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.
Commercial Real Estate
Articles
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.
Zoo land deal for more parking sets table for expansion
The Indianapolis Zoo’s landlocked grounds prevent it from expanding. But leaders think they have found a solution—by joining the ownership group that wants to build an outdoor concert venue on the former General Motors stamping plant site across West Washington Street.
Hotel at Grand Park could be six stories with up to 225 beds
Westfield asked for proposals for a “lodging solution” on 5.26 acres of city-owned property immediately to the west of the future indoor soccer facility on 191st Street. Now officials are negotiating with bidder Jonathan Byrd’s, which offered a plan for a 180-bed hotel.
Cummins’ $30M divisional HQ will make statement
The building under construction on the former Market Square Arena site will be modern, with a calibrated glass facade and abundant green space.
Historic downtown office building sold for $9 million
Minneapolis-based Onward Investors LLC has purchased the 93-year-old building on East Washington Street and is planning a major renovation. The new owner hopes to attract a restaurant to the first floor.
Dental claims firm expands into former Gerdt store in Southport
Renaissance Electronic Services plans to spend $3 million to renovate more than half of the 66,000-square-foot building that once housed Gerdt Furniture's flagship store.
City to consider selling $75M in bonds for 16 Tech project
The Central Indiana Corporate Partnership wants the city to improve streets, walkways and other infrastructure around the 170-acre project north of the IUPUI campus, designed to attract high-tech businesses and workers.
All property tax bills could jump if retailers win appeals
Uncertainty still looms over how much retail assessment appeals could reduce revenue for local governments, libraries and schools or whether they’ll shift costs to other taxpayers, including businesses and homeowners.
New tech startup hub to open in Carmel
Presidents of two Carmel-based companies are teaming up to offer co-working space to local startups, particularly those in software and technology.
Carmel’s $100M Legacy attracting retail projects
Since Virginia-based Falcon’s Nest purchased the 400-acre development in 2011, residential construction has slowly been increasing. Now, some commercial development is beginning to follow.
Preservation group delays action on project with ‘digital canvas’
Members of the Indianapolis Historic Preservation Commission say they postponed a vote on the Mass Ave project at the request of City-County Council members who argue the building’s massive screen could run afoul of billboard rules. Commission members also questioned the building’s design and even its bold colors.
Historic downtown apartment building on the block
Summit Realty Group is accepting offers until Oct. 1 on the 23-unit Janus Lofts at 240 S. Meridian St. The building was redeveloped in 2003 by developer Lee Alig, who is facing numerous charges of securities fraud.
Software startup Tenant Tracker hires first leader
Local technology and real estate veteran Keith Kleinmaier will lead the firm as it attempts to become a leader in the business of tracking retail tenant activity.
County assessors may push for stricter big-box tax laws
County assessors say a new law didn’t go far enough to protect counties from losing out on tax revenue from retailers in search of lower tax bills.
Zionsville parcels may lure Michigan Road development projects
Commercial projects are starting to stake claims on open land along the Zionsville portion of Michigan Road, catching up with the flurry of mostly retail development that’s already occurred along the Carmel portion of the roadway.
Broad Ripple jeweler spending $3M to redevelop downtown building
Nick Blum bought a vacant, three-story building south of Massachusetts Avenue and plans to move his Blumlux boutique there. The project will include luxury apartments and space for office users.
Pacers receive CIB approval for $50M practice facility
The five-story practice facility across the street from Bankers Life Fieldhouse would contain a gymnasium and offices for basketball operations and Pacers Sports & Entertainment.
Hotel, restaurant slated next to Ironworks on Keystone
The firm behind the Ironworks apartment-and-retail complex at 86th Street and Keystone Avenue now intends to build a five-story, 120-room hotel next door.
$50M mixed-use project on Mass Ave ready to move forward
Montage on Mass will feature 236 apartment units, 36,000 square feet of retail, two levels of underground parking and a giant three-story, electronic-mesh art display.