Check out a round-town roundup chock full of new locations for popular restaurants including La Margarita, Stacked Pickle and Chicago’s Pizza, along with a new family dinner theater and a new concert venue for Fountain Square.
Indianapolis leaders have targeted four core urban areas for renewal, taking steps to create new tax-increment-financing districts to seed economic development there.
Tennis advocates have identified three near-downtown parcels for a new Indianapolis Tennis Center and expect to make a sponsorship announcement soon that could kick-start the development.
-ITT Educational Services Inc. leased 18,386 square feet of office space at 2525 N. Shadeland Ave. The tenant was represented by Sam Smith of Colliers International. The landlord, Western Select Properties LP, was represented by Rich Forslund and Matt Langfeldt of Summit Realty Group.
-Cummins Inc. leased 12,634 square feet of office space in Capital Center, 251 N. Illinois St. The tenant was represented by Yumi Prater and Sam Smith of Colliers International. The landlord, VV USA City LP, was represented by Dan Richardson of CB Richard Ellis.
-Live Nation Worldwide Inc. leased 7,941 square feet at 9100 Keystone Crossing. The tenant was represented by Mike Semler of Cassidy Turley. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Sobongo.com leased 6,254 square feet of office space at 7320 E. 86th St. The tenant was represented by Yumi Prater of Colliers International. The landlord, East 86th Street Partners LLC, was represented by Drew Augustin of Alliance Commercial Real Estate.
-Casa Grande Mexican Restaurant leased the 6,000-square-foot former Max & Erma’s restaurant at The Pavilion at Castleton, 5899 E. 86th St. The tenant was represented by Dave Kaverman of Anthony Wayne Business Exchange. The landlord, Stough Associates LP, was represented by Mark Perlstein of Sitehawk Retail Real Estate.
-La Fuente Mexican Restaurant leased 4,923 square feet at Exit Five Shopping Center, 9771 E 116th St., Fishers. The landlord, Sunbeam Development Corp., was represented by Mark Perlstein of Sitehawk Retail Real Estate. The tenant represented itself.
-Presley’s Enterprises LLC leased 4,721 square feet at Precedent Retail Center, 3855 E 96th St. The tenant was represented by Art Small of Realty Executives. The landlord, The Retail Center At Precedent Park LP, was represented by Mark Perlstein of Sitehawk Retail Real Estate.
-Burns & Wilcox Ltd. leased 4,506 square feet at 8888 Keystone Crossing. The tenant was represented by Dave Black of CresaPartners. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-American Society of Clinical Pathology leased 3,178 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.
-U.S. Rep. Dan Burton leased 1,789 square feet at 8900 Keystone Crossing. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-State Farm Insurance-Tom Grimsly leased 1,420 square feet in Clover Creek Commons, 17160 Dragon Fly, Noblesville. The tenant was represented by Liz Yoho of Providence Partners. The landlord, The National Bank of Indianapolis, was represented by Ashley Bussell and Ralph Balber of Newmark Knight Frank Halakar.
-SunQuest Systems Inc. leased 849 square feet of office space at 5455 W. 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Scott H. Lindenberg of Echelon Realty Advisors. The tenant represented itself.
The tax districts allow the city to capture new property tax payments within specific boundaries and apply those funds to infrastructure upgrades and other incentives designed to lure private investment.
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
The IHOP restaurant chain is trying to regain a foothold in central Indiana with two new locations under construction and at least three more in the works.
The city of Indianapolis plans to announce a major initiative to turn a stretch of 16th Street northwest of downtown into a hub for biotechnology and other high-tech companies.
Carmel Mayor Jim Brainard on Tuesday unveiled details of a multimillion-dollar project expected to create more than 200 construction jobs and 140 permanent positions over the next two years.
Officials on Thursday shared details of a long-term plan to redevelop an industrial stretch northwest of downtown with the goal of attracting hundreds of residents and dozens of high-tech companies to the area.
City officials are sharing new details of a plan to redevelop Bush Stadium into more than 250 apartment units, while preserving the stadium's façade.
Indianapolis leaders are hoping a new plan launched by Mayor Greg Ballard’s administration to transform the area northwest of downtown into a high-tech job and life-sciences research magnet will turn the long-discussed idea into a reality.
Architect Sungano Ziswa, a native of Zimbabwe, is Domain Architecture’s primary adviser on an apartment project that is the largest solo effort Domain has undertaken in its 15-year history.
The chain is trying to regain a foothold in central Indiana with two locations under construction and at least three more in the works.
