Simon Property holds deal talks with Taubman, sources say
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
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Simon Property’s fourth-quarter performance exceeds expectations
The Indianapolis-based shopping mall giant topped analyst predictions for funds from operations and revenue in the latest quarter.
Judge orders mediation in fight between city, Ambrose over Waterside project
Marion Superior Court Judge Timothy Oakes said he does not believe the court system was the correct arena for the dispute, which he said is more of a business conflict than a legal matter.
Developer plans 384-unit apartment complex as part of 137-acre south-side project
Locally-based Sheehan Development is seeking approval to rezone land on the northwest corner of South Arlington Avenue and East County Line Road—directly east of Interstate 65—for a project with multifamily, commercial and light industrial uses.
Litz & Eaton sells three stalled properties to other developers
Indianapolis-based development firm Litz & Eaton Investments LLC—whose principals are entangled in several legal battles as part of a messy split—sold the properties to other companies who plan to move forward with developing the sites.
With restaurateur Brown out, Oesterle seeks new tenant for old 38th Street bank building
Local restaurateur Neal Brown has scrapped plans to open what he had planned to call Midtown Brasserie in a 73-year-old art deco building at 215 E. 38th St.
Bottleworks District project adds three more tenants, including fish-and-chips shop
The Harbour, YogaSix and Witch Hazel Salon will join a growing list of tenants for the first phase of the 12-acre, $300 million mixed-use development at 850 Massachusetts Ave., officials said.
Goodwill lands building donation for east-side Excel Center
Longtime commercial real estate executive Gene Zink has donated a 20,298-square-foot building at 3919 Meadows Drive to Goodwill. The Excel Center program has been leasing the 59-year-old former Bible college building near Rural and 38th streets since July 2011.
Bru Burger Bar picks Keystone Crossing site for 11th location
Plans call for the gourmet burger restaurant to occupy 4,855 square feet on the ground floor of a new office building, with indoor seating for up to 135 people and additional patio seating.
Tennessee company seeks to buy 20-acre Celadon site
If other bidders emerge for the property, an auction will be held Jan. 22 at the New York City office of Celadon’s bankruptcy counsel, DLA Piper LLP.
UPDATE: Church buys former Marsh in Broad Ripple for $7.6M, plans Midtown campus
The sale of the 6.6-acre property included the 57,000-square-foot store on Keystone Avenue. Traders Point Christian Church plans to create an 800-seat auditorium and spaces for children and teens.
Assembly Biosciences moves HQ from Carmel to California
The eight-year-old biotech startup is developing treatments for gastrointestinal disorders, and last year hired a new CEO. It’s unclear how many employees remain in Indiana, or how much longer the company will keep a local office.
Original Circle Centre tenant New York & Co. set to close
The closure will leave the downtown mall with only a handful of tenants who were part of the shopping center’s 1995 opening day store lineup.
Bankrupt Celadon plans to sell 102-acre campus
Most of Celadon’s real estate holdings in Indianapolis are on the east side, where available industrial land is in short supply. So, observers say, the anticipated divestiture should attract plenty of attention.
2019 YEAR IN REVIEW: Ambrose pulls out of GM stamping plant project
Ambrose had detailed plans in 2018 for a $1.4 billion, mixed-use development called Waterside—and said construction would start in 2019. But on Sept. 27, Ambrose said it planned to reposition its business and move away from mixed-use and office projects, including Waterside.
Onyx+East, storage company plan new development in Lockerbie
Onyx+East has partnered with Extra Space Storage to redevelop the block at the southeast corner of North and Fulton streets with new residences and a six-story storage facility. The project will require the demolition a nearly century-old building.
Mudbugs Cajun Cafe closing in Carmel after nearly 13 years
The founders and owners said the restaurant in Carmel’s Arts & Design District will be replaced by a family-owned restaurant that will serve Mediterranean cuisine.
West-side apartment complex sells for $32.8M
The Astoria Park Apartments complex, 3640 Beluga Lane, was bought by Besyata Investment Group, according to the Indianapolis multifamily division of Chicago-based Cushman & Wakefield, which brokered the sale.
Local chocolate maker SoChatti receives city tax breaks
The tax abatement is for equipment the artisanal, vegan chocolate maker and distributor plans to use at at its new, 12,870-square-foot facility in the Circle City Industrial Complex, 1125 Brookside Ave.
Keystone using Carmel’s last available new liquor license to fill former Scotty’s space
The Carmel City Council this week approved building manager Keystone Realty Group’s application to use the city’s final available new three-way liquor license for a restaurant at 110 W. Main St.