Commercial Real Estate

Simon Property results improve as store rents climb

April 29, 2011
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
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UPDATE: Skjodt-Barrett Foods bringing 300 jobs to Lebanon

April 28, 2011
Anthony Schoettle
The newest tenant in Lebanon Business Park will occupy 214,000 square feet and make a $20 million investment to build out the space and install equipment.
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Duke Realty reports strong quarterly results

April 28, 2011
Scott Olson
The Indianapolis-based real estate investment trust reported a first-quarter profit of $47.6 million compared with a loss of $15.3 million in the same quarter a year earlier. Gains from the sale of properties helped drive profit.
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Developer plans $13M senior-living center in Westfield

April 27, 2011
 IBJ Staff
Cicero-based developer Mainstreet Property Group LLC plans to build a $13.3 million senior health care center in Westfield. The 65,000-square assisted living facility will employ about 150 people when it opens in 2012.
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Real estate-related bills still alive in Legislature

April 26, 2011
Tom Harton
The bill with perhaps the best chance of emerging is the so-called dinosaur buildings bill, which would make it easier to win tax incentives for renovating obsolete industrial buildings.
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Cook applied business mindset to historic preservation

April 24, 2011
Associated Press
Colleagues say Bill Cook began each historic restoration contemplating what practical use each newly polished structure might serve, and how it might spark development around it.
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Greenwood Shoppes seeks bankruptcy reorganization

April 22, 2011
Scott Olson
The shopping center on U.S. 31 is the third Broadbent-operated strip mall to fall into bankruptcy and its second in Greenwood to claim financial problems.
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Closed northwest-side theater set to reopen

April 21, 2011
Scott Olson
A Chicago native and independent theater owner plans to reopen the old AMC Loews College Park 14 movie complex on April 29, under the new moniker of Movie Buff Theatre.
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Office stats don't tell full story of market's recovery

April 19, 2011
Tom Harton
Cassidy Turley's research director said the pace of leasing activity is the best he’s seen in 18 to 24 months.
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Pop-up retailers emerging in Indianapolis

April 16, 2011
Marc D. Allan
With the retail vacancy rate hovering around 13 percent locally and nationally, temporary retailers are becoming a fact of life in malls, strip malls and downtowns around the country.
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Landlord seeking to evict Jillian's over unpaid rent

April 15, 2011
Scott Olson
The landlord of the downtown building that houses Jillian's, which filed for bankruptcy protection earlier this week, wants the restaurant and entertainment complex out of its building, alleging the tenant owes nearly $700,000.
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Insurance agency revives plans for downtown building

April 12, 2011
Tom Harton
McGowan Insurance Group plans to build a $2.75 million, 19,000-square-foot building at 355 Indiana Avenue.
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Retail REIT profits may slip on store bankruptcies

April 11, 2011
Associated Press
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
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Simon CEO compensation jumps to $24.6 million

April 8, 2011
Bloomberg News
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
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Bank seeks foreclosure on two strip centers

April 8, 2011
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city's northwest side and Lakewood Shops on the northeast side.
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Condo sales lag in hot downtown apartment market

April 5, 2011
Cory Schouten
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
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UIndy to add dorm for upperclassmen

April 5, 2011
 IBJ Staff
With enrollment surging in recent years, the University of Indianapolis finds itself needing new dorm space. The private college will build a $10 million, 200-student residence hall on the south edge of its campus.
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Meridian Street buildings to get facelift

April 2, 2011
 IBJ Staff
A not-for-profit is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into specialized affordable housing.
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City sells North of South bonds, locks in 5.2-percent rate

April 2, 2011
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
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Whitestown interchange lands $8M travel plaza

March 29, 2011
Cory Schouten
A growing distribution hub anchored by Amazon.com and MedcoHealth Solutions along Interstate 65 in Boone County has inspired plans for an $8 million truck stop and travel plaza.
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IU Health cancels $73M project, acquires Gateway PlazaRestricted Content

March 26, 2011
J.K. Wall
Indiana University Health has canceled its plans for a $73 million administrative office building at 16th Street and Capitol Avenue and has instead purchased the Gateway Plaza tower at 10th and Illinois streets.
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Colts-themed restaurant in works in betting parlor space

March 23, 2011
 IBJ Staff
A South Florida restaurateur has plans to open a Indianapolis Colts-themed restaurant in Claypool Court, a retail and hotel center near Circle Centre mall downtown.
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Altum’s staying put at current west Carmel location

March 23, 2011
Scott Olson
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn't found a buyer. Kroger nixed a deal to buy its property last fall.
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Minneapolis firm buys Fishers business park

March 22, 2011
Scott Olson
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
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Rolls-Royce gives downtown office market a bounce

March 22, 2011
Tom Harton
The decision by Rolls-Royce Corp. to occupy Eli Lilly and Co.’s Faris office campus downtown headed off what could have been a big spike in the central business district Class A office vacancy rate.
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  1. The deductible is entirely paid by the POWER account. No one ever has to contribute more than $25/month into the POWER account and it is often less. The only cost not paid out of the POWER account is the ER copay ($8-25) for non-emergent use of the ER. And under HIP 2.0, if a member calls the toll-free, 24 hour nurse line, and the nurse tells them to go to the ER, the copay is waived. It's also waived if the member is admitted to the hospital. Honestly, although it is certainly not "free" - I think Indiana has created a decent plan for the currently uninsured. Also consider that if a member obtains preventive care, she can lower her monthly contribution for the next year. Non-profits may pay up to 75% of the contribution on behalf of the member, and the member's employer may pay up to 50% of the contribution.

  2. I wonder if the governor could multi-task and talk to CMS about helping Indiana get our state based exchange going so Hoosiers don't lose subsidy if the court decision holds. One option I've seen is for states to contract with healthcare.gov. Or maybe Indiana isn't really interested in healthcare insurance coverage for Hoosiers.

  3. So, how much did either of YOU contribute? HGH Thank you Mr. Ozdemir for your investments in this city and your contribution to the arts.

  4. So heres brilliant planning for you...build a $30 M sports complex with tax dollars, yet send all the hotel tax revenue to Carmel and Fishers. Westfield will unlikely never see a payback but the hotel "centers" of Carmel and Fishers will get rich. Lousy strategy Andy Cook!

  5. AlanB, this is how it works...A corporate welfare queen makes a tiny contribution to the arts and gets tons of positive media from outlets like the IBJ. In turn, they are more easily to get their 10s of millions of dollars of corporate welfare (ironically from the same people who are against welfare for humans).

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