Property Management

Health care real estate owner takes over management of 29 buildings

April 3, 2012
Tom Harton
Healthcare Trust of America now handles property management and leasing for 29 buildings formerly managed by Hokanson Cos.
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Building rentals help school district make ends meet

March 19, 2012
Associated Press
Franklin is planning to raise $120,000 by renting the performing arts center and middle school auditorium this year — six times what the district made in rental fees four years ago.
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Circle Centre again suing Bella Vita over unpaid rent

January 30, 2012
Scott Olson
Landlord Circle Centre Mall LLC is suing the restaurant over $77,275.24 in unpaid rent, according to court documents. Circle Centre also sued Bella Vita in June 2010 over $96,523.23 in overdue rent.
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Hundreds of houses available as Super Bowl rentals

January 20, 2012
Scott Olson
Indianapolis-area homeowners are looking to cash in by opening up their homes to visitors for daily prices ranging from about $700 to $9,000, but demand may not come until participants in the big game are settled.
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Sears closings shouldn't be big problem for Simon

December 29, 2011
Kathleen McLaughlin
Simon Property Group has more shopping malls with Sears as a tenant than any other landlord, but any closings are likely have a negligible effect on the Indianapolis-based real estate company's overall earnings, an analyst says.
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Ex-Speedway boss plans 4-lot subdivision on north side

December 6, 2011
Scott Olson
Former Indianapolis Motor Speedway CEO Tony George and his wife had tried unsuccessfully to sell their 12-acre wooded estate and now are planning to divide the land into a four-lot subdivision.
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City files nuisance charges against property owner

November 3, 2011
The complaint alleges that David J. Williams' properties have been the subject of more than 400 violations and have generated more than 30 police reports for criminal activity.
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California firm's Park 100 portfolio goes back to lender

October 4, 2011
Tom Harton
California-based Blue Real Estate lost the last big chunk of its Indianapolis portfolio last week when a lender took control of Blue’s 360,000-square-foot, seven-building portfolio in Park 100.
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Indianapolis building owners, managers pressed to protect birdsRestricted Content

September 10, 2011
Chris O'Malley
The Audubon Society has documented hundreds of birds killed downtown in the past two years as birds are attracted to the city lights and then fly into windows.
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New owners aim for big profit after buying IPS school on the cheap

September 6, 2011
Cory Schouten
The buyers of former IPS School 64 stand to make hundreds of thousands of dollars if they manage to flip the property they bought for just $20,000.
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Johnson County still dealing with 2008 flood

September 6, 2011
Associated Press
Johnson County officials have been working to buy about 40 flooded properties in an area a few miles west of Greenwood, so they can be demolished.
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Receiver appointed in $16.8M foreclosure suit

August 29, 2011
Scott Olson
Lender Merrill Lynch Mortgage Trust is foreclosing on several Indianapolis commercial properties, including two retail centers, owned by Greenwood developer Presnell Cos.
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Circle Centre wants Cinnabon out of mall

August 29, 2011
Scott Olson
A lawsuit filed by the downtown Indianapolis mall accuses Cinnaworks LLC, a franchisee of Cinnabon, of failing to pay its $6,751-per-month rent.
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Not-for-profit building affordable housing in Brownsburg

August 2, 2011
 IBJ Staff
Sycamore Services Inc., which serves people with disabilities, has closed on $8 million in financing to build a 72-unit apartment community in Brownsburg.
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Keystone Towers implosion set for late August

August 1, 2011
 IBJ Staff
The long-vacant Keystone Towers apartment complex will be imploded Aug. 28 at 8 a.m., the Department of Metropolitan Development announced Monday afternoon.
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Precedent joins ranks of battered developersRestricted Content

July 30, 2011
Cory Schouten
The Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.
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City ready to take down 1,100 abandoned homes

July 18, 2011
Francesca Jarosz
With the sale of its water and sewer utilities cleared by regulators, the city of Indianapolis is preparing to deploy $15 million to $25 million in funds from the deal into tearing down abandoned houses.
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Local developer ready to start $18M project

July 1, 2011
Associated Press
Indianapolis-based Buckingham Cos. is expected to start construction this summer on an $18 million, 146-unit apartment building in downtown Columbus.
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Quail Run Apartments in Zionsville changes hands

June 29, 2011
Richmond, Va.-based McCann Realty Partners LLC bought the 166-unit complex with a $9.25 million loan. The sale marks the second time Quail Run has changed ownership in the past two years.
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Chambers quietly built Buckingham into real estate colossusRestricted Content

June 25, 2011
Cory Schouten
The North of South mixed-use project in downtown Indianapolis is just the latest development for Brad Chambers, who started out in the landscaping business.
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Veritas Realty owner sells stake to partner

May 24, 2011
Cory Schouten
Veteran developer Danny Marr has sold his stake in Indianapolis-based Veritas Realty to a partner and plans to work as a residential real estate agent in Florida.
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City proceeding with public safety complex at Eastgate

May 18, 2011
Scott Olson
City-County Council grants approval for the city to enter into a 25-year lease with the owner of the former Eastgate mall to take 76,000 square feet for a Regional Operations Center.
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Indianapolis council OKs razing of Keystone Towers

May 16, 2011
Associated Press
The City-County Council in Indianapolis has voted to spend $4 million to demolish the abandoned 15-story Keystone Towers and the long-vacant former Winona Hospital.
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Airport seeks broker to market ex-ATA HQ

May 5, 2011
Chris O'Malley
The Indianapolis Airport Authority plans to hire a broker to market the 16.5-acre campus along Washington Street near Indianapolis International Airport once used by ATA Airlines. It has been vacant for three years.
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East-side apartment complex facing foreclosure

May 5, 2011
One West Bank in California says it is owed nearly $3.3 million, and is seeking to foreclose on Red Mill Apartments near East 38th Street and North Franklin Road.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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