An effort by the Children’s Museum of Indianapolis’ to overturn the city’s designation of the Drake apartment building as a historic property has been transferred to federal court—even as the organization continues working with city officials on a plan to salvage the building.
IBJ Podcast: What happens to downtown if workers stay remote?
It’s too soon to know for sure how many downtown workers might not be back. But to try to get a handle on the possibilities, host Mason King talks with IBJ real estate reporter Mickey Shuey, JLL’s Adam Broderick and restauranteur Ed Rudisell about the shifting downtown office market and the businesses that depend on it.Read More
Downtown office market set to shift as firms rethink space
A Salesforce decision to permit employees to work remotely even once the pandemic subsides could have long-lasting effects on the downtown office market.Read More
Kite Realty reports better-than-expected 4Q results
Indianapolis-based Kite Realty Group Trust beat analyst expectations with its financial performance in the fourth quarter despite a decline in revenue and funds from operations.Read More
IBJ Podcast: Turner Woodard talks saving the Stutz—and then selling the majority share
Woodard talked to host Mason King about his adventure restoring the Stutz Business and Arts Center, about his decision to sell a majority share in the complex and what the new owners have in store for the buildings.Read More
The new majority owner says it plans to retain the Stutz property’s historic character but isn’t yet revealing details about its plans for the 110-year-old downtown complex.
The sprawling site includes more than 400,000 square feet of office, industrial and showroom space that was vacated after the consumer electronics retailer ceased operations in 2017.
The 86th Street location, the chain’s second Indianapolis-area store, is set to open this spring. Lou Malnati’s confirmed the location last year but until now had not specified when it planned to open.
It’s unclear what the announcement means for Greenleaf’s previously announced plans to build a $310 million plant in Shelbyville.
INCog BioPharma Services has purchased 16 acres of undeveloped land in Fishers for its planned new biopharmaceutical manufacturing facility. The $60 million project has grown in size.
The Tribute and Aloft hotels—both of which were announced before the pandemic began—are among the few downtown lodging projects that are continuing to make progress.
Indianapolis-based Perez Realty Group acquired the 113-acre retail property on Dec. 18 for a yet-undisclosed price.
Memory Ventures, a local media digitization company, is taking over the redevelopment of a former Marsh Supermarket in Fishers. The site previously slated for partial demolition will now be turned into the growing company’s new headquarters.
Kroger, which anchors one end of the Brownsburg Square shopping center, will tear down the former Kmart at the other end of the plaza and build a new grocery store there. Plans call for several small retailers to backfill the existing Kroger store once the grocer moves to the new spot.
Chicago-based JLL Income Property Trust closed on the purchase of the 440,000-square-foot and 280,000-square-foot buildings on Dec. 11.
Investors have poured money into industrial properties in 2020, spending more on U.S. warehouses than office buildings for the first time as social-distancing pushes even more consumers to e-commerce.
More than half of U.S. employees currently working from home say they’d like to keep their remote arrangements beyond the pandemic, according to a Pew Research Center survey released Wednesday.
Big tenants such as Rolls-Royce and Salesforce say they’re reevaluating their space needs as most of their local employees work remotely. Real estate experts say they’re unlikely to make decisions until after the pandemic subsides.
The longtime Meridian-Kessler sports bar and restaurant that announced last month it was closing “until further notice” is at the center of an ongoing legal dispute between the original owner and the new owner, who now wants out of the deal to buy the business.
The shopping center—the 10th-largest in the Indianapolis area, at 600,200 square feet—was repossessed by its lender in October, after Memphis-based owner Poag Shopping Centers LLC defaulted on a $29.9 million loan balance in June. It’s the second foreclosure for the property, which used to be called Metropolis.
Beyond the public company’s $100 million headquarters campus, city and state leaders expect 26 acres to be used for an expansion of White River State Park and new projects potentially with residential, retail and office uses.
According to Ambrose, the sale resolves the year-long legal dispute between the developer and the city of Indianapolis that started after the company withdrew from the $1.4 billion Waterside development agreement involving the 103-acre property west of downtown.