Buyers edging back into Indianapolis commercial real estate
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
Real estate deals
Articles
Rivers Edge spawns new retail center across 82nd Street
Veritas Realty is betting more restaurants and retailers are interested in opening stores near Nordstrom Rack and The Container Store.
Duke Realty selling 82 office buildings for $1.1B
The sale includes buildings with a combined 10.1 million square feet of space in Atlanta, Chicago, Columbus, Dallas, Minneapolis, Orlando and Tampa. None of the properties are in Indiana.
Jillian’s arcade games, bowling alley up for auction
An auction to liquidate the downtown entertainment complex will be held Oct. 26 to sell more than 100 arcade games, a nine-lane bowling alley and 12 pool tables. Jillian’s operators owed the landlord roughly $700,000 in unpaid bills.
Real estate brokerage sues IU Health over commissions
CBRE Inc. accuses the local hospital system of cheating it out of consulting fees that could top seven figures related to several building projects.
Texas investors buy northeast-side hotel
A couple from suburban Houston bought the 187-room Ramada Inn in an online auction for $1.3 million and have rebranded it as ExtendASuites.
Apartments, retail planned for Virginia Ave. corridor
Call it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue in this historic neighborhood southeast of downtown is under construction or will be soon.
Industrial-market sales this year end deal drought
Through the first eight months of this year, there were at least seven sales of large industrial properties in the market, compared with zero last year.
New owners aim for big profit after buying IPS school on the cheap
The buyers of former IPS School 64 stand to make hundreds of thousands of dollars if they manage to flip the property they bought for just $20,000.
Developer rolls out $40M plan for Keystone site
A local developer has acquired the northwest corner of 86th Street and Keystone Avenue and is working on plans for a $40 million apartment and retail project.
City to give Angie’s List $4.6M to buy properties for expansion
Money for real estate acquisition is a major component of the $7.1 million in incentives the city of Indianapolis offered Angie's List Inc. for expanding its headquarters campus to accommodate 500 more employees.
Developer of government building sees potential for more
Ambrose Property Group broke ground last month on a 13,000-square-foot building at Intech Park that will house about 75 Social Security Administration employees.
Buyer snaps up 175-acre Golf Club of Indiana
An investment group has acquired the Golf Club of Indiana in southern Boone County near Zionsville and is planning improvements to the 175-acre property.
Lender’s suit says homebuilder owes $12.8M on loans
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
Tanger buys outlet center from Simon Property
Tanger Factory Outlet Centers Inc. said Tuesday it bought an Ohio outlet shopping center from Indianapolis-based Simon Property Group Inc. for $134 million.
$100M ‘Bridges’ project in Carmel wins approval
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK’d Monday night by the Carmel City Council after numerous concessions.
Trinity Metals to add 50 jobs at new facility
Indianapolis-based Trinity Metals is expanding its local operations, purchasing a vacant facility southeast of downtown to house its headquarters and two recycling divisions.
Developer puts Cosmopolitan complex on block
The Cosmopolitan on the Canal, a 218-unit upscale apartment complex in downtown Indianapolis that cost more than $33 million to build, has been put on the market by Flaherty & Collins Properties.
Effort to save minority car dealer lands Bill Mays in ditch
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
Bull-themed Cadillac Ranch takes over Music Mill
Nightclub Cadillac Ranch plans to open a location in the former Music Mill restaurant and concert venue on 82nd Street.