Real Estate & Retail

Report: Simon may drop General Growth bid

April 12, 2010
Bloomberg News
Shares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
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Historic Landmarks to announce move, name change

April 12, 2010
Kathleen McLaughlin
Historic Landmarks Foundation of Indiana is expected to announce Tuesday that it will move its headquarters to the Old Centrum at 12th Street and Central Avenue in Indianapolis.
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Area home sales, prices continue to improve

April 12, 2010
Scott Olson
Sales agreements in the nine-county area rose last month by 10.6 percent, compared with the same month last year, while prices jumped 12.1 percent.
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Lilly sets date for move from Faris campus downtown

April 12, 2010
Work force reductions, new business structure make leased office space unnecessary. Moves will begin in late June.
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INSIDE DISH: Harried chef at R bistro tries to keep it fresh

April 9, 2010
Mason King
InsideDish_Rbistro_WVIn IBJ's new video feature on front-burner business issues that vex restaurants, Regina Mehallick of downtown's R bistro mulls the financial and personal demands of running a chef-owned eatery with a menu that changes every week.
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Steak n Shake unveils new restaurant prototype

April 9, 2010
Cory Schouten
The company now known as Biglari Holdings Inc. on Thursday unveiled a new prototype for future Steak n Shake restaurants. CEO Sardar Biglari said the goal is to open about 1,500 new franchise locations in the coming years.
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Financial backer agrees to drop suit against Lauth

April 8, 2010
Scott Olson
Affiliates of Lauth's largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit against the Indianapolis-based developer, and also withdraw a request to have a Chapter 11 trustee appointed.
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UPDATE: Steak n Shake shareholders OK name change

April 8, 2010
Cory Schouten
Steak n Shake Co. shareholders on Thursday approved changing the parent company’s name to Biglari Holdings Inc. Shares begin trading under the new name on Friday.
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Steak n Shake CEO woos investors in New York City

April 8, 2010
Cory Schouten
Steak n Shake Co. doesn't operate a single restaurant in New York City, where it is hosting its annual meeting Thursday. But the world financial capital is chock full of high-profile investors intrigued by Steak n Shake CEO Sardar Biglari's plans to harvest cash from the 485-location restaurant chain and deploy it on other investments.
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City's No. 2 real estate agency changes brands

April 8, 2010
 IBJ Staff
Century 21 Realty Group is now Prudential Indiana Realty Group, affecting 418 agents in 12 offices around Indiana.
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Shelbyville insulation company laying off 100 workers

April 8, 2010
Knauf Insulation will idle employees in June for at least six months, as demand for its building products remains soft.
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Carter Lumber plans to hire as many as 100 in Franklin

April 7, 2010
J.K. Wall
Ohio-based Carter Lumber plans to open new wholesale lumberyard and truss-making facility in Franklin in June.
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Fishers company agrees to pay $5.5M in concrete case

April 6, 2010
Scott Olson
Builder's Concrete & Supply will pay the amount as part of a larger $60 million settlement lawyers reached with seven companies accused of fixing concrete prices.
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New tenant-rep group plans commercial during Masters

April 6, 2010
Cory Schouten
One of the city's top office brokers is launching a new tenant-rep group with a TV commercial after the Masters golf tournament on Sunday.
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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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