Real estate deals

St. Vincent sports practice to fill vacant Clay Terrace big box

May 21, 2013
Scott Olson
St. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.
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Athenaeum weighs bids for surface lot redevelopment

May 18, 2013
Scott Olson
Three 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.
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Oesterle sells land to Angie's List, reaping millionsRestricted Content

May 18, 2013
Chris O'Malley
Angie’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.
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Downtown Lilly building fetches $90 million

May 16, 2013
Scott Olson
American 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.
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Whitsett goes big with Star project

May 10, 2013
Scott Olson
A 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.
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Developer shelves plan to buy city land, build Meijer

May 6, 2013
Scott Olson
Opus Development Corp.'s proposal for the project north of downtown included buying and bulldozing dozens of historic homes in the Flanner House neighborhood.
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Developers finish first project, shift focus to downtown deal

April 30, 2013
Scott Olson
Drew 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.
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Ownership snarl resolved, Illinois Building on block

April 27, 2013
Scott Olson
An 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.
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Downtown's historic Century Building set for sheriff’s sale

April 26, 2013
Scott Olson
The 112-year-old office building will return to the market in a precarious position, as a major tenant plans to depart.
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California firm snaps up downtown office towers

April 10, 2013
Scott Olson
Hertz Investment Group has closed on its purchase of the 650,000 square-foot, two-tower Capital Center and its 525-space underground parking garage.
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Developer to move HQ to Carmel, create 25 jobs

April 8, 2013
Mason King
Fast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
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As city budget tightens, Center Township trustee has money to burn

April 6, 2013
Kathleen McLaughlin
IBJ 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.
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City to buy key parcel for 16th Street tech corridorRestricted Content

April 6, 2013
Scott Olson
The 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.
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Tough times didn't spur spike in poor relief

April 6, 2013
Kathleen McLaughlin
Heading 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.
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Whitsett bids to redevelop Star headquarters

April 1, 2013
Scott Olson
One 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.
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Bru, Mesh owner planning third eatery in Mass Ave neighborhood

March 26, 2013
Scott Olson
Mike 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."
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Geico service center to create up to 1,200 jobs in Carmel

March 18, 2013
Mason King
The 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.
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Investor places first bet on Zionsville's Main Street

March 12, 2013
Tom Harton
Eric 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.
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Ambrose snags large industrial deal

February 26, 2013
Tom Harton
Ambrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution center for Gordmans Inc.
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REI, Chicago partner picked to build office building at IUPUI

February 19, 2013
Tom Harton
The five-story, $22.9 million building would be constructed on university-owned land at the northeast corner of New York Street and University Boulevard.
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CIB cuts price on Ober Building after inspections

February 11, 2013
Cory Schouten
The 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.
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Bales trial in jury's hands after colorful closings

February 7, 2013
Cory Schouten
During 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.
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Defense rests in Bales trial after flurry of witnesses

February 6, 2013
Cory Schouten
Closing 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.
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Defense attorneys turn tough in Bales trial

February 1, 2013
Cory Schouten
The 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.
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Defense attorneys in Bales case trash former co-defendant

January 30, 2013
Cory Schouten
Attorney 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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