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Real Estate & Retail
Political upstart unloads auto dealership
August 21, 2006
Chris O'MalleyEric Dickerson, the Republican trying to unseat Julia Carson in the 7th congressional District, plans to sell his north-side
Buick dealership to Ed Martin Automotive Group as early as next month. But the dealership could become a campaign liability
even if it's sold.
MoreVanAusdall to auction off city block
August 21, 2006
Jennifer WhitsonLocal office equipment distributor VanAusdall & Farrar Inc. is putting an entire city block on North Meridian Street up for
auction, a move that could spur development in a corridor real estate experts say is ripe for activity. The three-acre property
is between 12th and 13th streets.
MoreVerus Partners gets busy in 1st year in local market: Chicago newcomer has 3 developments under way
August 14, 2006
Jennifer WhitsonIn 2003, four men decided to leave careers at Chicago-based development powerhouse Higgins Development Partners LLC to start
their own company. The result, Verus Partners LLC, an industrial, office and institutional developer, has grown rapidly, opening
two offices in Canada and one in Indianapolis, and is pondering a new office in Charlotte, N.C. And its 1-year-old local office
is spearheading an aggressive move focused on developing speculative industrial space. Last year, Verus hired Tom Theobald,
a 19-year commercial real estate...
MoreVOICES FROM THE INDUSTRY: Low-impact development likely to make a big impact
August 14, 2006
Brian MannEvery time Indiana experiences one of its summer cloudbursts, the rainfall sets into motion one of a real estate development's
most expensive and least appreciated systems. As rain hits the ground, it quickly collects into wellengineered courses to
swales and gutters, through pipes and culverts and into detention ponds. Flowing around, over and through the land that once
absorbed it, the water is efficiently collected and conveyed off the site. In other words, gather it up and drain it off....
MoreFountain Square district shoring up its Corners: Group turns old buildings into residential/work spaces
August 14, 2006
Scott OlsonIf State and English avenues in the Fountain Square district were on a Monopoly board, they would probably be the ones available
immediately after passing "Go." But after the Southeast Neighborhood Development Inc. is finished there, the intersection
will move several spaces closer to Park Place. The not-for-profit is investing $1 million to renovate three dilapidated buildings
it bought to convert them to residential/work spaces as part of its Fountain Square Corners development. A local photographer
who will live in...
MoreBEHIND THE NEWS: Coastal cash flowed into tiny firm, yielding big payoff
August 7, 2006
Greg AndrewsCentury Realty Trust is but a grain of sand in the universe of real estate companies. But within the last few years, the Indianapolis
firm has caught the attention of investors on the coasts, and they're the richer for it. Now that Century Realty is selling
nearly all its properties to Indianapolis-based apartment owner Buckingham Properties and liquidating, its investors likely
will collect from $20.50 a share to $21 a share, according to a filing with the U.S. Securities and...
MoreNoble Roman's seeking a return to glory
August 7, 2006
Tom MurphyNoble Roman's Inc. executives think they've found the recipe to lift their company out of its stock malaise. The Indianapolis
company started franchising last year restaurants that feature dual branding with its Tuscano's Italian Style Subs, and it
plans 157 locations within three years.
MoreCHRIS KATTERJOHN Commentary: Orange County casino a losing bet?
August 7, 2006
I'm starting to get a bad feeling about the Orange County casino project. Truth be told, I've had the bad feeling for a long
time, and now it's getting worse. The latest blip on the radar in what has been a challenged project from the get-go is the
contentious legal battle that has surfaced between the two partners: Bob Lauth of Lauth Property Group and Bloomington billionaire
Bill Cook. I guess that's not that unusual. Ed Feigenbaum, publisher of Indiana...
MoreCrown Hill land's price tag hinges on retail approval
July 31, 2006
Jennifer WhitsonNow that Mann Properties LLC has won the bidding war for 70 acres of land on the northern end of Crown Hill Cemetery, the
rezoning debate begins.
