Office Complexes

California firm snaps up downtown office towers

April 10, 2013
Scott Olson
Hertz Investment Group has closed on its purchase of the 650,000 square-foot, two-tower Capital Center and its 525-space underground parking garage.
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Developer to move HQ to Carmel, create 25 jobs

April 8, 2013
Mason King
Fast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
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Local REITs charge ahead of pack in bull market

March 27, 2013
Scott Olson
Indiana real estate investment trusts are hitting new highs while outpacing the bull market and their peers in the usually hardy and suddenly hot sector.
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Summit’s headquarters earns double LEED certificationRestricted Content

March 23, 2013
Summit earned the environmental accolades by including a variety of green-friendly features, including carpeting made from recycling materials, paints with low or no volatile organic compounds, and HVAC and LED lighting systems with energy-efficient controls.
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Geico service center to create up to 1,200 jobs in Carmel

March 18, 2013
Mason King
The insurer will invest millions to lease, renovate and equip a 109,000-square-foot customer service center at 101 W. 103rd St. It plans to begin hiring immediately, and bring up to 1,200 new jobs by 2016.
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Baldwin move a win for Lauth, a setback for downtown

March 5, 2013
Cory Schouten
The departure of trucking and auto fleet insurer Baldwin & Lyons Inc. from downtown's Landmark Center to The Congressional in Carmel is a blow for the central business district and a bonanza for Lauth Property Group.
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REI, Chicago partner picked to build office building at IUPUI

February 19, 2013
Tom Harton
The five-story, $22.9 million building would be constructed on university-owned land at the northeast corner of New York Street and University Boulevard.
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CIB cuts price on Ober Building after inspections

February 11, 2013
Cory Schouten
The Capital Improvement Board of Marion County has agreed to slash its sale price on downtown's Ober Building by $700,000 after inspections showed problems including a leaky roof and damaged HVAC system.
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Former Venture employee turns on Bales during testimony

January 31, 2013
Cory Schouten
An FBI investigation into Venture Real Estate Services and principals John Bales and Bill Spencer had already begun when Matthew Dyer signed on as the company's controller in December 2009. Bales told him the company had done nothing illegal, Dyer testified Wednesday.
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Duke Realty sells six-building local office complex

January 9, 2013
Cory Schouten
Two Illinois companies have acquired a six-building, 446,000-square-foot Indianapolis office portfolio from locally based Duke Realty Corp. Industry sources say the buildings sold for more than $20 million.
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East-side biz incubator's new owner is old owner

December 5, 2012
Scott Olson
The Indianapolis Enterprise Center on the near-east side has been acquired by a local investor group led by the former owner of the troubled business incubator.
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Two Indianapolis office buildings in foreclosure

November 5, 2012
Scott Olson
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
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Big downtown office tenants shopping for space

October 16, 2012
Tom Harton
Expiring leases have prompted at least five major users of downtown office space to assess whether to renew or relocate.
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Receiver appointed to manage troubled Century Building

October 1, 2012
Scott Olson
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building's owner claims it is owed $10.5 million.
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Bell Techlogix landlord buys tech firm's new headquarters

August 28, 2012
Tom Harton
Philadelphia-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.
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North-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.
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Software firm Interactive Intelligence needs more spaceRestricted Content

August 25, 2012
Chris O'Malley
The 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.
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Local developer buys 50 acres in Intech Park

August 17, 2012
Scott Olson
Ace 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.
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Five in the running to manage City-County Building

August 8, 2012
Kathleen McLaughlin
Indianapolis Mayor Greg Ballard’s office is reviewing proposals from five commercial property managers that want a crack at running the City-County Building for the next 30 years.
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Revamped Pan Am Plaza on track for October debut

July 31, 2012
Cory Schouten
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
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Suburban office market gaining ground on downtown

July 24, 2012
Tom Harton
Figures from Cassidy Turley showed the suburban market growing by 247,000 square feet while downtown contracted by 68,000 square feet in the first half of the year.
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Chase Tower's $201M sale price sets recordRestricted Content

July 14, 2012
Cory Schouten
A publicly traded real estate investment trust has agreed to pay $201 million for the tallest building in Indiana, a price that could give a boost to the local investment market.
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Buckingham recruiting tenants for CityWay office buildingRestricted Content

June 16, 2012
Structure to be built steps away from Rolls-Royce, Lilly and newly built apartments and retail space.
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Lauth embarks on turnaround of The Congressional in Carmel

June 12, 2012
Tom Harton
The 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.
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Spec office building near Keystone to be first since 2008Restricted Content

June 9, 2012
Cory Schouten
A 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.
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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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