Real Estate & Retail

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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Denny's proxy fight follows Steak n Shake template

May 4, 2010
Cory Schouten
A group of dissident investors is trying to wrest control of the Denny's restaurant chain using the same formula that led to a successful takeover of Steak n Shake.
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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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Mass Ave project on verge of approval

May 4, 2010
Tom Harton
The addition of an underground parking garage is likely to get Trail Side off the drawing board and under construction.
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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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Connector bridges gap between convention center and stadiumRestricted Content

May 1, 2010
Norm Heikens
Designers of a walkway that connects the buildings are making the experience as attractive as possible in order to overcome the psychological barrier of moving from one building to another.
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All Things Automotive aims for national reach, 20 stores by year-endRestricted Content

May 1, 2010
Chris O'Malley
GM's axing of its Saturn brand may fuel the nationwide emergence of an Indianapolis-based used-car franchisor. The first All Things Automotive franchise will open this month in Fishers, at the former Saturn store owned by Lockhart Automotive Group.
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Area reaches end of an era for church constructionRestricted Content

May 1, 2010
Kathleen McLaughlin
The $16.5 million worship auditorium that Northview Church in Carmel opened last month may be the last major church-related project completed in central Indiana for years. Although many projects were finished before the recession, churches, which usually pay for much of construction in cash, struggled to collect pledges.
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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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INSIDE DISH: Papa Roux pops after stumbling at the start

April 30, 2010
Mason King
PapaRoux_WatchvideoArt Bouvier fled his corporate IT gig to open a small Cajun place without a business plan or prior restaurant experience. After a number of blunders, Papa Roux looks like it will pan out.
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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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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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