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Commercial Real Estate
Bales trial in jury's hands after colorful closings
February 7, 2013
Cory SchoutenDuring three hours of closing arguments Wednesday in the federal fraud trial of real estate broker John M. Bales and William
E. Spencer, a federal prosecutor and two top-tier Indianapolis defense attorneys delivered a series of memorable one-liners
and rhetorical flourishes designed to stick with jurors.
MoreUPDATE: Defense takes turn in Marsh civil trial
February 6, 2013
Scott OlsonDon Marsh finally got off the hot seat Wednesday afternoon after his former company wrapped up nearly two days of questioning,
but he didn't stay off the witness stand for long.
MoreLong-struggling condo development going to auction
February 5, 2013
Tom HartonThe mostly two-bedroom units represent the bulk of the ill-fated Chatham Kynett Court project at 716 N. East St. in the Chatham
Arch neighborhood.
MoreSimon ups dividend after beating analysts' expectations
February 4, 2013
Bloomberg News, Associated PressThe Indianapolis-based shopping mall owner reported funds from operations, a key measure of a real estate company's performance,
of $2.29 a share, topping the average estimate from analysts of $2.17 a share.
MoreDefense attorneys turn tough in Bales trial
February 1, 2013
Cory SchoutenThe legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first
witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank,
mail and wire fraud.
MoreFormer Venture employee turns on Bales during testimony
January 31, 2013
Cory SchoutenAn FBI investigation into Venture Real Estate Services and principals John Bales and Bill Spencer had already begun when Matthew
Dyer signed on as the company's controller in December 2009. Bales told him the company had done nothing illegal, Dyer
testified Wednesday.
MoreDuke Realty earnings, revenue see quarterly decrease
January 30, 2013
IBJ StaffIndianapolis-based Duke Realty Corp. on Wednesday reported a fourth-quarter loss of $22.5 million, a sharp decline from the
$60.2 million it made in the same quarter of 2011.
MoreDefense attorneys in Bales case trash former co-defendant
January 30, 2013
Cory SchoutenAttorney and developer Paul J. Page is no longer a co-defendant in the fraud trial of real estate broker John M. Bales and
partner Bill Spencer. But you wouldn't know it from the action Tuesday in U.S. District Court. Only now, rather than federal
prosecutors, it's defense attorneys for Bales and Spencer who are targeting Page.
MoreBales defense: Elkhart deal was a 'scheme to help'
January 29, 2013
Cory SchoutenFacing a looming deadline to find suitable office space for the state Department of Child Services, Indianapolis real estate
broker John M. Bales and partner Bill Spencer in 2008 dipped into their own pockets to help close a difficult lease deal,
their defense attorneys contend.
MoreCity-County Council approves north-side TIF district
January 29, 2013
Kathleen McLaughlinA new redevelopment area will be created on the north side, as the Indianapolis City-County Council voted 23-5 Monday night
in favor of the North Midtown tax-increment finance district.
MoreButler Automotive snaps up 96th Street parcel for dealership
January 29, 2013
Tom HartonAn affiliate of Butler Automotive Group bought more than 19 acres at the northwest corner of East 96th Street and Randall
Drive in late December and is seeking permission from Carmel to build a structure that would house Butler Hyundai.
MoreIndiana House OKs looser rules on selling old schools
January 28, 2013
Associated PressThe Indiana House has approved a bill that would shorten the time that school districts must hold onto vacant buildings in
case a charter school operator wanted to move into the building.
MoreReal estate developers' exhilaration turns to pain in bankruptcy
January 26, 2013
Greg AndrewsMany Indianapolis developers know the feeling. In good times, few industries generate an adrenalin rush like real estate development.
But it’s a highly leveraged business built upon certain assumptions that proved flimsy when the financial crisis hit.
MoreBales' trial could turn on definition of ownership
January 26, 2013
Cory SchoutenThe jury trial in South Bend for real estate developer John Bales and his general counsel, William E. Spencer, is scheduled
to begin Jan. 28 and last up to two weeks. Bales and Spencer, both 45, are facing 13 counts, including wire and mail fraud.
MoreHHGregg ratchets back, but analysts still uneasy
January 19, 2013
Greg AndrewsHHGregg now has 228 stores in 20 states. So it has grown a great deal. But the “exceptional store economics” it
used to promote are gone, thanks largely to a breathtaking collapse in sales of flat-screen televisions.
MoreMall REITs soared in 2012 by ditching struggling centers
January 18, 2013
Bloomberg NewsMall owners, including Simon Property Group Inc. and General Growth Properties Inc., have been moving on from struggling retail
centers as the economic rebound drives them to focus on the best-performing markets.
MoreRetailer plans 250-worker Hendricks County warehouse
January 17, 2013
Gordmans, an apparel and home decor retailer, said it will spend $37.5 million to construct and equip a 545,000-square-foot
distribution center in Clayton.
More$1.5M plan to salvage Di Rimini nears finish line
January 15, 2013
Cory SchoutenThe bank that owns the hulking pile of code violations known as Di Rimini at the southeast corner of Capitol Avenue and St.
Clair Street is poised to invest more than $1.5 million to finish the ill-fated project.
MoreCassidy Turley offers mixed outlook on Indy real estate
January 10, 2013
Cory SchoutenThe city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more
cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already
sluggish recovery.
MoreDuke Realty sells six-building local office complex
January 9, 2013
Cory SchoutenTwo Illinois companies have acquired a six-building, 446,000-square-foot Indianapolis office portfolio from locally based
Duke Realty Corp. Industry sources say the buildings sold for more than $20 million.
MoreLocal elevator service firm bought by German company
January 8, 2013
The Indianapolis elevator repair and installation company has been acquired by ThyssenKrupp AG. Amco Elevator was founded
in 1965 and had been locally owned until the purchase.
More$30M Keystone mixed-use project seeks city approval
January 8, 2013
Tom HartonHendricks Commercial Properties wants to build a five-story, L-shaped building with more than 36,000 square feet of ground-level
retail space and 130 high-end apartments on the upper floors.
MoreFortune's death puts 14 West building up for grabs
January 5, 2013
Cory SchoutenA historic brick building long used as a restaurant and hotel suites next door to Circle Centre mall is going up for sale
for the first time in almost a decade, with an expected asking price of $4 million.
MoreInvestor: Kroger missed chance to buy ‘linchpin’ property
January 5, 2013
IBJ StaffOwner of real estate near 16th and Central says grocery chain showed little interest, but Kroger says it still wants property
to make way for new downtown store.
MoreBales accomplice pleads guilty in deal with prosecutors
January 4, 2013
Cory SchoutenIndianapolis attorney and developer Paul J. Page has agreed to cooperate with federal prosecutors in an investigation that
targets former Marion County Prosecutor Carl Brizzi.
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It's also across the street from Fogo de Chao and Morton's....
Yep, the haters are trying to make good news bad. I guess it is hard to get people to believe the series is dying when they are gaining new sponsors.
David Copperfield! I remember watching his specials on TV when I was little.
Don't forget this is next to an MMA gym, a pawn shop, and some abandoned spaces.
Good project for Zionsville - A group who has owned the property for many years has waited and worked patiently to bring highest and best use development to a major corridor, and mix that in with the great downtown you have. Win Win. All the Best to Pittman Partners and Zionsville.