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Projects around the state.

A sampling of current real-estate developments


Nearly 400 employees will report to work here later this summer when National Steel Corp. moves its headquarters from Pittsburgh. Cressy & Everett Commercial Co. successfully lured the company to its 700-acre Edison Lakes Corporate Park.

The company was looking for a Midwestern site to be closer to its manufacturing facilities. National Steel will operate out of a 125,000-square-foot headquarters building at Edison Lakes. Cole Associates of South Bend was responsible for the building design.


The Holladay Corp. entered into a joint venture with the Sisters of the Holy Cross to develop this 120-room hotel on the campus of St. Mary's College.

The hotel's architecture fits right in with the university surroundings; there's even stained glass on the ceiling of the atrium. The Inn at St. Mary's is appointed luxuriously; some rooms have Jacuzzis and Swiss showers. And all rooms are accessible to guests with disabilities. Needless to say, it was designed to appeal to guests at St. Mary's and the University of Notre Dame, but the developers also believe the business community will stay there because of its proximity to the Indiana Toll Road.


This 110-acre mixed-use project is the work of Sturges, Griffin, Trent & Co., and is located on the city's north side. Much of the emphasis here will be on retail.

One part of the plan is a 225,000-square-foot home-furnishings shopping center, which will bring various related retailers together under one roof to attract those fixing up their homes. Also planning to set up shop at Cross Creek is Meijer Thrifty Acres, which plans to construct a "hypermart," a giant blend between discount department store and grocery.


This project was known as the INB Center until a couple of months ago, when Detroit-based NBD Corp. announced plans to acquire Indianapolis-based INB Financial Corp. The $15 million downtown office building planned by City Center Associates has now gotten the green light from city officials, and construction should be complete in 1993.

The project is at the site of the former G.C. Murphy building, and when completed will include a 345-space parking garage. A sky-bridge will connect the parking garage with the main building.


Sears, Roebuck & Co. plays a big role in the history of this building south of downtown Fort Wayne. Built a few decades ago, it housed the retailer until the 1980s, when Sears headed for a mall and vacated the building. Tippmann Properties purchased the building and renovated it into 167,000 square feet of office space.

Then came the irony. The first big tenant turned out to be Sears Telecatalog, which handles catalog orders in 60,000 square feet of Tippmann's building. Among the features that attracted Sears back to Rudisill Plaza was the availability of fiber-optics telecommunications technology, which also will be offered to whatever tenants move into the remaining space.


Gough & Lesch Development of Merrillville is behind this 105-acre project that will be a blend of residential, retail and office uses. According to Jay Pouzar of Gough & Lesch, Chandana Point will include 88 home sites, most of which already have been sold. The homes border the Valparaiso Country Club. These residents will be joined by those of 168 apartments.

Gough & Lesch also will put a 20,000-square-foot retail strip center on the site, along with a 20,000-square-foot surgical center for St. Anthony Medical Center. Also at Chandana Point will be 20,000 square feet of professional office space, and a few outlots.


Within a few months, diners will be enjoying bread sticks and linguini with clam sauce at the first business to locate in this 320-acre development. The Olive Garden is setting up shop there, says Bud Davis of Criterion Construction, which is handling physical work for the developer, Park East Joint Venture.

Park East carries a general business zoning, which will allow retail, light manufacturing and other uses. The developers are setting aside at least 40 acres for a retail center, but development plans are flexible enough to allow demand to have a lot of bearing on the makeup of the park. Park East is large enough that developers expect it'll take more than a decade to fill.


This building in downtown Terre Haute formerly was a warehouse. Mansur Development Corp. of Indianapolis is redeveloping it into a five-story, 55,000-square-foot office building that will house several district departments of the state government.

The project, located at Eighth and Cherry streets, is set to be completed in mid-1994.


Melvin Simon & Associates' showcase in downtown Indianapolis continues to move toward the planned October 1994 opening. The city of Indianapolis is busy pouring concrete footings and preparing to build underground parking garages on which the 730,000-square-foot mall will sit.

