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Real Estate & Retail
TOM HARTON Commentary: On defense, Republicans get divisive
January 2, 2006
After Republicans Scott Keller and Lance Langsford broke party ranks at the Dec.19 City-County Council meeting and voted for
cop consolidation and an expanded human-rights ordinance, fellow Republican Jim Bradford e-mailed them and questioned whether
they were true Republicans. Lately, it's Bradford and other Republican hard-liners who don't seem like the Indianapolis Republicans
of old. Republicans mayors Richard Lugar, William Hudnut and Steve Goldsmith provided pragmatic, progressive leadership here
in the 1970s and '80s and '90s. Lugar and longtime Council...
MoreBig sale finishes hot year: Firm buys 6 office buildings at Keystone at the Crossing; price lags other mega-deals
December 26, 2005
Tammy LieberA record year for sales of local office properties is ending with a bang, as a half dozen buildings at Keystone at the Crossing
change hands. Philadelphia-based Berwind Property Group purchased a six-building portfolio, including the high-rise office
towers at Keystone at the Crossing, from Teachers Insurance and Annuity Association. The deal, which closed Dec. 22, includes
buildings totaling about 1 million square feet at 8500, 8888, 8900, 8930, 9100 and 9200 Keystone Crossing, developed by locally
based Duke Realty...
MoreMarsh puts itself up for sale:
December 26, 2005
-Matthew KishLocally based Marsh Supermarkets Inc. closed out perhaps the most disappointing year in its nearly 75-year history by hanging
a for-sale sign on its front door. The announcement came Nov. 29, the same day the grocer reported another disappointing quarter-this
time a $3.4 million loss on revenue of $549.6 million. Marsh said it had hired Merrill Lynch to explore alternatives, including
a sale, but otherwise said little. Increasing competition from large-format retailers such as Wal-Mart is partly to blame
for...
MoreHotel proposed for Hamilton County's Strawtown: Site overlaps sensitive American Indian land
December 19, 2005
Matthew KishHamilton County park officials hope to find a developer to build a three-star hotel in 750-acre Strawtown Koteewi Park, an
area rich with fragile American Indian artifacts. Businesses near the northeastern Hamilton County park love the idea. American
Indian groups are less enthusiastic, but willing to work with park officials. "It's kind of disturbing," said Chief Brian
Buchanan of the Miami Nation of Indians of the State of Indiana. "You wouldn't want anybody digging up your grandmother."
Buchanan learned of...
MoreDuke, Bremner pairing bearing fruit for both companies: Venture surpasses goals with $100 million in projects
December 19, 2005
Tammy LieberA year after forming a joint venture to pursue health care development, Duke Realty Corp. and Bremner Healthcare Real Estate
are preparing to storm the Southeast, one of Duke's stronghold markets, by opening offices in Atlanta and Miami, and by bringing
on a new partner. Announced last December, Duke's and Bremner's joint venture this year locked up $100 million worth of projects,
ranging from a medical office building on Michigan Road in Hamilton County to an outpatient hospital in Summit,...
MoreMSA condo interest builds: With sales up, developer hopes to begin site work in January
December 12, 2005
Tammy LieberTwo months after unveiling a new name, new floor plans and a new sales center for their development, the team in charge of
building condominiums on the former Market Square Arena site is reporting more success than the first time around. Reservations
have been taken for two-thirds of the units that need to be sold before the developer can fund One Market Square, real estate
agent Kurt Flock told the Metropolitan Development Commission Dec. 7. Market Square Partners is considering...
MoreBEHIND THE NEWS: Another mark against Marsh: It has big pension shortfall
December 12, 2005
Greg AndrewsAs if Marsh Supermarkets Inc. didn't have enough problems, here's another whopper: The company has a drastically underfunded
employee pension plan-to the tune of $44 million. That figure is disclosed deep within a Securities and Exchange Commission
filing the company submitted in June. It shows the pension plan had assets of $39 million, less than half its $83 million
in projected obligations. It's a big shortfall, and one analysts say is sure to draw the attention of potential suitors. An...
MoreClarian nabs UAC building: Hospital network wins bid for former corporate headquarters
December 5, 2005
Tom MurphyClarian Health Partners is polishing a deal to buy the former Union Acceptance Corp. headquarters on North Shadeland Avenue,
a move that plants a large footprint for the burgeoning hospital network squarely in a competitor's east-side back yard. Clarian
made the winning bid for the 126,000-square-foot building at a Nov. 15 auction, but the sale had not closed as of Nov. 30,
said Bob Getts of Colliers Turley Martin Tucker, which ran the auction. He referred all questions to Clarian....
