Developer seeks tax break for $11M medical office building in Fishers
Indianapolis-based Cornerstone Cos. Inc. is working on plans for an $11 million medical office building near St. Vincent and IU Health hospitals in Fishers.
Commercial Real Estate
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Simon partner looks to buy out co-owners in expansion drive
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
Veteran real estate exec takes helm of DTZ office
David Reed, who once led CBRE’s local operations, has joined Chicago-based DTZ as a managing director, a post that will put him in charge of growing the company’s Indianapolis presence.
Circle Centre reports higher occupancy, lower revenue
New tenants including Granite City Food and Brewery and Firehouse Subs helped boost Circle Centre mall’s occupancy to nearly 90 percent in 2013, but sales per square foot and revenue slipped.
Precedent Office Park owner cashes out at steep loss
The owners of the 19-building Precedent Office Park are poised to unload the massive property, but at a price much cheaper than what they gave nine years ago during the height of the real estate boom.
Design group honoring Ratio Architects founder
Local architect Bill Browne, president and founder of Ratio Architects, will be honored May 22 by the Interior Design Coalition of Indiana as its 2014 Legend IN Design recipient.
Kite Realty reports profit on soaring revenue
Revenue jumped to $42.7 million as more of the company’s retail developments became operational. Its acquisition of nine properties in November also contributed to the gain.
Duke Realty reports first-quarter growth in FFO
The Indianapolis-based real estate developer saw higher revenue and improved funds from operations, a common measure of performance for real estate investment trusts, in the first quarter.
First-quarter commercial real estate statistics for Indianapolis
Check out the latest office and industrial statistics.
Flaherty becoming mixed-use master
Developer’s Flaherty & Collins is gaining a reputation developing trendy projects, the latest of which is a 28-story retail and residential tower on the site of the former Market Square Arena.
Two downtown office towers poised to get new asset manager
Sam Zell’s Equity Group Investments would step in at Chase Tower and PNC Center, replacing a firm accused of conflicts of interest and underperformance.
Central Indiana home to 2 of state’s 10-most-endangered places
The Mills House in Greenwood appeared on the list for the first time, while the Anderson Athletic Park Pool made a return appearance. Indiana Landmarks unveiled the list at its Rescue Party Saturday night.
Council sues city over public safety lease deal
The City-County Council wants to force officials to produce documents relating to the controversial lease of the public safety operations center on the east side. It was vacated in September due to safety and health code violations.
Broad Ripple landmark has new owner
Monon Housing Partners LLC bought what’s known as Mustard Hall near the southeast corner of Broad Ripple and Guilford avenues and is seeking tenants for the building.
Craft beer chain to open $2.5M Broad Ripple location
Called HopCat, the bar will anchor the long-vacant corner space in the Broad Ripple parking garage on the southwest corner of College and Broad Ripple avenues.
Brokers fear criminal justice complex could harm downtown
City officials and real estate professionals debated on Thursday the pain from moving jails, courts and other criminal justice functions to a proposed complex outside of downtown.
Banks whittle down Indy-area branches
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
Chatham Tap crew buying ex-church for brewery, restaurant
The owners of two popular pubs on Massachusetts Avenue are delving into the trendy micro-brewery business with plans for a brewery and restaurant in a historic former church a few blocks away.
Mainstreet aims to help finance nursing home through crowdfunding
Mainstreet Property Group LLC plans to launch a new round of private placement fundraising on April 21 using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana.
Report: State political leader had millions on the line
Documents show House Speaker Pro Tem Eric Turner earned nearly $8 million selling nursing homes in the last two years and stands to earn between $1 million and $2 million on projects now being developed, thanks in part to legislation he helped block this year.