Real Estate & Retail

Area homebuilding permit filings down in July

August 13, 2014
Permit filings for home construction in central Indiana fell 5 percent last month, the first decline the market has seen since January.
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Mainstreet's Turner to sell REIT in $2.3B deal

August 13, 2014
Bloomberg News, J.K. Wall
HealthLease Properties REIT, which is led by Mainstreet Property's Zeke Turner, will be sold to Ohio-based Health Care REIT Inc., along with 17 projects Mainstreet has under construction. The deal includes 45 future projects.
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Lender forecloses on two downtown office buildings

August 13, 2014
Scott Olson
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county's proposed criminal justice complex.
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Kite shares start trading under 1-for-4 split

August 12, 2014
Kite Realty Group Trust's stock fetched $25 on Tuesday, an increase of more than 300 percent from the previous close, after the company's split took effect.
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Revitalization plan brings new homes to Crown Hill area

August 12, 2014
Dennis Barbosa
Near North Development Corp. is serving as master developer of the project, which is using $488,000 in U.S. Department of Housing and Urban Development grants.
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Noble Roman's dough rises with higher profit, revenue

August 12, 2014
Scott Olson
The Indianapolis-based franchisor continues to focus on offering take-and-bake pizzas in grocery stores and stand-alone locations to grow revenue.
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Buckingham reignites plan for Lantern Commons project

August 11, 2014
Scott Olson
Buckingham's plans for the property at U.S. 31 and 161st Street in Westfield show a mix of retail and residential uses.
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Browning/Duke building huge Plainfield distribution facility

August 11, 2014
The speculative building totaling more than 930,000 square feet will be constructed at the developers' AllPoints Midwest industrial park.
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New judicial center would set off an office exodus downtown

August 9, 2014
Scott Olson
New justice center would clear swaths of offices, raising vacancy rates at a time when the market is struggling.
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Steak n Shake bringing menu fixtures to the freezer aisle

August 9, 2014
Scott Olson
Officials of the 80-year-old chain believe selling steakburgers in groceries will further extend the Steak n Shake brand.
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$500M Indy justice center relies on novel funding

August 9, 2014
Kathleen McLaughlin
The city will pay an annual fee to a private-sector consortium that will design, build, finance, maintain and operate the facility. According to the Ballard administration, the project won’t require a tax hike.
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New Simon VC arm making bets on retail technology

August 9, 2014
Greg Andrews
The newly formed Simon Venture Group is betting millions of dollars on nascent technology companies that hope to reshape retailing.
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Building spree reshaping Broad Ripple VillageRestricted Content

August 9, 2014
Dennis Barbosa
A rush of new office, residential and retail projects suggest real estate developers in Broad Ripple Village remain optimistic in the midst of high-profile incidents of crime.
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IUPUI plans to build $45 million residence hall

August 8, 2014
Jeff Newman
IUPUI hopes to build a $45 million residence hall for 700 students on the campus in time for the 2016-17 academic year, the university announced Friday afternoon.
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Mike's Carwash splitting into two companies

August 7, 2014
Scott Olson
The central Indiana locations of Mike's will undergo a name change as part of the reorganization and will be called Crew Carwash effective Oct. 5. Other locations in Indiana, Ohio and Kentucky will retain the Mike's name.
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City OKs $10M in street upgrades for natatorium plan

August 6, 2014
 IBJ Staff
The Indianapolis Metropolitan Development Commission on Wednesday approved $10 million in downtown tax-increment financing funds to pay for street improvements on the IUPUI campus. The contribution works in conjunction with IUPUI's $20 million overhaul of the IU Natatorium.
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Amazon extends same-day delivery service to Indy

August 6, 2014
 IBJ Staff
Beginning Wednesday, local customers who subscribe to Amazon's Prime service can order items as late as noon and receive them by 9 p.m. the same day for a flat service charge.
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Second city Land Bank defendant pleads guilty

August 6, 2014
Cory Schouten
A second defendant in an alleged kickback scheme involving the Indy Land Bank has pleaded guilty, and a judge has moved a trial for three remaining defendants to early 2015.
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Memories, recipes all that remain of Indy bakery chain

August 6, 2014
Associated Press
There were 34 Roselyn stores in Marion and the surrounding counties before the business was closed 15 years ago following revelations of insect and rodent infestation at its production bakery.
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Ten-acre parcel near Colts stadium hits the market

August 6, 2014
Scott Olson
The vacant property west of Lucas Oil Stadium could get a boost from redevelopment efforts at the former GM stamping plant site just across White River.
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Walgreen turns down inversion, to keep HQ in U.S.

August 6, 2014
Associated Press
The nation's largest drugstore chain said it will no longer pursue an overseas reorganization that would have trimmed the amount of U.S. taxes it pays.
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Construction blitz in full swing around Ball State

August 5, 2014
Associated Press
With less than two weeks until the start of classes at Ball State University, businesses in Muncie that will cater to students are racing to complete their building projects.
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Van Rooy converting more units to market rate

August 5, 2014
Scott Olson
The local apartment owner and manager will spend $2.5 million to upgrade Ransom Place near the IUPUI campus from Section 8 housing. It's the second time the company has undertaken such a project in the neighborhood the past few years.
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State eyes downtown site for $17M archives project

August 4, 2014
Mason King
Officials want developers to submit plans for a site on the American Legion Mall, including an existing historic building and a 36,000-square-foot addition.
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REI Investments agrees to buy site of former GM stamping plant

August 4, 2014
Scott Olson
The local developer plans to purchase the entire 102-acre property, which has been earmarked for a 15,000-seat outdoor concert venue and the city's new criminal justice complex.
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