Charter school buys former Tindley buildings on east side for $5M
The Indianapolis-based GEO Foundation will make one building the new home of its Next Generation High School and lease the other to elementary charter school Indy STEAM.
Real estate deals
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In Nora standoff, Crew Carwash battling Steak n Shake over corner property
Crew recently bought the property that contains the steakburger chain’s location on East 86th Street with plans to build a new carwash. But it contends in a lawsuit that Steak n Shake has refused to leave.
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Turner Woodard sells majority stake in historic Stutz property
The new majority owner says it plans to retain the Stutz property’s historic character but isn’t yet revealing details about its plans for the 110-year-old downtown complex.
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Downtown’s Salesforce Tower sold for $192.5 million
The 1.1 million-square-foot tower is arguably the most prestigious office address in the city, but the pandemic has exacerbated already-pressing questions about the future of traditional office space.
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IndyGo purchases former Celadon offices for $3M
The east-side site, at 9503 E. 33rd St., will serve as an additional location for IndyGo, which has outgrown its current West Washington Street headquarters.
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Articles
Former Chevrolet plant site in Muncie eyed for solar farm
RACER Trust and Muncie officials said they have reached an agreement for the city to purchase the 53-acre main parcel of the former property.
IndyGo purchasing Haughville properties for paratransit operations
IndyGo has purchased one parcel and is working to purchase an adjacent one for its Open Door paratransit service, which is now housed on the city’s northeast side.
Elanco HQ expected to anchor new development, park expansion on former GM site
Beyond the public company’s $100 million headquarters campus, city and state leaders expect 26 acres to be used for an expansion of White River State Park and new projects potentially with residential, retail and office uses.
Tinker Street owner puts closed restaurant up for sale
Owner Tom Main, 63, said he contacted a broker to put the business on the market. The asking price is $1.2 million, which includes both the business and the 900-square-foot building it occupies in Herron-Morton Place.
Home sales, prices in central Indiana continue recent tear
The median home price in the area reached $221,000, up 15.1% from a year ago when the median price was $192,000.
IndyGo adds two sites to list of possible property purchases
IndyGo has been evaluating possible expansion sites around the city in recent months because it has run out of room at its West Washington Street headquarters.
Cityscape Residential offers Noblesville council additional details on Nexus project
Indianapolis-based Cityscape Residential’s plans to ask the city for an $8 million TIF bond to help support its 287-unit luxury apartment complex. The project is also slated to feature a potential three-story, 30,000-square-foot office building.
All-Star Real Estate Agents: The Indy area’s top teams and solo sellers
Dennis Nottingham’s Indy Home Pros Team claims the No. 1 spot (again) on the teams list, while Jennil Salazar of RE/MAX Ability Plus repeats for the second year as the top IBJ All-Star solo agent.
IndyGo considering purchase of former Celadon headquarters site
IndyGo is on the hunt for additional space because its staff and bus fleet have grown in recent years, making its current headquarters on West Washington Street too small for its needs.
IndyGo bypasses former Harrison College site in search for more space
The transit agency is now considering a site on Post Road that is much larger than the former Harrison College site downtown and potentially much less expensive.
Castleton-area apartment complex sells for record $97.5M
The 996-unit community was constructed in 1982 and is slated for renovations by its deep-pocketed buyer.
Chicago-style pizza chain Lou Malnati’s adding Broad Ripple, Carmel sites
Beloved in the Chicagoland area, the deep-dish chain confirmed to IBJ in March that it planned to enter the central Indiana market with several locations.
UPDATE: Downtown hotel, parking lots sold for $33M to Atlanta firm
Atlanta-based Peachtree Hotel Group bought the Hampton Inn by Hilton at 105 S. Meridian St. and a 50-car parking lot at 102 S. Pennsylvania St.
Bank alleges developer owes nearly $16M for project near airport
The suit, filed Tuesday in Marion Superior Court by Evansville-based Old National Bank, claims Paul Kite and his firm owe the bank $15.8 million.
Deal between Indy Reads, library would relocate bookstore to Fountain Square
The Indianapolis Public Library has reached an agreement in principle to close its Fountain Square branch in May so the not-for-profit literacy organization can move its bookstore to the space this summer.
Land trust secures final property for nature preserve along White River
The Central Indiana Land Trust Inc. plans to open the 12.2-acre White River Bluffs Nature Preserve in 2021.
400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
Litz & Eaton sells three stalled properties to other developers
Indianapolis-based development firm Litz & Eaton Investments LLC—whose principals are entangled in several legal battles as part of a messy split—sold the properties to other companies who plan to move forward with developing the sites.
UPDATE: Church buys former Marsh in Broad Ripple for $7.6M, plans Midtown campus
The sale of the 6.6-acre property included the 57,000-square-foot store on Keystone Avenue. Traders Point Christian Church plans to create an 800-seat auditorium and spaces for children and teens.