Real Estate & Retail

Red Key's rules will live on after owner's death

April 5, 2010
J.K. Wall
Russel Settle, 92, was renowned for telling customers at the landmark Red Key Tavern to mind their manners in the northside pub featured in a Dan Wakefield novel.
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Tenant exit leaves Circle Centre 4th floor almost vacant

April 1, 2010
Scott Olson
Departure of GameWorks arcade leaves another 27,000 square feet of vacant space on the mall's fourth floor, which has struggled for years to keep tenants.
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Fishers approves $19M auto mall development

April 1, 2010
Kathleen McLaughlin
The town has agreed to create a tax-increment financing district to help fund infrastructure improvements for Butler Automotive Group's proposed development.
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General Growth's bankruptcy plan makes room for Simon

March 31, 2010
Bloomberg News
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
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Famous handbag maker hits local retailers with lawsuits

March 31, 2010
Kathleen McLaughlin
In an effort to crack down on knockoffs, famous handbag designer Coach Inc. has hit at least three local retailers with trademark-infringement lawsuits.
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Answer to Murat's naming-rights fight likely to be found in lease

March 30, 2010
Kathleen McLaughlin
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank over a naming-rights deal announced March 16.
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Downtown buildings land arts tenants

March 30, 2010
Tom Harton
Vonnegut Memorial Library Inc. will move into 1,100 square feet at 340 N. Senate Ave. The Arts Council of Indianapolis will occupy 5,400 square feet at 922 N. Pennsylvania St.
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Fishers Town Council delays vote on $19M auto mall

March 29, 2010
 IBJ Staff
If the council gives its blessing, construction could begin this spring on Butler Automotive Group's five-dealership development along State Road 37. About 230 jobs could be created.
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Severance boosts pay of former Duke Realty exec

March 29, 2010
Peter Schnitzler
Duke Realty's former chief operating officer took home $3.1 million last year. The office, industrial and retail property owner and manager also awarded raises to its CEO and the rest of his management team.
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Engeledow Group acquires estate landscaper

March 29, 2010
Kathleen McLaughlin
Engledow Group, one of the Indianapolis area's largest landscape companies, has acquired Litchfield Landscape Co. to bolster its estates division.
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Tax-break deadline spurs spec homes in Parade

March 29, 2010
Scott Olson
This spring's Parade of Home is being held about two weeks earlier than normal to help builders lure homebuyers who want to take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking chances on more spec homes.
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General Growth preparing to file finance plan

March 29, 2010
Bloomberg News
General Growth is weighing options to exit Chapter 11 protection, with competing bids from Indianapolis-based Simon Property Group Inc. and Brookfield Asset Management Inc.
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Former Thomson plant back in bankruptcyRestricted Content

March 27, 2010
Cory Schouten
A Bloomington investor bought the sprawling complex out of receivership in 2008, and had hoped to spend more than $20 million to renovate it.
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Big payday for lawyers in concrete price-fixing case irks Duke

March 27, 2010
Greg Andrews
Duke Realty is fighting a request to award an additional $9.7 million in attorneys' fees, calling the amount excessive.
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Simon Property hiked CEO's pay 34.7 percent last year

March 26, 2010
Peter Schnitzler
David Simon's $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management team's pay declined or remained flat.
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Lugar Tower project delayed by lack of tax credits

March 26, 2010
Scott Olson
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
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Finish Line reports big jump in sales, profit

March 25, 2010
Cory Schouten
Shares of athletic retail specialist The Finish Line Inc. were soaring in after-hours trading Thursday after the company reported strong fourth-quarter sales and a growing pile of cash on its pristine balance sheet.
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Judge tosses fraud claim in Mel Simon estate case

March 25, 2010
Greg Andrews
Judge William J. Hughes ruled Deborah Simon failed to make her claim with “sufficient specificity.”
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Local beverage entrepreneur retrenches with new venture

March 25, 2010
Scott Olson
J. Smoke Wallin launches Pelican Brands LLP to help booze companies market and distribute their products after his attempts to acquire underperforming brands fizzled due to the credit crunch.
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Fishers Town Council set to review auto mall plans

March 25, 2010
Butler Automotive Group is proposing a $19 million development along Indiana 37 that could include five auto dealerships and create about 230 jobs.
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Longtime F.C. Tucker president retiring

March 23, 2010
Scott Olson
Fred Tucker, who has led F.C. Tucker Co. since 1986, will leave the company April 1 and hand the reins to business partner H. James Litten.
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Another General Growth suitor enters fray

March 23, 2010
Bloomberg News
Elliott Associates LP and Paulson & Co. are said to be discussing a plan to team with Brookfield Asset Management Inc. to bring mall owner General Growth Properties Inc. out of bankruptcy, competing with Simon Property Group.
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Receivership business picks up for property managers

March 23, 2010
Tom Harton
Companies hired by the courts to manage properties in financial distress are benefiting as the number of such properties grows.
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Insurer lending $7M for east-side Super Bowl project

March 22, 2010
Scott Olson
The aim is to spur redevelopment on the city's blighted near-east side before the 2012 Super Bowl is played in Indianapolis.
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Prosecutor Brizzi defends no-cost real estate deal

March 20, 2010
Cory Schouten
Marion County Prosecutor Carl Brizzi paid nothing for a 50-percent stake in an Elkhart office building he acquired with a local defense attorney.
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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

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