Real Estate & Retail

Simon adds to its stake in British mall ownerRestricted Content

June 8, 2009
 IBJ Staff
Locally based Simon Property Group Inc. has added 18.6 million shares to its stake in the United Kingdom's largest owner of shopping malls, Liberty International Plc.
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A bit of Lauth historyRestricted Content

June 1, 2009
Regarding the May 25 story, ["Lauth granted reprieve,"] please note that Lauth Property Group is an offshoot of the original company founded by myself and Terry Eaton in 1976. It was then known as Ernst/Eaton Associates.
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Irvington rolls out $1.2 million promotional campaignRestricted Content

June 1, 2009
Anthony Schoettle
In the midst of a $1.2 million campaign to upgrade streets, sidewalks and other neighborhood infrastructure, a coalition of Irvington businesses and residents is launching a unique marketing campaign to tout the neighborhood's recent enhancements and position it as an alternative to places such as Carmel, Zionsville, Geist and Noblesville.
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Gregg landing in prime spots abandoned by failed retailers Circuit City, Linens & ThingsRestricted Content

June 1, 2009
Cory Schouten
Electronics retailer HHGregg Inc. has snapped up at least a dozen former Circuit City and Linens & Things locations in six states and is eyeing more of the empty big boxes in an opportunistic move toward expansion.
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Transit, sustainable development likely to be themes in rescue of near-north neighborhoodRestricted Content

June 1, 2009
Chris O'Malley
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County's biggest concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
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Building off Circle finally lands a tenantRestricted Content

June 1, 2009
T-Mobile has inked a five-year lease for a 2,200-square-foot space at the 2 N. Meridian St. building on the northwest corner of Washington and Meridian streets.
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Kroger eyes Zionsville locationRestricted Content

May 25, 2009
Kroger Co. is looking at land in Zionsville for a new store.
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Lucas Oil, partner invest $2M to build Hendricks lube shop

May 25, 2009
Forrest Lucas is following through on plans to take his namesake brand of oil and fuel additives to the mass market.
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Panel handicaps market recovery chancesRestricted Content

May 25, 2009
Cory Schouten
A panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May 1 at the Westin Indianapolis.
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Project manager named for I-70 beautificationRestricted Content

May 25, 2009
Cripe Architects and Engineers has been named lead consultant on a $2 million project to beautify five Interstate 70 interchanges.
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Lauth granted reprieveRestricted Content

May 25, 2009
Cory Schouten
A judge has given Lauth Group Inc. a reprieve from an equity investor that is seeking to take control of most of the developer's properties.
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Lilly, Simon receive top philanthropic awardsRestricted Content

May 25, 2009
Two global companies based in Indianapolis have been recognized for their philanthropic efforts.
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HVAC company heats up sales in cool economy through acquisitions

May 25, 2009
George Umbarger
Doubling annual sales might seem an impossible feat in a recession, but at the modest office of Williams Comfort Air and Metzler's Mr. Plumber, it is a reality.
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In recession, commercial brokers struggle to determine property valuesRestricted Content

May 25, 2009
Chip Cutter
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it's becoming increasingly difficult to determine the value of properties.
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Developer wants to turn project into apartments, officesRestricted Content

May 25, 2009
Cory Schouten
A local developer is hoping to convert an unfinished eight-story luxury condo project downtown into a mostly affordable apartment building with its headquarters on the top floor.
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Binford medical complex takes another punch

May 19, 2009
Chip CutterMore

Recession slows the creation of a self-contained Boone County communityRestricted Content

May 18, 2009
Kathleen McLaughlin
Creating a self-contained community on 1,700 acres of farmland could take much longer than the 15 to 20 years Duke Realty Corp. predicted.
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Flaherty selected to revitalize Barton, Lugar tower sitesRestricted Content

May 18, 2009
Locally based Flaherty & Collins Properties plans to build retail and residential space on land that surrounds two downtown public housing towers.
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Interior designers win right to receive certificationRestricted Content

May 18, 2009
Interior designers in Indiana, who have been pushing for the chance to become certified, finally got their wish.
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Bankrupt firm's creditors unlikely to rubber-stamp saleRestricted Content

May 18, 2009
Greg Andrews
Norwood Promotional Products Inc. suggests it's positioned to sail through bankruptcy, thanks to a pending-sales agreement. But creditors, owed nearly $300 million, are expected to balk.
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Historic windows join landmark listRestricted Content

May 11, 2009
The Historic Landmarks Foundation of Indiana has added four structures and an architectural feature to its annual list of the 10 Most Endangered Hoosier landmarks.
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REITs get boost, not scorn, for selling cheap sharesRestricted Content

May 11, 2009
Greg Andrews
Here's more evidence we're in strange times: Indianapolis' real estate investment trusts have been issuing hundreds of millions of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.
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Longtime Fall Creek shop cuts baitRestricted Content

May 11, 2009
Fall Creek Bait & Tackle is closing after 42 years in business.
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Lauth needs financing, real-estate recovery to emerge from bankruptcyRestricted Content

May 11, 2009
Cory Schouten
The 32-year-old developer Lauth Group Inc. likely will survive in some form if the company can find financing to get it through a Chapter 11 reorganization and if the real estate market doesn't take too long to turn around, experts said.
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Ritter's buyer retools custard chainRestricted Content

May 4, 2009
Sam Stall
Indianapolis residents have been passionate about Ritter's handmade frozen custard ever since it debuted almost two decades ago. But while the ice cream is sweet, the story of the former mom-and-pop company's attempts to morph into something grander is decidedly bitter. Now, New York-based TruFoods, which bought the company in May 2008, is trying to get the formula right.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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