Local elevator service firm bought by German company
The Indianapolis elevator repair and installation company has been acquired by ThyssenKrupp AG. Amco Elevator was founded in 1965 and had been locally owned until the purchase.
Commercial Real Estate
Articles
$30M Keystone mixed-use project seeks city approval
Hendricks Commercial Properties wants to build a five-story, L-shaped building with more than 36,000 square feet of ground-level retail space and 130 high-end apartments on the upper floors.
Bales partner pleads guilty in deal with prosecutors
Indianapolis attorney and developer Paul J. Page has agreed to cooperate with federal prosecutors in an investigation that targets former Marion County Prosecutor Carl Brizzi.
Fortune’s death puts 14 West building up for grabs
A historic brick building long used as a restaurant and hotel suites next door to Circle Centre mall is going up for sale for the first time in almost a decade, with an expected asking price of $4 million.
Investor: Kroger missed chance to buy ‘linchpin’ property
Owner of real estate near 16th and Central says grocery chain showed little interest, but Kroger says it still wants property to make way for new downtown store.
Developer loses fraud appeal
The Indiana Court of Appeals affirmed Christopher White’s 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
Former Lifestyle gym building target of foreclosure
The owner of the building at 4225 E. 82nd St. owes $4.9 million on a $7.4 million loan, according to the suit. The tenant, Lifestyle Family Fitness, closed the location in November 2011.
2012 NEWSMAKER: CEO keeps Simon stock surging
If there were an MVP for local CEOs, David Simon would again find himself at or near the top of the list in 2012.
Kite continues Southeast push with $37.3M in acquisitions
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
Irvington groups save landmark from demolition
The former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood. About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
25-acre retail project aims to hook grocery
Developers are moving forward on plans for a 25-acre, grocery-anchored redevelopment in the Highland-Kessler neighborhood after winning city zoning approval this month.
Judge: Indiana districts can sell schools despite law
A judge has ruled that two northeastern Indiana school districts can sell vacant schools, bypassing a state law requiring them to wait four years in case a charter school wanted to claim the buildings.
Developer close to starting project at 116th, Springmill
Gershman Brown Crowley Inc. is in the process of getting design approval from the city of Carmel for a 9,600-square-foot retail building and a 13,200-square-foot CVS pharmacy.
Buyer of vacant Connersville factory gets more time
Officials of an eastern Indiana city are giving the potential buyer of a large vacant auto parts factory more time to close on the purchase.
Pendleton turns to past to revitalize its downtown
The town 25 miles northeast of Indianapolis was approved for the state’s branch of Main Street, a project of the National Trust for Historic Preservation, aimed at helping communities revitalize their downtowns and neighborhood commercial districts.
Analysis: Simon factions make peace as tax hike looms
Widow Bren Simon and her stepchildren finally managed to settle a long legal battle over the estate of mall magnate Melvin Simon. The goal that appears to have united the survivors: Reducing Uncle Sam’s take of a fortune that has swelled to nearly $3 billion.
Simon’s Rushmore Mall loan sent to servicer, Fitch says
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
Settlement ends bitter battle over Mel Simon estate
A long, contentious family battle over the $2 billion estate of the late shopping mall tycoon Melvin Simon has ended with a confidential settlement.
Pedcor to start second phase of Carmel’s City Center
The Nash, a three-story, $10 million mixed-use building, is to be built just south of City Center on the west side of Rangeline Road.
Auction of Charlestown family farm tops $1 million
The auction of one of the oldest remaining family farms in southern Indiana was watched closely by farm and preservation advocates.