Carmel to buy shopping center near City Center for $15M
The Carmel Redevelopment Commission has an agreement in place to purchase the shopping center, a deal that will allow the city to raze the existing building and develop another project.
Property Management
Purdue Polytechnic eliminates Broad Ripple High School from site search
Purdue Polytechnic High School on Friday announced it was no longer considering the former Broad Ripple High School building as a site for its second Indianapolis location.
Key lawmakers urge IPS to lease Broad Ripple High School to charter school
In a letter to Superintendent Lewis Ferebee and the IPS board, nine lawmakers urged the district to quickly accept a verbal offer to lease the building for up to $8 million.
Joint venture acquires downtown office building, plans renovation
St. Louis-based Integris Ventures and New York-based Starlight Equity Partners paid about $3.1 million to purchase the seven-story building. It plans several more acquisitions in Indianapolis.
Retailers fume over tax-law typo that makes renovations pricier
The industry, led by Target Corp., Best Buy Co. and KFC-owner Yum! Brands Inc., is pushing for a solution a last-minute drafting error that doubles the tax costs for badly-needed store renovations.
Anthem seeks to use downtown green space for 60-space exec parking lot
The insurer is asking for a zoning variance to install a fenced-in lot covered by solar panels on a grassy space off Virginia Avenue.
Little League to consider other locations for Central Region headquarters
Little League International said it might consider sites outside of Zionsville for its new regional headquarters following public criticism of a real estate project associated with the high-profile development. Seventy communities had sought the headquarters before Zionsville was chosen.
Northwest-side apartment portfolio fetches $64 million
An Atlanta-based real estate company has purchased four Indianapolis apartment communities and plans to spend $27 million to renovate them.
Saks parent, a Simon Property partner, unable to escape slump
The rebound taking shape in parts of the retail industry eluded the owner of the Saks Fifth Avenue and Lord & Taylor department stores, which failed over the holiday season to reverse a decline in same-store sales.
Mainstreet nixes ambitious Arizona plan, terminates at least 70 workers
The Carmel-based developer and operator of senior care facilities blamed high start-up costs and a challenging reimbursement environment for decision to pull out of Arizona.
Invesque picks up 14 medical office buildings in $142M deal
The deal includes a portfolio of 545,000 square feet of medical office space in New York, Florida and Canada, occupied by more than 400 physicians’ practices.
Halakar Properties reemerges after national partner ends affiliation
The local Halakar real estate firm no longer is affiliated with Newmark Knight Frank, which has poached a former Halakar co-owner to start an Indianapolis office.
Indiana Supreme Court: Lake Michigan shoreline open to all
The Indiana Supreme Court has ruled in a landmark decision that Lake Michigan's shoreline is open to all, and adjacent property owners can't exercise exclusive control of the beach between their homes and the water.
Mainstreet Health makes $425M acquisition, plans name change
Mainstreet Health Investments Inc., a company founded by Carmel-based Mainstreet Property Group, has reached a deal to acquire Care Investment Trust LLC, which owns 42 senior housing and care properties.
After overcoming abundance of obstacles, 360 Market Square nears completion
The $120 million building will become yet another signature structure in the new Market East district, a section of downtown that until recently featured a sea of parking lots and ramshackle buildings.
Madison County courthouse vacated for asbestos remediation
The employees will be vacating the downtown Anderson building for seven months.
Purdue turns to private apartments to house surplus of students
The university enrolled about 7,600 freshmen this fall, its largest first-year class in more than a decade. Almost 95 percent of them decided to live on campus.
Amazon plans warehouse on former Simon shopping mall site
E-commerce giant Amazon plans to build a massive warehouse outside Cleveland on the site of a closed shopping center that was once owned by Indianapolis-based Simon Property Group. The former mall was once billed as the world’s largest.
Northeast-side apartment complex fetches $30.2 million
A Nashville, Tennessee-based company has acquired the 398-unit complex in Castleton and plans to invest $4.7 million in the property.
City council acts to close loopholes in landlord registry system
The city of Indianapolis is hoping to get derelict property owners into shape with new changes to its landlord registry.