Duke poised to buy South Florida portfolio
The purchase of the $500 million portfolio of industrial and office properties would continue Duke’s recent push into the South Florida market.
Commercial Real Estate
Articles
Developer says Broad Ripple hotel will have ‘green’ elements
Developer Debra Stolen Hasbrook found the site at 6520 Westfield Boulevard while running on the Monon Trail.
St. Francis Hospital project targets Greenwood’s growth
The $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000 to 2009.
UPDATE: City Market has tentative deal with longtime tenant
City Market operators have reached a tentative deal to settle a dispute with Grecian Garden’s owners after alleging the eatery was late on its rent payments for several months. Details of the agreement were not disclosed.
North of South financing clears first hurdle
The Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
Feds sue developer Premier over raid on retirement accounts
Executives of defunct Indianapolis developer Premier Properties USA Inc. are negotiating to settle a lawsuit brought by the U.S. Department of Labor that claims the company raided employee retirement accounts in a last-ditch bid to save itself in early 2008.
Kite plans to raise $65 million in stock offering
The Indianapolis-based real estate investment trust said it will sell 2.6 million shares of preferred stock at $25 each to repay debt, purchase property and use for general corporate purposes.
Historic downtown building poised for overhaul
DLZ Indiana closed in September on the century-old building at 157 E. Maryland St. and plans to spend nearly $2.3 million renovating it.
Possible Simon bid boosts British mall owner’s stock
Shares of Capital Shopping Centres Group Plc, Britain’s biggest mall owner, rose the most since the company went public in 1992 after saying Indianapolis-based Simon Property Group Inc. may offer more than $3.6 billion in cash for the company.
Foreclosure washes away water park plans in Fishers
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
Keystone plans mixed-use project on Madison Avenue
A local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown.
Geist apartment complex sale ends drought of Class A transactions
Grande Reserve at Geist fetched $13.3 million, just shy of the asking price.
Start of downtown North of South project in flux
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
Diversity key to west-side revitalization plan
Over the last few months, a wave of events has given momentum to grass-roots efforts to revive the West 38th Street corridor and its broader neighborhood, which includes Lafayette Square Mall.
Dow AgroSciences moves into new research facility
The division of Dow Chemical has a 15-year lease with Indianapolis-based developer Browning Investments on the two-story building near West 96th Street.
INSIDE DISH: Santorini to return in short order
Owner Taki Sawi received a crash course in getting a restaurant back on its feet after a catastrophic fire on Oct. 11. The Greek eatery is slated to reopen in mid-December.
Simon CEO: Mall owner has ‘firepower’ for deals
Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said Tuesday.
Trail Side project faces another hurdle
A $10 million apartment and retail building planned for 875 Massachusetts Ave. was supposed to have broken ground by now. But difficulty in closing the sale of tax credits that will be used to finance the project could cause the deal to unravel.
Rolls-Royce eyeing former Lilly campus downtown
If the manufacturer and drugmaker can come to an agreement, Rolls-Royce would lease the space formerly occupied by Eli Lilly and Co. and relocate some of its 2,500 employees to the downtown campus on South Meridian Street. Discussions are expected to last several months.
Carmel strip mall fire starts in doughnut shop
The fire began at a Dunkin’ Donuts shop Thursday morning, spread to a winemaking shop and threatened other businesses.