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Real Estate & Retail
Corporate shopping spree: Massive Guidant deal helps make 2006 a record-setting year for local M&A activity
January 29, 2007
Scott OlsonLast year was a record-shattering period for the Indianapolis-area merger and acquisition market, thanks in large part to
the loss of one public corporation. Guidant Corp.'s acquisition by Boston Scientific Corp. for $28.4 billion last year and
the related sale of its vascular business to Abbott Laboratories for $4.1 billion made the 2006 Big Deals list bigger than
ever. That's because the two deals made up about 85 percent of the $38.5 billion of M&A activity tracked down by the...
MoreA lonely number for IPOs in Indiana: Calumet joins short list of Indiana companies to go public this decade
January 29, 2007
Scott OlsonA little-known refining and petroleum products company on the city's west side has the distinction of being the only company
in the state to go public in 2006. Calumet Specialty Products Partners LP filed its initial public offering last January.
It completed the process in June by selling 5.7 million shares of stock at $21.50 each, ultimately raising $122.5 million.
Shares since have nearly doubled in value, thanks in part to rising prices in the petroleum industry. While Calumet's decision...
MoreChocolatier maintains steady routine between busy seasons
January 29, 2007
Lisa GerstnerEach week at David Alan Chocolatier in Lebanon, three employees make a different variety of chocolate truffles, nut clusters
and other chocolate-laden delights. Alan uses 7,000 pounds of chocolate a year to make his products out of the renovated gas
station he has operated at since 1984.
MoreCHRIS KATTERJOHN Commentary: Greetings from Indianapolis South
January 22, 2007
NAPLES, Fla.-Here I am more than 1,000 miles from Indianapolis and yet feeling right at home. Seems like everywhere I turn,
there are signs of the city. The first night I was here, I ate dinner at a restaurant where six Indianapolis people I know
were sitting at the table next to ours. During the course of my stay so far, American United Life Insurance Co. held a board
retreat here and the St. Vincent Hospital Foundation threw a fund-raiser...
MoreSuburban builder J. Greg Allen to tackle downtown
January 15, 2007
Jennifer WhitsonJ. Greg Allen & Associates has made a name for itself building suburban subdivisions, office buildings and retail complexes.
Now, the developer is poised to tackle a pair of projects downtown.
MoreBlue Crew Sports Grill beating the odds
January 8, 2007
Anthony SchoettleBeing an Indianapolis Colts fan doesn't mean you will necessarily succeed at running a Colts-themed restaurant, but Blue Crew
Sports Grill owners Randy Collins, Dan Dilbeck and Everett Myers aren't ordinary fans. They are three pillars on which one
of the National Football League's biggest fan clubs has been built.
MoreMerging banks to put pressure on downtown real estate: Huntington, Sky to combine offices, but where?
January 8, 2007
Jennifer WhitsonOhio-based Huntington Bank's plans to buy Sky Financial Group Inc. will mean more available office space in a downtown market
already awash in it. "People never merge without reducing their space," said Jeff Harris, president of locally based Meridian
Real Estate. "[This merger] is not going to have a monumental effect overall, but it's just more square feet, another hole
to be filled." Columbus, Ohio-based Huntington Bancshares Inc. announced Dec. 21 that it agreed to purchase Bowling Green,
Ohio-based Sky...
MoreNew owner takes over at Marsh
January 1, 2007
Cory SchoutenMarsh Supermarkets Inc. saw big changes in 2006 as new owners and a new CEO took over, and the Fishers-based company announced
store closures and layoffs. Boca Raton, Fla.-based Sun Capital Partners in October closed on its $88-million purchase of Marsh.
The purchase included the assumption of about $200 million in debt. For the first time since the company's founding in 1931,
a Marsh isn't calling the shots at Marsh Supermarkets. With the deal's closing, Sun installed Frank Lazaran, the...
