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Browning/Duke Realty to build distribution center and warehouse for Walmart at AllPoints Midwest
Real Estate Journals
Walmart has selected Browning/Duke Realty, a joint venture partnership between the two Indianapolis commercial real estate companies, to develop its new e-commerce warehouse and distribution center.
Scheduled for delivery later this year, the 1.2-million-square-foot industrial building will sit on a 64-acre site in AllPoints Midwest, a bulk industrial campus in Plainfield, Indiana.
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Indiana legislature unexpectedly axes property transfer law
The Indiana General Assembly recently voted to repeal the Indiana Responsible Transfer Law (RPTL) as part of House Enrolled Act No. 1005. After July 1, however, the RPTL will no longer remain in force. The repeal applies to relevant definitions listed throughout IC 13-11, such as the definition of “property” in IC § 13-11-2-174 and other RPTL provisions that are codified at IC §§ 13-25-3 et seq.
Core standards: What comes next
National Association of Realtors®
National Association of Realtors® President Steve Brown explains the next steps for implementing core standards for ensuring associations provide a professional level of services to members.
Commercial Real Estate Challenge — Sept. 25
Leukemia & Lymphoma Society
The commercial real estate community has been successful in drawing attention to blood cancers in the past six years through the Commercial Real Estate Challenge, an annual fundraiser to raise money for The Leukemia & Lymphoma Society (LLS). This event brings together Indianapolis area commercial real estate firms, vendors and clients for a party which includes an auction, cocktails and hors d’oeuvres.
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Commercial real estate makes a modest comeback
The uncertainty in public and private markets has left many U.S. pension fund administrators uneasy, at best, and has left managers searching for investments that can match long-term liabilities and fight inflation. Real estate, especially commercial real estate, although also having had its share of ups and downs, has provide some measure of calm to institutional investors.
Region senator skeptical of Pence tax conference
The Times of Northwest Indiana
The top region Democrat on the State Budget Committee isn't expecting much good to come from Republican Gov. Mike Pence's Tax Competitiveness and Simplification Conference. State Sen. Karen Tallian, D-Ogden Dunes, said there's room to improve and simplify Indiana's tax laws, but she suspects a tax conference focused on "competitiveness" is an excuse to dream up another business tax cut, likely a second bite at eliminating the business personal property tax that provides $1 billion in annual funding to Indiana local governments.
$2.1 billion Kite deal nearing completion
Inside Indiana Business
Kite Realty Group Trust announced that at its special meeting held reently, shareholders overwhelmingly approved the issuance of common shares to stockholders of Inland Diversified Real Estate Trust, Inc., pursuant to the definitive merger agreement dated Feb. 9, and approved an amendment to Kite Realty's Articles of Amendment and Restatement of Declaration of Trust to increase the total number of authorized common shares from 200 million to 450 million. Approximately 92.7 percent of the outstanding Kite Realty common shares voted with respect to the issuance of common shares to Inland Diversified stockholders in connection with the merger, with approximately 99.9 percent of the votes cast in favor of this proposal.
Flex-office operator adds 58 suites in Massachusetts Avenue area
Indianapolis Business Journal
An international firm that rents out fully furnished and equipped offices by the day, week or month is expanding its presence in Indianapolis.
Luxembourg-based Regus Group plc has taken more than 10,000 square feet on the third floor of Lockerbie Marketplace, where a Marsh supermarket anchors the ground level.
Turner Woodard 'lights up, paints up and rents up' old properties
The Indianapolis Star
Turner Woodard remodeled an old car factory into a booming commercial development. The Stutz Business Center was born out of a concept called “adaptive reuse,” where a building or property is altered from its original use into a new purpose that is productive and beneficial. The building now serves as a bustling business incubator for small- to mid-sized companies as well as some of the city’s most renowned artists. Woodard is exploring the possibility of adding a 12- to 24-story, mixed-use tower to the existing Stutz Business Center.
Auto supplier coming to River Ridge in Jeffersonville
News and Tribune
Officials with America Place Business Park announced a new company will soon be moving into its 86-acre property in the River Ridge Commerce Center.
America Place did not disclose the name of its new lease holder, but said it is an automotive supplier and Fortune 500 company that is expected to bring more than 250 jobs to Jeffersonville and be fully operational by Sept. 1.
City Council to mull over incentives for D-Patrick's new location
At the June 23, Evansville City Council meeting, it was a matter of where, but now it's a matter of when and how much.
"The deal last night was more about changing and asking for the zoning," said City Council President John Friend.
The owners of D-Patrick could receive around $8.3 million when the city purchases the downtown lot to make way for the IU Medical School expansion project. That land acquisition is expected to be finalized soon, officials said.
Westfield scores $20 million indoor soccer facility, restaurant
Indianapolis Business Journal
Real estate developer Holladay Properties plans to build a $20 million indoor soccer facility at Westfield's Grand Park, providing a year-round venue at the sprawling sports campus—and a home for south-side institution Jonathan Byrd's first restaurant in Hamilton County.
Mayor Andy Cook announced the project recently at Grand Park's ribbon-cutting ceremony, an event that also drew Gov. Mike Pence, Congresswoman Susan Brooks and a stage full of other dignitaries.
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