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Real estate deals
Texas firm plans to move into Franklin distribution building
February 14, 2012
Scott OlsonMusic wholesaler Anderson Merchandisers LP is expected to occupy a 703,000-square-foot warehouse formerly used by Best Buy.
MoreBroadbent sells part of Fashion Mall Commons
January 24, 2012
Tom HartonThe 86,634-square-foot building that houses a Kohl's department store fetched $15.3 million, or about $177 per square foot,
according to a CoStar Group report.
MoreBrugge owners eye downtown buildings for brewery, eatery
January 10, 2012
Tom HartonOwners of Broad Ripple’s Brugge Brasserie want to bring a new restaurant concept to the Massachusetts Avenue district
downtown, where they also plan to relocate the craft brewery that supplies beer to Brugge.
MoreIndyFringe buys headquarters building
January 7, 2012
IBJ StaffThe organizer of the IndyFringe Festival bought the building it has rented for three years and is raising money to expand
it.
MoreLocal developer rescues 1913 apartment building from wrecking ball
January 3, 2012
Cory SchoutenA local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children's Museum
from demolition.
MoreDesign firms buy building on East Market Street
December 31, 2011
IBJ StaffThe one-story structure will serve as a studio and headquarters for Axis Architecture + Interiors and Rundell Ernstberger
Associates LLC.
MoreProgress slow on variety of metro area deals
December 27, 2011
Tom HartonMany projects we reported on here over the past year are still in progress, confirming that the real estate market is still
sluggish.
MoreKrieg Bros. building sold to owner of nearby structure
December 22, 2011
Buyer Rick Coombes also owns the building at 111 S. Meridian St., the former home of Brenner Luggage, located just north of
where the religious store operated for decades.
MorePark Tudor land purchase puts stop to housing development
December 20, 2011
Tom HartonThe private school recently bought the 5.7 acres north of its campus that Dr. Bill Nunery, a local ophthalmologist, had planned
to develop into an upscale residential enclave known as Grace Hill.
MoreWarnings about broker's tactics went unheeded
December 17, 2011
Cory SchoutenSeveral state employees openly questioned how John Bales' real estate brokerage did business long before the FBI launched
an investigation that led to his indictment.
MoreProposed Broad Ripple parking garage gets zoning OK
December 13, 2011
Scott OlsonThe controversial project is a $15 million, three-story garage that the city of Indianapolis will subsidize with $6.3 million
in parking meter revenue. The project also features a retail component, which neighbors say will lead to increased traffic.
MoreCarmel office/retail complex hurt by road project gets second chance
December 13, 2011
Tom HartonMerchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start
after major road construction drove away tenants and caused a previous owner to default.
MoreGiant Super Bowl ads set to adorn downtown buildings
December 7, 2011
Cory SchoutenDowntown building owners are looking to cash in on the upcoming Super Bowl by selling space for massive temporary advertisements.
MoreNew deals add to robust year in apartment sales
December 6, 2011
Tom HartonThe number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy
rates and a combination of ample supply and low borrowing costs.
MoreFlaherty nears deal for Cosmopolitan investment
November 22, 2011
Cory SchoutenThe developer of downtown's Cosmopolitan on the Canal is nearing a deal to sell a stake in the building to an investor in
a move that could free up capital to launch a $24 million second phase.
MoreMass Ave deal's brokerage fee raising eyebrows
November 19, 2011
Cory SchoutenA real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis
Fire Department stands to collect a million-dollar-plus payday if it closes the deal.
MoreBuyers edging back into Indianapolis commercial real estate
November 5, 2011
Cory SchoutenMost buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
MoreDuke Realty's massive office sale wins praise on Wall Street
November 5, 2011
Greg AndrewsInvestors have bid up shares of Duke Realty 13 percent since the company announced it was selling a huge portfolio of office
buildings for $1.1 billion.
MoreRivers Edge spawns new retail center across 82nd Street
October 29, 2011
IBJ StaffVeritas Realty is betting more restaurants and retailers are interested in opening stores near Nordstrom Rack and The Container
Store.
MoreDuke Realty selling 82 office buildings for $1.1B
October 21, 2011
IBJ StaffThe sale includes buildings with a combined 10.1 million square feet of space in Atlanta, Chicago, Columbus, Dallas, Minneapolis,
Orlando and Tampa. None of the properties are in Indiana.
MoreJillian’s arcade games, bowling alley up for auction
October 20, 2011
An auction to liquidate the downtown entertainment complex will be held Oct. 26 to sell more than 100 arcade games, a nine-lane
bowling alley and 12 pool tables. Jillian's operators owed the landlord roughly $700,000 in unpaid bills.
MoreReal estate brokerage sues IU Health over commissions
October 20, 2011
Scott OlsonCBRE Inc. accuses the local hospital system of cheating it out of consulting fees that could top seven figures related to
several building projects.
MoreTexas investors buy northeast-side hotel
October 18, 2011
Tom HartonA couple from suburban Houston bought the 187-room Ramada Inn in an online auction for $1.3 million and have rebranded it
as ExtendASuites.
MoreApartments, retail planned for Virginia Ave. corridor
October 8, 2011
Cory SchoutenCall it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue
in this historic neighborhood southeast of downtown is under construction or will be soon.
MoreIndustrial-market sales this year end deal drought
September 20, 2011
Tom HartonThrough the first eight months of this year, there were at least seven sales of large industrial properties in the market,
compared with zero last year.
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So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.
Owner occupied housing. Clear enough?
So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.
Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.
RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.