Real Estate & Retail

Indianapolis hotels feel pain of national slumpRestricted Content

July 27, 2009
Anthony Schoettle
Hotel occupancy rates are way down in Indianapolis, as they are elsewhere, but local operators and national analysts think the city is in a good position to bounce back when the economy improves.
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Redevelopment eyed for former jail buildingRestricted Content

July 27, 2009
Cory Schouten
Prospective buyers need a little vision to see the potential in the four-story former jail at the southwest corner of Maryland and Delaware streets.
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Ambrosia to open downtown restaurant in former BadaBoomz siteRestricted Content

July 27, 2009
 IBJ Staff
The owner of the popular Broad Ripple Italian restaurant Ambrosia plans to open a location downtown on the first floor of the Hampton Inn along Maryland Street.
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Lauth's lawyers raking in big fees in bankruptcy reorganizationRestricted Content

July 20, 2009
Cory Schouten
Developer Lauth Group Inc. is sparing no expense on attorneys in the Chapter 11 reorganization of key subsidiaries. The company has hired two of the nation’s most prominent bankruptcy and restructuring specialists to handle the cases, and the bill for the first month easily will exceed $1 million.
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Two Indianapolis restaurants closeRestricted Content

July 20, 2009
 IBJ Staff
Sister eateries Café Nora and Ruth’s Keystone Cafe have closed, owner Jim Nethercott said.
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Smith & Hawken going out of business

July 15, 2009
 IBJ Staff
Upscale garden retailer Smith & Hawken will close all of its stores by the end of the year, including its Indianapolis location on River Crossing Boulevard near the Fashion Mall.
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Kite Realty misses out on REIT revivalRestricted Content

July 13, 2009
Cory Schouten
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut dividends, and set the development engine to idle. But as the shares of most publicly traded real estate investment trusts have bounced back from the lows in March, Kite’s shares have lagged.
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Conrad Indianapolis adding wine bar, sidewalk diningRestricted Content

July 13, 2009
Cory Schouten
Plans are in the works for a wine bar called Tastings that would take the first-floor corner space at the Conrad Indianapolis. The $1 million project would add an entrance to the luxury hotel at the northeast corner of Washington and Illinois streets and include a total of 80 outdoor seats along both streets, in the shadow of the Artsgarden.
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Greater Indianapolis YMCA has $30M in projects plannedRestricted Content

July 13, 2009
Kathleen McLaughlin
It takes a map of the entire metro area to show all the projects the YMCA of Greater Indianapolis has on its drawing board. The $30 million plan calls for building two brand-new facilities, one in Avon and one in Pike Township; expanding the Fishers YMCA; and building a new outdoor pool in Lawrence.
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New restaurants planning to open this monthRestricted Content

July 13, 2009
 IBJ Staff
New restaurants include Iozzo’s Garden of Italy, slated to open July 17 at 946 S. Meridian St., in the former home of Leland’s and Cafe@Ray. The owner’s grandfather in the 1940s owned an 800-seat restaurant of the same name where the Hyatt Regency now stands.
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Metro-area home sales dip in June

July 9, 2009
 IBJ Staff
Home-sale agreements in the nine-county Indianapolis area dipped 1.4 percent in June compared to the same month a year ago, according to a report released today by F.C. Tucker Co.
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Steak n Shake sales, traffic rise

July 8, 2009
 IBJ Staff
Steak n Shake Co. yesterday reported big increases in customer traffic and same-store sales for its fiscal third quarter, which ended July 1. Customer traffic rose 13.4 percent and same-store sales jumped 5 percent in the quarter compared to the same period a year ago, it said in a brief Securities and Exchange filing.
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HHGregg accelerates store-opening plans

July 8, 2009
Scott Olson
HHGregg Inc. said this morning that the bankruptcy of competitor Circuit City should enable the company to open more stores within the next few years than previously expected.
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Keystone Construction plans Madison Avenue retail center

July 7, 2009
Cory Schouten
A local developer is planning a retail strip center along Madison Avenue just south of downtown in a neighborhood that's been begging for investment for years. The plans by Keystone Construction Corp. call for a 25,000-square-foot retail center at 1400 Madison Ave., across from Sisters' Place Restaurant.
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Clean air strategy: Some nightspots opt to tighten smoking rulesRestricted Content

June 29, 2009
Kathleen McLaughlin
Coaches Tavern, MacNiven's Restaurant and Bar, and The Jazz Kitchen are among Indianapolis bars that recently limited or banned smoking. Those establishments join a short list of bars that already buck the trend in Indianapolis. Smoking in public places, including restaurants, has been banned in Marion County since 2006, but it's still OK to puff away in places that don't admit minors.
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David Simon named among world's best CEOsRestricted Content

