Gun club building, parking lot fetch $380,000 at auction
The historic, 8,000-square-foot Gatling Gun Club building sold for $250,000 and the 19,000-square-foot parking lot went for $130,000, to two separate bidders.
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Feds require Simon to sell outlet centers
The U.S. Federal Trade Commission said it is requiring Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, to sell outlets in a settlement related to the $2.3M purchase of Prime Outlets Acquisition Co.
Gatling Gun Club building set for auction
The historic structure at 709 N. Illinois St., along with a nearby parking lot, could be sold Wednesday afternoon. Declining membership and rising costs led the private club to seek a sale of the 160-year-old building.
Simon rival General Growth exits Chapter 11
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
Redevelopment planned for vacant car dealership
The 2.5-acre property might be retrofitted by late spring for fast-food, retail and possibly medical office users.
City’s Conrad hotel investment starts to pay off for taxpayers
The city put up $25 million for the hotel, restaurant and condo development at the corner of Washington and Illinois streets, including $3.75 million in exchange for the economic equivalent of an 8-percent stake.
Kite Realty improves third-quarter results
Indianapolis-based Kite Realty Group Trust improved its financial performance in the third quarter, reporting funds from operations of $7.8 million, up from $2.8 million in the same period last year despite a slight dip in revenue.
Part of City Market renovation project put on hold
City planners have downsized their renovation plans because project bids came in too high to meet the $2.7 million budget.
Rock Bottom Brewery tries to hang onto downtown lease
Downtown landlord John Goodman has rejected Rock Bottom Brewery’s attempt to renew its lease for five more years. The restaurant has occupied 14,600 square feet at 10 W. Washington St. since June 1, 1996.
Election Board agrees to lease former Marsh store
The Marion County Election Board has agreed to lease about 41,000 square feet in a former Marsh store along East Washington Street for an election services center.
Simon’s quarterly results slip, but profit, revenue rise
Simon Property Group Inc., the largest U.S. shopping-mall owner, said third-quarter profit declined from a year ago after the company recorded an expense to buy back debt.
Anderson makes headway in disposing of former GM sites
The city of Anderson is nearing a milestone in its effort to find new uses for numerous former General Motors sites that have been in its possession since 2006.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Plans for Kroger-anchored center in west Carmel fall through
The grocer might reconsider the Altum Garden’s site if economic variables change.
Duke Realty improves third-quarter performance
Duke Realty Corp. had its best leasing quarter in three years and boosted overall occupancy to nearly 90 percent, helping the company post a profit for the fiscal period ended Sept. 30.
Farmland sales go flat in suburban Indianapolis
The real estate bust and a drought in transactions make values all but impossible to gauge.
Owner of city apartment complex files Chapter 11
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
Greenfield apartment market heats up with sales, development activity
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
Black-lit mini-golf course opens on Circle Centre’s fourth floor
Wichita, Kan.-based Opry GlowGolf LLC, which operates 20 similar courses around the country, took 6,500 square feet just up the escalator from the food court.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.