Developers propose $72M mixed-use project in Noblesville
The proposed project includes 40,000 square feet of commercial and retail space, townhomes, an event lawn space, a park and a pond overlook.
Commercial Real Estate
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Penske buys key parcel across from Speedway with plans to rethink track’s ‘front door’
The acquisition across from the Indianapolis Motor Speedway’s main entrance on 16th Street gives track officials a large swath of contiguous land for reimagining the corridor.
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Sportsman’s Warehouse among new tenants at Brownsburg retail center
A trio of “junior anchor” stores will join a recently opened Kroger at the renovated Brownsburg Square retail center, where a Kmart closed in 2017.
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Developer seeking incentives for $12.5M revamp of Mass Ave building
Landmark formally acquired the building for $4.6 million in April and has already started demolition work inside the structure.
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Duke Realty rejects $24B Prologis acquisition bid, deeming it ‘insufficient’
Prologis, one of the world’s largest real estate investment trusts, said it has been trying to acquire Indianapolis-based Duke since November. Duke said in a written statement issued Wednesday that those buyout efforts simply haven’t been good enough.
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Articles
Hundreds of apartments, townhomes proposed in southeast Indy by S.C.-based firm
The complex at 4822 E. Edgewood Ave. would consist of 280 apartments and 96 townhomes, as well as four commercial outlots. But the nearly 20-acre footprint needs to be rezoned.
DMD recommends approval for controversial $61M Willows project
The Indianapolis Department of Metropolitan Development on Thursday said the redevelopment of The Willows Event Center property north of Broad Ripple into more than 250 apartments and town homes should be permitted to move forward.
Apartments added to hotel proposal on south side of downtown
The development team behind a hotel planned for a parcel across from Shapiro’s Delicatessen in downtown Indianapolis is adding about 60 apartments to the mix, as well as a rooftop restaurant.
Prologis offers to acquire Duke Realty for nearly $24 billion
In a public letter, Prologis CEO and co-founder Hamid Moghadam said his San Francisco-based company has been trying to acquire Indianapolis-based Duke quietly without luck since late November and decided to make the effort public.
Equestrian exhibition center, high-end home development proposed in Westfield
Plans for the development include a 69-acre equestrian exhibition center and 25 or so custom home lots priced at $1.2 million and up.
MDC rejects rezoning effort for $40M residential project on city’s south side
The city’s Metropolitan Development Commission on Wednesday voted 6-0 against a recommendation for Homestead Development LLC’s rezoning request for 13.6 acres at 7525 McFarland Blvd. for more than 300 residential units.
Developer planning $40 million in apartment projects near Southport
The plan by Homestead Development consists of two components. The first would be a single apartment building for individuals age 55 or older. The other would be an eight-building complex containing market-rate apartments.
Herb Simon-backed group proposes $250M two-tower project across from fieldhouse
The proposed downtown development at 230 S. Pennsylvania St. calls for the demolition of a century-old building and the construction of two high rises, including a 26-story apartment tower.
CORRECTED: Roche gets city’s OK to project messages on side of north-side HQ building
In a statement to IBJ, Roche said it hopes to display “supportive and inspiring messages” visible from I-69 as part of a new corporate initiative.
Benjamin Blair: Indianapolis property taxes can finally reflect pandemic
The pandemic has affected commercial real estate but owners of property in Marion County have not yet seen changes on their property tax bill that reflect those impacts.
Warehouse growth heads south to Franklin
More warehouses and distribution centers have begun popping up near the Interstate 65 exit in Franklin, as central Indiana’s industrial boom continues to fan farther out from Indianapolis.
Apartments planned for 110-year-old downtown office building
The Wulsin Building at 222 E. Ohio St. is expected to be acquired by an investment group later this spring. The buyers plan to spend up to $6 million to convert the eight-story structure to market-rate apartments.
Office building, 2.45-acre lot up for sale in downtown’s evolving southeast quadrant
The 10-story, 66,220-square-foot building and its 216-space parking lot are adjacent to the site of the Indianapolis Downtown Heliport, which is slated for eventual redevelopment.
Developers propose $324M in apartment developments in Carmel
Four apartment-dominated development projects totaling $324 million are in the works for Carmel’s central core. The projects include more than 1,600 parking spaces, for-sale condo units and new headquarters for two companies.
Developer plans $32M senior housing project sandwiched between St. Vincent, 86th and Ditch
Indianapolis-based Birge & Held envisions a 160-unit apartment community for seniors of limited means on roughly 3.3 acres at 1621 W. 86th St.
Pacers planning $20M downtown building next to fieldhouse, new plaza
The building would have two levels above ground and one below, with proposed uses including a basement speakeasy-style tavern, a first-floor restaurant and a second-floor event center.
The Pyramids office complex acquired by local developer
The landmark office complex on the north side of Indianapolis has been acquired by local firm KennMar, which plans to update the property with an upgraded facade and other improvements, the buyer announced Monday.
DeHaan estate could see new uses with zoning change
A zoning change would open the door for a number of new uses on the 152-acre property along the White River.
Ball State kicks off plans to revitalize Village district, build performance venue
The university hopes to bolster the declining business-and-culture district by creating a center for theater and dance and green-lighting an Ohio firm to develop a hotel, apartments, retail spots, and spaces for office and research work.