The Capital Improvement Board of Marion County has agreed to slash its sale price on downtown's Ober Building by $700,000 after inspections showed problems including a leaky roof and damaged HVAC system.
An FBI investigation into Venture Real Estate Services and principals John Bales and Bill Spencer had already begun when Matthew Dyer signed on as the company's controller in December 2009. Bales told him the company had done nothing illegal, Dyer testified Wednesday.
Two Illinois companies have acquired a six-building, 446,000-square-foot Indianapolis office portfolio from locally based Duke Realty Corp. Industry sources say the buildings sold for more than $20 million.
The Indianapolis Enterprise Center on the near-east side has been acquired by a local investor group led by the former owner of the troubled business incubator.
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
Expiring leases have prompted at least five major users of downtown office space to assess whether to renew or relocate.
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.
Philadelphia-based BPG Properties Ltd., which owns the building at 8888 Keystone Crossing that Bell is vacating, has purchased Bell’s new headquarters at 4400 W. 96th St.
A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.
The call center software maker won’t comment on a report issued earlier this month by Jones Lang LaSalle that said the company is shopping for more than 225,000 square feet of office space.
Ace Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
Indianapolis Mayor Greg Ballard’s office is reviewing proposals from five commercial property managers that want a crack at running the City-County Building for the next 30 years.
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
Figures from Cassidy Turley showed the suburban market growing by 247,000 square feet while downtown contracted by 68,000 square feet in the first half of the year.
A publicly traded real estate investment trust has agreed to pay $201 million for the tallest building in Indiana, a price that could give a boost to the local investment market.
Structure to be built steps away from Rolls-Royce, Lilly and newly built apartments and retail space.
The local developer moved its offices into the building and plans more than $2 million in upgrades to reposition a property that fell on hard times at the dawn of the national real estate crisis.
A local developer plans to break ground this month on a three-story office building near Keystone at the Crossing that would be the market’s first speculative office development in four years.
Land at the Waterfront Office Park that sat vacant for decades is now ripe for retail development thanks to the reconfiguration of a west-side interstate interchange.
Greenwood Mayor Mark Myers wants to see more offices, corporate headquarters and medical facilities along Interstate 65. He's been meeting with business owners and developers in the area to discuss ways they can team up to pursue that goal.
