Former Mayor Peterson joins Kite Realty board

Back to TopCommentsE-mailPrintBookmark and Share

Former Indianapolis Mayor Bart Peterson, who grew up around the commercial real estate business, is making a small return to his roots.

Peterson, 55, has been appointed to the board of trustees of Indianapolis-based Kite Realty Group Trust, the company announced Tuesday.

The former two-time mayor is better known for politics and public policy, but he spent many of his early years working in his family’s commercial real estate company.

Peterson’s father, Howard, developed the massive Castleton Commercial Park in the 1960s. His firm, the Precedent Cos., was one of the city’s top developers until last decade, when it fell victim to the recession. It now operates as the Peterson Co. under the direction of Bart's brother, Tim.

Peterson was heavily involved in the family business at times, including a stint in the mid-1990s as president of the company. He left that position to run for mayor in 1999.

He is currently the senior vice president of corporate affairs and communications at Eli Lilly and Co., which he joined in 2009.

As a member of Kite's board, Peterson will receive an annual cash retainer of $42,500 and first-year stock awards worth roughly $62,000.

"We are delighted to welcome Bart Peterson to our board of trustees," Kite Realty CEO John Kite said in a prepared statement. "Bart's significant background and stature as a business and civic leader fit extremely well with our current board and make us an even stronger company."

Kite shares rose 2.4 percent Tuesday morning, to $6.44 each.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. The Walgreens did not get a lot of traffic. It was not located on the corner of the intersection, and not really visible from Emerson. Meanwhile the CVS there is huge and right on the corner. I am guessing a lot of people drove by a million times and never knew the Walgreens was there. Although, with the new Walmart market going in, that area could really see a lot of increase in traffic soon.

  2. You folks don't have a clue. There is a legal way to enter this country and to get aid. This left unchecked could run us to ruin quickly. I also heard that 'supporters' were getting major $$ to take them in? Who's monitoring this and guess who pays the bill? I support charitable organizations... but this is NOT the way to do it!

  3. Apparently at some time before alcohol has been served at the fair. The problem is that beer or wine used to be a common drink for people before soft drinks and was not thought to be that unusual. Since many folks now only drink to see how much they can drink or what kind of condition they can end up in it becomes more problematic. Go to Europe and its no big deal just as if you had sodas of milk to drink everyday. Its using common sense that is lacking now days.

  4. To address the epic failure of attracting race fans to both the Indy 500 and Brickyard 400 would take too much of my time to write. Bottom line Boles is clueless and obviously totally out of touch with the real paying fan base. I see nothing but death spin coming for the Brickyard, just like Indy. Get somebody in a place of power that understands what race fans want.

  5. I am a race fan through & through. It doesn't matter if it's Indy cars or Nascar. I love a great race. I go to several other tracks each year and you can see the entire track. I know Indy has tradition, but fans want to see the entire race. I sit in the Penthouse, am almost 60 years old, and would like to see a better TV screen in turn 1 so you can see the entire race. Then I think Indy needs to install an escalator so us old folks can make it up to the Penthouse and down again if we want more options to purchase food and drinks. Just a race fans opinion. Lights won't make the race any better, but you might be able to see the TV better at night. Turn 1's screen needs replaced with a better and bigger screen.