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Luxury Hotel in Downtown Indianapolis Open for Business

Luxury Hotel in Downtown Indianapolis Open for Business

A new four-star hotel has recently opened in the heart of downtown Indianapolis, as part of the CityWay development. Called The Alexander, in honor of Alexander Ralston, the engineer and architect who in 1820 led the creation of the city’s plan, the property offers 157 guest rooms with stunning views of…

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Flock Real Estate to Spend $1M Renovating Historic Apartment Buildings in Indianapolis

Flock Real Estate to Spend $1M Renovating Historic Apartment Buildings in Indianapolis

Two Old Northside apartment buildings at the northeast corner of 13th and Alabama streets in Indianapolis are about to get a $1 million makeover. …

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Duke Realty Divests Six-Building Office Portfolio in Indianapolis

Duke Realty Divests Six-Building Office Portfolio in Indianapolis

A joint venture between Middleton Partners and Romanek Properties has acquired the six-building Hillsdale Technecenter in suburban Indianapolis from locally based Duke Realty Corp. John Huguenard and Peter Harwood of Jones Lang LaSalle represented the seller in the transaction. Financial terms were not disclosed. According to the Indianapolis Business Journal,…

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Gershman Brown Crowley to Begin Construction on First Phase of $100M Mixed-Use Project in Carmel

Gershman Brown Crowley to Begin Construction on First Phase of $100M Mixed-Use Project in Carmel

Indianapolis-based Gershman Brown Crowley Inc. will soon break ground on the first two components of its $100 million mixed-use development in Carmel. According to the Indianapolis Business Journal, the developer is seeking design approval from the city for a 9,600-square-foot retail building at the southwest corner of 116th and Illinois…

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Pedcor Cos. to Break Ground on Carmel City Center’s Second Phase Next Spring

Pedcor Cos. to Break Ground on Carmel City Center’s Second Phase Next Spring

by Adriana Pop, Associate Editor The Pedcor Companies will begin construction on the second phase of the major Carmel City Center project next spring. According to the Indianapolis Business Journal, the first structure to be developed will be The Nash. Located on the west side of Rangeline Road, the three-story,…

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Local Investor Group Acquires 188,000SF Office, Storage, Industrial Space in Indianapolis

Local Investor Group Acquires 188,000SF Office, Storage, Industrial Space in Indianapolis

Private investor group Alcatraz Investments, LLC has acquired the 188,000-square-foot Indianapolis Enterprise Center on the near-east side of the city. Financial terms of the transaction were not disclosed. The facility features office as well as storage and industrial space, and serves small business customers in the downtown Indianapolis market. Alcatraz…

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General Hotels Plans $8M Renovation for Downtown Crowne Plaza

General Hotels Plans $8M Renovation for Downtown Crowne Plaza

General Hotels Corp. is planning a major renovation of the Crowne Plaza Hotel in downtown Indianapolis. According to Inside Indiana Business, the $8 million project will include extensive upgrades to the hotel’s 273 guest rooms, as well as improvements to the meeting space and food and beverage areas. In order…

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Eli Lilly Plans $140M Plant Expansion in Indianapolis

Eli Lilly Plans $140M Plant Expansion in Indianapolis

Eli Lilly and Co. has announced plans for a $140 million expansion of the company's Indianapolis insulin manufacturing operations. The company’s initiative represents one of the largest economic development investments in both the city and state in 2012. Construction on the 80,000-square-foot expansion will begin immediately with completion expected in…

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City Unveils Plans for Mixed-Use M-F Project in Downtown Indianapolis

City Unveils Plans for Mixed-Use M-F Project in Downtown Indianapolis

City officials have announced the winning bid for the reconversion of a prime Mass Avenue parcel in downtown Indianapolis. The development team will be comprised of apartment specialist J.C. Hart Co., retail developer Paul Kite Co. and architecture firm Schmidt Associates. The anticipated cost of the project is approximately $43…

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Creditor Files to Acquire Comfort Suites City Centre for $7.5M

Creditor Files to Acquire Comfort Suites City Centre for $7.5M

New York-based German American Capital Corp. could become the new owner of the Comfort Suites City Centre in downtown Indianapolis. In February, the property’s current owner, Warsaw Hotel Partners LLC, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy protection. The petition listed $1 million…

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Thompson Thrift to Break Ground on Fishers Marketplace Mixed-Use Redevelopment

Thompson Thrift to Break Ground on Fishers Marketplace Mixed-Use Redevelopment

Terre Haute-based Thompson Thrift is set to break ground on the mixed-use Fishers Marketplace redevelopment at State Road 37 and 131st Street. The first phase of the project will include a luxury apartment complex and a retail center, the Indianapolis Business Journal reports. Construction of the Addison Landing at Fishers…

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Mainstreet Property to Develop $15.7M Seniors Health Care Facility in Indianapolis

Mainstreet Property to Develop $15.7M Seniors Health Care Facility in Indianapolis

Mainstreet Property Group LLC has gained approval from the Indianapolis Metropolitan Development Commission to build a $15.7 million senior health care center on the city’s east side. According to the Indianapolis Business Journal, a portion of the project could be financed by $7.4 million in city-issued bonds. Plans call for…

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