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Real Estate & Retail
Premier not afraid of going head-to-head with Simon
October 1, 2007
Cory SchoutenPremier Properties USA Inc. is preparing to go head-to-head with Simon Property Group Inc., the nation's largest and most
powerful mall developer, across the street from Simon's top-performing The Fashion Mall at Keystone. Premier is proposing
a 2.3-million-square-foot, $750 million development at 86th Street and Keystone Avenue called Venu.
MoreTo weather downturn, housing industry rolls out incentives
October 1, 2007
Sam StallFor most of this decade, the Indianapolis residential real estate market enjoyed a very good run. But now it's muddling through
the doldrums just like the rest of the country, and builders are pulling out all the stops to avoid getting stuck with inventory.
MoreNavigating the credit crunch: Will subprime woes leave you dry? Here's what to look for.
September 24, 2007
Scott OlsonFor months, we've been reading and hearing news about the so-called subprime mortgage crisis and the resulting "credit crunch."
For thousands of families who have lost their homes to foreclosure, the crisis is clear. For most people, however, the impact
isn't so obvious. Beyond those directly affected by mortgage defaults, who else should be concerned about the aftershocks?
Some economic forecasters are warning that the subprime mortgage situation and the ongoing weakness in the housing market
could linger long enough...
MoreFiercely private developer built strip-center empire
September 24, 2007
Cory SchoutenSid Eskenazi fell in love with the board game Monopoly as a child. Buying and developing make-believe properties with make-believe
money inspired the grade-schooler. And he was good at it. So several years later, Eskenazi began playing what he likes to
call "adult Monopoly." He bought one property at a time with real money.
MoreEYE ON THE PIE: Give tax relief to those who truly need it
September 24, 2007
Morton MarcusNo topic brings me more mail than property taxes. Some of this mail is silly, some is tragic. Many writers are concerned that
they or their neighbors will lose their homes because of propertytax increases. This is a serious, legitimate concern. However,
it is not a reason to abolish property taxes. Those who are hard-pressed to pay their property taxes are not different from
those who have problems paying utility bills, medical bills, and the costs of other necessities. These...
MoreCity paves way to redevelop Bush Stadium site
September 17, 2007
Peter SchnitzlerIndianapolis has initiated the redevelopment process for Bush Stadium, its shuttered sports landmark. The Metropolitan Development
Commission has hired a pair of local firms for $25,000 to appraise historic Bush Stadium--a first step toward reuse or, more
likely, at least partial demolition.
MoreHeart or head?: Intellect, emotions play role in most biz-location decisions
September 17, 2007
Sam StallIthe process of f n theory, retail, office or industrial location as should putting be as rational and unemotional reality,
emotions together a spreadsheet. But in as hard data. can carry just as much weight "People use very sophisticated uildings
processes , but in and evaluations to compare b ," s as much of an art as a science the end, it' . Smith, CEO eteran Samuel
F said industry v Commercial of Indianapolis-based Resource aspect of it Real Estate...
MoreTownship wrestles with incorporation: As Greenwood, Bargersville annex commercial corridors, rest of township declines
September 17, 2007
Anthony SchoettleWhite River Township in northwest Johnson County is dotted with an increasing number of high-priced homes and anchored by
one of the area's strongest school districts. But the area, known as Center Grove, also is marked by crumbling roads, poor
drainage and an anemic parks system. To preserve its strengths and shore up its growing weaknesses, some in the area think
White River Township needs to incorporate into its own city. The township of more than 40,000 residents faces the...
MoreMCL spending $1M to freshen its image
September 17, 2007
Peter SchnitzlerAfter 12 months of market research, MCL cafeterias discovered younger folks and families aren't familiar with the taste of
the Mayfield's Value Plate or the Noon Special. So the company has launched a $1 million campaign to reposition its brand.
