Cornerstone sinks $4M into Carmel medical office building
The Indianapolis-based developer bought the building on Old Meridian Street early this year from The Spine Institute—its only tenant at the time—and now has the facility fully leased.
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Developer seeks abatement on $24M UIndy project
The University of Indianapolis has selected local developer Strategic Capital Partners LLC to build its health sciences center. To help offset its investment costs, Strategy Capital has requested a tax abatement valued at $2.5 million.
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.
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.
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.
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.
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.
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.
Apartment owner jumps into office biz with south-side rehab
Ardizzone Enterprises Inc. in Beech Grove is preparing to open a two-building, 63-suite office complex on U.S. 31 south of Interstate 465. The company has invested $4.2 million in the project.
Developer to break ground on Fort Ben project
The 36,000-square-foot building will house 27,000 square feet of office suites. The remainder will be retail, with the local Jockamo's Pizza chain slated to open a restaurant in the largest space.
State Auto’s Midtown HQ building on block
State Auto Insurance is seeking to sell its nearly 200,000-square-foot regional headquarters building in Midtown and is listing the property for $9.1 million.
Broad Ripple brokers propose office project on College Avenue
Scott Lindenberg and Thomas Willey want to replace two rental homes they own just north of Kessler Boulevard with a 5,700-square-foot, two-story office building.
Prominent criminal lawyer: Airport site for complex ‘cannot work’
A spokesman for Indianapolis Mayor Greg Ballard said the airport site hasn’t officially been selected, although it did score highest among sites the city evaluated.
Local developer Keystone buys north-side office park
An affiliate of Keystone Realty Group has bought Waterplace Office Park on North Meridian Street and plans to make a major investment in the property in hopes of improving occupancy.
City committee again delays vote on MSA tower’s financing
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins’ proposed $81 million high-rise project on the former Market Square Arena site.
Cassidy Turley offers upbeat outlook on local real estate
The city’s largest real estate brokerage predicts that 2014 will mark the first year the economy feels like it’s actually recovering, as all sectors of the commercial real estate market continue to improve.
North-side office buildings sell for $25 million
Cincinnati-based Neyer Properties has made its first foray into the Indianapolis market by purchasing two buildings near Keystone at the Crossing. A $2 million renovation is in the works.
Century-old Mass Ave landmark changes hands
The Marott Center was built in 1906 as one of the first multi-level department stores in Indiana and is listed on the National Register of Historic Places.
Owners of Regions Tower putting building on the market
Office brokers say the 662,000-square-foot-building, downtown’s third largest, could fetch more than $60 million, or about $100 a square foot.