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Real estate deals
St. Vincent sports practice to fill vacant Clay Terrace big box
May 21, 2013
Scott OlsonSt. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.
MoreAthenaeum weighs bids for surface lot redevelopment
May 18, 2013
Scott OlsonThree developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to
the historic Athenaeum building.
MoreOesterle sells land to Angie's List, reaping millions
May 18, 2013
Chris O'MalleyAngie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property
for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s
the property, at well above its assessed value.
MoreDowntown Lilly building fetches $90 million
May 16, 2013
Scott OlsonAmerican Realty Capital, a real estate investment firm based in New York City, bought the building on South Meridian Street
occupied by Rolls Royce Corp. Lilly vacated the facility in 2010.
MoreWhitsett goes big with Star project
May 10, 2013
Scott OlsonA local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most
of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
MoreDeveloper shelves plan to buy city land, build Meijer
May 6, 2013
Scott OlsonOpus Development Corp.'s proposal for the project north of downtown included buying and bulldozing dozens of historic homes
in the Flanner House neighborhood.
MoreDevelopers finish first project, shift focus to downtown deal
April 30, 2013
Scott OlsonDrew Loftus and Kyle Robinson are wrapping up their first project, in Broad Ripple, and have bought another building, this
one downtown. A well-known architectural and design firm is slated to be the building's tenant.
MoreOwnership snarl resolved, Illinois Building on block
April 27, 2013
Scott OlsonAn affiliate of locally based HDG Mansur has owned the 10-story building at Illinois and Market streets since the 1980s. It’s
sat empty for 10 years, thanks in large part to separate ownership of the building and the land—an arrangement once
common among downtown buildings.
MoreDowntown's historic Century Building set for sheriff’s sale
April 26, 2013
Scott OlsonThe 112-year-old office building will return to the market in a precarious position, as a major tenant plans to depart.
MoreCalifornia firm snaps up downtown office towers
April 10, 2013
Scott OlsonHertz Investment Group has closed on its purchase of the 650,000 square-foot, two-tower Capital Center and its 525-space underground
parking garage.
MoreDeveloper to move HQ to Carmel, create 25 jobs
April 8, 2013
Mason KingFast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
MoreAs city budget tightens, Center Township trustee has money to burn
April 6, 2013
Kathleen McLaughlinIBJ SPECIAL REPORT: Center Township lowered its bank balance in 2012, to $6.7 million, but the biggest checks Trustee Eugene
Akers wrote weren't for emergency needs like food or shelter, the township’s main mission.
MoreCity to buy key parcel for 16th Street tech corridor
April 6, 2013
Scott OlsonThe city of Indianapolis is poised to pay Citizens Energy Group $6.5 million to buy a key parcel of real estate it’s
targeting as the centerpiece of its ambitious 16 Tech project.
MoreTough times didn't spur spike in poor relief
April 6, 2013
Kathleen McLaughlinHeading into the 2008 recession, Center Township sat on $10.5 million in cash, but sky-high unemployment and rising poverty
over the next four years failed to drain those funds, and the disconnect persists in several area townships.
MoreWhitsett bids to redevelop Star headquarters
April 1, 2013
Scott OlsonOne of the city's most prolific developers of affordable housing hopes to buy the Indianapolis Star headquarters
to redevelop the property into apartments or condominiums.
MoreBru, Mesh owner planning third eatery in Mass Ave neighborhood
March 26, 2013
Scott OlsonMike Cunningham has signed a letter of intent to buy a building at 620 N. East St. that he said would house a "new American
diner."
MoreGeico service center to create up to 1,200 jobs in Carmel
March 18, 2013
Mason KingThe 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.
MoreInvestor places first bet on Zionsville's Main Street
March 12, 2013
Tom HartonEric Bretzman, an engineer for Chip Ganassi Racing, closed March 1 on the purchase of 40 S. Main and negotiated a new long-term
lease with il Villagio, an Italian restaurant that has operated in the 4,000-square-foot building for 10 years.
MoreAmbrose snags large industrial deal
February 26, 2013
Tom HartonAmbrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution
center for Gordmans Inc.
MoreREI, Chicago partner picked to build office building at IUPUI
February 19, 2013
Tom HartonThe five-story, $22.9 million building would be constructed on university-owned land at the northeast corner of New York Street
and University Boulevard.
MoreCIB cuts price on Ober Building after inspections
February 11, 2013
Cory SchoutenThe 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.
MoreBales trial in jury's hands after colorful closings
February 7, 2013
Cory SchoutenDuring three hours of closing arguments Wednesday in the federal fraud trial of real estate broker John M. Bales and William
E. Spencer, a federal prosecutor and two top-tier Indianapolis defense attorneys delivered a series of memorable one-liners
and rhetorical flourishes designed to stick with jurors.
MoreDefense rests in Bales trial after flurry of witnesses
February 6, 2013
Cory SchoutenClosing arguments are expected to begin Wednesday afternoon in the federal fraud trial of Indianapolis real estate broker
John M. Bales and partner William E. Spencer after the defense raced through seven witnesses Tuesday and early Wednesday.
MoreDefense attorneys turn tough in Bales trial
February 1, 2013
Cory SchoutenThe legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first
witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank,
mail and wire fraud.
MoreDefense attorneys in Bales case trash former co-defendant
January 30, 2013
Cory SchoutenAttorney and developer Paul J. Page is no longer a co-defendant in the fraud trial of real estate broker John M. Bales and
partner Bill Spencer. But you wouldn't know it from the action Tuesday in U.S. District Court. Only now, rather than federal
prosecutors, it's defense attorneys for Bales and Spencer who are targeting Page.
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Good ole' Obamacare. Thanks liberals and those who didn't bother to vote.
Yes. Blame those who were too lazy to go vote Obama out and those who voted him in again. That's my take on it. I know folks won't get it on the left. OK. Start berating me now!
Serioulsy, people are AGINST this project? Most communities would be salivating over a project like this. You'd rather have an empty eye-sore gas station and shacks posing as apartments? This project is exactly what BR needs. BUILD IT MR MAYOR. And yes, I am a BR resident, and have been for 20 years.
As a St. Vincent employee of over 20 years, I am saddened and disheartened by this announcement. Unfortunately, as the healthcare "industry" continues on this political and corporate path, all that St. Vincent Hospital has stood for spiritually for its employees and this community is being sucked dry. I know it truly has no choice. It is not just Obamacare or just competition or just any single thing. This trend started long before I was even born when the government became involved in healthcare and it became an "industry." I grieve for those who will lose their jobs, one of whom may be me, but I also grieve for this hospital which I have served for over 20 years. May God give us and it the grace to withstand the future of healthcare.
Why do people constantly harp on this issue and act ignorant about what a city population measures? A city's population is the city's population. There is no argument or debate about it. If you want to measure the density of a city--measure it. If you want to measure the size of a metropolitan area, then measure the metropolitan population. City boundaries cover different sized areas--and they always have (though the disparity has probably increased since about 1900 or so when more cities began annexing their surrounding communities). For example, San Francisco only covers 49 square miles while Houston cover nearly 600 square miles. No one argues about the population rankings of either city even though they clearly cover extremely different sized areas. Indianapolis is the 13 largest city by population in the U.S. That is a fact. While the population of a metropolitan area may give you a better sense of how large a community is, as noted, even metro areas can vary widely in the size of geographic area they cover--so that is not a perfect comparison either.