RELLER: Refinancings likely to undermine prices for commercial real estate
Buyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
Commercial Real Estate
Articles
Fledgling technology park is development bright spot
WestGate@Crane Technology Park is adding office buildings for defense contractors next to the secretive Naval Surface Warfare
Center at Crane.
Premier Properties founder gets home detention for fraud
A judge on Wednesday afternoon sentenced Christopher P. White to one year on home detention and three years of probation in
connection with a $500,000 bad check he wrote last year as he tried to save his real estate development firm, Premier Properties
USA Inc.
Simon exploring bid to purchase rival General Growth
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than
200 regional malls in 44 states.
Locals expect few bright spots in 2010
Senior real estate executives remain pessimistic about the prospects for the Indiana market in 2010, although they see signs
of improvement in the investment and residential sectors. That’s according to a survey of leaders of the local real
estate community that the Urban Land Institute plans to unveil Thursday.
Duke Realty land auction nets $1M; pricier properties go unsold
Locally based Duke Realty Corp. netted more than $1 million during a Tuesday auction of surplus development parcels in Indianapolis,
Fishers, Plainfield and Lebanon.
Duke Realty’s chief operating officer resigns
Indianapolis-based Duke Realty Corp. announced Monday that its chief operating officer will leave the company at the end of
the year.
Van Rooy scoops up troubled complex
Van Rooy Properties plans to spend $5.5 million renovating a 277-unit west side apartment complex that it acquired a month
ago in an unusual deal.
WOODS: Too many contractors misleading prospects
Some contractors, many of whom are desperate to replenish backlogs decimated by the recession, are not telling prospective
clients the whole story about exit strategies.
Bloomington chamber weighs in on chain-store ban
The Greater Bloomington Chamber of Commerce is opposing Mayor Mark Kruzan’s proposal to restrict chain stores and
restaurants downtown.
City Market board sought 3-year closure for redevelopment
Board president says he quit after Indianapolis Mayor Greg Ballard declined proposal to shut down historic landmark until
2013 for major renovation.
Clarian restarts construction on hospital in Fishers
Clarian Health has resumed construction on its Saxony Medical Center in Fishers after an 8-month hiatus, the Indianapolis-based
hospital system announced Friday.
State rejects high bid for 19-acre parcel near downtown
The Indiana Finance Authority declined to sell a 19-acre development parcel between the White River and Fall Creek near downtown Indianapolis after it received only two bids at an auction Thursday.
Simon reports slight improvement in quarterly results
Simon Property Group Inc. reported slightly higher funds from operation for its fiscal third quarter, but FFO fell on a per-share
basis thanks to the company’s issuance of more than 50 million new shares so far this year.
NCAA approves $35M addition to Indianapolis headquarters
The NCAA executive committee on Thursday approved a $35 million addition to the governing body’s headquarters in White River
State Park in Indianapolis.
RCI to become Wyndham Exchange; says Carmel jobs are safe
Despite a swooning economy that has hammered the time-share condominium industry over the last 18 months, Resort Condominiums
International continues to outperform its market. That’s not to say there hasn’t been some pain at
the company formerly headquartered in Carmel.
Marketing a former nerve gas site
Will it be harder to attract businesses to the Newport Chemical Depot than to sell a house where a grisly murder took place?
Duke Realty reports massive third-quarter loss
Big write-downs on raw land and projects under development led to a wide third-quarter loss for Duke Realty Corp.
Center Township seeks redevelopment bids for former YMCA
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down the building
and redeveloping the prime 2-acre site.
With airport hotel stalled, Hendricks County makes its move
Hendricks County’s moves to entice a developer to build a conference hotel in Plainfield could further crimp plans
for
a
hotel attached to the new Indianapolis International Airport terminal.