Vacancy rates

Ambrose snags vacancy-plagued Meridian Street property

July 5, 2014
Scott Olson
Ambrose Property Group Inc. is doubling down on the struggling downtown office market by purchasing its second property within six months.
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Circle Centre reports higher occupancy, lower revenue

May 5, 2014
Scott Olson
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
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Brokers fear criminal justice complex could harm downtown

April 18, 2014
Kathleen McLaughlin
City officials and real estate professionals debated on Thursday the pain from moving jails, courts and other criminal justice functions to a proposed complex outside of downtown.
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Indianapolis office market shows rise in occupancy

April 17, 2014
 IBJ Staff
The improvement was sparked by growing occupancy in the suburban office market, where the vacancy rate fell from 20.3 percent to 18.2 percent.
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Big tenant nearly completes tower's sudden comeback

March 31, 2014
Scott Olson
On the heels of signing Angie's List Inc. in downtown's Landmark Center, new owner Ambrose Property Group has inked a lease for the Christian Church-Disciples of Christ, helping to boost occupancy above 90 percent.
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Brokers trying to reverse vacancy in downtown Indy officesRestricted Content

March 8, 2014
Scott Olson
The vacancy rate for Class A space approached 20 percent in 2011 for the first time in at least 15 years and kept trending upward, settling at 21.4 percent at the end of last year.
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Owners of Regions Tower putting building on the market

December 17, 2013
Scott Olson
Office brokers say the 662,000-square-foot-building, downtown's third largest, could fetch more than $60 million, or about $100 a square foot.
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Simon plans for spinoff get warm reception from Wall Street

December 13, 2013
Scott Olson
After recently stalling on the stock market, shares of Simon Property Group perked up in trading Friday after the massive local firm announced plans to spin off nearly 100 retail centers into a new firm. Analysts approved of the move.
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Carmel complex's new owner plans major upgrade

November 27, 2013
Andrea Muirragui Davis
Zeller Realty Group has acquired the 300,000-square-foot Meridian Plaza right on Carmel's front door step, and is gearing up for a $4 million revamp.
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Meridian Mark buildings in Carmel expected to hit market

October 22, 2013
Scott Olson
The two eight-story, granite-clad buildings are highly visible along the North Meridian Street corridor, which has become attractive to investors as the market's vacancy rate continues to fall.
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Two troubled downtown office buildings turn tenants' heads

September 10, 2013
Scott Olson
The Landmark Center at 1099 N. Meridian St. and the historic Century Building at 36 S. Pennsylvania St. (pictured) are both in receivership but attracting interest from potential buyers and tenants.
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Northern office market on upswing, downtown ‘stagnant’

July 16, 2013
Scott Olson
Downtown's vacancy rate continues to hover around 20 percent, according to mid-year market reports, with more space becoming available than was leased. Meanwhile, the northern suburban market is showing the most improvement.
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Northside office complex might fetch more than $40M

July 9, 2013
Scott Olson
The three buildings near I-465 and North Meridian Street that make up Meridian Corporate Plaza were lost by Lauth Investment Properties LLC in its bankruptcy reorganization.
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City’s first spec office building in 5 years opening doors

June 5, 2013
Scott Olson
Sourwine Real Estate Services expects to have its $12 million, 80,700-square-foot project finished later this month in one of the city's hottest north-side development areas.
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Cassidy Turley offers mixed outlook on Indy real estate

January 10, 2013
Cory Schouten
The 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.
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Circle Centre to build entry through empty NordstromRestricted Content

November 17, 2012
Cory Schouten
Construction could begin soon in the former home of Nordstrom at Circle Centre mall, but the project does not signal an end to the mall’s limbo following the 2011 departure of its marquee anchor.
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Duke loss narrows, quarter meets expectations

November 1, 2012
 IBJ Staff
Indianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32 million in the same quarter of 2011.
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Malls see big changes just in time for holidaysRestricted Content

December 3, 2011
Cory Schouten

New stories have debuted at malls across the Indianapolis area. Many are pop-up shops eager to capitalize on holiday shoppers and the Super Bowl crowds.

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California firm's Park 100 portfolio goes back to lender

October 4, 2011
Tom Harton
California-based Blue Real Estate lost the last big chunk of its Indianapolis portfolio last week when a lender took control of Blue’s 360,000-square-foot, seven-building portfolio in Park 100.
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Borders liquidation another blow to retail real estate

July 21, 2011
Bloomberg News
Borders Group Inc.’s proposed liquidation will increase available U.S. retail space by about 6.3 million square feet as the industry struggles with near-record vacancy rates and stagnant rents.
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Report paints brighter picture for retail

June 14, 2011
Tom Harton
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
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Office stats don't tell full story of market's recovery

April 19, 2011
Tom Harton
Cassidy Turley's research director said the pace of leasing activity is the best he’s seen in 18 to 24 months.
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Retail REIT profits may slip on store bankruptcies

April 11, 2011
Associated Press
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
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Rolls-Royce gives downtown office market a bounce

March 22, 2011
Tom Harton
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
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Duke Realty sells offices in shift toward industrialRestricted Content

February 19, 2011
Scott Olson
Strategy also calls for greater Southeast presence, less investment in the Midwest.
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