Commercial Real Estate

Resource lands Colliers affiliation

May 11, 2010
Cory Schouten
Resource Commercial Real Estate, which will remain locally owned and operated, will be known as Colliers International effective immediately, the company said.
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Cabela's revs up expansion, but leaves Greenwood off list

May 10, 2010
 IBJ Staff
The Nebraska-based outdoor retailer plans to open new stores again after a two-year, recession-induced halt on expansion. But the company is not reviving its plan for the 96-acre plot it owns in Greenwood.
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TAYLOR: Reform will drive demand for health care facilities

May 8, 2010
Deeni Taylor
There has been a noticeable uptick in the level of health care real estate development activity this year.
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MOUNAYAR: Indianapolis should rediscover public spaces

May 8, 2010
Michel Mounayar
Too few of the city's revitalization projects are connected by attractive sidewalks, streets, gardens and plazas.
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Mass Ave project adds garage, wins approvalRestricted Content

May 8, 2010
Tom Harton
Work could begin this fall on $10 million Trail Side complex.
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Simon withdraws bid for General Growth

May 7, 2010
 IBJ Staff and Bloomberg News
Indianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
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General Growth still backing Brookfield despite new Simon bid

May 7, 2010
Bloomberg News
General Growth Properties Inc. rejected Simon Property Group Inc.'s "best and final" offer.
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Simon Property makes 'final' General Growth offer

May 6, 2010
Bloomberg News
Simon Property says its latest offer is worth $6.5 billion, or $20 a share, for General Growth. It had last offered $18.25 a share.
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Kite reports first-quarter loss on lower revenue

May 6, 2010
Developer's $1.1 million loss in the first quarter reflected lower construction activity and lower gains on land and outlet sales.
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General Growth hearing delayed as Simon makes new bid

May 4, 2010
Bloomberg News
General Growth said the hearing before U.S. Bankruptcy Judge Allan Gropper has been moved from Wednesday to Friday.
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City targets Georgia Street for $12.5M makeover

May 4, 2010
The project will create an event-friendly corridor from the expanded Indiana Convention Center to Conseco Fieldhouse.
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Simon Property steps up fight for General Growth

May 4, 2010
Bloomberg News
The latest proposal is the Indianapolis-based company's third attempt to buy or gain a piece of the No. 2 mall owner.
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General Growth backs new Brookfield plan over Simon offer, source says

May 3, 2010
Bloomberg News
General Growth Properties Inc. plans to back a revised bankruptcy exit plan proposed by Brookfield Asset Management Inc. over a competing offer by Simon Property Group Inc.
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Work begins on Penn Arts apartment, retail project

May 1, 2010
 IBJ Staff
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two equity partners for the project because banks were unwilling to lend.
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Simon Property cooperating With FTC on Prime Outlets inquiry

April 30, 2010
Bloomberg News
Some retail tenants of outlet malls are concerned about Simon gaining too much market power should its acquisition of Prime Outlets be approved.
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Simon Property earnings fall on debt-retirement expenditures

April 30, 2010
Bloomberg News
Funds from operations fell to $325.6 million, or 94 cents a share, from $476.8 million, or $1.61 a year earlier, the Indianapolis-based shopping mall giant said Friday morning.
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Duke Realty reports leasing at 5-year high

April 29, 2010
Cory Schouten
Duke Realty Corp. handled more leasing activity last quarter than it has in any first quarter in five years, the locally based real estate investment trust said on Wednesday.
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Blackstone may join General Growth plan, Simon says

April 27, 2010
Bloomberg News
Simon Property Group and Blackstone Group LP are in "ongoing discussions" for an investment in General Growth after the mall operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
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General Growth hearing delayed to weigh bids

April 26, 2010
Bloomberg News
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon Property Group.
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Politically connected broker's deals raise conflict questions

April 24, 2010
Cory Schouten
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions on the sale of surplus state properties. He also acted as a developer for public-sector tenants—putting them into buildings owned by him or his associates.
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A new real estate crisis could wreck recoveryRestricted Content

April 24, 2010
Greg Andrews
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due by the end of 2014.
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Local firm's Carolina development slides into bankruptcy

April 22, 2010
Scott Olson
Owner of Flaherty & Collins' apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It's the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
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Simon adds $1.1B to General Growth proposal

April 22, 2010
Bloomberg News
Simon Property Group Inc. added four backers to its proposal to help rival mall owner General Growth Properties Inc. emerge from bankruptcy, increasing the plan’s total investment by $1.1 billion.
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Revised Mel Simon estate suit calls Bren 'abusive'

April 21, 2010
Greg Andrews
Melvin Simon’s daughter Deborah is lashing out at her stepmother Bren in a new court filing, saying  she was “mentally and verbally abusive” toward the billionaire late in his life and kept him isolated from friends and family.
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Circle Centre arcade reopens under new ownership

April 20, 2010
Texas-based Tilt Family Entertainment acquires GameWorks chain, which closed last month, leaving gaping hole on fourth floor of mall.
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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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