Indianapolis
IDI Plans 460,000-Sq.-Ft. Development, Acquisitions at AmeriPlex Industrial Park
Atlanta-based Industrial Developments International Inc. (IDI) is planning the construction of its second building at the AmeriPlex Business Park, a large distribution complex adjacent to the Indianapolis International Airport.
Insight Development Opens 155-unit Mixed-Income Apartment Community in Downtown Indianapolis
by Adriana Pop, Associate Editor Insight Development Corp., the development arm of the Indianapolis Housing Agency, has announced the official opening of 16 Park Apartments, an eco-friendly residential community located in the city’s downtown area. The $34 million redevelopment project has turned the 35-year-old Caravelle Commons housing cooperative along 16th Street into 155 mixed-income residences. […]
Sourwine Real Estate to Deliver City’s First Speculative Office Project Since 2008
Sourwine Real Estate Services, a locally based three-generation real estate owner, developer and property management company, is about to complete the first speculative office building in the Indianapolis area since 2008.
Pittman Partners Files Plans for $90M Mixed-Use Hub in Zionsville
Pittman Partners LLC is planning a $90 million commercial and residential hub in Zionsville, the Indianapolis Business Journal reports.
Whitsett Plans to Convert 190,000 SF Former Indianapolis Star HQ into Apartments
The Whitsett Group is planning to redevelop the Indianapolis Star’s downtown headquarters into apartments. According to the Indianapolis Business Journal, the company has recently acquired the 190,000-square-foot property at 307 N. Pennsylvania Street and its 500-space parking garage from Star’s parent company, Virginia-based Gannett Co. Terms of the transaction were not disclosed.
Kite Realty Acquires Castleton Crossing in Indianapolis for $39M
Kite Realty Group Trust Inc. has purchased the 280,000-square-foot Castleton Crossing retail center in Indianapolis for $39 million. According to property records, Texas-based American National Insurance Co. is the seller of the property.
Milhaus’s $26M Downtown Redevelopment Obtains Rezoning, Design Approvals
Milhaus Development has received design and rezoning approvals from the Historic Preservation Commission to repurpose the former Mitchell & Scott industrial site in downtown Indianapolis into a five-building apartment complex.
Located in the Chatham-Arch historic district, the $26 million project will bring a total of 236 apartments, including studio, one-, two- and three-bedroom units. Rents will range between $900 and $2,000 per month.
Fishers Medical Office Building Wins BOMA’s TOBY Award
The Building Owners and Managers Association (BOMA) has named the St. Vincent Medical Center Northeast, a medical office building in Fishers, the North Central Region winner of The Outstanding Building of the Year (TOBY) program.
Developed and managed by Duke Realty, the approximately 119,800-square-foot facility at 13914 Southeastern Parkway opened in 2008. The building is part of Ascension Health’s newly built St. Vincent Fishers Hospital.
Hertz Investment Acquires 650,000 SF Office Property in Indianapolis
Hertz Investment Group of Santa Monica, CA has closed on the purchase of the 650,000 square-foot Capital Center Office Tower Complex in Indianapolis from Invesco Real Estate. The local office of CBRE represented the seller in the transaction.
According to the Indianapolis Business Journal, the complex is the 12th-largest in the city and the fifth-largest downtown.
Located on Illinois Street, between Ohio and New York streets, the two-building Class A office property is comprised of the 17-story North Tower and the 22-story South Tower. Amenities include an underground parking structure with 525 spaces, two restaurants, conference facilities, a sundry shop, a coffee shop and a fitness center.
Hendricks Breaks Ground on $30M Redevelopment of Retail Strip in Indianapolis
Developed by Hendricks Commercial Properties of Wisconsin, the five-story mixed-use project will replace the vacant Woodfield Centre retail strip at the southwest corner of Keystone Avenue and East 86th Street with 120 high-end apartments and 36,000 square feet of ground-level retail space. According to the Indianapolis Business Journal, a 10,000 square feet restaurant could soon become the property’s anchor tenant. The developer expects to have a commitment by June, the newspaper reports.
Plans also call for 350 surface parking spaces for shoppers and a 150-space underground garage for residents. Construction is expected to be complete by next summer.