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.
Real estate deals
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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.
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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.
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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.
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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.
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Articles
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.
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.
West-side apartment complex sells for $32.8M
The Astoria Park Apartments complex, 3640 Beluga Lane, was bought by Besyata Investment Group, according to the Indianapolis multifamily division of Chicago-based Cushman & Wakefield, which brokered the sale.
Indianapolis Airport Authority selling 18-acre tract in Greenfield
Business is booming at Greenfield manufacturer ATMI Indy LLC, which is acquiring the property to accommodate the company’s growth.
Ambrose plans new Plainfield industrial park, $50M first building
The 189,000-square-foot first building is one of four planned by Indianapolis-based Ambrose Property Group at its new Plainfield Logistics Center.
Boston firm buys 10 industrial buildings for $62 million
Plymouth Industrial Real Estate Investment Trust said Tuesday that it acquired the nine-building Shadeland Commerce Center and a 353,000-square-foot building at 7901 W. 21st St.
Tempus acquires former Wiley office building in Fishers for $8.8M
The four-story building with nearly 140,000 square feet of Class A office space was originally built in 1999 to house John Wiley & Sons Associates, the publisher of the “For Dummies” series of guidebooks.
Insurance company acquires former Lids HQ in Zionsville for $18.25M
Group One Thousand One LLC, an Indianapolis-based insurance holding company, announced plans Tuesday to expand local operations into the Zionsville building beginning next year.
Local developer inks deal to buy 17-acre site from airport
The undeveloped site between Perry Road and Airtech Parkway is adjacent to the Shops at Perry Crossing and the Plainfield Commons shopping center.
Indianapolis Zoo secures 28 acres of land for expansion
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
Pace planning 200-acre life-science business park by airport
The owner of Pace Air Freight, which specializes in truck transport of pharmaceutical products, is in the process of assembling land it doesn’t already own, including parcels owned by Indianapolis International Airport.
Greenwood apartment complex sold to out-of-state investors for $40M
Copper Chase, one of the largest apartment complexes in Greenwood, received nearly 20 offers, including several from companies looking to make their first foray into the Indianapolis multifamily housing market.
Ball State moving local operations to east-side Angie’s List site
Ball State is consolidating operations it had at Meridian Centre and at the Platform at City Market into a building on Pine Street, in the block between East Washington and Market streets.
Real estate company sues law firm over HHGregg property deal gone awry
A Carmel-based plaintiff has filed a lawsuit against Krieg DeVault, alleging the Indianapolis-based law firm’s failure to file a property deed in 2003 in a transaction involving defunct retailer HHGregg could now cost the real estate company millions of dollars.
Massive Keystone Crossing office park sold to out-of-state partnership
The 1 million-square-foot, six-building office campus adjacent to the Fashion Mall at Keystone sold this week in a deal estimated by local real estate experts to exceed $105 million and possibly much more.
Downtown architecture firm plans move, mixed-use project on College Avenue
Lancer + Beebe LLC has purchased property for a new headquarters on downtown’s eastern edge that also would include retail and residential space.
Prime site near Keystone, 96th Street interchange hits market for nearly $10M
The 18.1-acre parcel is one of the few remaining undeveloped sites of significant size on Indianapolis’ northern edge. Although it’s bordered by homes, local brokers foresee commercial development.
Chicago developer to buy 57-acre Plainfield property near airport
The Indianapolis Airport Authority, which owns the property, agreed to sell the land for $6.67 million to a real estate developer that owns several other properties in the area.
Council OKs $7M in developer-backed bonds for Block 20 project
The project, known as Block 20, consists of developments on two sites near Mass Ave and is estimated to cost $40 million.