Real Estate & Retail

Noble Roman's boosts profit in 2009

March 17, 2010
 IBJ Staff
Indianapolis-based Noble Roman's Inc. improved its bottom line in 2009, reporting a $1.7 million profit despite revenue that dropped 16 percent to $7.5 million.
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Simon weighs new General Growth bid, sources say

March 17, 2010
Associated Press
Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival shopping mall owner General Growth Properties Inc. as early as this week.
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Judge: Bren Simon can't liquidate Simon Property holdings

March 16, 2010
Greg Andrews
A Hamilton County judge says Mel Simon’s widow can’t cash in partnership units worth more than $500 million.
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Bakehouse drives growth for Scholars Inn

March 16, 2010
Peter Schnitzler
Bakehouse watch
                           video
                           iconScholars Inn’s growth engine is its wholesale bakery, which distributes granola and other fresh products across state lines thanks to deals with partners like Kroger.
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Former Summit House apartment tower sold

March 16, 2010
Tom Harton
The landmark apartment building at 38th and Meridian streets formerly known as Summit House has been purchased by a pair of Chicago investors who plan to invest  “a significant amount of capital” into the 20-story tower.
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Custom builders, banks convene to discuss lending environment

March 16, 2010
Tom Harton
The Builders Association of Greater Indianapolis is trying to jump-start new home construction by convening a forum on how builders can adapt to banks’ stricter lending requirements.
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No buyers surfacing for former Winona Hospital

March 15, 2010
As of Monday morning, the Marion County Metropolitan Development Commission had received no bids to buy the property. MDC is set to begin reviewing bids at its Wednesday meeting.
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Simon, rival seek foreign investors to back General Growth bid

March 15, 2010
 IBJ Staff
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial Times of London.
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Local luxury home sales jumped in February

March 15, 2010
Kathleen McLaughlin
Luxury home sales in central Indiana surged in February despite an overall decline in home sales, Re/Max of Indiana reported Monday morning.
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Brizzi's lease deals benefited friend, donor

March 13, 2010
Cory Schouten
Records show Marion County Prosecutor Carl Brizzi directed lucrative work for the Prosecutor's Office to his friend, business partner and political contributor John Bales.
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Recycler J. Solotken & Co. recycles old building

March 13, 2010
 IBJ Staff
Century-old firm moves from facility it had occupied since 1936 to former home of Frank E. Irish Co.
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Carmel contractor offers scholarshipsRestricted Content

March 13, 2010
 IBJ Staff
Carmel-based Williams Comfort Air, a heating and cooling contractor, is accepting nominations for its Extraordinairy Treasures annual scholarship program. Six one-time scholarships totaling $5,000 will be awarded to high school seniors based on community service, leadership activities and family commitment.
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Indianapolis Housing Agency pulls off big tax credit deal

March 13, 2010
Tom Harton
City agency plans renovations, expansions at eight apartment properties.
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Marine tech unit to fill four floors at struggling M&I Plaza

March 13, 2010
Cory Schouten
A 10-year, $20 million deal for a civilian division of the U.S. Marine Corps to occupy four floors of the 28-story M&I Plaza building downtown will push the city's sixth-largest office tower from a woeful 30-percent occupancy rate to about 50 percent.
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Carpenter Realtors trots out smart phone technology

March 13, 2010
 IBJ Staff
Specialized bar codes will be on Carpenter materials ranging from print advertisements to yard signs.
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Simon says new General Growth plan is less uncertain

March 11, 2010
Bloomberg News
A new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property Group Inc. has criticized, Simon CEO David Simon says.
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Area home sales, prices show increase

March 11, 2010
The housing market could be awakening from its deep sleep, if February home-sale agreement figures are any indication.
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Former Saturn franchise in Fishers enters new orbit

March 11, 2010
Chris O'Malley
An All Things Automotive franchise is replacing Saturn of Fishers. The concept, aimed particularly at displaced Saturn dealers, involves used-car sales and service bays stocked by Carquest.
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Lawyers in Simon estate case fight over what should be public

March 10, 2010
Greg Andrews, Cory Schouten
Parties disagreed over public disclosure in the first major court hearing in the dispute over how to divide the billionaire's fortune.
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Delta Faucet cutting 40 more jobs at Greensburg plant

March 10, 2010
The Carmel-based company said its decision to consolidate machining activities at a plant in Tennessee is driven by weak retail sales and a sluggish housing market.
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Huge tax-credit deal will fund rehab of 538 apartment units

March 9, 2010
Tom Harton
The largest tax credit deal in state history will fund the rehabilitation of 538 apartments in four complexes owned by the Indianapolis Housing Agency.
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General Growth investors add $3.93B to Brookfield plan

March 8, 2010
Bloomberg News
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
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Timber industry seeks respect, profit from 'green' standards

March 6, 2010
Chris O'Malley
Why should bamboo imported from Asia or steel made through intensive use of energy be consider greener than locally grown trees? timber interests ask.
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Simon Property CEO uses hard-nosed style to excel at acquisitions

March 6, 2010
Cory Schouten
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property Group Inc. into the nation's largest mall owner—is trying to land his biggest deal yet.
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Motorsports park proposed for southwest side of Indy

March 6, 2010
 IBJ Staff
Plans call for a Motocross track, one-fifth-mile dirt track and ATV trails on 36 acres near Interstate 465 and Mann Road.
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  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

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