MoreState awarenesss initiative targeting investment fraud: Program touts knowledge to prevent financial scams
July 24, 2006
Tracy DonhardtConservative estimates put the amount of money Hoosiers are bilked by investment fraud scammers at $100 million a year. The
high-end estimate for victims of pyramid scams, bogus gas and oil ventures and unscrupulous mortgage practices is closer to
$800 million. Those involved in catching and prosecuting the scammers say proactively educating people about investments in
general and scams in particular would go a long way toward helping the problem. "Our financial illiteracy is high," said Mark
Maddox, managing partner...
MoreAt age 25, Wild Birds exceeds 300 stores in 43 states, Canada
July 24, 2006
Victoria D. WilliamsWhen Jim Carpenter opened the first Wild Birds Unlimited in Indianapolis 25 years ago, his goal was to bring people and nature
together--a combination that has brought him "unimaginable" success.
MoreCity Securities buys lender in bid to reach new markets
July 24, 2006
Peter SchnitzlerCity Securities Corp., one of the largest investment firms based in Indiana, has purchased Columbus, Ohio-based ReCasa Financial
Group LLC, a specialty lender focused on rehabs of dilapidated houses.
MoreMIBOR under scrutiny by FTC
July 24, 2006
Jennifer WhitsonThe Federal Trade Commission recently slammed the Austin Board of Realtors for how the Texas organization runs its multiple-listing
service, charging that a policy change barring certain homes from Web search engines runs afoul of federal antitrust laws.
MoreAirport Authority sells 103 homes after sound modifications
July 17, 2006
Chris O'MalleyThe Indianapolis Airport Authority has begun listing at www.indianapolisairport.com homes it acquired under its nearly decade-old
"purchase assurance/sound insulation program."
MoreSt. Elmo top-selling restaurant; others sizzle, too
July 17, 2006
Matthew KishSt. Elmo Steak House was the top-selling restaurant in 2005, ringing up $11.3 million in sales, but the Cheesecake Factory,
Oceanaire, Maggiano's Little Italy, Sullivan's Steakhouse and P.F. Chang's, among others, all topped $5 million.
MoreCharter school group to buy Greek Church: Purchaser wants to talk to neighborhood about needs
July 10, 2006
Jennifer WhitsonA not-for-profit that runs roughly 60 schools nationwide has agreed to purchase the Holy Trinity Greek Orthodox church at
40th and Pennsylvania streets. Imagine Schools Nonprofit Inc. hopes to set up a charter school at the site, but Jason Bryant,
the corporation's vice president in charge of Illinois and Indiana operations, said it first wanted to hold community meetings
to get input on what's needed. "There is flexibility for each individual school to set its own curriculum," Bryant said. The...
MoreNew law provides Realtors an edge
July 10, 2006
Tracy DonhardtA new state law backed by Realtors that critics say stifles cut-rate competition already has prompted a discount brokerage,
California-based HomeYeah!, to shutter its operations here.
MoreBank boss eyes No. 1: New Fifth Third chief plans expansion, faces tough Chase
July 10, 2006
Matthew KishThe view from John Pelizzari's 14th-floor office in downtown's Capital Center is a good one. The recently hired president
and CEO of Cincinnati-based Fifth Third Bancorp's central Indiana operations can see the rooftops of many of downtown's landmarks.
And he likes it that way. He's used to the view from the top. From 2001 to 2005, Pelizzari, 50, captained the ship for Fifth
Third's northern Michigan affiliate, which enjoyed a whopping 28-percent market share, more than 10 percentage points higher...
MoreDeveloper goes west with retail: Lauth's Brownsburg Station to cover nearly 70 acres
July 3, 2006
Matthew KishLauth Property Group soon will break ground on Brownsburg Station, a massive retail complex that will be one of the largest
in the Indianapolis area. The Brownsburg property, which will be roughly 500,000 square feet and sit on almost 70 acres, will
take advantage of the west side's rapidly growing suburbs. The project received preliminary approval from the town of Brownsburg
in late June and needs only to clear a few minor hurdles before building can begin. Tenants could move...
MoreIPS swap a flop?: Browning tells district to drop land-trade plan; site drew just 3 bids despite prime location
July 3, 2006
Jennifer WhitsonIndianapolis Public Schools is sitting on a 12-acre parcel of prime downtown land it probably could sell for big bucks. But
its pursuit of a land swap instead has tempered interest in the site and raised questions about whether such a complicated
deal is the way to go. Just three developers responded to IPS' request for bids on its land east of Massachusetts and College
avenues, despite the unsolicited inquiries that drove the school district to explore its options in...
