Insurance agency revives plans for downtown building
McGowan Insurance Group plans to build a $2.75 million, 19,000-square-foot building at 355 Indiana Avenue.
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Retail REIT profits may slip on store bankruptcies
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
Simon CEO compensation jumps to $24.6 million
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
Bank seeks foreclosure on two strip centers
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city’s northwest side and Lakewood Shops on the northeast side.
UIndy to add dorm for upperclassmen
With enrollment surging in recent years, the University of Indianapolis finds itself needing new dorm space. The private college will build a $10 million, 200-student residence hall on the south edge of its campus.
Condo sales lag in hot downtown apartment market
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
Meridian Street buildings to get facelift
A not-for-profit is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into specialized affordable housing.
City sells North of South bonds, locks in 5.2-percent rate
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
Whitestown interchange lands $8M travel plaza
A growing distribution hub anchored by Amazon.com and MedcoHealth Solutions along Interstate 65 in Boone County has inspired plans for an $8 million truck stop and travel plaza.
IU Health cancels $73M project, acquires Gateway Plaza
Indiana University Health has canceled its plans for a $73 million administrative office building at 16th Street and Capitol Avenue and has instead purchased the Gateway Plaza tower at 10th and Illinois streets.
Colts-themed restaurant in works in betting parlor space
A South Florida restaurateur has plans to open a Indianapolis Colts-themed restaurant in Claypool Court, a retail and hotel center near Circle Centre mall downtown.
Altum’s staying put at current west Carmel location
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn’t found a buyer. Kroger nixed a deal to buy its property last fall.
Minneapolis firm buys Fishers business park
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
Rolls-Royce gives downtown office market a bounce
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
Northeast-side office building falls into foreclosure
The 83,653-square-foot office building at 6666 E. 75th St. near Binford Boulevard and Interstate 465, is known as Heritage Park II. It is only 55-percent occupied.
Retail/office building planned for site at Fort Ben
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.
Indianapolis couple offers seniors a senior housing alternative
Unusual home on south side has a dozen bedrooms for folks who need to give up their own homes.
Another northwest-side apartment complex faces foreclosure
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
Office/retail building planned for Fort Ben
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge as it works toward breaking ground this year on what it expects will be a 45,000-square-foot building geared toward retail and office tenants.
Virginia not-for-profit suing Duke Realty for $30M
Military think tank CNA claims Duke Realty breached its obligations as landlord by selling land in Alexandria to the Department of Defense, which plans to build a bomb-inspection facility on the site.