The acquisition of Hulman & Co. will give Penske Corp. control of about 37% of all the land in Speedway, making the company the town’s single-largest landowner. Roger Penske said he wants to take advantage of that land.
Florida-based Metro Diner closed its Butler location in March. Butler says the lease is still in effect and it’s suing for unpaid rent. Metro has four other Indianapolis-area locations that remain open.
The demise of the Castleton restaurant follows the chain’s sale to a private equity group. Also this week: Kilroy’s, Becker Supply, Nurture, Purse Strings and more.
The undeveloped site between Perry Road and Airtech Parkway is adjacent to the Shops at Perry Crossing and the Plainfield Commons shopping center.
The red-hot Indianapolis industrial real estate sector is nearing all-time records in vacancy, construction and absorption, newly-released market reports obtained by IBJ show.
Turning a former German social club and gym into the offices of a medical claims management organization and international travel insurance company was no small order—especially because the building had to remain more-or-less true to its original form to qualify for the federal Historic Tax Credit program.
Also this week: YUJO Ramen & Boba Tea, Taste of Dubai, Which Wich, Marco’s Pizza, Bovaconti Coffee, State of Grace
Kelli Lawrence had been a principal partner at Indianapolis-based multifamily development firm Cityscape Residential for the past six years.
A 206-room, dual-branded hotel planned for a downtown parking lot won approval Wednesday night from the Indianapolis Historic Preservation Commission.
Ambrose’s withdrawal from Waterside follows other changes at the firm, including the May defection of three senior executives to start Westfield-based Patch Development.
The letter from the city’s corporate council to Ambrose says that to “avoid the delay and expense of a court process, we would welcome the opportunity to begin negotiation acquisition of the property immediately.”
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.
The sandwich shop will move a few blocks away as a developer makes plans to convert the building into a hotel. Also this week: Native Bread, VetIQ and Paco’s Taqueria.
The owner of Pace Air Freight, which specializes in truck transport of pharmaceutical products, is in the process of assembling land it doesn’t already own, including parcels owned by Indianapolis International Airport.
The top two awards were taken by Indianapolis firms KRM Architecture and Haus-Architecture For Modern Lifestyles. CSO Architects won to wards, including honors for its interior design of the new IBJ Media headquarters on Monument Circle.
The city has spent the past several years remediating the former railyard site and marketing it for potential development.
The company, founded last year, offers legal medical consulting and medical product consulting to law firms, life sciences companies, and health and wellness businesses.
To incentivize the development, the Fishers City Council on Monday night voted to waive city fees associated with the project for up to 24 months.
