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Commercial Real Estate
Rivoli Theatre finally cleared for comeback
July 3, 2012
Tom HartonA legal battle that had threatened the east-side landmark has been settled, and a $300,000 grant has been secured to begin
stabilizing it.
MoreRACE: Reinventing commercial strips has economic upside
June 30, 2012
Bruce Race / Special to IBJSavvy cities understand strip commercial corridors are economically and environmentally unsustainable.
MoreLEADING QUESTIONS: Big Car director helps drive growth
June 27, 2012
Mason King
The
Big Car arts collective is shifting into a higher gear, with a budget this year of $250,000, a new westside events hub, and
a paid staff that no longer fits into a sedan. Executive Director Jim Walker provides a front-seat view.
Anderson's former GM plants getting second look
June 26, 2012
Associated PressAnderson officials said they are excited that companies have been showing interest in some of the industrial or commercial
properties left by General Motors that need or are undergoing environmental cleanups.
MoreLawrence Township finds buyers for surplus buildings
June 26, 2012
Tom HartonThe northeast-side school district has sold one building, has three offers for another and is seeking tenants for 100,000
square feet in a third building.
MoreMainstreet Property affiliate stages $110M IPO
June 20, 2012
IBJ StaffMainstreet owns 18 percent of HealthLease Properties Real Estate Investment Trust, which sold 11 million shares of stock at
$10 each. The stock began trading Wednesday morning on the Toronto Stock Exchange under the ticker HLP.UN.
MoreWhitsett's Lockerbie project will be market rate
June 19, 2012
Tom HartonWhitsett was counting on selling state-issued affordable housing tax credits to finance the $27 million project, but it wasn’t
among the projects awarded credits.
MoreCause, origin of apartment building fire undetermined
June 16, 2012
IBJ Staff and Associated PressThe fire destroyed part of 16 Park, a $34 million affordable housing development that's intended to help spur a revival
of the 16th Street corridor.
MoreMayor mulls City-County Building management deal
June 16, 2012
Kathleen McLaughlinMayor Greg Ballard is giving the private sector its first shot at managing the City-County Building since the downtown structure
opened 50 years ago. The city and county lease it from the Indianapolis-Marion County Building Authority, but Ballard's office
has posted a request for information from real estate firms interested in a 30-year operating agreement.
MoreBuckingham recruiting tenants for CityWay office building
June 16, 2012
Structure to be built steps away from Rolls-Royce, Lilly and newly built apartments and retail space.
MoreLauth embarks on turnaround of The Congressional in Carmel
June 12, 2012
Tom HartonThe local developer moved its offices into the building and plans more than $2 million in upgrades to reposition a property
that fell on hard times at the dawn of the national real estate crisis.
MoreSimon Property's revolving loan signals overseas deals
June 11, 2012
Bloomberg NewsSimon Property Group Inc., the world’s largest real estate investment trust, has increased its firepower for potential
global expansion with a $2 billion revolving line of credit in six currencies.
MoreSpec office building near Keystone to be first since 2008
June 9, 2012
Cory SchoutenA local developer plans to break ground this month on a three-story office building near Keystone at the Crossing that would
be the market’s first speculative office development in four years.
MoreKeystone revamps Broad Ripple garage after zoning defeat
June 9, 2012
Cory SchoutenThe developer of a $15 million parking garage and retail project in Broad Ripple has overhauled its plans to comply with flood-plain
rules and expects to start construction this month.
MoreMainSource Bank snags prime former Borders space
June 6, 2012
Cory SchoutenMainSource Bank plans to open its first Indianapolis branch in part of the former home of Borders at the southeast corner
of Meridian and Washington streets downtown.
MoreInterchange project changes retail prospects on west side
June 5, 2012
Tom HartonLand at the Waterfront Office Park that sat vacant for decades is now ripe for retail development thanks to the reconfiguration
of a west-side interstate interchange.