Simon has secured a lease with Nordstrom as an anchor, and is working on deals with Lazarus and The Limited on other anchor locations. In addition to the anchors and other smaller retailers, Circle Centre developers plan to feature a 250-room Sheraton suite hotel, a food court, a multiscreen movie theater and an Omnimax theater. Spanning Washington Street in the current plans is the Wintergarden, a domed and landscaped community plaza that Simon hopes will host a variety of events up to 250 days a year.


Work on this national hub for the U.S. Postal Service's Express Mail continues on schedule, reports Dave Carley, president of DeMars Haka Development. The $63 million project includes a 344,000-square-foot sorting facility surrounded by 58 acres of concrete on which postal planes will park. Because of all the fill material needed to level the site, Carley says, the company developed its own quarry off-site.

The facility is scheduled to open Nov. 27 despite wind damage earlier in the construction. The company has great incentive to complete the project on time; if it doesn't, it will be assessed a $35,000-a-day penalty.


Mansur Development Corp. completed this $40 million renovation of the old Indianapolis Rubber Co. factory. Farm Bureau Insurance recently moved into the new 350,000-square-foot headquarters, which is just one part of the 40-acre Quadrant Four urban office park project just southeast of downtown Indianapolis.

The Farm Bureau project is one of the largest industrial renovations ever completed in the United States, according to Mansur. The company now is preparing to develop other parcels within Quadrant Four.


This is the latest build-to-suit project from Duke Associates of Indianapolis. The 180,000-square-foot, four-story building in Duke's Parkwood Crossing development will house about 500 of Indiana Insurance Co.'s roughly 800 employees.

The green reflective glass and granite headquarters building will include a cafeteria for the property/casualty insurance company's employees. Its lobby will be finished in walnut and granite, with beveled glass.


The Indianapolis company that makes GE, RCA and ProScan brands of consumer electronics plans to move into this development at 103rd and Meridian streets near the end of 1993. Browning Investments is developing the building in its Meridian at 465 business park.

The Thomson center will have two buildings that will total 525,000 square feet. The company's headquarters will be in a four-story building featuring a large atrium along with a glass and architectural precast-concrete exterior. Research and development operations will take place in a matching three-story building.


The first phase of this 60,000-square-foot neighborhood retail center is wrapping up now, with a couple of outlots and a 10,000-square-foot building developed. Wininger/Stolberg Group plans to start the 45,000-square-foot second phase once an anchor tenant is signed.

Walnut Station is located on the booming south side of Bloomington, and will complement another nearby project of roughly the same size, Walnut Park, which is anchored by a Marsh Supermarket. Wininger/Stolberg also is busy on the north side of town with another 60,000-square-foot project, Kinser Crossing. An anchor tenant will take a large portion of that space.


Breeden Developers continues to draw businesses to this industrial park and the adjacent Woodside Business Center at Interstate 65 and Indiana 58. The 300-acre developments--along with Breeden's 150-acre Marketplace Industrial Park near I-65 and U.S. 31 north of town--have hosted much of the area's development activity.

For example, Woodside South has seen a quarter-million square feet of construction at the NTN Driveshaft automotive-parts plant, as well as a 30,000-square-foot plant for Indiana Metal Coatings.

At the business center, Turbine Engine Support recently opened a 35,000-square-foot manufacturing facility, and Toyota Industrial Equipment Manufacturing completed a 100,000-square-foot distribution center.


This 48,000-square-foot, red-and-gray-brick building sits on the edge of the Ohio River. International Business Machines Corp. moved into the lower two floors in March, an the upper level is available for lease.

Braun Realty Co. developed the building, which features dark gray solar glass and an entrance canopy with skylights and columns. It was designed by Professional Consultants and built by Industrial Contractors, both of Evansville.


Some tenants already are moving into the first building of this grand DeMars Haka project across the Ohio River from downtown Louisville, Ky. The 11-story building will include 178 apartments and 10 townhouses when construction is complete this fall.

Luxury is the key in this apartment building; sizes range from studio apartments to three-bedroom units, and rent will range from $650 to $2,700, reports Carley of DeMars Haka. All units, he says, have a river view.
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Title Annotation:real-estate developments in Indiana
Author:Kaelble, Steve
Publication:Indiana Business Magazine
Date:Jun 1, 1992
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