More24-year-old developer tackles $30M deal
September 10, 2007
Cory SchoutenJaron Garrett hasn't developed anything like the 25-story tower he's proposing. And he doesn't come close to having the financial
muscle to pull off the $30 million project on his own. But Garrett is determined to sell his vision of transforming a downtown
eyesore at Washington and Pennsylvania streets into a twisting glass-and-steel apartment tower.
MoreMayor says MSA 'not a priority'
September 3, 2007
Cory SchoutenWith the Nov. 6 mayoral election looming, Mayor Bart Peterson seems content to wait for a third term to choose who will redevelop
the Market Square Arena site. He's willing to put off the opportunity to wipe past failures clean in large part because the
political climate has changed.
MorePan Am development deal dies
August 27, 2007
Cory SchoutenFallout from the subprime mortgage fiasco has scuttled a developer's plans to acquire Pan Am Plaza and could complicate a
host of other development deals under way in Indianapolis.
MoreCHRIS KATTERJOHN Commentary: IBJ's Enterprise Award hits 25
August 20, 2007
Giving out awards can be a tricky business. To wit, news broke Aug. 13 that CEO Peter Dunn has left Steak n Shake, a company
we honored in 2005 with our annual Enterprise Award. A good chunk of the credit in our article profiling the company two years
ago was directed at Dunn, an MBA and food-industry veteran who had energized the company with a philosophy that was producing
results. Now he's gone. Do his departure and a decline in...
MoreSteak n Shake expects 'rebuilding year'
August 20, 2007
Cory SchoutenSteak n Shake Co. CEO Peter M. Dunn analyzed and measured just about everything at the restaurant chain, from drive-through
times to employee turnover. All that research and testing was welcome when the company was thriving a few years ago. But the
lack of evidence that all the analysis was paying off eroded Wall Street's confidence in Dunn.
MoreNoble Roman's rebuilds empire through franchising
August 20, 2007
Michael DabneyNoble Roman's Inc. stock this year has been rising nearly as fast as its pizza dough, defying skeptics who'd written off the
long-ailing Indianapolis company. With a new business strategy built on franchising and dual-branded restaurants, Noble Roman's
has seen quarter-to-quarter earnings increase for more than two years.
MoreBusy Lauth develops into national power: Hoosier entrepreneurs fuel growth at real estate firm
August 13, 2007
Cory SchoutenBefore they had fancy suits or fast cars, the four owners of Lauth Property Group were resourceful teen-agers, busy finding
ways to make money. Chairman Bob Lauth, President Michael Curless and CEO Greg Gurnik each started neighborhood lawn-care
businesses. The company's treasurer and chief accounting officer, Larry Palmer, hawked programs at the Indianapolis Motor
Speedway. At the time, their hard work and entrepreneurial instincts helped scrounge up date money. In the last few years,
it's helped them turn Indianapolis-based Lauth...
MoreVOICES FROM THE INDUSTRY: So, you really want to be a real estate developer ...
August 13, 2007
Brian MannReal estate developers have a secret: We're not evil. OK ... we're not all evil This runs contrary to the perception that
some people seem determined to promote. They opine that "good development" is an oxymoron. Development is a humbling business.
It turns out that a lot of people know a lot more about the right way to do development than we do, and they're not shy about
letting us and everyone else know this, in public meetings, private conversations,...
MorePROFILE: LB&A Sign Management: Signs matter Artist helps firms promote their brands
August 13, 2007
Jo EllenLB&A Sign Management Signs matter Artist helps firms promote their brands It takes more than a power drill to put up a company's
sign these days. In most cities and towns, there are ordinances and zoning regulations to comply with and permits to get before
a sign is tacked on the side of a building. Business owners also want their signs to capture the firm's essence-and look good,
too. That's where Lisa Bohn comes in. Bohn, 40, parlayed 15 years'...
