Indianapolis developer Keystone Group buys former Anthem HQ
The Monument Circle building has been mostly empty since Anthem, now Elevance Health, moved its headquarters to Virginia Avenue in 2018.
Commercial Real Estate
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Pure Development co-founder starts new company following dissolution order
Pure Development, one of central Indiana’s largest commercial development firms, last month was ordered to wind down operations by a judge following a months-long lawsuit between its co-founders.
More upscale apartments planned for former AT&T building downtown, developer says
AT&T’s exit from the building’s top three floors with the expiration of its lease on May 31 clears a path for Keystone Group to add more luxury apartments in the $124 million project.
Judge orders Pure Development to wind down operations
One of central Indiana’s largest commercial development firms will be turned over to a court-appointed receiver in the coming weeks following a legal battle between the co-owners.
Country singer Clayton Anderson says his Indianapolis bars will be lively
After living in Nashville, Tennessee, for more than a decade, Anderson said he’s seen “Music City” thrive because of popular bars in Nashville’s Lower Broadway entertainment district. Now he wants to try to do the same thing in Indianapolis.
Plans moving ahead for dual-branded hotel on south end of downtown Indy
The Avid focuses on price-conscious leisure and business travelers. Candlewood Suites serves extended-stay customers and offers units with kitchens and free laundry.
Q&A with Isaac Bamgbose: ‘There’s definitely a need and a niche in the market that isn’t being met’
His New City Development firm’s first major project, announced in 2022, is a $300 million, 125-acre development called Hobbs Station in Plainfield.
Lawrence mattress maker plans showcase store, retail center in Fort Ben area
Foamcraft says it’s eyeing other locally based tenants for the development ranging from an ice cream shop to a coffee shop to a bakery.
Trump administration creates uncertainty regarding federal office buildings, leases
Brokers representing building owners have generally refrained from discussing the issue publicly, either because of the fluidity of the situation or because their companies carry government leasing contracts.
Coffee-to-cocktails concept taking over Broad Ripple Starbucks location
The move by Thieves, a bar that’s operated since 2020 at 915 Broad Ripple Ave., means doubling its space, broadening its menu and expanding its hours of operations.
Indiana-based Shoe Carnival to convert more stores to Shoe Station brand
Shoe Carnival said it will transition 175 stores to the Shoe Station banner over the next two years, with the first 50 to 75 stores being completed in the first fiscal year.
Bryan Herta Autosport plans to move headquarters to Brownsburg
The company, which has two Indianapolis 500 wins under its belt, plans to invest $2.1 million in upgrading the new facility.
Purdue acquires Indiana Avenue property for campus needs
Purdue University in Indianapolis is continuing to add to its downtown footprint, spending $4.5 million to acquire another property for its growing city campus.
Maven Space to close after relocation plan falls through
Indy Maven Founder Leslie Bailey said in a social media post that unspecified challenges “made it impossible to move forward” with a lease for a new co-working and social hub.
Parkwood Crossing—central Indiana’s largest office park—gets new name
Philadelphia-based Rubenstein Partners has rebranded the office park to reflect its location as an entryway into Carmel.
Overhaul of downtown office complex to bring another new hotel brand to Indy
In addition to Marriott’s Moxy, the owners of downtown’s fourth-largest office complex also have secured a deal for a Bar Louie restaurant on the ground floor.
Devington Plaza’s proposed developer withdraws plans, but still interested in site
The developer behind plans to overhaul the 36-acre Devington Plaza shopping center on the east side of Indianapolis is going back to the drawing board.
IBJ Podcast: Third-gen Indy hotelier on industry ups and downs, $43M Ball State project
Greg Schahet shares financial war stories from moments in the last three decades when it seemed like the hotel industry had turned upside-down.
City staffers seek more details on contentious Devington Plaza revamp, recommend denial of rezoning
The company’s current proposal calls for a two-phase, $100 million overhaul including more than 500 apartments, 35,000 square feet of retail and restaurant space, townhouses and a hotel.
With InterContinental and Aloft now open downtown, what’s next in the hotel pipeline?
More than $1 billion in hotels and associated projects is under construction or set to begin in the next 12 months. Another several hundred million dollars’ worth of investment is under consideration or in the planning stages.