Flaherty & Collins Properties plans to build an $81 million, 28-story skyscraper on part of the former home of Market Square Arena in what would be the tallest new downtown development since the JW Marriott opened in 2011.
City incentives and a strong apartment market suggest Flaherty & Collins’ proposed $81 million, 28-story downtown apartment tower has a better chance of getting built than two previous attempts to redevelop the former site of Market Square Arena.
The city received five proposals to redevelop a portion of the former Market Square Arena site. Here are details of the proposals, including those submitted by developers that weren’t selected.
Flaherty & Collins, the developer of the 28-story tower, “would love to have a Whole Foods” or similar grocer as a retail tenant. With one Marsh two blocks away and another under construction nearby, the project begs the question whether the area can support three groceries.
There is much to praise in the proposal to redevelop the north half of the former Market Square Arena site, which was officially unveiled July 16.
There is much to praise in the proposal to redevelop the north half of the former Market Square Arena site, which was officially unveiled July 16. The 28-story apartment building promises to be visually appealing. That’s a subjective judgment, certainly, but consistent with much online reaction to the skyscraper’s design. Based on the renderings and […]
A flood of downtown apartments coming on the market is leasing up quickly, but much of the attached retail space continues to languish as some begin to wonder whether the residential boom will create enough retail demand.
Flaherty & Collins Properties is floating two redevelopment ideas for a seven-acre parcel on the edge of Carmel’s tony downtown, but both require public support that casts uncertainty over the project.
-Performance Assessment Network Inc. leased 17,150 square feet of office space at 11590 N. Meridian St., Carmel. The tenant was represented by R.J. Rudolph and Yumi Goodman of Colliers International. The landlord, Fidelity Office Building II LP, was represented by Mike Napariu of REI Investments Inc.
-Tish Flooring leased 10,078 square feet of industrial space at 4625 W. 86th St. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, North By Northwest AB Biynah LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.
-Minnick Services Corp. leased 5,600 square feet of industrial space at 2525 N. Shadeland Ave. The tenant was represented by Mark Writt of CBRE. The landlord, 2525 Shadeland LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.
-American Society of Clinical Pathology leased 3,178 square feet at 8900 Keystone Crossing. The tenant was represented by Sean Reynolds of Jones Lang LaSalle. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.
-Midwest Wealth Management Inc. leased 3,056 square feet at 8888 Keystone Crossing. The tenant was represented by Rob Lukemeyer of Baseline Inc. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.
-It's All Greek To Me Restaurant leased a 2,520-square-foot free-standing building formally occupied by Donato’s Pizza at 3530 Mann Road. The tenant was represented by Paul Rogozinski of Veritas Realty. The landlord, Donatos Pizza Realty LLC, was represented by Jeff Hubley of Midland Atlantic.
-Andreina Vitto DDS leased 2,261 square feet at Olio Pavilion, 11630 Olio Road, Fishers. The tenant was represented by Matt Jackson of Jackson Investment Group LLC. The landlord, Olio Pavilion, was represented by Keith Fried of Sitehawk Retail Real Estate.
-World Finance leased 1,900 square feet of retail space in Honey Creek Plaza, 3835 Moller Road. The tenant was represented by Seth Biggerstaff of Veritas Realty. The landlord, Trustco Development Co., was represented by Drew Kelly of Sandor Development Co.
-World Finance leased 1,840 square feet of retail space in Indian Creek Commons, 10625 Pendleton Pike. The tenant was represented by Seth Biggerstaff of Veritas Realty. The landlord, Viking Partners Indian Creek LLC, was represented by Jamison Downs and Kyle Hughes of Veritas Realty.
-Starbucks leased 1,803 square feet at 13844 Olivia Way, Fishers. The tenant was represented by Kyle Hughes of Veritas Realty. The landlord, Crown Property Management IV LLC, was represented by Paul Gold of Echo Retail.
-Flaherty & Collins Inc. leased 1,800 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle. The tenant represented itself.
-Haffley Taylor & Co. leased 1,703 square feet at 8900 Keystone Crossing. The tenant was represented by James Clark of Jones Lang LaSalle. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.
-Jet’s Pizza leased 1,600 square feet in Shadeland Crossing Shopppes, 7538 N. Shadeland Ave. The tenant was represented by Kyle Hughes of Veritas Realty. The landlord, Glendale Partners of Shadeland Shoppes LLC, was represented by Paul Rogozinski of Veritas Realty.
-Goodwill Industries of Central Indiana Inc. leased 1,600 square feet in Lantern Crossing Shopping Center, 8960 E. 96th St., Fishers. The tenant was represented by Bill French of Cassidy Turley. The landlord, Glendale Partners of Michigan Road LLC, was represented by Paul Rogozinski and Kyle Hughes of Veritas Realty.
The Indianapolis grocery market is about to become even more competitive, as discount giant Wal-Mart embarks on a strategy to offer consumers a store design much cozier than its cavernous supercenters.
Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13. The following is an unedited transcript of the discussion.
Construction fencing is up and trees are coming down in front of Fishers Town Hall in preparation for next month’s groundbreaking on The Depot at Nickel Plate, a mixed-use project that officials hope will launch a wave of downtown redevelopment.
The downtown rental market is booming, but is a slowdown coming?
City officials are quietly trying to orchestrate what would be a major coup: Landing Cummins as an office anchor for a second phase of redevelopment on the former home of Market Square Arena.
Incentive deals are on the table to keep two high-potential businesses in Fishers, and the town is poised to pull the trigger on redevelopment of the Fishers Train Station property—where one of the firms could occupy third-floor office space.
The proposed Market Square Tower—if it’s built as planned at 28 stories and 370 feet—will be one of the 10 tallest buildings in Indianapolis.
The growth of Carmel’s Meridian Street office corridor wasn’t a happy accident. It was city planning. Last month’s Hamilton County Leadership Academy session provided an up-close look at planning and development in the fast-growing suburbs.
A high-profile local developer has bought the Illinois Building and is considering offers to convert the downtown landmark into a boutique hotel that could be the city’s first five-star lodge.