MoreEYE ON THE PIE: News flash? Indiana continues to lag nation
January 1, 2007
Morton MarcusThe U.S. Department of Commerce put two data sets under my tree the week before Christma. On Wednesday, I got personal-income
data, by state, for the third quarter of 2006 from the Bureau of Economic Analysis. On Friday, the Bureau of the Census sent
me 2006 population estimates for all the states. Could I ask for anything better unless it was the "Complete Works of Alvin
and the Chipmunks"? However, my joy may not be shared by those who have...
MoreCity picks Marriott, passes on Pan Am plan:
January 1, 2007
-Cory SchoutenA willingness to redesign and add rooms to its proposed JW Marriott hotel helped push locally based REI Real Estate Services
and its partner over the top in their quest to build a convention headquarters hotel. The team of REI and Merrillville-based
White Lodging Services Corp. proposed building an 800-room JW Marriott as the centerpiece of a 1,500-room, five-hotel complex
at the site of the existing Courtyard by Marriott hotel at West and Washington streets. A city committee charged with...
MoreCHRIS KATTERJOHN Commentary: IBJ has big plans for coming year
December 25, 2006
This has been a strong year for your local business weekly. We take seriously our mission of providing readers with the best,
most in-depth coverage of local business, so it is with a sense of both pride and gratitude that I report on our most successful
year ever. Editor Tom Harton has called 2006 the Year of the Award. This year, IBJ won 18 news awards-eight of them gold-from
three different organizations. Our coverage was recognized nine times by our...
MoreVerizon amphitheater might be redeveloped
December 25, 2006
Cory SchoutenThe potential redevelopment of Verizon Wireless Music Center in Noblesville could open the door for a new concert venue in
Indianapolis, but industry veterans don't expect it would look anything like the popular Hamilton County amphitheater.
MoreRandy's Toy Shop breathes life into ailing play things
December 18, 2006
Anthony SchoettleRandy Ibey, owner of Randy's Toy Shop in Noblesville, is legendary among antique toy collectors and dealers worldwide. Ibey
can fix more kinds of toys than an elf in Santa's workshop--from a German tin soldier created in the 1850s to a remote-control
Pluto made a century later.
MoreNew Nordstrom an obstacle for fragile downtown mall
December 18, 2006
Greg AndrewsWhen Nordstrom in 1992 signed its lease to open in Circle Centre, mall developers extracted an unusual commitment. The Seattle
company agreed not to open another Indianapolis-area store for at least five years. So when Nordstrom last month announced
it will launch a second location here, in The Fashion Mall at Keystone, it caught the attention of Herman Renfro, a former
Simon Property Group Inc. development executive who oversaw Circle Centre.
MoreNOTIONS: Looking in the mirror for Santa and Mrs. Claus
December 11, 2006
Bruce HetrickBruce Hetrick has the week off. Before he left, he updated this column that was first published Dec. 20, 2004. Contrary to
folklore perpetuated each December, Santa and Mrs. Claus don't live at the North Pole. Their heads aren't crowned with thick,
white locks. Their clothes aren't predominantly crimson. And there's no sleigh in the garage, nor reindeer in the stable (in
fact, there's no stable at all.) The Clauses live, instead, on the north side of Indianapolis. As occasional...
MoreHamilton County officials splash cold water on RiverPlace: Upstream trouble on White River could result from adding fill,
overflow channel
December 11, 2006
Chris O\'malleyA government panel is echoing the concerns of the Hoosier Environmental Council that Centre Properties' proposed RiverPlace
development along White River at 96th Street could worsen the effects of a flood. The Hamilton County Drainage Board doesn't
carry the weight of the U.S. Geological Survey, but its opinion could influence the giant, mixed-use project's chances of
winning a rezoning case. A letter the drainage board sent recently to the Fishers planning commission comes just before the
Fishers Town Council considers...
MoreH.H. Gregg betting big on flat screens
December 11, 2006
Cory SchoutenLocally based Gregg Appliances Inc. found itself flat-footed last holiday season when consumers demanded flat-panel TVs. The
popular televisions were in short supply at H.H. Gregg stores. This year, Gregg has bet on a huge selection of flat-panel
TVs to buoy sales.
