CBRE’s three-year courtship of Sitehawk pays off
After becoming managing director in 2010 of the local CBRE office, John Merrill knew he needed to do something to improve the firm’s retail services. He soon set his sights on market leader Sitehawk.
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City-County Council gives go-ahead to 16 Tech bonds
The City-County Council voted unanimously Monday night to approve $75 million in bonds for infrastructure improvements that should allow development of the 16 Tech innovation district to move forward.
Backlash causes Simon to reverse course on Santa glacier display
The Indianapolis-based mall owner already has reversed a decision to—in some malls—replace its traditional Christmas tree in favor of the glacier display after it received a chilly reception.
Mainstreet engineers reverse takeover of public Canadian firm
Carmel-based Mainstreet has engineered a $302.5 million reverse takeover of a Canadian long-term care company that will once again give Mainstreet a publicly traded investment firm to help finance its development projects.
Downtown bike lane causing confusion
The city of Indianapolis this week installed a bike lane on the west side of Pennsylvania Street, but apparently no one got the memo, judging from the number of cars parking in the lane.
From humble start, developer expands to 30 hotels
Since arriving in Indianapolis in 1989—to buy a Days Inn on the city’s south side—Bharat Patel has grown his portfolio to nearly 30 properties stretching from California to New Jersey.
Retailers, restaurants struggle to find staff in north ‘burbs
Advertisements for traditionally low-wage jobs in hospitality and retail decorate major thoroughfares in the northern suburbs, offering management positions and higher pay as incentives.
Mel Simon’s 2009 Pacers deal is wreaking legal havoc
Mel Simon sold his stake in the Indiana Pacers to his brother Herb in February 2009, seven months before Mel's death. Lots of legal questions are swirling around the deal six years later.
Developer plans $110 million second phase of CityWay
The development plan by Buckingham Cos. consists of seven more buildings—including a nine-story tower—that will contain 450 apartments and 19,500 square feet of retail or office space. A parking garage also would be built.
HHGregg misses expectations with quarterly loss
The Indianapolis-based appliance and electronics retailer on Thursday reported a loss of $10.1 million on shrinking sales.
Broad Ripple bar re-emerges with new name, ownership
The former Chumley’s on Broad Ripple Avenue has reopened as Village Tap Room after an extensive renovation by new owners who hope to attract a more professional crowd.
Design of $50M Mass Ave apartment project wins approval
The Indianapolis Historic Preservation Commission on Wednesday evening approved the design of the five-story Montage on Mass apartment and retail project, but the building’s controversial electronic-mesh art display likely won’t be considered until next year.
Local Cushman & Wakefield office names new leader
A veteran Duke Realty Corp. executive is assuming leadership from Jeffrey L. Henry, who has led the office 15 years, a span that included a series of name changes.
Anderson store on Target’s national closure list
Target Corp. plans to close 13 stores nationwide, including one in Anderson, the retailer announced Wednesday.
Roundup: Fountain Square welcomes eatery; downtown dessert bar opens
Marrow opens Tuesday evening while Frona Mae began serving customers Monday from its East Washington Street space. Also, Hoaglin to Go plans second downtown location, in new YMCA.
Longtime Duke Realty CEO Oklak stepping down
The Indianapolis-based real estate investment trust said Dennis D. Oklak will retire at the end of the year as part of a succession plan and be replaced by the company’s chief operating officer.
Projects progressing along stretch of East 16th
Plans call for apartments, another restaurant from the owners of Tinker Street, and even a microbrewery or distillery.
Westfield selects Jonathan Byrd’s to operate Grand Park hotel
According to plans, the 180-room hotel will be on 5.26 acres of city-owned property immediately to the west of the future indoor soccer facility on 191st Street.
CBRE expands local operations with acquisition of Sitehawk Retail
Sitehawk, whose roots date back to 1982 as The Linder Co., has been a leading retail brokerage in Indiana for several years. CBRE had been pursuing Sitehawk on and off for years, real estate sources said.
Renovation eyed for ex-Studebaker plant in South Bend
City officials are working with an entrepreneur to turn the 950,000-square-foot building and a pair of adjacent two-story buildings into a place for high-technology businesses, manufacturing, offices, condominiums, stores and restaurants.