MoreLandlords may face big holes: If groceries close, centers would suffer
December 5, 2005
Tammy LieberMarsh Supermarkets Inc. serves as an anchor tenant for dozens of central Indiana shopping centers. So if the company or a
buyer ends up closing stores, centers across the region could be left with gaping holes. Not only can large vacant spaces
in shopping centers make them look blighted. They also reduce customer counts at smaller retailers that feed off grocery store
traffic, retail experts say. "People go to the grocery store once or twice or three times in a...
MoreBULLS & BEARS: Buffett colleague Munger is also a man of wisdom
December 5, 2005
Ken SkarbeckI am reading the book "Poor Charlie's Almanack," edited by Peter Kaufman. It's mostly a compilation of advice from Charlie
Munger, vice chairman of Berkshire Hathaway and chairman of Wesco Financial, which is 80-percent owned by Berkshire. Munger,
81, owns Berkshire Hathaway stock worth $1.6 billion. Like Berkshire Chairman Warren Buffett, Munger hails from Omaha and
as a youngster worked at the Buffett and Son grocery owned by Warren's grandfather. The two were reacquainted in the early
1960s and became...
MoreUnder pressure?: Largest outside shareholder could be pushing Marsh to find buyer
December 5, 2005
Matthew KishMarsh Supermarkets Inc.'s decision to seek a buyer might not have been made within the company's Indianapolis headquarters.
It might have come from 115 miles away in Cincinnati. That's home base for the c o m p a ny 's largest outside shareholder,
A m e r i c a n Financial Group Inc., an insurer controlled by the family of billionaire tycoon Carl Lindner. A source knowledgeable
about the discussions said AFG, a Marsh shareholder for more than two...
MoreEYE ON THE PIE: WestClay, prepare for some competition
December 5, 2005
Morton MarcusU.S. 20 is one of our lesser-known t r a n s c o n t i n e n t a l highways. It starts at the Boston Commons, about two miles
from the Green Monster of Fenway Park. The route then winds west to a few blocks from the Pacific Ocean at Newport, Ore. U.S.
20 runs through Yellowstone National Park in Wyoming and such cities as Albany, N.Y.; Erie, Pa.; Toledo, Ohio; Rockford, Ill.;
Sioux City, Iowa;...
MoreCHRIS KATTERJOHN Commentary: Setting an example for Sacramento
November 28, 2005
"To improve Sacramento, learn from Indianapolis" was the headline of a column in the Nov. 18 Sacramento Business Journal.
It's always nice to get a compliment and some good PR. Turns out a delegation of nearly a hundred Sacramentonians-or is it
Sacramentites?-were here in October on a three-day study mission to learn how to become a great city. It was the seventh year
in a row for them to make a learning visit to another community. Tom Stallard, head of...
MoreFledgling Music Mill finding its beat: Venue strikes chord with local concert fans
November 28, 2005
Tammy LieberOn its opening night late last year, Music Mill started off with a bang. The first concert at the northside venue was the
Scissor Sisters, an energetic New York band whose self-titled debut album includes a disco-flavored cover of Pink Floyd's
"Comfortably Numb." More than 400 people showed up for the Dec. 15 show. More than half of them were lastminute arrivals who
bought their tickets the day of the show. "We got to find out on our first big...
MoreIndustry races to promote itself: Statewide motorsports group hopes to thwart competition from other U.S. markets
November 28, 2005
Anthony SchoettleArea motorsports leaders are gearing up for another run at unifying the industry and assuring the region retains its status
as one of the world's leading motorsports markets. Organizers of the latest effort promise they won't spin their wheels this
time around. They're casting a wider net-going statewide with a motorsports association-to attract more members and build
more clout with the media, local and state lawmakers, and service providers, such as banks and insurance companies. The Indiana
Motorsports Association Inc....
MoreMerry Realty Inc.: Big plans for small firm Real estate agency tries to win business by teaching buyers rules of the game
November 21, 2005
Ed CallahanReal estate agency tries to win business by teaching buyers rules of the game Large agencies may dominate the residential
real estate game, but Indianapolis-based Merry Realty is trying to prove a small player still can make a big name for itself.
For years, Merry Realty has focused its efforts on properties in Indianapolis, but it is rapidly expanding into a more diverse
market, targeting booming areas like Hamilton County while staying loyal to its inner-city roots. Real estate broker...
