Real Estate & Retail

Independent bookstore in Carmel ends seven-year run

January 30, 2010
 IBJ Staff
The Mystery Co. in the Arts & Design District plans to host a farewell party Jan. 30, and close for good a few days later.
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Steak n Shake posts profit, plans new corporate name

January 29, 2010
Associated Press
Steak n Shake Co. said Friday it posted a fourth-quarter profit, and said it is planning to change its corporate name to Biglari Holdings Inc.
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Employee buys Drexel Interiors from struggling parent firm

January 28, 2010
Peter Schnitzler
The east-side Indianapolis kitchen and bathroom remodeling shop is attempting to succeed as a solo operation following longtime employee Allen Weisenburger's decision to buy the operation rather than let it close.
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Duke Realty reports loss, says outlook remains 'challenging'

January 27, 2010
Cory Schouten
Locally based Duke Realty Corp. reported a 53 percent drop in funds from operations in the fourth quarter but still managed to beat Wall Street expectations.
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Panel OKs bill to provide pet buyers with info

January 27, 2010
Associated Press
The bill would require pet stores to put information about the dog or cat on its cage in the store, including the animal's medical history, the name of the breeder and any congenital disorders.
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Northwest-side industrial park sells for almost $30 million

January 26, 2010
Tom Harton
The North by Northwest Business Park near 86th Street and Georgetown Road has been sold to firms in Minneapolis and Baltimore for $29.6 million.
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Simon Property Group enters dispute over founder's fortune

January 25, 2010
Cory Schouten
Simon Property Group Inc. is suing Bren Simon, the widow of company founder Melvin Simon, over her effort to convert part of her late husband's ownership stake in the publicly traded mall giant into common shares or cash.
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Report says Indiana home sales, prices on rise

January 25, 2010
Home sales statewide rose 4.1 percent in December compared with the same month in 2008, although Marion and Hamilton counties reported sizable slides.
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Rising credit card fees eroding retailers' profits

January 23, 2010
Peter Schnitzler
Businesses say the money they must pay to provide customers the convenience to use plastic adds up. For example, Ricker Oil Co. paid a whopping $3.9 million in 2009, according President Jay Ricker.
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Affordable-housing group goes on apartment-buying bingeRestricted Content

January 23, 2010
Cory Schouten
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last 18 months.
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Salvation Army draws scrutiny for supplying homes to officersRestricted Content

January 23, 2010
Kathleen McLaughlin
In Indiana, the Salvation Army owns 34 residences, including 10 in Indianapolis with a combined value of $1.6 million.
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One exec pays off risky loan, another pays a big priceRestricted Content

January 23, 2010
Greg Andrews
Emmis' Jeff Smulyan paid off a loan collateralized by nearly all his Emmis stock. Retired Duke Realty Chairman John Wynne is facing new fallout from his margin loan, with the lender on his Williams Creek home pursuing foreclosure.
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Farmland once targeted for housing still being plowedRestricted Content

January 23, 2010
Kathleen McLaughlin
Farmers who might have worried about losing their livelihood to new homes or retail have gotten a little breather.
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Indianapolis Conrad hotel nabs top honor

January 23, 2010
 IBJ Staff
Conrad Indianapolis and West Baden Springs Hotel have been named to Condé Nast Traveler’s Gold List 2010.
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Simon Property accepts $2.3B of notes in offer

January 22, 2010
Associated Press
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
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Simon says husband's shrinking fortune spurred new will

January 21, 2010
Greg Andrews
Bren Simon says in a new court filing that her billionaire husband Mel Simon granted her a bigger share of his fortune in the last year of his life because of alarm over Simon Property Group's plunging stock price and a sharp cut in its cash dividend.
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Finish Line forfeits incentive deal

January 20, 2010
Cory Schouten
Mall retailer The Finish Line Inc. has agreed to forfeit a potentially lucrative tax-abatement deal because it won't be able to meet a 2008 promise to create almost 200 jobs and invest $24 million at its Indianapolis headquarters.
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Simon Property Group rolls out $2.25B offering

January 20, 2010
Associated Press
Proceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
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Outlook remains grim for commercial real estate

January 20, 2010
Cory Schouten
Expect another year of rising vacancies, declining property values and distressed sales in the central Indiana commercial real estate market. That's the message from Colliers Turley Martin Tucker in its annual State of Real Estate report.
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Pioneering automobile dealer Lockhart dies

January 20, 2010
 IBJ Staff
Freda Lockhart was the first woman to open dealerships for Cadillac and Saturn automobiles.
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F.C. Tucker predicts modest rally for residential market

January 19, 2010
Cory Schouten
Central Indiana's housing market is on track to notch gains in the number of homes sold and the average sales price in 2010.
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City's industrial market fared better than most in 2009

January 19, 2010
Tom Harton
The Indianapolis industrial real estate market didn't escape the recession unscathed, but the sector outperformed most other cities and took less of a hit than in the last recession.
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City Market redevelopment hopefuls have ambitious plans

January 18, 2010
Peter Schnitzler
City Market's board president warns financing will challenge any of the six groups that responded to Mayor Greg Ballard's request for business ideas.
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Lender alleges Lauth insiders backdated loan documents

January 16, 2010
Cory Schouten
The largest creditor for Lauth Group Inc. has asked a bankruptcy judge to appoint a trustee after evidence in a related case suggested Lauth insiders may have backdated documents to thwart creditors.
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Area hospital construction taking break after expensive binge

January 16, 2010
J.K. Wall
Observers expect a lull with inpatient facilities for five years or more, but continued proliferation of outpatient clinics and surgery centers.
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