MoreShoopman ready to build again
December 11, 2006
Jennifer WhitsonPaul Shoopman put 33 years into Dura Builders Inc. before selling his residential construction firm to national player KB
Home Inc. as the local housing market boomed. Two years later, he's getting back into the business even as KB and others retrench.
MoreCanal site picked for $33M project
December 4, 2006
Jennifer WhitsonA local developer plans to build a $33 million, four-story apartment and retail complex on the Central Canal just north of
Michigan Street. Flaherty & Collins Properties has the three-acre parcel under contract from American United Life Insurance
Co.
MoreCrystal Food Services to go national
December 4, 2006
Cory SchoutenCrystal Food Services plans to team with several prominent restaurant chains for a nationwide expansion after severing ties
with Marsh Supermarkets Inc. early next year. The locally based catering and food-service company will report directly to
Florida-based Sun Capital Partners, which acquired Marsh in September.
MoreStarbucks pours it on in Indiana
December 4, 2006
Cory SchoutenOver the last seven years, Starbucks has inundated virtually every corner of the Hoosier landscape. And the company has no
plans to slow down. Several Indiana towns--from Gas City to Angola, Batesville to Bluffton--will get their first Starbucks
in 2007.
MoreCar wash company cleans up: Mike's Express grows by luring loyal clientle
November 27, 2006
Cory SchoutenThe state's best-known car wash company has found a new formula for success it hopes will rival its popular multiwash books:
monthly passes that practically guarantee a permanent shine. Indianapolis-based Mike's Express Carwash already has enrolled
more than 3,000 customers in a monthly membership program, launched in September, that allows unlimited washes in exchange
for a monthly fee. Express wash passes are $39.99 per month, and "Works" passes are $69.99. "It's truly for the person who
always wants a clean...
MoreFaced with competition, record shops look for fresh ways to rock
November 27, 2006
Marc D. AllanMusic CD sales are falling--down 8 percent so far in 2005--while digital downloading of music jumped 163 percent. And nearly
one-third of the nation's record stores have closed in the past three years. Even so, Indianapolis record-store owners say
they've been reasonably successful adapting to a changing marketplace.
MoreComing attraction: Imax theater in Noblesville: Technology lets theaters show Hollywood blockbusters
November 27, 2006
Tammy LieberOnce upon a time not so long ago, Imax films were nearly synonymous with museums. In Indianapolis and elsewhere, the largeformat
movie screens-some as big as the side of an eight-story building-featured 40-minute films that took viewers to exotic places
like outer space or the top of Mount Everest, and were usually attached to educational and cultural institutions. But technology
that debuted in 2002 is bringing Imax screens to suburbia-including to Noblesville in 2008. Grand Rapids, Mich.-based Goodrich
Quality Theaters...
MoreBiz park plan west of Plainfield counting on cheaper land
November 27, 2006
Jennifer WhitsonPlans are in place for a 400-acre mixed-use development off Interstate 70 just west of Plainfield--an area quickly becoming
the next big thing in industrial real estate.
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Laura-the festivals and tastings are free. What does is strengthen the sense of community with activities. What are those empty lots doing for the Village? it's sad you can't see the good that this progress can do for the area. No one is requiring anyone to shop there. I guess you'd rather see a Dollar store move in or no, we'd rather see the property stand empty b/c change is out of the question.
Read down to the part about Brizzi. Someone needs to subpoena his "purchases" of Red RockPictures and Cellstar and his corresponding bank records, I mean c'mon, I'd like to see his alcohol usage records, too. http://diana-vice.blogspot.com/2011_01_01_archive.html
Wonder if my neighborhood can advertise our "retention" pond and act like it is a beach too?
a new record at the '11 salebration until they realized that it was a futile effort to get their crapwagon moter and crapwagon car up speed. And then they just quietly slunk off into the night and never spoke of it again. Nothing to see here folks.
millions for putting a company's bumper sticker on one of its Lolas. But you gotta take what you can get.