Real Estate & Retail

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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Central Indiana home sales up slightly in first quarter

April 27, 2010
Homes sold in the first three months of the year totaled 4,634, a 1-percent increase from the 4,593 in the same period last year. However, total sales volume jumped 12 percent, to $637 million.
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Homeowners need to re-file for Homestead tax break

April 27, 2010
Scott Olson
The goal of the new law is to reduce tax fraud from Hoosiers who file for the Homestead deduction on more than one residence.
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Architect finds new path as real estate struggles

April 27, 2010
Tom Harton
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned firm with 120 architects.
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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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Franklin residents still struggle with solution for flooded land

April 25, 2010
Associated Press
Crews will begin in late April demolishing the first of 74 homes south of downtown Franklin damaged by massive flooding in June 2008. Officials still haven't decided how to reuse the land, and residents are torn.
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Carmel City Center gaining momentum

April 24, 2010
Cory Schouten
Thirteen years after Mayor Jim Brainard first described his vision for a new downtown along Range Line Road, Carmel City Center is starting to look like a city.
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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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Many retail locations plagued by vacanciesRestricted Content

April 24, 2010
Scott Olson
Vacancy rates unseen in 20 years are hampering efforts by developers.
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With five new acquisitions, Skillman builds car-lot dynastyRestricted Content

April 24, 2010
Peter Schnitzler
Ray Skillman bought five car lots in the last 12 months from other dealers who have struggled during the recession. Skillman now ranks among the five largest dealers in the area, and his chain is poised for even more growth.
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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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INSIDE DISH: Mug-n-Bun rides on 50-year formula

April 23, 2010
Mason King
MugnBun_WatchVideoIBJ's new video feature on restaurateurs tries curbside service at Speedway's Mug-n-Bun, unchanged in concept since the 1960s but now sporting subtle tweaks.
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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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Santorini owner realizes 'American Dream' with national honor

April 21, 2010
Scott Olson
Fountain Square eatery owner Taki Sawi is one of only three restaurant operators to receive an award given by National Restaurant Association every two years.
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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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Marsh renews effort to sublease headquarters

April 20, 2010
Tom Harton
Most of the 148,000-square-foot building just north and east of the 96th Street/Interstate 69 interchange is empty.
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Simon's General Growth plan 'crazy,' fund manager says

April 19, 2010
Bloomberg News
Bid to invest in General Growth Properties would give Simon too much control over its biggest competitor, said fund manager Bruce Berkowitz, who's backing a rival plan.
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Higher-priced home sales on the rise

April 19, 2010
A total of 242 homes in the nine-county area sold for at least $250,000 last month, an increase of 23.5 percent from the same time last year.
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Lender suffers own painful loss after homeowner's deathRestricted Content

April 17, 2010
Greg Andrews
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
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Historic preservation group poised to expand roleRestricted Content

April 17, 2010
Kathleen McLaughlin
Historic Landmarks' endowment is down sharply, but executives believe they can afford to take on the cultural-events-center project.
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Biglari's comparisons to Buffett debatedRestricted Content

April 17, 2010
Cory Schouten
Sardar Biglari has copied some of the trademarks of his investing idol, Warren Buffett, including a folksy annual letter to shareholders. But Biglari is just starting his career and already is showing signs of taking a different approach than that of the Oracle of Omaha.
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  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

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