Bill Ehret, who co-founded the largest commercial real estate brokerage in Indianapolis, has left the company to open a local office for global firm Avison Young Inc.
A local developer has purchased a vacant 12-story office building east of Monument Circle downtown and is embarking on $7 million renovation to return the property to its former prominence.
A downtown office broker who participated in IBJ's annual Commercial Real Estate & Construction Power Breakfast said office tenants are seeking building amenities that jibe with their companies' culture.
Regus Group plc, which has other locations in the Indianapolis area, has taken more than 10,000 square feet downtown to open its latest flex-office center, where business owners can rent space by the day, week or month.
HDG Mansur has divulged in court documents that it’s the target of a federal criminal probe for allegedly skimming millions of dollars from a client.
Sam Zell’s Equity Group Investments would step in at Chase Tower and PNC Center, replacing a firm accused of conflicts of interest and underperformance.
The vacant, 14,500-square-foot property in the heart of the city has been purchased by a local home-remodeling company, which plans to occupy half the building and lease the rest.
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.
Scott Lindenberg and Thomas Willey want to replace two rental homes they own just north of Kessler Boulevard with a 5,700-square-foot, two-story office building.
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.
The buyer, Equus Capital Partners, has made a habit of purchasing large-scale, Class A office properties on the north side of the city.
They plan to spend $14 million to build the 542,000-square-foot warehouse on 33 acres on the city’s west side. One condition of the tax abatement is finding a user that would create at least 50 jobs by 2018.