Indianapolis office market shows rise in occupancy
The improvement was sparked by growing occupancy in the suburban office market, where the vacancy rate fell from 20.3 percent to 18.2 percent.
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City christens Market East cultural district downtown
The area—roughly 14 square blocks—anticipates a passel of new development on and around the former site of Market Square Arena.
Chicago firm enters local industrial market with two big deals
CrossLake Partners spent more than $40 million to buy 21 buildings spread between the northwest-side industrial parks of Corporate Center North and Park 100.
Dora Brothers affiliate loses downtown hotel in bankruptcy
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.
IEDC urging government bets on spec-building
The Indiana Economic Development Corp. is encouraging local governments to help finance speculative industrial buildings, which could land new businesses but could put at risk hundreds of thousands in taxpayer dollars.
UPDATE: Simon Property wins dismissal of CEO pay suit
Simon Property Group won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
Kite sells three retail properties for $35.2 million
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were “non-core assets.”
Anderson businessman pays $7.9M for prime farmland
More than 800 acres of prime farmland in Delaware and Madison counties sold during open bidding on Tuesday for $7.9 million.
Approval for $22M sports complex sought in Greenwood
The project by Sarasota-based GoodSports Enterprises would include a 124-bed hotel and an attached 85,000-square-foot fieldhouse, built on the land once targeted by Cabela’s.
Revamped hotel key to Muncie revitalization efforts
The 91-year-old Roberts Hotel building has undergone a $17 million renovation that created the 83-unit Lofts at Roberts development. The project was crucial to the city’s ability to attract a new downtown hotel.
Purchase of Capitol Clutch building continues area’s resurgence
CrossFit NapTown bought the building at 922 N. Capitol Ave. and plans to expand its strength and fitness program in an area of downtown that’s enjoying a rebirth.
CarDon trying to adjust nursing homes to hospitals, insurers, patients
Family-run company is building nursing homes it thinks will be more attractive to residents and staff.
Software firm renovating warehouse south of Broad Ripple
TCC Software Solutions is spending $1.8 million to rehab the vacant building at 1022 E. 52nd St. and hopes to move in by the end of July.
Big tenant nearly completes tower’s sudden comeback
On the heels of signing Angie’s List Inc. in downtown’s Landmark Center, new owner Ambrose Property Group has inked a lease for the Christian Church-Disciples of Christ, helping to boost occupancy above 90 percent.
Shadeland Station shopping center bought for $9.5M
New York-based Time Equities Inc. acquired the northeast-side property that is anchored by a Marsh supermarket and 85-percent occupied.
Contractor spending $1.6M to move north of downtown
Construction manager and contractor Messer Construction Co. has purchased two adjoining vacant buildings on North Meridian Street south of Fall Creek Parkway and plans to move there from Shadeland Avenue.
Buckingham rethinking plans for prime Zionsville site
Buckingham Cos. says it is still weighing options for a key property it controls in downtown Zionsville, but two nearby landowners are trying to sell their parcels after talks with the developer broke down.
CEO of Simon spinoff to run company from D.C. perch
Simon Property’s decision to name the new business Washington Prime had fueled speculation the company would end up based in the D.C. area. However, that apparently is not the case.
Angie’s List to take big chunk of Landmark Center
The move into nearly 100,000 square feet of office space is intended to consolidate Angie’s off-campus workers downtown. It’s a boon to struggling Landmark Center, which has been hemorrhaging tenants.
‘Architecturally significant’ Cummins HQ likely won’t scrape downtown skyline
The engine maker’s planned global distribution headquarters downtown will seem modest compared to a 28-story apartment complex slated for across Market Street, but the firm has a strong history of promoting breath-taking architecture.