Duke Realty sees higher profit on property sales
The Indianapolis-based real estate developer said profit increased amid a revenue decline in the third quarter with the help of property sales totaling $238 million.
Commercial Real Estate
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Indiana Landmarks finds buyer for Glossbrenner Mansion
A local holding company plans to spend $400,000 to refurbish the historic home on North Meridian Street for office space.
Simon raises quarterly dividend, full-year forecast
A strong third quarter prompted Simon to boost its earnings forecast and raise its quarterly dividend to $1.60 per share, a 23.1 percent year-over-year increase.
Zionsville sells property near Creekside Corporate Park
After receiving no bids for projects for the southwest corner at 106th Street and Bennett Parkway, the Zionsville Redevelopment Commission has agreed to sell the acreage to Indianapolis-based Scannell Properties.
Downtown office market strengthening
The downtown submarket recorded its strongest quarter since late 2011 by absorbing about 110,500 square feet of space, which lowered vacancy to 18.8 percent, CBRE statistics show.
Rising occupancies spur downtown-hotel building boom
Hotel developers emboldened by downtown’s escalating occupancy rate are poised to bring about 800 more rooms to the market.
Embassy Suites, restaurants part of $35M Noblesville project
A seven- to eight-story hotel and 20,000-square-foot conference center are in the works for a $35 million mixed-use development just off exit 210 of Interstate 69 in Noblesville.
City block in Fountain Square on the market
The seven parcels on Prospect Street, which are available for a total of $1.5 million, could attract the area's next big apartment development.
Salesforce expanding downtown, seeking big block of space
Salesforce.com appears to have scrapped plans to build its own downtown headquarters building and instead is seeking a huge block of space in an office tower to satisfy its aggressive growth plans.
Irvington on the upswing with efforts to bolster commercial growth
Grassroots efforts by local residents have meant a boost in the number of restaurants and retailers in the historic Indianapolis neighborhood, which was once considered a suburb.
After final service, Cumberland church awaits likely demolition
The congregation of St. John United Church of Christ in Cumberland has held its last service at the historic structure and is moving to temporary space. After a battle with town officials over the fate of the church building, leaders say they likely will demolish it.
Mall owner that spurned Simon takeover makes $2.3B deal
Macerich Co. has agreed to sell minority stakes in eight U.S. malls for $2.3 billion to Singapore’s GIC Pte and property investor Heitman LLC.
Shelbyville firm pays $8.6M for North Meridian office park
Evergreen Investment Corp. bought the four-building Waterplace Park from Indianapolis-based Keystone Realty Group, which purchased the property out of receivership in January 2014.
$2M revival planned for near-north apartment building
Two local not-for-profits have partnered to buy a dilapidated apartment building along the Meridian Street corridor south of 38th Street that was vacated last November due to health and safety concerns.
The Interview Issue: Steve Pittman
The Hamilton County developer says real estate is a “very competitive” and “very entrepreneurial” pursuit.
Airport to auction 320 acres of land for development
The land, which the airport authority said it no longer needs for aviation uses, will be sold in tracts to enable the largest possible number of potential buyers to bid.
Business lunch spots to savor
There’s no shortage of places to have a great lunch in central Indiana. But where do you go to close the big deal? IBJ asked locals where they like to go when it’s all on the line.
DTZ switch to Cushman sows market confusion
Rival brokerage Summit Realty Group has been using the Cushman name through its participation in the Cushman alliance. But it has agreed to terminate that affiliation.
Transcript: IBJ Commercial Real Estate and Construction Power Breakfast
Indianapolis Business Journal gathered leaders in the state’s commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 10.
Simon proposing major Circle Centre revamp
Simon Property Group Inc. is proposing an estimated $20 million in improvements to Circle Centre mall, which spurred a downtown renaissance when it opened 20 years ago this month but now is showing signs of struggle.