Real Estate & Retail

Owner of controversial Geist billboard sues city

July 11, 2014
Scott Olson
The company is seeking nearly $1 million from the city after it was forced to remove the billboard, even though it conformed to zoning guidelines for the property.
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Butler to build new residence hall, parking garage

July 11, 2014
Scott Olson
The projects are part of a larger plan to add more student housing, possibly construct a larger facility to house the university's business school and renovate existing academic buildings.
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Chicago firm closes on $120M acquisition of Precedent park

July 10, 2014
Scott Olson
LaSalle Investment Management now owns the second-largest office complex in Indianapolis. It hit the market after a bitter legal dispute between its former owner and locally based HDG Mansur.
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HHGregg ditches ad campaign, returns to former agency

July 9, 2014
Scott Olson
The Indianapolis-based retailer is going back to Zimmerman Advertising a year after parting ways with the firm and just two months after unveiling a "brand transformation."
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Duke unloads office buildings for $150M, report says

July 8, 2014
 IBJ Staff
The six Duke Realty Corp. properties in the Cincinnati area included the 403,000-square-foot Towers of Kenwood development, which sold for $69.2 million, according to the Cincinnati Business Courier.
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Carmel developer sinks $66M into four senior communities

July 8, 2014
Scott Olson
Leo Brown Group opened two facilities in Indianapolis and Avon in June, and has started construction on two similar projects in Ohio and Kentucky.
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Multifamily projects abound in Chatham Arch, Lockerbie

July 8, 2014
Scott Olson
The four projects, one of them condominiums, would add nearly 280 units within about a four-block stretch from East Michigan Street north to Massachusetts Avenue.
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First Financial nabbing new hub, closing 3 branches

July 7, 2014
Mason King
Cincinnati-based First Financial Bank is shuffling its operations in the Indianapolis area, including moving its regional hub to a new downtown location and opening a high-profile branch in the same building.
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Ambrose snags vacancy-plagued Meridian Street property

July 5, 2014
Scott Olson
Ambrose Property Group Inc. is doubling down on the struggling downtown office market by purchasing its second property within six months.
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Milhaus starts project in Oklahoma CityRestricted Content

July 5, 2014
The $42 million project is Milhaus' second mixed-use project outside the Indianapolis area.
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State sits on prime downtown property near Statehouse

July 5, 2014
Kathleen McLaughlin
Three locally based firms responded to a state request for private-sector parking management, plus the construction of new spaces, by proposing mixed-use buildings for a 3.2-acre lot north of the Statehouse, according to response documents made public late last month.
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Good Earth avoids $1M judgment over Broad Ripple project

July 2, 2014
Scott Olson
Browning Investments had sought to make the health food store and a Broad Ripple resident post a $925,000 bond to cover costs related to construction delays stemming from an appeal related to the apartment-and-retail project.
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Kite completes $1.2B Inland acquisition

July 1, 2014
 IBJ Staff
The deal swells Kite’s roster of properties to more than 130, giving it a higher profile, greater operating efficiencies and more clout in negotiations with tenants.
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New airport-area hotel will be rarity in market

July 1, 2014
Scott Olson
Holladay Properties and Schahet Hotels Inc. are partnering on a new full-service Holiday Inn that's expected to open early next year.
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Officials: Indiana's limestone industry on upswing

June 28, 2014
Associated Press
The limestone industry is thriving again with many companies reporting orders are up following a drop in business during the recession, a trade association spokesman says.
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Home buyer tastes have shifted since housing bust

June 28, 2014
Scott Olson
Old standbys are have been replaced by new features and colors. The changes range from rooms to styles.
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Mansion restoration is dream come true for new owners

June 28, 2014
Sam Stall
David and Alice Berger have sank more than five years of effort into bringing the former Lacy property back to its industrial era grandeur.
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At-Home Quarterly Marketplace

June 28, 2014
See the prices Indianapolis-area houses are selling for along with the most expensive recent sale, and a map of where people born out of state are most likely to live.
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East-side associations fight gas-station plan

June 28, 2014
Scott Olson
A property owner’s plans to convert the northwest corner of East 10th Street and Emerson Avenue into a convenience store and gas station are causing consternation among neighborhood leaders who hope to stop the project.
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Regional Operations Center back in business at Eastgate

June 27, 2014
Kathleen McLaughlin
Indianapolis Public Safety Director Troy Riggs is scheduled to lead a media tour of the reopened Regional Operations Center on Friday afternoon.
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Simon sues insurance companies over fatal escalator accident

June 27, 2014
Scott Olson
The mall manager has filed a lawsuit against two insurance companies claiming they should have covered its loss stemming from a teenager's escalator fall in 2009.
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Finish Line reports strong quarter as same-store sales rise

June 27, 2014
Associated Press
Sales at stores open at least a year climbed 5 percent, and the company's website improvements and relationship with Macy's also helped to drive profit.
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Airport in talks with user for 149-acre site

June 26, 2014
Kathleen McLaughlin
A deal to lease most of the land has momentum, according to an Indianapolis International Airport official. The city had been eying the parcel for its criminal justice complex.
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Muncie launches 'quiet zone' push to benefit hotel

June 26, 2014
Associated Press
Muncie's push would benefit a $40 million Courtyard by Marriott hotel slated for a groundbreaking later this year and set to open in fall 2015 just north of CSX Transportation and Norfolk Southern tracks.
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Developer requesting $1M over Broad Ripple project delays

June 25, 2014
Scott Olson
Browning Investments Inc. is seeking the damages from opponents of its proposed $30 million apartment-and-retail projects for costs related to construction delays due to a pending appeal.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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