Indianapolis
Market Snapshot: Indianapolis Flexes Multi-Family-Construction Muscle
Indianapolis metro area’s steady employment growth will drive up apartment demand in 2015.
REI Investments Acquires Former GM Indianapolis Plant Property
REI Investments has acquired the former GM Indianapolis Stamping Plant property from RACER Trust. The City of Indianapolis has an option to acquire approximately 56 acres at the western edge of the property, which it is considering for construction of a consolidated city-county justice center.
E-Commerce, Technology Push Industrial Rents Upwards
As the e-commerce revolution becomes more mainstream in retail and in people’s buying habits, the need for faster delivery nationwide is spiking demand in warehouse distribution centers, indicating a likely increase in industrial rents for 2014.
Zeller Realty Plans Sale of Large Office Complex in Carmel
Chicago-based Zeller Realty Group is planning to divest the iconic Meridian Mark Plaza office complex along the North Meridian Street corridor in Carmel. The Indianapolis Business Journal reports that the company has hired the local office of CBRE to advise it on the sale.
RockBridge Capital to Renovate Iconic Canterbury Hotel in Indianapolis for $9.5M
Columbus, Ohio-based RockBridge Capital LLC is planning to close the historic 99-room Canterbury Hotel in downtown Indianapolis for a nine-month renovation and reopen the property under Starwood’s luxurious Le Meridien brand.
Transpacific Development Purchases 1.1M-Sq.-Ft. Distribution Center at AmeriPlex
Transpacific Development Co. of Torrance, California has recently purchased a 1.1-million-square-foot distribution center at the AmeriPlex Business Park. According to the Indianapolis Business Journal, the seller of the property at 9101 Orly Road was Metro Holdings One LLC of Columbus, Ohio.
Radco Cos. Acquires Receiver-Managed Property for $16.5M
The RADCO Companies has announced the acquisition of the Lakewood Lodge multifamily community in northern Indianapolis. The Atlanta-based company purchased the 454-unit property from its lender, the Lehman estate for $16.5 million.
Big Red Liquors Plans New 33,000-Sq.-Ft. HQ in Indianapolis
Bloomington-based Big Red Liquors is planning to turn a vacant 33,000-square-foot building on the south side of Indianapolis into the company’s new headquarters.