Despite a lot of construction, warehouses are being leased as soon as the cranes come down. Indianapolis, Phoenix and California’s Inland Empire are among the hot markets nationally.
Zeller Realty Group has sold the two spacious buildings along the North Meridian Street office corridor after undertaking extensive renovations.
Onward Investors LLC announced Monday that it sold the building to Arkansas-based Tempus Realty Partners three years after acquiring it.
An investment team headed by Bill Oesterle says it’s planning a “playground for the creative and innovative” on the 17.5-acre property.
The $70 million price marks a whopping 75 percent increase over the $40 million the previous owners paid to buy the property in early 2016.
As part of its local downsizing, Angie’s List has signed a lease to occupy four floors of a historic downtown building, becoming the largest tenant in the 12-story office tower.
A local ownership group has filed plans to construct a 250,000-square-foot office building with a 40,000-square-foot grocery store, in addition to a parking garage and smaller office building.
Bill Oesterle and a group of investors have agreed to purchase the 17.5-acre site on the near-east side and could close on the deal in March.
One of the most prominent office buildings downtown has become available for lease and is expected to generate plenty of interest from prospective tenants coveting a prized Monument Circle address.
Philadelphia-based Rubenstein Partners and Strategic Capital Partners of Indianapolis have acquired the Precedent Office Park, the second large local business park purchased by the partnership in the past 18 months.
A sturdy office sector, hot industrial demand and some steamy retail categories are expected to boost Indy’s commercial real estate market in 2018.
Mainstay Property Group has won approval to construct the office and retail project as the street’s commercial revival kicks into high gear.
The company said it hasn’t lost faith in brick-and-mortar retail but now is broadening its development focus in a quest to continue increasing the value of its real estate holdings.
The special payout will cost the company more than $302 million.
Growth in the technology industry has become a big driver of activity in the local commercial real estate market, according to a new report by CBRE, which ranked Indianapolis fourth for tech-job increases among U.S. cities.
Local officials say the land, part of Indianapolis Metropolitan Airport, could house up to 1 million square feet of new commercial development under a plan approved on Friday.
The firm is rehabbing a commercial building in Irvington that’s been vacant for 30 years and saying goodbye to its longtime, idiosyncratic corporate home.
St. Vincent Health filed an application Sept. 22 with the state, seeking to remodel 192,327 square feet of the Parkwood West Building, 250 West 96th St., for administrative offices.
The parcels, which are divided by Municipal Drive, could be developed into 65,000 square feet of office space.
Square Deal is purchasing the 30-story building from Zeller Realty, which put it on the market in the summer after spending millions on renovations and improving occupancy.
