Tired-but-proud school buildings find new missions
More unneeded buildings are slated to be sold off by Indianapolis Public Schools, but creative people have turned other former schools into reuse gems.
Commercial Real Estate
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Hoosier Lottery moving to Meridian Street building
The lottery will move in January to the Buick, a 60,000-square-foot building at 13th and Meridian streets owned by principals of Shiel Sexton Construction.
Harding Dahm drops Grubb & Ellis, strikes merger deal
Harding Dahm & Co., which ranked sixth on IBJ’s most recent list of commercial brokerages, will become Lee & Associates Indianapolis. Terms of the deal were not disclosed.
Fried chicken franchises, Argentine eatery call it quits
Five Popeyes restaurants in Indianapolis owned by one franchisee close down, as does downtown eatery Taste of Tango.
Indiana Supreme Court won’t hear Lee’s Inns dispute
A long-running legal battle among members of the Lee family of North Vernon over the valuation of their hotel chain has come to an end.
Tower manager proposes 4th Artsgarden skywalk
Reit Management & Research LLC made a presentation Wednesday to the Indianapolis Metropolitan Development Commission for its plans to build a pedestrian walkway between Circle Centre mall and PNC Center.
Defendant pleads guilty in $880M fraud case
A Florida man with ties to the founder of Indianapolis-based Williams Realty Group
pleaded guilty Wednesday to running a multistate Ponzi scheme that prosecutors say left investors with up to $100 million in losses.
Canadian company buying 12 Crystal Flash stores
Alimentation Couche-Tard Inc. said on Friday that it expects to complete the acquisition of a dozen Indianapolis stores this month. Couche-Tard is the largest independent convenience store operator in North America.
Simon, former executive settle fraud suit
Mark Palombaro, a former senior vice president of development, will pay the company $766,000, settling a lawsuit that accused him of getting kickbacks on construction contracts.
Fishers shopping center lands new tenants
Kite Realty Group Trust has landed Goodwill, Dollar Tree and Mexico City Grill for a renovation of its Fishers Station shopping center.
Indianapolis’ ‘walkability’ touted to convention planners
Compact downtown is big selling point for sustainable-minded planners.
Leader of local CB Richard Ellis office leaves to work for family business
David Reed is leaving to work for WisselReed Relocations, an Atlas Van Lines moving and storage franchise he started with his brother-in-law, David Wissel, in 2007.
Estridge drops Westfield sports complex, still plans stadium
The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
Lauth revival hinges on judge approving settlement
The deal with financial backer Inland American Real Estate Trust would leave Lauth Group with fewer properties but a more manageable debt load.
Lauth affiliate reaches deal to exit bankruptcy
The once-mighty Indianapolis-based developer laid low by the credit crisis has reached a deal to retain control of most of its properties.
Simon sees improving retail conditions, analyst says
Simon Property Group Inc. said retailers
leasing space in its malls have managed to weather the economic downturn and are already eyeing recovery plans for when the
economy improves.
Property at busy crossroads finally attracts buyer
Environmental and zoning issues had made the property at the southwest corner of Keystone Avenue and Kessler Boulevard difficult
to sell.
Metropolis mall purchased by Israel firms
Aviv Arlon Global Ltd. pays $52 million for shopping center, which was in court-appointed receivership. Former real estate firm Premier
Properties USA Inc. developed Metropolis, with an investment of $160 million.
Industrial market shows strength but faces challenges
About 2.5 million square feet of industrial space is expected to hit the market between now and the end of the year, most
of it in the Plainfield area.
Conrad hotel’s Spa Chakra closes abruptly
Conrad General Manager Greg Tinsley says the hotel plans to reopen the high-end spa by Oct. 1, after receiving
notification Friday that it had closed.