Real Estate

Duke Realty reports massive third-quarter loss

October 29, 2009
Cory Schouten
Big write-downs on raw land and projects under development led to a wide third-quarter loss for Duke Realty Corp.
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Center Township seeks redevelopment bids for former YMCA

October 28, 2009
Cory Schouten
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down the building and redeveloping the prime 2-acre site.
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With airport hotel stalled, Hendricks County makes its move

October 27, 2009
Cory Schouten
Hendricks County's moves to entice a developer to build a conference hotel in Plainfield could further crimp plans for a hotel attached to the new Indianapolis International Airport terminal.
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Lilly to move 1,000 from Faris campus

October 26, 2009
J.K. Wall
As it shrinks its work force, Indianapolis-based pharmaceutical firm Eli Lilly and Co. will move more than 1,000 employees to its corporate center by mid-2010.
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Hendricks County offers land for hotel development

October 26, 2009
 IBJ Staff
The Hendricks County Convention and Visitors Bureau said Monday that it is asking for proposals to develop a full-service convention hotel on up to 18 acres in Plainfield at the intersection of Interstate 70 and Highway 267.
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Opportunists hunt deals in commercial real estate

October 24, 2009
Cory Schouten
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial property.
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Landmarks Foundation president is living with history

October 24, 2009
Katie Maurer
As president of the Historic Landmarks Foundation of Indiana, Marsh Davis is surrounded by history every time he goes to work. It also greets him when he comes home. Davis and his family live in a 100-year-old Prairie-style, Meridian-Kessler Neighborhood home that they have filled with Mission furniture, family heirlooms and quirky artifacts.
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Fewer home-building permits signal weakness ahead

October 20, 2009
Associated Press
Applications for home-building permits, a gauge of future construction, fell in September by the largest amount in five months.
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Second developer facing foreclosure on Fishers property

October 20, 2009
Scott Olson
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical to the project's development has been scheduled for liquidation by a lender.
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Virginia homebuilder enters market

October 17, 2009
 IBJ Staff
Home-building powerhouse Ryan Homes is marketing lots in 10 subdivisions it has taken over from the defunct local builder CP Morgan Communities.
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First-time buyer tax credit isn't moving pricier homesRestricted Content

October 17, 2009
Cory Schouten
The incentive has not generated a hoped-for boost in sales of homes at higher price-points. About 30 percent of the sales eligible for the tax credit are foreclosures, meaning the seller likely won’t buy another home.
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Duke Realty to unload local land holdings at auctionRestricted Content

October 17, 2009
Cory Schouten
The locally based company plans to raise millions of dollars by selling nine undeveloped tracts in Indianapolis, Fishers, Plainfield and Lebanon.
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Bloomington mayor to roll out chain-store ordinance for downtown

October 17, 2009
Kathleen McLaughlin
Bloomington Mayor Mark Kruzan believes this beloved college town loses a bit of its identity every time a national chain sets up shop.
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Area building permits fall for 23rd straight month

October 16, 2009
The number of building permits issued in the nine-county Indianapolis area fell 20 percent in September from the same time last year, marking 23 consecutive months of declines.
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State seeks at least $6.5M for 19-acre site

October 15, 2009
 IBJ Staff
The Indiana Finance Authority said Thursday it plans to auction off a vacant 19-acre development parcel between the White River and Fall Creek near downtown Indianapolis.
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Fishers water park developer hopeful despite setback

October 15, 2009
Scott Olson
The developer of a proposed hotel and water park in Fishers remains optimistic the project will get finished, despite the latest setback delaying the start of construction by at least two years.
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City strengthens building-permit process

October 14, 2009
Scott Olson
The pre-permit review could add nearly three weeks to the current permitting process
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O'Malia's closing northside market after 33 years

October 13, 2009
Cory Schouten
The O'Malia's Food Market near 56th Street and Emerson Avenue will close for good this weekend after a 33-year run.
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Shopping center vacancies continue to climb

October 12, 2009
Scott Olson
Vacancies at U.S. shopping malls and retail strip centers have climbed to steep levels, a trend that Indianapolis-based commercial real estate companies Simon Property Group Inc. and Kite Realty Group Trust haven't been able to dodge.
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Grocery, housing projects could rejuvenate stretch of 16th Street

October 10, 2009
Cory Schouten
A troubled low-income housing project has a new owner with plans to redevelop the complex to better connect with the Herron Morton Place neighborhood. Next door, Kroger has revived efforts to acquire land and plan a new supermarket to replace a cramped, old-format location.
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Industrial real estate holding up during downturnRestricted Content

October 10, 2009
Industrial real estate in Indianapolis hasn’t escaped a bumpy ride caused by the recession, but it has managed to withstand turbulence better than the office and retail sectors.
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Proposed Fishers medical park faces uncertain demandRestricted Content

October 10, 2009
Scott Olson
The business park would encompass about 900 acres on the town’s northeast side and require rezoning of much of the land, from residential and agriculture to commercial.
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Firms line up to find new uses for old airport terminal, other properties

October 10, 2009
Chris O'Malley
The cash-strapped Indianapolis Airport Authority suddenly can’t look soon enough at developing some of its vast real estate holdings, including the city’s former passenger terminal. This month, it plans to conduct final contract negotiations with a firm that would study reuse of the old terminal, adjacent land and other airport holdings.
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Controversial downtown project to get tax abatement

October 7, 2009
Scott Olson
The Indianapolis Metropolitan Development Commission approved a 10-year tax abatement Wednesday afternoon for a controversial public-private plan to redevelop a vacant downtown office building.
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Cabela's puts Greenwood property up for sale

October 7, 2009
Cabela's is selling the land on which it had planned to build a store in Greenwood.
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