MoreMarket Square project in doubt: Two months before deadline, condo developer won't talk, scales back its sales effort
June 26, 2006
Jennifer WhitsonThe city of Indianapolis already has twice pushed back the deadline for closing a deal with the developer of a high-rise condo
project slated for the former Market Square Arena site. Now, with the latest deadline of Aug. 31 looming, officials with developer
Market Square Partners LP are incommunicado amid signs they're struggling to find enough buyers to get the project off the
ground. The sales office, once staffed daily, now apparently operates on an appointment-only basis. The developer hasn't...
MoreWhole Foods shopping for alternative store site: Will grocery go to Nora instead of Keystone Crossing?
June 26, 2006
Matthew KishWhole Foods might not be coming to Keystone at the Crossing after all. Residents of the Driftwood Hills neighborhood sued
the city in February after it approved a zoning change allowing developer Paul Kite to build a Whole Foods grocery, plus as
many as 30 condominiums, on the northwest corner of 86th Street and Keystone Avenue. As residents push on with their effort
to block that zoning decision, Whole Foods is exploring other sites, including one in nearby Nora, for...
MoreBuilder targets entire block: Centex in talks to buy land from Shapiro's Deli, others for downtown development
June 26, 2006
Jennifer WhitsonA national home builder is negotiating to purchase an entire downtown block for a retailand-residential development-a project
that could temporarily displace the landmark Shapiro's Deli. Dallas-based Centex Corp. says the block southeast of the planned
Lucas Oil Stadium is among several downtown-area locations it is reviewing for its first local foray into urban residential
development. Brian Shapiro, owner of Shapiro's Deli, 808 S. Meridian St., said he has not reached a final agreement to sell
his property. But he hinted...
MoreDriving through adversity: First-time team owner uses business fundamentals to help reach the finish line
June 26, 2006
Matthew KishIt's been a bumpy ride for Michael Crawford this year. Scratch that-it's been like driving into a concrete wall at 190 miles
per hour. Repeatedly. The rookie race team owner put his financial livelihood on the line this year to buy two cars and run
them in the Indy Pro Series, the open-wheel racing equivalent of AAA baseball, one step below the major leagues. IBJ is following
Crawford's progress in hopes of shedding light on the challenges startups face when...
MoreLots of new office space planned along North Meridian: Some say corridor is beating out Keystone
June 19, 2006
Jennifer WhitsonWhen Walker Information Inc.'s lease was up on its Keystone-area offices, it looked citywide for new space. In February, the
company signed a lease for space in a building along the North Meridian Street corridor because it got a good deal from Lauth
Property Group Inc., according to Walker's broker, Samuel F. Smith, of Resource Commercial Real Estate. Several area developers
are betting that others will follow Indianapolis-based Walker's lead, lured by the prestige of a North Meridian Street address....
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Ameriana Bank took over Westfield Farmers Market for 2013 and it is held in their parking lot, corner of 32 and Carey road, 5 to 8. I am selling soap and candles there. great market!
B&T certainly has enough of our taxpayer dollars to do this thanks to Mayor Ballard. Given the firm's exceedingly poor reputation in the legal community, the basement would seem a better option.
Should read MAY hire 20 people.
Not a good location for a 300,000 home. 10th Street fumes, buses, noise. Max for this location 150,000.
The state constitution also does not say that the majority has a right to quorum, nor that the minority is required to allow them quorum. In fact, denial of quorum has been a parliamentary maneuver since the establishment of the first parliaments in the early 1600s. The right to deny quorum (and the requirement fore quorum) are to prevent exactly what happened in Indiana: A tyrannical majority pushing through odious, objectionable legislation. Denial of quorum is totally legitimate, and lest we forget, a tactic the GOP has employed many, many times to ensure their issues weren't given short shrift. By allowing the majority to impose "fines" on the minority for exercising the authority the constitution grants them (to deny quorum,) they are violating the constitution.