Hat World acquires Minnesota sporting goods dealer
Indianapolis-based Hat World Inc. said Monday that its Impact Sports division has acquired Great Plains Sports in St. Paul,
Minn.
Real estate deals
Articles
Anderson siblings buying city’s Mounds Mall
Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six
years.
IT consultant Apparatus buying WFYI building
Locally based information technology consultant Apparatus has agreed to buy the former WFYI building at 1401 N. Meridian St. for a new headquarters.
Judge to determine whether Lauth’s filing was proper
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company’s bankruptcy
cases.
EDITORIAL: Project near MSA may be worth the risk
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.
$65M downtown development deal raises questions
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.
Browning acquires 43 homes for $100 million mixed-used development in Carmel
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.
Cultural Trail spurs development plan along Virginia Avenue
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.
M&I Plaza, only 30-percent occupied, may sell at cut-rate price
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.
Marsh sues Roche over sublease deal
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.
Ralston Square development lures bar, hotel, bowling alley
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.
DeBartolo to buy Metropolis from Dominion Capital
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.
Market Tower owners put it up for bid despite tough market
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.
National City Center nabs Veolia
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.
St. Vincent taking over Thomson HQ
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.
Carmel to get $30M Renaissance hotel
A prestigious, full-service hotel soon will complement Carmel’s booming office market along North Meridian Street. A Cincinnati
developer broke ground this month on a roughly $30 million Renaissance hotel with 263 rooms and 14,000 square feet of meeting
space.
Storied luxury Canterbury hotel may sell
The stately 12-story Canterbury Hotel could use a renovation, hospitality analysts say, to restore some luster and help it
take on more modern competitors. Such an overhaul might be on the way, along with new owners for the independent boutique
hotel at 123 S. Illinois St.
Sun Capital draining Marsh excess
Sun Capital Partners, Florida-based parent of Marsh Supermarkets, is unloading what it sees as excess real estate. Marsh put
19 properties on the market in late February for a total asking price of $10.6 million.
Broker wants Lucas Oil to move HQ near airport
Marvin Miller is representing a landowner trying to sell 125 acres just north of Indianapolis International Airport. But Miller
wants him to give away some of the property to persuade California-based Lucas Oil to move its headquarters there, jump-starting
the stagnant area in the process.
VanAusdall to auction off city block
Local office equipment distributor VanAusdall & Farrar Inc. is putting an entire city block on North Meridian Street up for auction, a move that could spur development in a corridor real estate experts say is ripe for activity. The three-acre property is between 12th and 13th streets.