Rolls-Royce gives downtown office market a bounce
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
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Northeast-side office building falls into foreclosure
The 83,653-square-foot office building at 6666 E. 75th St. near Binford Boulevard and Interstate 465, is known as Heritage Park II. It is only 55-percent occupied.
Office/retail building planned for Fort Ben
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge as it works toward breaking ground this year on what it expects will be a 45,000-square-foot building geared toward retail and office tenants.
Virginia not-for-profit suing Duke Realty for $30M
Military think tank CNA claims Duke Realty breached its obligations as landlord by selling land in Alexandria to the Department of Defense, which plans to build a bomb-inspection facility on the site.
Northeast-side office building target of foreclosure
Owners of the nearly 40,000-square-foot office complex near East 71st Street and Binford Boulevard have defaulted on a $3 million bank note, according to court documents.
Duke Realty sells offices in shift toward industrial
Strategy also calls for greater Southeast presence, less investment in the Midwest.
Lilly’s master plan for downtown (real estate)
As Eli Lilly and Co. outsources work and sheds unnecessary properties, it is making moves with surplus real estate that could establish the strongest physical connection between Lilly and downtown since the company was founded at Pearl and Meridian streets 135 years ago.
Fourth-quarter commercial real estate stats for Indianapolis
Statistics for Indianapolis office and industrial property.
Glick partners on $30M downtown apartment development
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
Citimark rejoins development game
The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
Local office market continues vacancy struggles
The Indianapolis office market suffered through a tough 2010, marked by stagnant and high downtown vacancy rates, falling suburban occupancy rates and another year without construction activity.
Commercial real estate will continue its climb back in 2011
Medical office likely will be the strongest sector, followed by apartments.
Duke/Browning team to develop building at new Wishard
The team, which plans to build an office building in the 200,000-square-foot range, beat out six other groups that submitted proposals.
Rolls-Royce eyeing former Lilly campus downtown
If the manufacturer and drugmaker can come to an agreement, Rolls-Royce would lease the space formerly occupied by Eli Lilly and Co. and relocate some of its 2,500 employees to the downtown campus on South Meridian Street. Discussions are expected to last several months.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
Industry vet sees sectors on upswing, auctions booming
Jeff Henry, managing principal of Cassidy Turley, believes the commercial real estate market has seen the worst but isn't far off the bottom yet. Meanwhile, banks are beginning to jettison properties in a wave of auctions.
Developer of Binford Medical Complex files for Chapter 11
The developer of an unfinished medical office complex on Binford Boulevard has filed for Chapter 11 bankruptcy protection in hopes it can retain control of the property and resume construction later this year.
BPG sells trio of Keystone Crossing buildings
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
Summit Realty pursues downtown building for HQ
The firm, now based in Chase Tower, wants to acquire and renovate the building at 241 N. Pennsylvania St.
Lauth moving HQ to North Meridian office building
Lauth Group Inc. will relocate its headquarters to a North Meridian Street office building as part of a bankruptcy court settlement,
the company announced Thursday afternoon.