopment plans. A deal could be announced by the end of the year.
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HDG Mansur hit with $5.8M court judgment

August 8, 2013
 IBJ Staff
A federal judge in New York has slapped HDG Mansur with a $5.8 million judgment, ruling in favor of a former client that said the Indianapolis real estate firm misappropriated funds.
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Developer poised to build 900,000 square feet of industrial space

August 7, 2013
Scott Olson
The two buildings, one totaling 475,000 square feet and the other 450,000 square feet, are set to be built on 52 acres in Plainfield that Opus has owned since 2008.
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Dispute over Uptown Business Center in SoBro gets messier

August 7, 2013
Scott Olson
The dispute started in October when the lender tried to take possession of the building at the southwest corner of 49th Street and College Avenue. Now the owner has filed Chapter 11 to delay foreclosure proceedings.
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Kite Realty reports loss on loan default

August 2, 2013
Scott Olson
The Indianapolis-based real estate investment trust took a $5.4 million non-cash impairment charge relating to a $29.5 million loan default on a retail development in Georgia.
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Canadian firm buys former Fundex HQ for $3.7M

August 1, 2013
Dalfen American Corp. of Montreal acquired the 110,000-square-foot building in an auction Wednesday following the bankruptcy of the Plainfield-based game maker.
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Centre Properties escapes foreclosure on 12 properties

July 30, 2013
Jeff Newman
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
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Local firms team up to buy North Meridian office building

July 30, 2013
Scott Olson
REI Real Estate Services LLC and Perennial Investments say that together they'll invest about $1 million in hopes of getting the office building at 550 Congressional Blvd. fully leased.
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State Fairgrounds to debut new $10M Youth Arena

July 30, 2013
Associated Press
The 30,000-square-foot Youth Arena will debut as the site of 4-H Horse & Pony classes and events. The fairgrounds' newest building will also host livestock shows, draft horse competitions and other events.
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Developer puts key Zionsville parcel under contract

July 29, 2013
Scott Olson
The vacant piece of land on the southwest corner of Main and Sycamore streets, once home to a Citgo gas station, is viewed as a vital link between the historic village and development to the south.
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Simon Property raises forecast after results top expectations

July 29, 2013
Bloomberg News
Simon Property Group Inc. reported an increase in second-quarter funds from operations, revenue, occupancy and base rents.
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Bank seeks abatement to construct office space along I-69

July 27, 2013
Andrea Muirragui Davis
Economic development leaders in Fishers are asking the Town Council to OK a six-year property tax abatement to help First Internet Bancorp construct as many as two office buildings.
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Developer HDG Mansur battling in court with former clientRestricted Content

July 27, 2013
Scott Olson
A local real estate fund manager sued by a former client is fighting the charges by claiming in a countersuit that it’s owed more than $20 million in fees.
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IPO for giant retail REIT may be biggest since Simon

July 21, 2013
Bloomberg News
The initial public offering of Brixmor Property Group, the second-largest U.S. shopping center landlord, may be the biggest for a retail real estate investment trust since Simon Property Group Inc.’s IPO 20 years ago.
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Will residential boom end commercial bust in West Clay?

July 20, 2013
Andrea Muirragui Davis
Residential construction is booming in The Village of West Clay, the already-sprawling Carmel development designed to mimic small-town life at the turn of the (last) century. But not everything has gone according to Brenwick Development’s ambitious plans. Two commercial nodes remain largely undeveloped, and one property owner’s legal woes led to several high-profile vacancies that have yet to be filled.
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Car parts maker expands in Hancock County

July 19, 2013
Mason King
A 250,000-square-foot distribution center that sat empty since the recession has finally nailed down a tenant—a Canadian firm relocating operations from nearby Knightstown.
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Specialty grocer on wish list for MSA development

July 18, 2013
Scott Olson
Flaherty & Collins, the developer of the 28-story tower, "would love to have a Whole Foods" or similar grocer as a retail tenant. With one Marsh two blocks away and another under construction nearby, the project begs the question whether the area can support three groceries.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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