MoreINVESTING: Strange time for business: Bad, good news abounds
August 13, 2007
Ken SkarbeckThere is an ancient Chinese proverb that says, "May you live in interesting times." The saying possesses a sort of electric
connotation, with hopes that one experiences an exciting lifetime. Yet in the historical use of this proverb, the interpretation
of "interesting times" hasn't always meant "good times," with some recitals implying "dangerous times." For investors, our
times are certainly interesting. We have a global economy that is booming. Economic growth across the planet has never been
in such harmony....
MoreDid mortgage losses spur sudden First Indiana sale?:
August 13, 2007
First Indiana Corp. announced poor second-quarter financial results Aug. 7-which raises this interesting question: Did the
city's biggest locally owned bank race to sell itself last month because the results otherwise would have caused its stock
to tumble? Even before the earnings report, banking observers were abuzz that the $529 million sale to Milwaukee-based Marshall
& Ilsley Corp. seemed rushed. While many expected First Indiana to sell eventually, CEO Robert Warrington had seemed hellbent
on improving results first to drive...
MoreOffice market vacancy rates showing positive signs: Government leasing boosts downtown performance; suburbs see fast absorption
despite flurry of construction
August 13, 2007
Scott OlsonDowntown and suburban vacancy rates are declining slightly or at least holding steady-a positive sign for an Indianapolis
office market absorbing a plethora of new space on the city's north side. The second-quarter vacancy rate for the central
business district dropped to 15.9 percent, from 16.7 percent the previous quarter, according to data from the local office
of St. Louis-based commercial real estate firm Colliers Turley Martin Tucker. A similar report from the local office of Los
Angeles-based CB Richard...
MoreBeilouny Luxury Properties carves out downtown niche: Propelled by its flagship 757 Mass Ave project, upstart local developer
eyeing more mixed-use projects
August 13, 2007
Cory SchoutenWhen Ed Beilouny bought property at the southwest corner of Massachusetts and College avenues in 1977, many of his friends
and family members thought he was crazy. The neighborhood wasn't much to look at. In the eyes of some, it was downright dangerous.
But Beilouny, who was born in New York, had a vision that would take 30 years to develop. The land is now home to the flagship
building of Beilouny Luxury Properties, a privately held company that has...
MoreInventory tax repeal still being hailed as good decision: Amid rising property taxes, economic development officials and brokers
say taxing inventory was bad policy
August 13, 2007
Scott OlsonWith the state in an uproar over soaring property taxes, some have wondered whether phasing out Indiana's business inventory
tax was a good idea. The phase-out process began in 2002 before completely eliminating the inventory tax this year, taking
with it roughly $380 million in tax revenue shared annually by local governments. Supporters of the move insist lawmakers
made the right decision. And they say Indiana has become more attractive to business as a result. Marion County property-tax
bills were...
MoreClass A towers paying B taxes
August 6, 2007
Cory SchoutenWhen it comes to advertising and marketing, the city's two tallest skyscrapers are Class A, all the way. But throw out that
notion at tax time. The owners of Chase Tower and OneAmerica Tower--and some of the city's other large office buildings--have
successfully lobbied for lower building "grades" that save them big bucks on property taxes.
MoreDealer Services Corp. has rival Adesa taking notice
August 6, 2007
Chris O'MalleyDealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.
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Can IBJ please stop referring to this property as "Kessler Mansion"? What a ridiculous title for the biggest, bloated, blight in our city. It's not a mansion. At best, it's an ideal site to shoot low-budget porn. Ahhh! Another business use!
Its stories like these that prove that a Ball State diploma is worth less than the paper that its printed on. A real institution of higher learning would have taken care of this long ago. No way should this crap be taught in a SCIENCE class.
It is such a shame that King Ballard has made Indianapolis into Chicago south with all of the rampant corruption.
How many of these 1,259 bills were actually heard and voted on on the floor vs how many were shot down in committee?
When a an arrogant young guy with essentially no experience and no qualifications for the job, was dropped into an Administrator position out of nowhere by his "mentor" in the Mayor's office things seemed fishy. Sometimes things are what they seem.