Property Management

Chicago firm closes on $120M acquisition of Precedent park

July 10, 2014
Scott Olson
LaSalle Investment Management now owns the second-largest office complex in Indianapolis. It hit the market after a bitter legal dispute between its former owner and locally based HDG Mansur.
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Carmel developer sinks $66M into four senior communities

July 8, 2014
Scott Olson
Leo Brown Group opened two facilities in Indianapolis and Avon in June, and has started construction on two similar projects in Ohio and Kentucky.
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Ambrose snags vacancy-plagued Meridian Street property

July 5, 2014
Scott Olson
Ambrose Property Group Inc. is doubling down on the struggling downtown office market by purchasing its second property within six months.
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Regional Operations Center back in business at Eastgate

June 27, 2014
Kathleen McLaughlin
Indianapolis Public Safety Director Troy Riggs is scheduled to lead a media tour of the reopened Regional Operations Center on Friday afternoon.
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CBRE awarded management of Chase Tower, PNC Center

June 24, 2014
The real estate brokerage won the business following a shakeup at Commonwealth REIT, which owns the building. An investor campaign led to the ouster of its board in March.
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Flex-office operator adds 58 suites in Mass Ave area

June 24, 2014
Scott Olson
Regus Group plc, which has other locations in the Indianapolis area, has taken more than 10,000 square feet downtown to open its latest flex-office center, where business owners can rent space by the day, week or month.
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Council to consider citywide landlord registry

June 2, 2014
Kathleen McLaughlin
Indianapolis landlords would have to register with the city by Jan. 1 or face a $500 fine under a proposal that will be introduced to the City-County Council on Monday night.
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Anderson's Paramount Theatre seeks donations

June 1, 2014
Associated Press
The landmark Paramount was saved from demolition 25 years ago, but the man who saved it left $800,000 in mortgage debt when he died last month.
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Ownership switch eyed for Anderson's Wigwam gym

May 22, 2014
Associated Press
Officials are working on the details of transferring ownership of Anderson's iconic Wigwam gymnasium to the city as part of the effort to save it.
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Council advances smoke-detector requirement

April 24, 2014
Kathleen McLaughlin
Indianapolis homeowners and landlords would have to buy smoke detectors with non-removable, non-replaceable batteries under a proposal that’s advancing through the City-County Council with bipartisan support.
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City cites apartments for hundreds of violations

April 24, 2014
 IBJ Staff
Five local apartment complexes and one owner of multiple rental properties were accused of unreasonably consuming city, public, and law enforcement resources.
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Trailer parks lure ex-traders eyeing double-wide returns

April 10, 2014
Bloomberg News
Former hedge-fund executives who left Wall Street are finding new ways to milk profits from old trailer parks, including one in Indianapolis.
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City pitches case for jail on former GM plant site

March 19, 2014
Kathleen McLaughlin
Indianapolis Director of Enterprise Development David Rosenberg met with west-side residents Tuesday evening to explain the city's preference for putting a new criminal-justice complex on the former GM stamping plant property.
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Indiana mall's 'hoodie' signs offend some patrons

March 2, 2014
 Associated Press and IBJ Staff
The signs at the entrances of the Mounds Mall in Anderson state that, "For the safety & well-being of everyone, please lower your hoodie."
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Indiana plans $75M push to demolish abandoned homes

February 3, 2014
Associated Press
Lt. Gov. Sue Ellspermann announced the initiative Monday at the Statehouse. She said knocking down blighted and abandoned homes will help maintain property values and cut down on crime.
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Two of three Pyramids buildings to open following main break

January 10, 2014
Kathleen McLaughlin, Scott Olson
Water issues have caused numerous problems for businesses around the city in the wake of this week's winter storm.
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Meridian corridor office complex sells for close to $43 million

December 9, 2013
Mason King
The buyer, Equus Capital Partners, has made a habit of purchasing large-scale, Class A office properties on the north side of the city.
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Summit awarded leasing of troubled BMO Plaza

November 30, 2013
The tall task of signing tenants for the troubled BMO Plaza, which sits nearly half vacant, has been handed to Summit Realty Group.
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Developer seeks tax break on $16.2M apartment project

October 14, 2013
 IBJ Staff
Indianapolis-based Herman & Kittle Properties Inc. would save $452,000 in property taxes on the development, slated for 22.5 acres on the southwest side.
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Whitsett changes name; Milhaus launches divisionRestricted Content

September 7, 2013
The Whitsett Group LLC has changed its name to TWG Development LLC, and Milhaus has created a division to manage properties it develops.
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Chemical cleanup planned at old factory site

August 16, 2013
Associated Press
The trust created to revitalize and market former General Motors properties has set aside about $7 million to clean up a contaminated site in Kokomo where a factory stood from 1915 to 1993.
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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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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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Wigwam on borrowed time, needs 'white knight'

July 16, 2013
Associated Press
Anderson officials hope some kind of use can be found for the historic high school gym that was closed in 2011 to save money.
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AT&T building's new owner targets first-floor retail

June 11, 2013
Scott Olson
Geis Properties, a division of Streetsboro, Ohio-based Geis Cos., purchased the 558,000-square-foot building for $16.5 million late last month from AT&T, which is reducing its downtown presence.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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