The dispute started in October when the lender tried to take possession of the building at the southwest corner of 49th Street and College Avenue. Now the owner has filed Chapter 11 to delay foreclosure proceedings.
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
If the “retail follows rooftops” real estate mantra is true, The Village of WestClay may soon see the commercial development its founders envisioned more than a decade ago.
The initial public offering of Brixmor Property Group, the second-largest U.S. shopping center landlord, may be the biggest for a retail real estate investment trust since Simon Property Group Inc.’s IPO 20 years ago.
Residential construction is booming in The Village of West Clay, the already-sprawling Carmel development designed to mimic small-town life at the turn of the (last) century. But not everything has gone according to Brenwick Development’s ambitious plans. Two commercial nodes remain largely undeveloped, and one property owner’s legal woes led to several high-profile vacancies that have yet to be filled.
Flaherty & Collins, the developer of the 28-story tower, “would love to have a Whole Foods” or similar grocer as a retail tenant. With one Marsh two blocks away and another under construction nearby, the project begs the question whether the area can support three groceries.
A local developer has received city approval to rezone 10 acres at Fall Creek Parkway and East 56th Street as part of a plan to demolish a mostly vacant retail center and replace it with a 42,000-square-foot anchor grocery store and other shops.
One of the highest-profile tracts of undeveloped land in Zionsville could be transformed into a commercial and residential hub if Pittman Partners' 62-acre project gets the town’s blessing.
St. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.
Investment Property Advisors of Valparaiso hopes to build a four-story building wrapping around a six-story parking garage that will have 228 apartments and storefronts on the street level.
The Carmel City Council on Monday agreed to pave the way—literally—for commercial development planned for the west side of Michigan Road south of 106th Street.
Opus Development Corp.’s proposal for the project north of downtown included buying and bulldozing dozens of historic homes in the Flanner House neighborhood.
Construction paperwork indicates the store will be almost 200,000 square feet and employ 100 people.
Keeping its quaint Main Street viable as Zionsville ramps up commercial development elsewhere will require finding just the right mix of retail and service businesses to draw—and keep—customers downtown.
Hendricks Commercial Properties is set to break ground on the $30 million mixed-use development on the southwest corner of 86th Street and Keystone Avenue on Wednesday.
Indiana real estate investment trusts are hitting new highs while outpacing the bull market and their peers in the usually hardy and suddenly hot sector.
Already one of the most highly regarded CEOs in Indiana and in his industry, David Simon of Simon Property Group now is keeping company with the likes of Warren Buffett, Amazon’s Jeff Bezos and Larry Page of Google.
The developer of Nora Plaza is planning a $2 million redevelopment of a building that formerly housed Café Nora in the popular north-side shopping center, and anchor Whole Foods is expanding into 5,700 square feet of space north of its existing store.
The Indianapolis developer said the bankruptcy filings are intended to prevent lender Bank of America from forcing the sale of RiverPlace Shops in Fishers, Raceway Market Shops in Indianapolis and Greenwood Crossing in Greenwood.
Having rejuvenated Glendale Town Center and Rivers Edge, Kite is turning its attention to Rangeline Crossing in Carmel.
