Real estate deals

Manufacturer plans distribution center in Plainfield

April 17, 2012
 IBJ Staff
Wisconsin-based Regal Beloit Corp. has hired Browning/Duke Realty to build a 376,000-square-foot distribution center in Plainfield, the company announced Tuesday.
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Plans for Broad Ripple parking garage hit snag

April 9, 2012
Scott Olson
City officials are recommending that construction of the $15 million parking garage and retail project be denied because the property sits 4 feet below a flood plain.
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French mall operator looks to Simon for know-how

March 23, 2012
Bloomberg News
Simon Property Group Inc.’s cutting-edge experience as the biggest U.S. mall owner will help Klepierre SA boost rental income at its shopping centers, the French company’s CEO says.
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Irvington apartment, streetscape projects clear hurdles

March 20, 2012
Tom Harton
Two significant construction projects are closer to starting in Irvington, where the district’s East Washington Street commercial corridor is bouncing back even as one of its key buildings faces demolition.
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Deal rekindles $45M downtown projectRestricted Content

March 17, 2012
Cory Schouten
Former partners in Kosene & Kosene Development have settled a legal dispute that jeopardized redevelopment of the vacant former Bank One Operations Center downtown. Milhaus Development has until May 1 to begin construction.
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Mass Ave restaurant plans clear first hurdle

March 9, 2012
The city's Historic Preservation Commission has approved rezoning and variance requests for two buildings sought by the owners of Broad Ripple's Brugge Brasserie just south of the intersection of Massachusetts and Park avenues.
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Simon Property Group goes on $3.5B mall spending spree

March 8, 2012
 IBJ Staff and Bloomberg News
The Indianapolis mall owner is expanding its global profile, agreeing to buy a controlling stake in a French firm with a 271-property European portfolio. Simon also is buying out a partner in its Mills portfolio closer to home.
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Developer Broadbent loses fight to keep finances under wraps

March 7, 2012
Scott Olson
A newly public filing shows the co-founder of The Broadbent Co.'s net worth has fallen 60 percent, to $48 million.
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Industrial spec development making a comeback

February 21, 2012
Tom Harton
Speculative development is returning to the modern bulk industrial market after a four-year drought, with at least two projects preparing to break ground this spring and another in the works.
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Developer plans $15.7M senior-living center on east side

February 17, 2012
Scott Olson
The city of Indianapolis approved the project after accepting Mainstreet Property Group's offer to purchase the property at 16th Street and Arlington Avenue for $912,500.
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Foreclosure sought for downtown's Century Building

February 15, 2012
Scott Olson
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
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Texas firm plans to move into Franklin distribution building

February 14, 2012
Scott Olson
Music wholesaler Anderson Merchandisers LP is expected to occupy a 703,000-square-foot warehouse formerly used by Best Buy.
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Broadbent sells part of Fashion Mall Commons

January 24, 2012
Tom Harton
The 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.
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Brugge owners eye downtown buildings for brewery, eatery

January 10, 2012
Tom Harton
Owners 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.
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IndyFringe buys headquarters buildingRestricted Content

January 7, 2012
 IBJ Staff
The organizer of the IndyFringe Festival bought the building it has rented for three years and is raising money to expand it.
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Local developer rescues 1913 apartment building from wrecking ball

January 3, 2012
Cory Schouten
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children's Museum from demolition.
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Design firms buy building on East Market StreetRestricted Content

December 31, 2011
 IBJ Staff
The one-story structure will serve as a studio and headquarters for Axis Architecture + Interiors and Rundell Ernstberger Associates LLC.
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Progress slow on variety of metro area deals

December 27, 2011
Tom Harton
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
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Krieg 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.
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Park Tudor land purchase puts stop to housing development

December 20, 2011
Tom Harton
The 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.
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Warnings about broker's tactics went unheeded

December 17, 2011
Cory Schouten
Several state employees openly questioned how John Bales' real estate brokerage did business long before the FBI launched an investigation that led to his indictment.
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Proposed Broad Ripple parking garage gets zoning OK

December 13, 2011
Scott Olson
The 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.
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Carmel office/retail complex hurt by road project gets second chance

December 13, 2011
Tom Harton
Merchants 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.
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Giant Super Bowl ads set to adorn downtown buildings

December 7, 2011
Cory Schouten
Downtown building owners are looking to cash in on the upcoming Super Bowl by selling space for massive temporary advertisements.
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New deals add to robust year in apartment sales

December 6, 2011
Tom Harton
The 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.
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