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Real estate deals
Bales defense: Elkhart deal was a 'scheme to help'
January 29, 2013
Cory SchoutenFacing a looming deadline to find suitable office space for the state Department of Child Services, Indianapolis real estate
broker John M. Bales and partner Bill Spencer in 2008 dipped into their own pockets to help close a difficult lease deal,
their defense attorneys contend.
MoreIndiana House OKs looser rules on selling old schools
January 28, 2013
Associated PressThe Indiana House has approved a bill that would shorten the time that school districts must hold onto vacant buildings in
case a charter school operator wanted to move into the building.
MoreCassidy Turley offers mixed outlook on Indy real estate
January 10, 2013
Cory SchoutenThe city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more
cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already
sluggish recovery.
MoreDuke Realty sells six-building local office complex
January 9, 2013
Cory SchoutenTwo 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.
MoreFortune's death puts 14 West building up for grabs
January 5, 2013
Cory SchoutenA historic brick building long used as a restaurant and hotel suites next door to Circle Centre mall is going up for sale
for the first time in almost a decade, with an expected asking price of $4 million.
MoreKite continues Southeast push with $37.3M in acquisitions
December 27, 2012
IBJ StaffIn December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds
from its recent $60 million stock sale.
MoreIrvington groups save landmark from demolition
December 26, 2012
Dan HumanThe former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood.
About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
MoreEast-side biz incubator's new owner is old owner
December 5, 2012
Scott OlsonThe 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.
MoreSite of historic church being shopped for retail development
December 4, 2012
Tom HartonThe 4.5-acre site of the St. John United Church of Christ is back on the market following the settlement earlier this year
of a lawsuit between the church and the city.
MoreBloomington approves $27 million downtown hotel project
November 27, 2012
Associated PressThe Bloomington City Council has approved giving up some city property for construction of a $27 million Hyatt Hotel near
the downtown courthouse square.
MoreZionsville, school district make $5.7M land deal with Dow
November 14, 2012
Scott OlsonZionsville Community Schools and the town of Zionsville are teaming up to purchase and develop a prime piece of real estate
owned by Dow Chemical Co.
MoreKeystone Group picked for Butler mixed-use project
October 6, 2012
The university chose Keystone over Kite Realty Group and Lauth Property Group to build housing, retail and parking worth up
to $45 million.
MoreDeveloper targets long-empty College Avenue retail building
October 2, 2012
Tom HartonTeagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from
an attempt—since withdrawn—to demolish the structure.
MoreSecond-tier office buildings Indianapolis now top-of-mind for buyers
September 22, 2012
Mason KingClass B admirers are benefiting from low prices and lending rates, and turning the buildings into apartment and company headquarters.
MoreLuxury-outlet strategy puts Simon on top of mall industry
September 20, 2012
Bloomberg NewsLuxury outlet malls—where upscale retailers such as Coach Inc. and Michael Kors Holdings Ltd. hawk discount goods—are
now the main source of expansion for the Indianapolis-based real estate investment trust, the country’s largest.
MoreLocal buyer acquiring Circle Tower for $6M
September 15, 2012
Cory SchoutenA fast-growing Indianapolis real estate firm is poised to acquire one of the city’s most iconic and well-located historic
buildings.
MoreMDC approves CIB's sale of building to Steak n Shake
September 5, 2012
IBJ StaffThe Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion
County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
MoreSteak n Shake paying $3.8M for Ober Building
September 4, 2012
Cory SchoutenAn affiliate of the Steak n Shake restaurant chain has agreed to pay $3.8 million to acquire downtown's Ober Building
from the Capital Improvement Board of Marion County. The restaurant chain likely will move its headquarters to the 1910 building.
MoreBell Techlogix landlord buys tech firm's new headquarters
August 28, 2012
Tom HartonPhiladelphia-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.
MoreInvestor urges General Growth to pursue being acquired by Simon
August 27, 2012
Bloomberg NewsBill Ackman’s Pershing Square Capital Management LP, the second-largest investor in General Growth Properties Inc.,
urged the mall owner to enter negotiations for a takeover by rival Simon Property Group Inc.
MoreSimon again considering acquisition of shopping mall rival
August 24, 2012
IBJ Staff and Bloomberg NewsOne of General Growth Properties Inc.'s largest shareholders says Indianapolis-based Simon Property Group has discussed
acquiring the Chicago-based shopping mall competitor.
MoreHistoric Market Street building gets new owner
August 21, 2012
Tom HartonThe Corydon Group bought 125 W. Market St. Aug. 2 and will occupy the 4,200-square-foot top floor of the three-story building
after renovations are finished in early November.
MoreVacant Consolidated Building purchased by local buyers
August 18, 2012
Cory SchoutenTwo local buyers are angling to revitalize a century-old, 15-story downtown landmark that has confounded redevelopment attempts
since its last tenants departed in the late 1990s. Ambrose Property Group and The Whitsett Group hope to transform the Consolidated
Building into 98 apartments with first-floor retail or restaurant space.
MoreLocal developer buys 50 acres in Intech Park
August 17, 2012
Scott OlsonAce 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.
MoreTroubled Di Rimini apartment building closer to opening
August 15, 2012
Scott OlsonA controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer
to being ready for tenants after city officials granted the project’s new owner a zoning variance.
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It's also across the street from Fogo de Chao and Morton's....
Yep, the haters are trying to make good news bad. I guess it is hard to get people to believe the series is dying when they are gaining new sponsors.
David Copperfield! I remember watching his specials on TV when I was little.
Don't forget this is next to an MMA gym, a pawn shop, and some abandoned spaces.
Good project for Zionsville - A group who has owned the property for many years has waited and worked patiently to bring highest and best use development to a major corridor, and mix that in with the great downtown you have. Win Win. All the Best to Pittman Partners and Zionsville.