Real Estate & Retail

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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Legislation to protect car dealers re-emerges at StatehouseRestricted Content

January 16, 2010
Chris O'Malley
Dozens of Chrysler and General Motors dealers in Indiana were terminated last year. Now, a dealer trade group wants to block automakers from preying on termination fears to wrest concessions from surviving dealers.
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Shiel Sexton plans $50M project near Methodist Hospital

January 16, 2010
Cory Schouten
The local construction company is drawing up plans for a mixed-use project with offices, a parking garage and retail space on several parcels it owns near Capitol Avenue and 16th Street.
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Shoppers World taking former Target space on U.S. 31 South

January 16, 2010
 IBJ Staff
The New York-based department store has one other location in Indianapolis, in Lafayette Square Mall. That store opened in 2008.
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Nature Conservancy buys 282 acres from Girl Scouts

January 16, 2010
 IBJ Staff
The land in Brown County will be turned over to the Indiana Division of Forestry.
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National animal-welfare group targets Steak n Shake

January 14, 2010
Andrea Muirragui Davis
The Humane Society of the United States bought $2,000 worth of Steak n Shake stock this week in hopes of getting the company to work with food producers that use humane farming methods.
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HHGregg shares fall after analyst downgrade

January 13, 2010
 IBJ Staff and Associated Press
Customers are buying fewer high-priced big-screen TVs from electronics chain HHGregg Inc., an analyst said Tuesday as he lowered his investment rating on the company's stock.
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Cincinnati-area builder Fischer expands to Indianapolis

January 12, 2010
Cory Schouten
Home builder hopes to sell as many as 200 houses in region this year. Fischer, which entered the Columbus, Ohio, market in 2008 after buying subdivisions from retreating builders, is using the same strategy to establish a foothold in Carmel, Westfield, Zionsville and Avon.
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Steak n Shake CEO buys more shares

January 12, 2010
Cory Schouten
Steak n Shake Co. CEO Sardar Biglari bought $290,000 worth of stock in the Indianapolis-based burger chain last week in another big bet the company's shares are undervalued.
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