Two downtown office towers change hands in $417M acquisition
The four-building acquisition by Hertz Investment Group includes the tallest office tower in Indiana and the fourth-largest office complex in downtown Indianapolis.
Real estate deals
Articles
High-end office park on north side sells for $162.9M
A partnership involving a local firm has acquired the eight-building complex from Duke Realty Corp., and is planning an amenity center for dining, fitness, conferences and workplace collaboration.
McNamara hopes $2.5M bet on HQ will help Mass Ave industrial corridor flower
The Indy area’s largest florist has completed moving its headquarters and distribution operations from Fishers to an area near downtown in need of revitalization.
Suburban megachurch expanding into downtown with big purchase
Traders Point Christian Church has acquired a 104-year-old building at the corner of 12th and Delaware streets and plans to spend $2 million to renovate it.
Builder bets on West Clay retail area
A developer is poised to tackle the remaining vacant commercial property in the heart of Carmel’s Village of West Clay.
Red Cross, new CEO adjust to different way of working
Chad Priest took the reins of the Indiana Region of the American Red Cross in the aftermath of drastic chapter closures and in the midst of preparations to relocate the Indianapolis headquarters.
Kite Realty spent millions on deal that didn’t occur
The Indianapolis-based company spent $2.8 million in the second quarter on a potential purchase it ultimately decided not to pursue.
City seeks input on new use for Butler-Tarkington fire station
The 84-year-old building at 56th and Illinois streets is expected to draw plenty of interest from restaurateurs due to its proximity to the neighborhood’s prime commercial corner.
Environmental firm expects big growth in new HQ on hot corridor
EnviroForensics has spent $3 million to buy and renovate a new headquarters a few blocks north of its current location on North Capitol Avenue.
Fishers gets clearance to open airport land for offices, manufacturing
Fishers officials have drafted a plan to market 211 acres at Indianapolis Metropolitan Airport for commercial development. The Indianapolis Airport Authority gave its blessing Friday morning.
New owner of downtown office towers plans $5M in upgrades
Mission Peak Capital sees a big upside in spiffing up the buildings near Cummins’ new office project and a planned 28-story apartment building.
Developer plans $20M apartment project on Fountain Square block
Nearly an entire city block in Fountain Square soon could be redeveloped, with five old buildings getting torn down and a new five-story project springing up with retail space and 94 apartments.
After report of Kite deal, CEO of Glimcher resigns
Retail real estate firm WP Glimcher denied last week that it was in talks to merge with Indianapolis-bases Kite Realty Group Trust. Now its CEO is gone, and directors are reevaluating its portfolio.
Trailblazing grocer exploring move to newer, larger space
The Pogue’s Run food cooperative on the city’s east side is discussing whether to put down stakes a few blocks away in the Clifford Corners mixed-use development.
Major renovation for downtown Marriott to run ‘tens of millions’
The revamp of the 622-room Marriott is meant to bring the hotel up to the same standards as the JW Marriott a block to the west. The latter’s owners have agreed to buy the former for $165 million.
UPDATE: City’s second-largest hotel to be sold for $165M
White Lodging Services Corp. and REI Investments have a contract to acquire the 622-room Indianapolis Marriott Downtown hotel, the owner said Thursday.
Future of high-profile Zionsville property thrust into uncertainty
Pittman Partners LLC had proposed a $90 million, mixed-use project known as The Farm near the southwest corner of U.S. 421 and Sycamore Street. It recently withdrew from the project, and a new developer is being sought.
Fast-growing logistics firm buys downtown Cannon IV building
FitzMark Inc. is spending about $4 million to buy and renovate the property in the Cottage Home neighborhood, as Cannon IV prepares to leave for the suburbs.
Jonathan Byrd’s diversifies, moves north
Jonathan Byrd’s has for years been quietly expanding beyond its successful restaurant and catering company in Greenwood. Now, it is shifting most of its attention to Hamilton County.
Speak Easy to make downtown’s Morrison Opera Place its second home
The not-for-profit co-working organization based near 52nd Street and College Avenue said it plans to open a location in the historic downtown building as soon as August.