Merchants’ Square shopping center, built in 1970 as the enclosed Keystone Square Mall and redeveloped into an open-air center and renamed in the mid-1990s, is riddled with vacancies and bracing for another high-profile departure, despite its prime location.
West Coast Tacos, which led a mobile culinary trend in Indianapolis last summer, plans to expand into Carmel and Fishers, as well as Bloomington and West Lafayette, in the next few months.
Say what? “Excessive hospitality” while promoting its drug Byetta got Eli Lilly and Co. dinged by the U.K.-based Prescription Medicines Code of Practice Authority, a self-regulatory group. And what exactly counts as “excessive”? Seven pints of beer, two gins, two whiskies, seven whisky liqueurs and three large glasses of red wine—oh, and a taxi fare afterward, according to a summary of the case posted by the practice authority. The booze was purchased at an Indian restaurant for three Lilly sales reps and two diabetes nursing specialists. The occasion was the endocrinologist speaking about off-label uses of Byetta. The practice authority asked Lilly to look into the complaints of an ex-employee, but Lilly said there was no case to answer. The authority determined otherwise, which is why it gave Lilly its public flogging.
Indiana University Health has pulled a prominent practice of cancer physicians into its fold. Central Indiana Cancer Centers sold its five facilities to IU Health and transferred its 150 employees to the Indianapolis-based hospital system. The 16 physicians in the practice will remain independent, but they have signed a service agreement with IU Health. Financial terms of the deal, which closed June 1, were not disclosed. But it is a big win for IU Health, as Central Indiana Cancer Centers has a well-established presence in Carmel, Fishers, Greenfield, Greenwood and the east side of Indianapolis. Cancer services are key financially for hospitals because of the growing prevalence of the disease, and also because cancer patients often need surgery. IU Health now has more than 60 medical oncologists, not counting any of its radiation oncologists or cancer surgeons. Central Indiana Cancer Centers, established near Community Hospital-East in 1976, also had discussions with the three other major hospital systems in Indianapolis: Community, St. Vincent Health and Franciscan St. Francis Health. A partnership with a hospital became essential for Central Indiana Cancer Centers as hospitals have spent the past three years gobbling up physicians of all stripes—both primary care doctors and specialists. IU Health Physicians now employs more than 500 doctors and Community Health Network has more than 550.
City officials on Thursday unveiled a long-term plan to redevelop an industrial stretch northwest of downtown with the goal of attracting hundreds of residents and dozens of high-tech companies to the area. The ambitious urban renewal effort, dubbed the 16 Downtown Technology District, builds from a strategy discussed over more than a decade to turn the corridor between IUPUI and 16th Street into a life-sciences research hub. The idea is to create a trendy urban district where residents can live within blocks of work. The project could require $15 million to $20 million in public investment and hundreds of millions of dollars in private investment. It is expected to take 10-20 years to complete. Officials said a final agreement is near for the redevelopment of the historic Bush Stadium site, which is wedged between 16th Street and the White River near Harding Street. The city is contributing about $5 million to the $23 million project, including tax dollars generated in the area and more that will be transferred from the consolidated downtown tax-increment financing district. Developer John Watson said he also is seeking a federal loan to help finance part of the project. Indianapolis also will invest another $3 million in public money to renovate Indiana Avenue from roughly 10th Street to 16th Street with new landscaping, walking paths, bike lanes and other streetscape elements designed to brand the area. That funding will come from initial proceeds from the sale of the city’s water and sewer utilities to Citizens Energy Group.
Indianapolis police are searching for the gunman behind an early-morning homicide on the west side. A man was shot about 12:30 a.m. Monday near 16th Street and Lafayette Road. He was taken to Wishard Hospital, where he died.
-DP Holdings LLC bought a 214,414-square-foot building at 401 Enterprise Blvd., Lebanon. The price wasn’t disclosed. The seller, MI Windows and Doors Inc., was represented by Patrick B. Lindley of Cassidy Turley and Jay Archer of Duke Realty. The buyer represented itself.
-3202 South East Street LLC bought an 8,000-square-foot retail center at 3202 S. East St. The price wasn’t disclosed. The buyer was represented by Ross Reller of Colliers International. The seller, Kin Properties, was represented by Stephen Daum of Summit Realty Group.
-Diversity Lawncare Inc. bought a 3,400-square-foot industrial building with a 24,800-square-foot lot at 4602 E. 16th St. The price wasn’t disclosed. The buyer was represented by Barrett Real Estate. The seller, Fifth Third Bank, was represented by Harvey Levin and Andrew Schrage of Coldwell Banker Commercial Realty Services.
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK’d Monday night by the Carmel City Council after numerous concessions.
