Real Estate & Retail

RadioShack closing 1,100 stores as troubles grow

March 4, 2014
Associated Press
The closures represent just the latest setback for RadioShack, which has been struggling to update its image and compete with the rise of online retailers in recent years.
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Indiana Landmarks rescues endangered Jewish landmark

March 4, 2014
Scott Olson
The preservation group paid $50,000 to rescue the near-north side temple on Ruckle Street, which was first occupied by the Beth-El congregation. After a roof replacement, officials hope to find a tenant for the historic building.
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House passes moratorium on nursing home construction

March 3, 2014
John Sittler, The Statehouse File
The bill passed 55-40 and now returns to the Indiana Senate, which has already passed the bill and can now approve changes made by the House or send the bill to a conference committee for further consideration.
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Committee urges hiring commitment for $81M MSA tower project

March 3, 2014
Scott Olson
A City-County Council committee recommended approval for the 28-story building but only if the developer pledges that 30 percent of the workers it hires to build the tower live in Marion County.
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Former Simon exec sentenced in mail fraud scheme

March 3, 2014
Scott Olson
Carmel resident Mark Palombaro received a sentence of 18 months in a federal prison for perpetrating a construction kickback scheme in Pennsylvania that prosecutors say netted him $766,000.
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Indiana mall's 'hoodie' signs offend some patrons

March 2, 2014
 Associated Press and IBJ Staff
The signs at the entrances of the Mounds Mall in Anderson state that, "For the safety & well-being of everyone, please lower your hoodie."
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Council hopes historic value nixes IU land swap

March 2, 2014
Associated Press
Bloomington leaders would like a proposed new historic designation to persuade Indiana University to think twice about a land-swap plan that could include razing six houses to make way for a new fraternity building.
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Apex credits door-to-door pitch for windows-sales successRestricted Content

March 1, 2014
Andrea Muirragui Davis
The company eschews traditional—and expensive—mass marketing in favor of face-to-face solicitations.
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Kite floats two-tower Pan Am Plaza projectRestricted Content

March 1, 2014
Scott Olson
The latest plan to redevelop Pan Am Plaza calls for two hotels, residential units and restaurants spread across two towers as tall as 20 stories each, sources familiar with the details told IBJ.
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IndyGo unveils design of $20M downtown transit center

February 27, 2014
Scott Olson
Construction of the hub, which Mayor Greg Ballard noted Thursday in his annual State of the City address, is set to begin this fall with completion expected by the end of 2015.
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Simon names spinoff Washington Prime Group, picks CEO

February 25, 2014
 Bloomberg News and IBJ Staff
Simon Property Group Inc. has chosen the name for its planned spinoff of strip shopping centers and smaller enclosed malls, and hired Mark Ordan to be the new company’s CEO.
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State Auto's Midtown HQ building on block

February 25, 2014
Scott Olson
State Auto Insurance is seeking to sell its nearly 200,000-square-foot regional headquarters building in Midtown and is listing the property for $9.1 million.
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Office space shrinking in Indianapolis areaRestricted Content

February 22, 2014
Jeff Newman
Technology and work habits are prompting firms to squish space allotted to workers.
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Fishers' mayoral candidates disagree on best growth strategyRestricted Content

February 22, 2014
Andrea Muirragui Davis
The six Republicans vying to be Fishers’ first mayor fall into two camps on the key issue of growth: those who support recent efforts to spur business activity downtown, and those who advocate a more hands-off approach.
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ExactTarget mulls building downtown tower

February 22, 2014
Scott Olson
ExactTarget Inc. is evaluating downtown sites where it could build a headquarters tower as large as 500,000 square feet, real estate brokers familiar with the discussions told IBJ.
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UIndy plans $50M in expansion projects

February 21, 2014
J.K. Wall
The bulk of the money, to be spent over five years, will go to a 134,000-square-foot health sciences center, which will provide training space for the university's nursing, physical therapy and other health care students.
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Indy airport signs new eateries, considers nixing e-cigarettes

February 21, 2014
Kathleen McLaughlin
Indianapolis International Airport officials agreed Friday to unload Giorgio's and two Cold Stone Creamerys in favor of three new food vendors. They also considered several tough tweaks to the facility's smoking ban.
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Weaver's site sale could lead to Broad Ripple village-park connector

February 21, 2014
Scott Olson
Weaver's Lawn & Garden Shop at 1316 Broad Ripple Ave. has been in business for decades. Now that family members have sold the property, local leaders hope the land eventually can serve as a recreational link.
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New Jersey firm pays $30.2M for Plainfield warehouse

February 20, 2014
Chambers Street Properties purchased the 622,440-square-foot distribution center completed early last year. Hartz Pet Products occupies the entire space.
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Indy officials work to strengthen rental-property inspection bill

February 19, 2014
Kathleen McLaughlin
A proposal under consideration by the Legislature would curb rental-property inspection programs, but local officials worked with its author to let cities set up landlord registries.
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Prosecutors want to keep $3.4M from El Rodeo raids

February 19, 2014
Associated Press
Civil forfeiture lawsuits have been filed in Tippecanoe and Marion counties, accusing the Mexican restaurant owners and others involved with the businesses of illegally obtaining the money.
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Dunham's $30M expansion in Marion to create 135 jobs

February 19, 2014
 IBJ Staff
The sporting good retailer, which has more than 200 stores in 17 states, will consolidate distribution into a new, 735,000-square-foot building.
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Broad Ripple brokers propose office project on College Avenue

February 18, 2014
Scott Olson
Scott Lindenberg and Thomas Willey want to replace two rental homes they own just north of Kessler Boulevard with a 5,700-square-foot, two-story office building.
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Developer pitches $28M project for Fishers Train Station site

February 17, 2014
Andrea Muirragui Davis
Officials are expected to vote Monday night on a proposed $28 million redevelopment of the Fishers Train Station site, the final piece of an ambitious plan that seeks to transform the town’s municipal complex into a hub of activity.
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Central Indiana home sales start year on chilly note

February 17, 2014
Scott Olson
Home-sale agreements plummeted 31 percent in January, likely due to the record snowfalls and cold temperatures.
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