Real Estate & Retail

Ownership switch eyed for Anderson's Wigwam gym

May 22, 2014
Associated Press
Officials are working on the details of transferring ownership of Anderson's iconic Wigwam gymnasium to the city as part of the effort to save it.
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State scrutiny of Village Pantry safety issues set to end

May 22, 2014
Scott Olson
The convenience store chain has been taking corrective action to better protect employees after the shootings of Indianapolis clerks in 2009 and 2011.
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Former real estate broker faces felony charges

May 21, 2014
 IBJ Staff
The Marion County prosecutor’s office said David Garden was charged with corrupt business influence, 11 counts of forgery and 15 counts of theft.
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HDG Mansur affiliate losing ownership of Market Tower

May 21, 2014
Scott Olson
A Marion Superior Court judge on Tuesday entered a judgment to foreclose on the downtown building after MT Acquisitions LLC failed to pay its nearly $60 million mortgage balance.
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Grab-and-go meals on menu for Patachou owner

May 21, 2014
Scott Olson
Local restaurateur and entrepreneur Martha Hoover wants to open kiosks offering healthy meals on the go in public places, including along the Monon Trail.
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HHGregg reports quarterly loss, lower revenue

May 20, 2014
Scott Olson
As expected, the company Tuesday morning reported disappointing fourth-quarter sales that led to a $7.2 million loss for the Indianapolis-based appliance, electronics and furniture retailer.
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Developer seeks abatement on $24M UIndy project

May 20, 2014
Scott Olson
The University of Indianapolis has selected local developer Strategic Capital Partners LLC to build its health sciences center. To help offset its investment costs, Strategy Capital has requested a tax abatement valued at $2.5 million.
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Simon partner looks to buy out co-owners in expansion drive

May 19, 2014
Bloomberg News
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
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Stadium project a homecoming for Indianapolis-based designer

May 19, 2014
Associated Press
Dan McCloskey, who works for Indianapolis-based American Structurepoint, has been named senior project architect on the recently unveiled $11.5 million Kokomo Municipal Stadium in downtown Kokomo.
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1960s-era city zoning code gets overhaulRestricted Content

May 17, 2014
Kathleen McLaughlin
City planners hope a proposed overhaul of the Indianapolis zoning code that’s just a few weeks from its public unveiling will make the city greener and more bike- and pedestrian-friendly while easing the path to high-density, mixed-use development.
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Aging suburbs facing long road backRestricted Content

May 17, 2014
Kathleen McLaughlin
Poverty is encroaching on the outer townships of Marion County, adding to their handicap in the competition with doughnut counties, where houses are newer, and sidewalks, sewer connections and bike paths come standard.
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BMO Harris shaking up rules of game for car loansRestricted Content

May 17, 2014
Chris O'Malley
BMO Harris Bank’s dealer compensation change—to a flat-fee based on a vehicle’s purchase price—brings to light how consumers have for years unknowingly footed a payment to dealers through higher interest rates on their car loans.
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Strapped schools are wheeling and dealing with municipalities

May 17, 2014
Andrea Muirragui Davis
State-mandated tax caps are putting additional pressure on public budgets—and spurring local governments to take unusual steps to help their cash-strapped schools.
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Carmel selling vacant land in Old Town neighborhood

May 14, 2014
Andrea Muirragui Davis
The Carmel Redevelopment Commission is accepting offers for an undeveloped parcel of land in the city's resurgent Old Town neighborhood, near a planned expansion of a popular subdivision.
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Indiana Limestone gets back to work under new owner

May 14, 2014
Indiana Limestone Co. technically closed and laid off all its workers earlier this month to fulfill a bankruptcy plan, then a few days later reopened with the new owners and rehired employees.
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Existing-home sales sink for eighth straight month

May 14, 2014
 IBJ Staff
Home-sale agreements dropped nearly 20 percent in the nine-county Indianapolis area in April. Home prices continued to rise as inventories shrank.
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Homebuilders see third straight month of rising demand

May 14, 2014
On a year-over-year basis, home-construction permit filings in the nine-county area have risen in 13 of the last 16 months.
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U.S. retail sales show scant April increase

May 13, 2014
Associated Press
The Commerce Department said Tuesday that seasonally adjusted retail sales rose just 0.1 percent in April. Excluding autos and gasoline, retail sales fell 0.1 percent last month.
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Luxury Clearwater apartment complex on market

May 13, 2014
Scott Olson
82 Flats, which opened last year and is 95-percent occupied, could fetch $35 million for its developer, Cityscape Residential, formerly known as Hearthview Residential.
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Feds probe whether HDG Mansur took millions from clientRestricted Content

May 10, 2014
Scott Olson
HDG Mansur has divulged in court documents that it’s the target of a federal criminal probe for allegedly skimming millions of dollars from a client.
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Up-and-comer molds city's justice center dealRestricted Content

May 10, 2014
Kathleen McLaughlin
David Rosenberg, 28, leads Mayor Greg Ballard’s effort to build a new jail and criminal courts for Marion County, which could cost as much as $400 million, all with no new revenue.
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Mortgage rates sink to 2014 low

May 8, 2014
Associated Press
Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers, while many homeowners are reluctant to list their properties for sale.
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Whole Foods confirmed as Market Square anchor

May 6, 2014
Scott Olson
The specialty grocery chain will occupy 40,000 square feet on the ground level of the $81 million development slated to be built on a portion of the former Market Square Arena site.
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HHGregg launches rebranding effort to improve sales

May 6, 2014
Scott Olson
The electronics and appliance chain has unveiled a new logo and advertising spots, in addition to improvements to its website and delivery service, as it attempts to keep pace with competitors.
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City Dems propose $16 million more for road repairs

May 6, 2014
Kathleen McLaughlin
Indianapolis City-County Council Democrats want to spend $16 million more on emergency road work. The Democrats oppose Republican Mayor Greg Ballard's plan for a $150 million bond issue and instead want to tap general and special funds.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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