Downtown’s vacancy rate continues to hover around 20 percent, according to mid-year market reports, with more space becoming available than was leased. Meanwhile, the northern suburban market is showing the most improvement.
The three buildings near I-465 and North Meridian Street that make up Meridian Corporate Plaza were lost by Lauth Investment Properties LLC in its bankruptcy reorganization.
Sourwine Real Estate Services expects to have its $12 million, 80,700-square-foot project finished later this month in one of the city’s hottest north-side development areas.
The city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already sluggish recovery.
Construction could begin soon in the former home of Nordstrom at Circle Centre mall, but the project does not signal an end to the mall’s limbo following the 2011 departure of its marquee anchor.
Indianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32 million in the same quarter of 2011.
New stories have debuted at malls across the Indianapolis area. Many are pop-up shops eager to capitalize on holiday shoppers and the Super Bowl crowds.
California-based Blue Real Estate lost the last big chunk of its Indianapolis portfolio last week when a lender took control of Blue’s 360,000-square-foot, seven-building portfolio in Park 100.
Borders Group Inc.’s proposed liquidation will increase available U.S. retail space by about 6.3 million square feet as the industry struggles with near-record vacancy rates and stagnant rents.
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
Cassidy Turley's research director said the pace of leasing activity is the best he’s seen in 18 to 24 months.
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
Strategy also calls for greater Southeast presence, less investment in the Midwest.
Another challenging year is in store for commercial real estate thanks to high unemployment, a still-struggling housing market and an unforgiving credit environment, Cassidy Turley plans to report Thursday at its annual State of Real Estate event.
Occupancy in the Indianapolis metro area grew last year to 90.8 percent, according to the latest annual market report compiled by apartment brokerage Tikijian Associates. The downtown market, in particular, boasted strong numbers.
The Indianapolis office market suffered through a tough 2010, marked by stagnant and high downtown vacancy rates, falling suburban occupancy rates and another year without construction activity.
Medical office likely will be the strongest sector, followed by apartments.
Grande Reserve at Geist fetched $13.3 million, just shy of the asking price.
About 2.5 million square feet of industrial space is expected to hit the market between now and the end of the year, most
of it in the Plainfield area.
