Airport to market 1,200 acres for sale or development
The 1,212 acres slated for disposal are valued at $83 million and could generate annual tax revenue of $1.7 million, according to the airport’s own estimates.
Commercial Real Estate
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Simon discloses stake in shopping-mall owner Macerich
Indianapolis-based Simon Property Group Inc. said it has accumulated a 3.6-percent stake in shopping mall rival Macerich Co. and wants to buy more shares.
Red Cross downsizes HQ ambitions, leaving extra lot
The new Red Cross building on North Meridian Street will be about half the size of what the not-for-profit originally proposed, leaving space for another development on the property.
Old school buildings would get new lives under developer’s plans
TWG Development is converting the former Lawrence Central High School into senior apartments and is seeking tax credits to do the same to schools on College Avenue and Lafayette Road.
Sources: Simon eyeing Anson for outlet mall
The Indianapolis-based mall developer is planning to build on 50 acres near Interstate 65 and Whitestown Parkway in Boone County, sources say, and could have a deal finalized early next year.
Milhaus redeveloping Fletcher Place building for HQ
The apartment developer will spend $2.5 million to rehab the vacant building along Virginia Avenue as part of a project that will include 2,400 square feet of retail space.
More downtown landmarks adding color to nighttime exterior lighting
The top of Market Tower is wearing blue in honor of the Colts, Regions Tower sported a pink wrap last month, and lights are back at the Scottish Rite Cathedral’s tower after a two-year hiatus.
Simon Property stock continues to defy drumbeat of doom
Since David Simon became CEO in 1995, Simon Property shares have posted a total return of 2,150 percent—a dazzling run extending nearly two decades.
Sports complex developer confirms financing woes
A developer that planned to open a $22 million hotel and indoor sports complex in Greenwood has officially suspended those plans after failing to find funding.
Target to close Castleton store
Eleven underperforming locations in all will be eliminated by the Minneapolis-based retailer, it announced late Tuesday.
Washington Prime reports profit in first full quarter
The shopping center company, which was spun off from Simon Property Group Inc. in May, earned $38.8 million, or 21 cents per share, in the third quarter.
Sandor starts to build retail projects again
The locally based strip-center owner and developer is nearing completion of a small retail project near 106th and Michigan Road on the western edge of Carmel. It’s the company’s first retail project since the recession.
Kite reports quarterly loss on acquisition costs
The real estate company’s loss of $16.4 million in the third quarter was due to costs from its $1.2 billion acquisition of Inland Diversified Real Estate Trust in July.
Challenges mushroom for embattled HDG Mansur chief
After flying so high, HDG Mansur's Harold Garrison had a long way to fall, and he's taken quite a tumble.
Investments pick up in Holy Cross neighborhood
Decades-old barriers to development are beginning to fall in Holy Cross, attracting more residential and commercial construction.
Duke Realty reports higher profit, revenue for third quarter
The real estate developer of commercial properties posted increases due to higher occupancy and growth in rents.
Broad Ripple project gets green light from court decision
The developers of the $30 million apartment-and-retail project on the Central Canal are prepared to move forward now that the Indiana Court of Appeals has dismissed a challenge to the development.
LISC aims to turn dormant industrial sites into job-creators
Local Initiatives Support Corp. has unveiled the results of a year-long study to identify the best uses for vacant industrial properties and what areas of the city need the most attention. Topping the list: the East Washington Street corridor.
Meijer drops rezoning request for proposed Glendale store
The retailer had filed plans to rezone nearly an acre along East 56th Street and Keystone Avenue for a 200,000-square-foot store, which neighbors argued would bring too much traffic to the area.
Simon profit dips but outlook improves
Simon Property Group Inc. on Wednesday said its third-quarter profit fell due to recent costs related to refinancing its debt, but that otherwise performance for the quarter was strong.