June 29, 2009
 IBJ Staff
The big cheese at Simon Property Group is wedged among the "top gun" executives in the U.S.
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Indianapolis loses two Bally fitness centersRestricted Content

June 29, 2009
 IBJ Staff
The closures come as the parent company reorganizes and competitors pump up their local presence.
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$65M development deal would cost Capital Improvement BoardRestricted Content

June 22, 2009
Cory Schouten
The Capital Improvement Board could be forced to give up one of its most profitable assets so the city can pull off a $65-million public-private downtown development deal. The city has agreed to help a developer revitalize the vacant former Bank One operations center in part by acquiring an adjacent parking garage for $18.5 million.
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EDITORIAL: Project near MSA may be worth the riskRestricted Content

June 22, 2009
The city has unveiled a dramatic plan for new housing and retail development to revitalize the old Market Square Arena site. Despite some shortcomings, the project deserves a chance to give the stagnant area a boost.
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Brenwick Realty merges with Keller Williams RealtyRestricted Content

June 22, 2009
 IBJ Staff
The merger will give Keller Williams, which entered the local market five years ago, a foothold in Hamilton County, where Brenwick Realty has been responsible for selling property in Village of WestClay.
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$65M downtown development deal raises questionsRestricted Content

June 15, 2009
Cory Schouten
A $65 million public-private plan for the redevelopment of a vacant downtown office building is raising eyebrows for its unusual approach and potential risk to taxpayers. The plan calls for a private developer to acquire the former Bank One operations center, surface parking lots and an adjacent parking garage from a private owner for $18.5 million, then sell the 1,680-space garage to the city for $18.5 million.
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Browning acquires 43 homes for $100 million mixed-used development in CarmelRestricted Content

June 15, 2009
Cory Schouten
Developer Brown Investments has reached terms with the owners of 43 of 49 homes in the North Meridian Heights neighborhood in Carmel. Browning plans to demolish the homes to make way for a $100 million commercial development over 17 acres.
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Cultural Trail spurs development plan along Virginia AvenueRestricted Content

June 8, 2009
Cory Schouten
A local architecture firm hopes to challenge hip Mass Ave with an arts-themed development in Fletcher Place. The $9 million project would include apartments, retail and office space.
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Vacant dealerships join already rocky real estate marketRestricted Content

June 8, 2009
Tom Harton
The owners of car dealerships slated for closure by Chrysler and General Motors face a tough environment for unloading their real estate, but an expected onslaught of such properties has at least one company preparing to grab a slice of the business.
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Spicy Pickle sued for unpaid rent at Castleton SquareRestricted Content

June 8, 2009
 IBJ Staff
Simon Property Group Inc. has filed suit against Spicy Pickle franchisee AJ Enterprises LLC, seeking more than $977,000 in unpaid rent for a prime space at Castleton Square Mall.
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  1. Only half a million TV Viewers? And thats an increase? I knew Indycar was struggling but I didn't know it was that bad. Hell, if NASCAR hits 5 Million viewers everyone starts freaking out saying its going down hill. It has a long way to before Indycar even hits NASCAR's bad days.

  2. IU has been talking that line for years with no real progress even with the last Dean, Dr. Brater. Why will an outsider, Dr. Hess, make a difference? With no proof of additional resources (cash in the bank), and a concrete plan to move an academic model that has been outdated for decades with a faculty complacent with tenure and inertia, I can count on IU to remain the same during the tenure of Dr. Hess. One ought to look to Purdue and Notre Dame for change and innovation. It is just too bad that both of those schools do not have their own medical school. Competition might wake up IU. My guess is, that even with those additions to our State, IU will remain in its own little world squandering our State's tax dollars. Why would any donor want to contribute to IU with its track record? What is its strategy to deal with the physician shortage for our State? New leadership will not be enough for us to expect any change.

  3. How do you think the Bridges got approved? I spent a couple days researching PAC's and individual contributions to some city council members during that time. My printouts were inches thick on the two I concentrated on. Finally gave up. Was disgusted with all the donations, and who they were from. Would have taken me days and days to compile a complete list. Tried to give it to the Star reporter, but he thought it was all just fine. (and apparently he was treated well himself) He ended up being laid off or fired though. And then of course, there was land donated to the dad's club, or city, as a partial payoff. All done in the shining example of "charity." No, none of these contributions are a coincidence.

  4. I agree what kind of help or if any will be there for Dr. Ley's patients. I was a patient myself.

  5. What about the hundreds of patients who sought this doctor for the right reasons, to quit drugs. what option do these patients now have, experience horrible withdrawl or return to heroin?? those are the choices. what about the children of these former addicts who's parent(s) WILL not b able to maintain their job, for @ least 2 weeks.. There needs to b an emergency clinic opened for these patients.

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