Oaktree Apartments demolition order affirmed by appeals court
Oaktree Apartments, a blighted 19-acre property at the southeast corner of 42nd Street and Post Road with 336 apartment units, has been vacant since 2014.
Commercial Real Estate
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IPS could shed more property to cut costs, boost efficiency
The district next month plans to issue a request for proposals for a comprehensive study of all 71 of its schools and other buildings.
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Should this building be saved?
Historic preservationists and midtown neighborhood leaders don’t want to lose the Drake apartment building that its owner, The Children’s Museum of Indianapolis, plans to raze.
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Kite Realty Group sells off 14 properties for $415 million
The divestitures are part of what the company calls Project Focus, a previously-announced project to sell off non-core assets and pay down debt.
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Target no longer eyeing Circle Centre for downtown store, sources say
With Target out of the picture, the ground floor of the former Carson’s space in Circle Centre will be marketed to multiple retail, restaurant and entertainment tenants, sources said.
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Articles
Greenwood seeks redevelopment proposals for key downtown site
The city sees redevelopment of a former middle school property as the linchpin in efforts to revitalize its downtown.
Partners in Tru by Hilton hotel project file suit, allege unpaid development fees
The lawsuit says the men reached an oral agreement in late May 2017 to split the anticipated $1 million development fee evenly, four ways.
Scannell planning to build $14.5M distribution facility for PepsiCo
The 200,000-square-foot southeast-side project would be constructed for PepsiCo subsidiary P-America LLC, which has multiple facilities around Indianapolis.
UPDATE: Children’s Museum to demolish former apartment, Salvation Army buildings
A plan to demolish the 91-year-old Drake apartment building and former divisional Salvation Army headquarters will require zoning approval, the city said Wednesday.
Owners of McCordsville winery buy downtown Indianapolis buildings
The Cook family is holding its cards close to its vest, saying only that it’s “excited to expand operations of (its) businesses to the downtown Indianapolis territory.”
‘Elevator Hill,’ former Angie’s List campus, on the rise
The owners of the 18-acre former Angie’s List campus just east of downtown are relying on a promise of lower rent, connectivity with downtown, and the potential for future nearby development to draw tenants.
Sale of Carmel senior community a big win for residents owed millions
The Barrington, which began hemorrhaging money soon after opening in 2013, is being acquired by Indianapolis-based Prairie Landing Community Inc. for $61 million.
Local heavy machinery rental firm expanding onto west-side Kmart parcel
MacAllister Machinery’s current operations along West Washington Street span about 6.5 acres, with the purchase of the Kmart parcel next door adding another 8 acres.
Ball State moving local operations to east-side Angie’s List site
Ball State is consolidating operations it had at Meridian Centre and at the Platform at City Market into a building on Pine Street, in the block between East Washington and Market streets.
Developers team up on $12.5M apartment project on near-north side
A north-side community group and a locally based development company are partnering on the two-building project slated for the southeast corner of Illinois and 22nd streets.
Real estate company sues law firm over HHGregg property deal gone awry
A Carmel-based plaintiff has filed a lawsuit against Krieg DeVault, alleging the Indianapolis-based law firm’s failure to file a property deed in 2003 in a transaction involving defunct retailer HHGregg could now cost the real estate company millions of dollars.
Ball State’s downtown branch on the move; bank branch stepping in
Ball State University has vacated its Indianapolis Center at the corner of South Meridian and East Maryland streets, where it has been for 13 years. A bank that’s been embroiled in a legal battle with its landlord is making plans to move its downtown branch to the space.
What’s next for Simon Property Group’s sagging stock price?
The company’s shares—like those of many in retail real estate—are out of favor, as investors wring their hands over retail bankruptcies and the long-term impact of e-commerce.
Massive Keystone Crossing office park sold to out-of-state partnership
The 1 million-square-foot, six-building office campus adjacent to the Fashion Mall at Keystone sold this week in a deal estimated by local real estate experts to exceed $105 million and possibly much more.
Industrial park planned for 167-acre Whiteland site by I-65
A Kansas City, Missouri-based developer intends to provide a wide variety of spaces for logistics, advanced manufacturing and e-commerce users, with five buildings ranging from 168,480 square feet to 1.2 million square feet.
Developer buying homes in Fishers neighborhood for new project
A Carmel-based developer has reached agreements to acquire 14 homes in a neighborhood along busy 116th Street in Fishers and is planning to redevelop the land.
Kite, Milhaus detail plans for 7-building apartment complex in Glendale
The two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
Downtown architecture firm plans move, mixed-use project on College Avenue
Lancer + Beebe LLC has purchased property for a new headquarters on downtown’s eastern edge that also would include retail and residential space.
Zionsville Town Council rejects controversial apartment proposal
The Zionsville Town Council voted 4-3 Monday night to reject a 184-unit apartment project proposed just south of the town’s quaint downtown village. A vote on the project ended in a deadlock a month ago.