Locally based Duke Realty Corp. netted more than $1 million during a Tuesday auction of surplus development parcels in Indianapolis,
Fishers, Plainfield and Lebanon.
Van Rooy Properties plans to spend $5.5 million renovating a 277-unit west side apartment complex that it acquired a month
ago in an unusual deal.
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.
A California water bottler has purchased a Plainfield distribution building for its first Midwestern outpost.
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical
to the project’s development has been scheduled for liquidation by a lender.
Indianapolis-based Hat World Inc. said Monday that its Impact Sports division has acquired Great Plains Sports in St. Paul,
Minn.
Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six
years.
Locally based information technology consultant Apparatus has agreed to buy the former WFYI building at 1401 N. Meridian St. for a new headquarters.
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company’s bankruptcy
cases.
The city has unveiled a dramatic plan for new housing and retail development to revitalize the old Market Square Arena site.
Despite some shortcomings, the project deserves a chance to give the stagnant area a boost.
A $65 million public-private plan for the redevelopment of a vacant downtown office building is raising eyebrows for its unusual
approach and potential risk to taxpayers. The plan calls for a private developer to acquire the former Bank One operations
center, surface parking lots and an adjacent
parking garage from a private owner for $18.5 million, then sell the 1,680-space garage to the city for $18.5 million.
Developer Brown Investments has reached terms with the owners of 43 of 49 homes in the North Meridian Heights neighborhood
in Carmel. Browning plans to demolish the homes to make way for a $100 million commercial development over 17 acres.
A local architecture firm hopes to challenge hip Mass Ave with an arts-themed development in Fletcher Place. The $9 million
project would include apartments, retail and office space.
A local real estate developer has emerged as a top contender to buy the 28-story M&I Plaza–potentially at half the
$50 million price the building fetched a decade ago. Paul Kite Co. confirmed it is in talks with Maryland-based
CapitalSource Inc., which took over the struggling office tower in June after foreclosing on a $5 million
mezzanine loan.
Two giants of local business are preparing to slug it out in court over a soured sublease deal. Marsh Supermarkets filed
suit in Hamilton County this month to enforce a deal with Swiss pharmaceutical and medical-equipment powerhouse
Roche to sublease the grocer’s entire 148,000-square-foot headquarters in Fishers. The deal, worth more
than $47 million over 18 years, is one of the largest of its kind in central Indiana in years.
A trendy bar and an upscale hotel have agreed to anchor the 11-story Ralston Square project slated for South Street between
Meridian and Pennsylvania streets. The developers of the $60 million mixed-use project are moving forward after landing the
tenants necessary to secure a loan commitment, said Brian Epstein, president of locally based Urban Space Commercial Properties
and a partner on the project.
Tampa, Fla.-based DeBartolo Development has reached a preliminary agreement to buy Plainfield’s Metropolis mall out of foreclosure
and hopes to hook Macy’s and Bass Pro Shops to anchor a second phase.
The owners of Market Tower–the city’s fourth-tallest skyscraper–tried to sell the 31-story building this month but apparently
were unable to generate bids that met expectations. The timing of the sale–at a point when financing large deals is difficult–suggests
the owners may be eager to unload the asset.
Paris-based utilities giant Veolia Water has reached a deal to move its North American headquarters into the 16-story National
City Center, providing a boost to a downtown building still reeling from the loss of Simon Property Group Inc.
A shrunken Thomson, the former manufacturer of RCA
televisions, is vacating a landmark office building at its Carmel headquarters to make way for St. Vincent Health, the parent
company of a growing chain of Indiana hospitals.
