BMO Plaza worker has COVID-19, landlord says
According to an email to companies in the building, the affected tenant has temporarily closed and has hired a janitorial contractor to deeply disinfect its space and nearby common areas.
Commercial Real Estate
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Chicago-based pizza chain Lou Malnati’s coming to north side
The chain’s signature deep-dish pies are renowned in the Chicagoland area, where the company has 56 locations. A private equity firm took an ownership stake in 2016 to spur growth.
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Hogsett closes gyms, entertainment venues and nightclubs—and warns against local travel
The order will be in effect for at least seven days. Hogsett plans to seek permission from the Indianapolis City-County Council on Monday night to extend the order to April 5.
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Owner of prime downtown parking lot considering hotel development
A Peachtree official said the company bought the land for the development opportunity and is now “evaluating our options to potentially build on the lot.”
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Huge cost overruns on Carmel hotel fuel questions about construction costs
The cost of the 122-room, city-backed hotel has swelled to $58.5 million, up from $40 million when the Carmel City Council green-lighted it two years ago. Some councilors have called for an audit to dig into the details.
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Articles
Apartments, homes, hotel in works at Fort Harrison site
Three housing and hotel projects are in the works at the former Fort Benjamin Harrison site in Lawrence, and planners hope these projects will accelerate efforts to redevelop part of the former U.S. Army base.
Growing churches look to retail spaces, office buildings for expansions
The trend toward commercial structures has been driven largely by modern churches’ desire to operate in heavily populated areas, to be closer to pockets of potential members, he said.
IBJ Podcast: These downtown hotel projects appear stalled
Nineteen hotel projects have been announced for downtown. If every one of them opens, they would add 4,203 more rooms to the central district of Indianapolis. But that’s not likely.
IndyCar racing team, engineering firm eye Zionsville for new HQs, 600 jobs
Preliminary plans by an IndyCar racing team and a vehicle engineering company could lead to the first development in Zionsville’s Creekside Corporate Park in years.
Clay Terrace owner planning to add hotel, apartments, office space to property
Washington Prime Group Inc. has filed a request with the city of Carmel to rezone the 577,614-square-foot shopping center at West 146th Street and U.S. 31 to allow for a variety of new uses.
Bloomington-based sub shop closing Indianapolis location
The Indianapolis location of Dagwood’s Deli & Sub Shop, which opened in 2016, is set to close next week.
Tiny Hancock Health embarks on ambitious, long-term growth plan
Over the past two years, Hancock Health has bought 140 acres of empty farmland at the Mount Comfort exit of Interstate 70 for a development it has named Hancock Gateway Park.
UPDATE: Downtown hotel, parking lots sold for $33M to Atlanta firm
Atlanta-based Peachtree Hotel Group bought the Hampton Inn by Hilton at 105 S. Meridian St. and a 50-car parking lot at 102 S. Pennsylvania St.
Kite Realty beats analyst expectations with 4Q performance
The Indianapolis-based real estate investment trust beat Wall Street predictions in two key financial categories in the fourth quarter.
Real estate pros bullish on Diamond Chain site
The planned closing of the 102-year-old factory in the southwestern corner of downtown likely will throw into play a nearly 18-acre site that real estate experts say would be attractive for myriad uses.
Bottleworks’ Phase I could be 80% full when it opens
With its debut just months away, the 12-acre, $300 million Bottleworks District on the north end of Massachusetts Avenue has a majority of its Phase I office and entertainment space and nearly all of its food hall leased.
Bank alleges developer owes nearly $16M for project near airport
The suit, filed Tuesday in Marion Superior Court by Evansville-based Old National Bank, claims Paul Kite and his firm owe the bank $15.8 million.
400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
Town of Speedway announces plans for 25-acre project near I-465
The project is expected to include a 127-room Hampton Inn and conference center, a national grocer, restaurants and retail space, and possibly senior housing and medical offices.
Developer plans eighth floor, 39 more rooms for downtown hotel project
Original plans called for a 99,000-square-foot, seven-story building with 104 Moxy rooms and 102 AC Hotel rooms. The new plan includes 126 Moxy and 119 AC rooms in a structure of just more than 113,000 square feet.
Henke Development Group proposes massive real estate project in Lebanon
Westfield-based Henke Development Group is seeking approval for a 2,000-acre master-planned community with retail stores, apartments, an industrial park, a golf course and thousands of residential units along Interstate 65.
Simon Property holds deal talks with Taubman, sources say
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
Simon Property’s fourth-quarter performance exceeds expectations
The Indianapolis-based shopping mall giant topped analyst predictions for funds from operations and revenue in the latest quarter.
Judge orders mediation in fight between city, Ambrose over Waterside project
Marion Superior Court Judge Timothy Oakes said he does not believe the court system was the correct arena for the dispute, which he said is more of a business conflict than a legal matter.