Real estate deals

Simon target's valuation 'out of reach' for Indianapolis firm

January 7, 2011
Bloomberg News
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
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D-A Lubricant moving from Indianapolis to Lebanon

January 5, 2011
Scott Olson
Company will purchase 23 acres and have Duke Realty Corp. build a 225,000-square-foot industrial facility in Lebanon Business Park. The move should be completed by December.
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Brightpoint expansion includes three buildings

January 4, 2011
The distributor of wireless devices has completed its purchase of a 533,000-square-foot facility in the AllPoints Midwest business park in Plainfield and is leasing a 200,000 square-foot building, also in Plainfield.
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Local office market continues vacancy struggles

January 4, 2011
 IBJ Staff
The Indianapolis office market suffered through a tough 2010, marked by stagnant and high downtown vacancy rates, falling suburban occupancy rates and another year without construction activity.
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Commercial real estate will continue its climb back in 2011

January 4, 2011
Tom Harton
Medical office likely will be the strongest sector, followed by apartments.
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Simon lands $4.6B loan to fund offer for London mall owner

December 29, 2010
Bloomberg News
Simon Property Group Inc. has secured a 3 billion pound loan that will give the company the resources to bid for London-based Capital Shopping Centres Group Plc.
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Analysts: Simon unlikely to buy Capital Shopping

December 21, 2010
Bloomberg News
Simon Property Group Inc. is unlikely to buy Capital Shopping Centres Group Plc because it will take too long for rents to rise enough to justify a price its U.K. counterpart would accept, according to Barclays Capital real estate analysts.
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Duke Realty planning $967M in property deals

December 20, 2010
The Indianapolis-based real estate investment trust said it will sell 3.1 million square feet of suburban office space for $516.7 million and buy 4.9 million square feet of mostly industrial space for $450 million.
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Simon Property likely to continue pursuit of British mall ownerRestricted Content

December 18, 2010
 IBJ Staff and Bloomberg News
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
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North of South project clears rezoning hurdle

December 16, 2010
Scott Olson
The Metropolitan Development Commission agreed to rezone 14 acres of land, which houses a parking lot north of South Street between Delaware Street and Virginia Avenue downtown, to accommodate the $155 million mixed-use project.
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UPDATE: United Kingdom mall owner rejects Simon bid

December 15, 2010
Bloomberg News
Capital Shopping Centres Group Plc, the United Kingdom's biggest shopping mall owner, turned down Simon Property Group Inc.'s $4.6 billion bid, describing it as "inadequate."
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Simon bids $4.6B for U.K.'s Capital Shopping

December 15, 2010
Bloomberg News
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
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Simon’s options for Capital Shopping takeover dwindling

December 13, 2010
Bloomberg News
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
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British mall owner rejects Simon financing plan

December 13, 2010
Bloomberg News
Capital Shopping Centres Group Plc, Britain’s biggest shopping-mall owner, rejected a financing plan that would have given potential suitor Simon Property Group Inc. a larger stake in the company.
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North of South financing clears first hurdle

December 2, 2010
Scott Olson
The Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
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Electronics maker buying former GM factory in Anderson

November 30, 2010
Northwind Electronics LLC will invest $954,000 to buy, renovate and equip a former General Motors factory in Anderson—creating as many as 100 jobs in the next two years, state economic development officials said Tuesday afternoon.
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Historic downtown building poised for overhaul

November 30, 2010
Tom Harton
DLZ Indiana closed in September on the century-old building at 157 E. Maryland St. and plans to spend nearly $2.3 million renovating it.
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Possible Simon bid boosts British mall owner's stock

November 26, 2010
Bloomberg News
Shares of Capital Shopping Centres Group Plc, Britain’s biggest mall owner, rose the most since the company went public in 1992 after saying Indianapolis-based Simon Property Group Inc. may offer more than $3.6 billion in cash for the company.
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Foreclosure washes away water park plans in Fishers

November 24, 2010
Scott Olson
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
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Keystone plans mixed-use project on Madison Avenue

November 23, 2010
Cory Schouten
A local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown.
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Geist apartment complex sale ends drought of Class A transactions

November 23, 2010
Tom Harton
Grande Reserve at Geist fetched $13.3 million, just shy of the asking price.
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Gun club building, parking lot fetch $380,000 at auction

November 11, 2010
The historic, 8,000-square-foot Gatling Gun Club building sold for $250,000 and the 19,000-square-foot parking lot went for $130,000, to two separate bidders.
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Feds require Simon to sell outlet centers

November 11, 2010
Bloomberg News
The U.S. Federal Trade Commission said it is requiring Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, to sell outlets in a settlement related to the $2.3M purchase of Prime Outlets Acquisition Co.
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Gatling Gun Club building set for auction

November 10, 2010
Scott Olson
The historic structure at 709 N. Illinois St., along with a nearby parking lot, could be sold Wednesday afternoon. Declining membership and rising costs led the private club to seek a sale of the 160-year-old building.
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Redevelopment planned for vacant car dealership

November 9, 2010
Tom Harton
The 2.5-acre property might be retrofitted by late spring for fast-food, retail and possibly medical office users.
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