MoreDeveloper ups retail ambitions for 86th-and-Keystone site
June 2, 2012
Cory SchoutenA Wisconsin developer has beefed up plans for the southwest corner of East 86th Street and Keystone Avenue across from The
Fashion Mall at Keystone.
MoreSimon Property reaches $2 billion credit arrangement
June 1, 2012
Associated PressIndianapolis-based Simon Property Group Inc., the country's largest shopping mall operator, has a new $2 billion unsecured
revolving line of credit.
MoreMainstreet signs operator for new health care properties
May 30, 2012
Kathleen McLaughlinA Cicero-based developer has signed a national senior-living company to operate four new properties it plans for Indiana.
MoreFishers building owner seeks bankruptcy reorganization
May 30, 2012
Lantern Partners LLC owns the Freedom Mortgage Building once occupied by the failed Irwin Mortgage Corp. Lantern's largest
creditor is owed nearly $11.4 million.
MoreBuckingham reviving Gramercy project with smaller plans
May 29, 2012
Kathleen McLaughlinBuckingham Cos. has revived plans to redevelop the massive Mohawk Hills apartment complex in Carmel, but the latest version
of its Gramercy project takes a huge step back from the original dense, urban-revival-style plan the developer proposed six
years ago.
MoreGreenwood eyes more office parks for I-65 corridor
May 29, 2012
Associated PressGreenwood Mayor Mark Myers wants to see more offices, corporate headquarters and medical facilities along Interstate 65. He's
been meeting with business owners and developers in the area to discuss ways they can team up to pursue that goal.
MoreProminent downtown buildings offered for sale
May 29, 2012
Tom HartonGreater availability of debt financing has spurred renewed interest in real estate deal-making. Chase Tower and Rolls-Royce's
downtown complex are for sale, while Capital Center is under contract.
MoreDeveloper Kite to remake key corner in Carmel
May 26, 2012
Cory SchoutenKite Realty Group Trust is planning a Rivers Edge-like overhaul of two shopping centers it owns at 116th Street and Rangeline
Road in Carmel. The Indianapolis-based real estate firm already has landed new tenants, including a natural and organic grocery
store and a handful of restaurants.
MoreFirst stage of $85M downtown project up for approval
May 22, 2012
Scott OlsonThe city is set to hear a request on Thursday by a local developer to build a five-story parking garage at the corner of New
York and Illinois streets downtown. The garage is part of a development that would be anchored by a Marsh store.
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First, let me say that I love the idea of communities being self-sufficient and people in the community not needing cars, living, working and shopping all in their neighborhood. To sum it up; I love good urban planning and hate urban sprawl. However, there are two reasons that I am against this development. First, this building doesn't fit. Density can occur in Ripple by building up top the street and better use of land. The scale of this project should be downtown. Secondly, I would be willing to bet that if a whole foods in Ripple is built, the Nora store would be closed. Here's my reasoning. The Nora Whole Foods expansion plans have been put on hold. I'm guessing they are waiting to see what happens with the Ripple proposal. Communities next to each other should work together to end sprawl and not work against each other and take other neighbors assets. Develop something both communities can be proud of and will attract more development and density. There's my soap box for the day.
My apologies, Lou - it was the Indy Star that printed cost for entertaining "celebrities" during Indy 500. Sorry for confusing the always timely IBJ with Indy's Gannett reprint news source.
That's fine if you want a grocery store that has festivals and live music. I guess with the prices they charge, they can afford to host such activities. As for me, I choose to spend my money more wisely and if I want to go to a festival or a concert, I will pay for that separately - not through my grocery bill.
TIF is not just to attract development but to attract a higher use for that development. Carmel wisely is using TIF for numerous public parking garages. Asphalt seas of parking pay little taxes and bring even less value to a commercial area. Also density is what is going to save Indy and Broad Ripple. The days of trying to compete with burbs are long gone.
The Prestige was an awesome movie.