Indianapolis-area office market showing signs of a rebound
Stronger absorption in the metro area is pushing vacancy down and rental rates up, mid-year office reports show, even though downtown’s vacancy rate remains above 20 percent.
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Castleton Park acquired by New York real estate investor
One of the city's largest and oldest office parks has been sold. Castleton Park, a 120-acre property containing 31 office buildings, was acquired by New York-based Group RMC, a real estate management company.
Downtown’s Landmark Center sells for $23 million
New Jersey-based Fairbridge Properties bought the 12-story downtown office building from Ambrose Property Group, which purchased it out of receivership and invested $8 million in renovations.
Five buildings set for construction this fall at Carmel City Center
Three buildings are expected to be reviewed by the Carmel Redevelopment Commission Architectural Review Committee this month.
Historic state-owned office building hitting the market
The Harrison building at 143 W. Market St. will hit the market Monday. Built in the late 1920s as the Harrison Hotel, the 40,000-square-foot building offers views of the Indiana Statehouse.
Hipsters in office towers? Building owners scramble to lure them
Paltry occupancy rates in downtown Indianapolis office towers have owners remodeling lobbies among other changes to remake their staid images.
Hospital frugality drives health property shake-up
Instead of building new medical office buildings, cost-conscious Indianapolis-area hospital systems have the past few years opted for space in existing buildings.
Owners take advantage of hot office market to flip commercial buildings
Real estate investors are cashing in on the local office market quicker than expected as properties change hands at prices not seen since before the recession.
Delta Faucet planning $15M expansion of Carmel HQ
The four-story, 80,000-square-foot addition will serve as the Carmel-based firm’s public entrance and showroom, as well provide office space for future growth.
Northwest-side office building sells for $14.3M
The 180,637-square-foot building, known as College Park Plaza, was built in 1998 and houses the headquarters of publicly traded Republic Airways Holdings Inc.
Buyer of mostly vacant office complex scores 3 tenants
After buying 500 N. Meridian in June, Ambrose Property Group has snagged three major tenants from OneAmerica Tower.
Duke Realty sells 62 office buildings for $1.12 billion
Indianapolis-based Duke announced the massive sale Wednesday at the same time it released a quarterly financial report that mostly met analyst expectations
Office, industrial markets heated up in 2014
Both markets posted strong results as demand for space improved following the recession. Downtown office demand remained weak, however.
State mulls sale of downtown Harrison Building
The Indiana Public Retirement System plans to move out of the Harrison Building at 143 W. Market St. and is considering whether to sell the building, which has been under the agency’s ownership since 1982.
Q&A: Cummins CEO says firm scoped 10 sites for unit HQ
Officials of the Columbus, Indiana-based company even toured the old GM stamping plant before selecting the former Market Square Arena site.
OneAmerica bringing 10-story workspace into new century
The life insurer is renovating 10 of the floors it occupies in its namesake building downtown and is removing the outdated and constrictive cubicles for a more modern, open floor plan.
Developer restoring vacant downtown office building
A local developer has purchased a vacant 12-story office building east of Monument Circle downtown and is embarking on $7 million renovation to return the property to its former prominence.
Four-story addition proposed for Mass Ave. office building
Gershman Partners, which bought the Marott Center less than a year ago, wants to build the addition on an adjacent surface lot.
Prospective Salesforce tower spurs proposal, concerns
News that Salesforce.com wants a signature office tower downtown already has sparked an overture from one developer, shined a spotlight on available sites, and triggered fears about the impact on office vacancy rates.
ExactTarget parent wants to build office tower in Indianapolis
The CEO of Salesforce.com, which purchased ExactTarget for $2.5 billion last year, told IBJ on Tuesday morning that the firm was looking for the right opportunity.