IBJ Podcast: John Stehr, news anchor turned mayor, on tackling one of Zionsville’s hottest issues
Stehr has jumped into the job with a big-picture vision for addressing how to develop the land just south of Zionsville’s gingerbread-like downtown.
Commercial Real Estate
Articles
InterContinental Hotel set to open this fall, bringing downtown another luxury lodging option
The $101 million project at 17 W. Market St. will include 170 rooms and a rooftop bar with views of the Soldiers and Sailors Monument. The opening will come some five years after Keystone first proposed the hotel.
At movie industry convention, leaders say blockbusters alone aren’t enough
2023 was a rollercoaster year for movie theaters. The overall U.S. box office was up 20% from the previous year, but still $2 billion shy of where the business was pre-pandemic.
Industrial developer keeps its focus on Plainfield with 498,000-square-foot Terminus project
Terminus is one of several elements of the $300 million Hobbs Station project, which will include housing, retail and office uses. The CEO of Terminus developer HSA Commercial Real Estate hopes the mix will attract tenants in sophisticated industries such as biotech.
U.S. secures $1.37M settlement for cleanup of toxic south-side commercial property
As part of the resolution, Arconic Corp., Navistar Inc., and Ford Motor Co., agreed to pay the federal government without admission of liability.
Saks Fifth Avenue to close at Keystone amid major redevelopment
Saks will end a 21-year run at The Fashion Mall at Keystone later this year, mall management announced Thursday.
Local developer plans 46-unit apartment project near Goose the Market
A local developer plans to spend more than $12 million to build a trio of walk-up style apartment buildings along Delaware Street, just south of Fall Creek.
Last year was bad for commercial real estate. This year could be worse.
Overall, the discouraging picture has policymakers and economists keeping a close eye on small and midsize banks, which hold about 80 percent of the overall stock of commercial mortgage loans.
Hendricks’ growing reputation led to Circle Centre opportunity
Hendricks Commercial Properties has spent more than $550 million to acquire and redevelop properties across Indianapolis and Carmel since 2013. But the Wisconsin-based firm says it’s just getting started with work it hopes to do here.
Local developers plan 12-story, $100M project along Indiana Avenue
The 1.46-acre project is expected to consist of 262 apartments, a four-story interior parking garage with 323 spaces and nearly 35,500 square feet of retail, office and amenity space.
360 Market Square owner seeks additional investors in tower
360 Market Square is among downtown’s most expensive apartment properties, with an average rent of $2,365 per month.
Zionsville plans 160-acre, $250M development south of historic village
Initial plans for the South Village include about 250 residential units; 500,000 square feet of office space, retail, dining and public plazas; and parks and nature trails.
Much of Pan Am block being demolished to make way for convention center expansion, 40-story hotel
The structures and public spaces being erased from the site include the former Pavilion at Pan Am event center at 201 S. Capitol Ave. and the Pan American Plaza, making way for vertical construction later this spring.
Former HHGregg HQ campus on market as industrial park, lures new-to-Indiana tenants
Indianapolis-based Citimark has already leased about one-quarter of the old appliance retailer’s home at 4151 E. 96th St.—which it acquired in December 2021 for $14 million—to a pair of companies that will use their spaces for showroom, office and warehousing purposes.
Burlington plans department store at downtown’s Claypool Court
A 23,000-square-foot Burlington department store is expected to open this fall in the lower level of Claypool Court in space previously occupied by the Rhythm! Discovery Center.
Florida REIT buys Brownsburg rehab hospital building for $39M
The building housing Community Rehabilitation Hospital West, a 40-bed inpatient rehab facility at 8920 E. 56th St., was bought by Sila Realty Trust Inc., of Tampa, Florida.
Family Leisure planning small-format store at Merchants’ Square in Carmel
The store will be a pilot for a new, smaller-scale format that Family Leisure plans to roll out across central Indiana and potentially in other markets nationwide.
Sun King planning taproom and food hall in downtown Westfield
Members of the Westfield Advisory Plan Commission unanimously approved a development plan for the taproom and food hall on Monday night.
Culinary Dropout restaurant chain to make Midwest debut at Nora Plaza
American comfort food specialist Culinary Dropout launched in Arizona in 2010 and operates 11 locations in five states. The chain is part of Fox Restaurant Concepts, which is owned by The Cheesecake Factory.
Gorton’s Seafood planning $89M production facility in Lebanon
The 110,000-square-foot facility is expected to employ 163 workers by 2029, Boone County and city officials announced Tuesday.