Recent Blog Posts

Take Two: Old theater gets new life

May 7, 2007
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A landscaping company is moving into the long-vacant former General Cinema theater at Lafayette Square Mall. Mainscape Inc. has signed a temporary lease and is working on a long-term deal with Simon Property Group, the mall’s owner. The company tore...
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Darden closing 7 Indiana restaurants

May 7, 2007
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Apparently Darden Restaurants is no longer keen on the Hoosier dining scene. The Orlando, Fla.-based company announced this weekend it's closing seven restaurants in Indiana, including Smokey Bones Barbeque and Grill locations in downtown Indianapolis and Avon, and the just-opened...
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Hotel proposed over Canal

May 4, 2007
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A Kansas developer has proposed a hotel, restaurant and retail space that would form a bridge over the Central Canal in the tradition of Ponte Vecchio in Florence, Italy (pictured). The plan...
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Don't cry for me, downtown eyesore

May 4, 2007
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An Argentinian restaurant called Taste of Tango is moving into a vacant building along East Washington Street downtown. The new owner, local real estate broker Fabricio Perez, has begun renovations and...
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North side retail nuggets

May 3, 2007
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A new Yats restaurant has opened in Fishers, at 8352 E. 96th St. The Cajun and Creole favorite is next door to a Blockbuster half a mile east of Interstate 69. The locally owned restaurant also has locations on College...
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Offers pour in for Guaranty Building

May 3, 2007
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The 98-year-old Guaranty Building on Monument Circle has attracted several prospective buyers, said Mike McMains, who owns the property with John Barnard. The local entrepreneurs bought the 9-story, 100,000-square-foot building at 20...
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Bahama Breeze skips town

May 2, 2007
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The popular island-themed restaurant along East 96th Street closed Friday, surprising many customers. A spokesman for Orlando-based Darden Restaurants said the company closed 9 restaurants that weren't in the best locations or performing...
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First Indiana Plaza for sale?

May 2, 2007
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Property Lines is hearing the owners of First Indiana Plaza are considering a sale of the struggling skyscraper. The 425,000-square-foot building is owned by New York-based Crown Properties Inc. The building's general manager, Julie Clements, said today she has no...
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Frozen Custard on the Canal at last

May 1, 2007
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Could it be? A long-promised Ritter's Frozen Custard and a coffee shop apparently are on schedule to open later this month on the north end of the Downtown Canal. The $3.5-million renovation of...
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City selling more Central State land

May 1, 2007
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A development team that bought 115 acres at the former site of Central State Hospital may soon buy another 33 acres from the city, at a cost of $223,500. Sound cheap? Mike Higbee, president of Development Concepts Inc. and one...
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City welcomes real estate group

May 1, 2007
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A few hundred of the nation's most influential real estate developers, brokers and investors are in town this week for meetings at the Hyatt. The CCIMs, or Certified Commercial Investment Members, are meeting...
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Live next door to The Distillery

April 30, 2007
Comments(9)
Plans are in the works for a residential and retail project on a state-owned parking lot between Indiana Avenue, Capitol Avenue and Vermont Street, IBJ reported this weekend. Two groups bid for the three-quarters-of-an-acre parcel, and the winner includes Jim...
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Fun with renderings

April 27, 2007
Comments(16)
This is one of four proposed projects for an acre of state-owned land along the canal between Ohio and New York streets. What do you think? Property Lines has been asking for...
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Afternoon kaffeeklatsch

April 26, 2007
Comments(4)
What better way to wake you up on a rainy Thursday than with a little coffee news? Here goes: Borders plans to transform its coffee shop and cafe downtown into a Seattle's Best Coffee, which is set to open in...
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Already regulars at Capital Grille

April 26, 2007
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Indianapolis Downtown Inc. Director of Real Estate Terry Sweeney doesn't normally play favorites. But it's a different story with Capital Grille. He's dined at the new restaurant attached to the Conrad Indianapolis four nights in a row. Property Lines got...
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The lure of tapas

April 25, 2007
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How strong is it? The owners of a new BARcelona Tapas restaurant think it's strong enough to overcome a risky downtown location at the northeast corner of Delaware and Ohio streets. The...
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Curious price estimates?

April 25, 2007
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A self-imposed MSA moratorium begins after this post. But I can't help but ask: How is it that the taller, more ambitious proposal for the Market Square Arena site costs $20 million less? The $130-million proposal for MSA calls for...
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Taxpayers' MSA price uncertain

April 24, 2007
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Neither of the teams hoping to redevelop the Market Square Arena site mention a specific figure for city incentive in documents filed with the city, but both say they need public money to make their projects work. In the $150-million...
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Your turn: FBI project perplexes

April 24, 2007
Comments(2)
The real estate community has been buzzing of late about the intrigue surrounding a new FBI field office planned for Castleton. What do you think? As IBJ reported, the U.S. General Services Administration awarded the $38-million project to a Missouri-based...
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Driving Tour: North Keystone

April 23, 2007
Comments(4)
Even if you haven't driven North Keystone lately, you know the big story here is Glendale. Fences are up and demolition has begun. Locally based Kite Realty Group is transforming the enclosed...
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Michigan Road land under contract

April 23, 2007
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Development plans could be in the works for another large piece of land along Michigan Road. The 18-acre North Park Masonic Lodge property at 5555 Michigan Road is under contract. The lodge is selling the property without a broker. In...
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What you crave

April 20, 2007
Comments(3)
Never fear, White Castle fans. The downtown location at 16th and Illinois streets, which is closed and surrounded by a fence, apparently will soon serve sliders again in a shiny new White Castle building with nicer landscaping. Changes are coming...
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Downtown getting home shops

April 20, 2007
Comments(6)
People living downtown won’t have to wait for a proposed Target to go home shopping closer to home. Carson Pirie Scott is renovating 25,000 square feet of its space on the third floor of Circle Centre mall for a new...
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No deal yet on JW Marriott

April 19, 2007
Comments(5)
The city and two local developers still are working on an agreement for a $250-million hotel complex including a JW Marriott near White River State Park. The parties had hoped to reach agreement by April 1. There are no hangups...
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Office Space, anyone?

April 19, 2007
Comment(1)
There's plenty available. New numbers from Colliers Turley Martin Tucker show office vacancy rates all over the city rose in the first quarter of 2007. Downtown's vacancy rate took a beating again, rising...
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