Simon Property Partners with GE for Energy-Efficient Malls

Simon Property Group, headquartered in Indianapolis, has partnered with Current (a GE subsidiary) to make malls more sustainable and energy-efficient. To that end, Simon and Current have targeted Westchester Mall in White Plains, NY and Castleton Square Mall in Indianapolis to deploy energy-efficient solutions, including everything from demand response systems for electricity optimization, to electric

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Citimark, Paul Hemmer Team to Build 534K-SF OH Industrial

Paul Hemmer Cos. and Citimark, have launched construction on Ten Nine Hundred, a 534,500-square-foot speculative industrial property in Blue Ash, OH. The project is Citimark’s second in Cincinnati since the beginning of 2016. The asset at 10900 Kenwood Rd. is scheduled for year-end delivery. The development represents a first-time collaboration between Fort Mitchell, OH-based Paul

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Four Tenants Sign at 37K-SF Indiana Office

Four tenants signed leases at the 37,200 square-foot office building in the Oxbow Landing mixed-used development in Hammond, IN. The building at 2929 Carlson Dr. is still under construction.  As of now, when it opens in January, it will be 50% occupied. ATG Real Estate Development LLC, which developed the first office property, is ready

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Naming Rights Eyed By Cash-Strapped School Districts

In recent years, the Penn-Harris-Madison School Corp. in northern Indiana sold naming rights to its football field for $400,000, as well as to its baseball and softball fields to an auto dealership and law firm, respectively. Naming rights is a way for professional sports teams and art museums (as well as colleges and universities) to

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$75M Phoenix Warehouse Sale Highest Since 2012

Koll Co., based in Newport Beach, CA, has paid out $74.7 million to acquire a 1-million-square-foot distribution center in Phoenix. Duke Realty sold the property at 6835 W. Buckeye Rd., which is 100% leased to Amazon.com. Bo Mills, Mark Detmer and Pat Harlan of Jones Lang LaSalle’s Phoenix office brokered the transaction. Indianapolis-based Duke Realty

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O’Hare Airport Set for Significant Terminal Expansion

Major air carriers have reached an agreement with the administration of Mayor Rahm Emanuel to significantly expand Chicago’s O’Hare International Airport’s passenger terminals. The airport expansion, likely to cost billions of dollars, will lead to nine new gates by 2019, and possibly dozens more in a new terminal a few years later. The expansion will

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Calmwater Issues $44M Refi for Lake Business Center

Calmwater Capital issued a $44 million refi bridge loan to Simborg Development for its Lake Business Center in Munster, IN. The loan will be used to refinance existing debt, recapitalize the partnership, and leave enough capital to lease up the 993,017-square-foot facility at 9100-9200 Calumet Ave. The property is nearly 83% occupied. Simborg has owned the

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Hertz Pays $417M For Midwest Portfolio

Hertz Investment Group of Santa Monica, CA acquired four office buildings in the Midwest, paying seller Equity Commonwealth $416.7 million for the 3.1-million-square-foot portfolio. The buildings included 111 Monument Circle and 101-115 W. Washington St. in Indianapolis; North Point Office Complex in Cleveland; and 100 E. Wisconsin in Milwaukee. The portfolio was 86.5% occupied at closing.

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TX Company To Build Tiny Hospitals in Indiana

Embree Group, based in Georgetown, TX near Austin, has filed applications to build micro hospitals in Plainfield, Noblesville and Indianapolis, IN. If approved, the developer will construct new buildings that measure approximately 19,000 square feet. The micro hospitals are smaller than full-service hospitals, which can be up to 100,000 square feet. Micro hospitals are small-scale

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