MoreIncentives no help if hard to use, developers say: Program used on northwest side can be too much of a good thing
November 21, 2005
Tammy LieberA year and a half ago, Indianapolis officials announced an incentive program designed to lure businesses to the vacancy-plagued
commercial area surrounding Lafayette Square Mall on the northwest side. To date, just one developer has taken advantage of
the community revitalization and enhancement district, or CRED, and its project was in the works before the program began.
The developer built a movie theater and grocery store in a former Cub Foods near 38th Street and Lafayette Road. Smaller developers
may...
MoreBULLS & BEARS: Problems look daunting? A lesson from Granddad
November 14, 2005
Dave GilreathGranddad rocked back and said, "The news is pretty tough to read these days. Makes me want to sit on the porch and just watch
the leaves turn." He shook his head and mentioned all sorts of events that made him wonder if the United States could ever
bounce back. First, he brought up the battles for control in the Gaza strip and the fierce fighting over Palestinian areas.
Then came speculation on how the United States was going to...
MoreMuseum deemed Monumental: Expansion project earns two design firms top award
November 7, 2005
Staff ReportIndianapolis-based firms Fink Roberts & Petrie Inc. and Browning Day Mullins Dierdorf Architects won the Monumental Award
for their work on the Indianapolis Museum of Art expansion project. The 28th annual A Monumental Affair was set to take place
Nov. 3 at the Indiana Roof Ballroom. The awards recognize excellence among those who have contributed to the enhancement and
beautification of Marion County through the built and natural environment. Local non-profit organization Keep Indianapolis
Beautiful Inc. leads the Monumental Affair...
MorePublic markets are sometimes a double-edged sword: Many companies enjoy access to capital, but others complain regulatory
compliance costs are just too high
October 31, 2005
Peter SchnitzlerFor young and growing companies, initial public offerings are a bit like climbing a mountain: a long, harsh toil to reach
a distant summit. But planting a flag at the peak isn't enough. To make the journey worthwhile, companies must stay there.
The payoff can be enormous, in the form of ready access to capital. But operating at such a high altitude requires careful
footing. And the effort costs more than some can afford. "It's a double-edged sword," said George...
MoreIndiana taps Meridian to handle surplus land: Second call put out for firms to oversee leasing
October 24, 2005
Tammy LieberThe state of Indiana has taken a first step in overhauling how it manages its real estate by selecting a local firm to sell
surplus property. Meridian Asset Development was notified Oct. 12 of the state's intent to award it a contract to manage the
sale of potentially hundreds of acres of land the state owns. A contract could be in place within two weeks, pending negotiations
over the exact terms, said Kevin Ober, deputy commissioner for the Indiana Department...
MoreBEHIND THE NEWS: Ex-exec cuts guilty plea; Brightpoint says it's not a target
October 24, 2005
Greg AndrewsOne of two former Brightpoint Inc. employees charged this month in an accounting scandal has agreed to plead guilty in return
for receiving a prison sentence of no more than 18 months. John Delaney, 40, former chief accounting officer of the wireless
phone wholesaler, could end up spending far less time behind bars. In his nine-page plea agreement filed in federal court
in Indianapolis, the U.S. Attorney's Office says it will argue for a lesser sentence. Delaney on Oct. 13...
MoreKipps Brothers still evolving after 125 years
October 24, 2005
Candace BeatyWalk through the Kipp Brothers showroom and you’ll find the makings of one heck of a birthday celebration: gag gifts
galore, endless sugary treats and headgear that puts the traditional party hat to shame.
MoreLee, Willis prosper outside limelight: Former WRTV co-anchors run growing public relations firm
October 17, 2005
Anthony SchoettleNews defined the careers of Clyde Lee and Diane Willis for a combined five decades. And it was the nation's biggest news event
of the last decade-9/11-that served as an ominous backdrop for the duo's first entrepreneurial venture. "We incorporated in
August 2001, and less than a month later, 9/11 hit, and we thought, 'Oh my,'" Lee recalled. But more than four years later,
Lee/Willis Communications is still standing-and prospering. The fiscal swoon that followed 9/11 caused many companies to...
MoreTOM HARTON Commentary: Luring people with bricks, mortar
October 10, 2005
A parking garage is about to rise on a vacant lot at 120 E. Washington St. It's ironic that a block or so west of the site,
a group of architects, city planners, real estate developers and leaders of the city's arts movement meet on a regular basis
to plot against such garages. The garage in the works isn't just any garage. In its current design, which is yet to be approved,
it's only a garage. No ground-floor retail. Just...
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I'm sure there are others, but his name automatically came to my mind
Houdini
magician on the court
STEVE MARTIN - funny magic
It has to be Houdini!