Real Estate

St. Francis resumes work on $265M project

September 24, 2009
J.K. Wall
With its financial performance exceeding expectations, St. Francis Hospital & Health Centers will resume construction on a $265 million, 221-bed patient tower at its Indianapolis campus, the hospital system announced Thursday.
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Historic Landmarks returning to headquarters

September 24, 2009
 IBJ Staff
The Historic Landmarks Foundation of Indiana is set to return to its headquarters in downtown Indianapolis tomorrow, six months after a fire at a neighboring apartment project displaced the not-for-profit.
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Anticipated development near stadium isn't materializing

September 19, 2009
Sam Stall
Not long ago, developers seemed to vie for every square inch of open ground in the vicinity of the just-completed Lucas Oil Stadium. These days, the entire neighborhood has been pushed, if not into a financial deep freeze, then at the very least to the back of the crisper drawer.
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Developer Broadbent sues banks after they tighten credit line

September 19, 2009
Peter Schnitzler
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re wrongly attempting to restrict its access to a $50 million credit line.
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MANN: Commercial real estate is next mortgage crisisRestricted Content

September 19, 2009
Brian Mann
The cresting wave of maturing commercial real estate debt is the second act in our nation's credit crisis.
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'Dewatering' system creates space, keeps new Marriott's basement dryRestricted Content

September 19, 2009
Scott Olson
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
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Simon built mall empire from scratch, changed way America shopsRestricted Content

September 19, 2009
Cory Schouten
Melvin Simon, who died at 82 on Sept. 16, grasped early on that creation of the nation's interstate system would pave the way for large, enclosed shopping centers.
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Australian owner abandons efforts to sell Chase TowerRestricted Content

September 19, 2009
Greg Andrews
Macquarie Office Trust of Sydney has quietly pulled the 48-story Chase Tower off the market, along with a property in Boston and a property in Denver that failed to draw juicy enough offers.
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New owner to rehab two century-old apartment buildings

September 19, 2009
 IBJ Staff
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Clinton, Bird among mourners at Simon funeral

September 18, 2009
Associated Press
Former President Bill Clinton described Melvin Simon as one of the most remarkable people he's ever met as he gave a eulogy today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
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Commission OKs Ameriplex, Rexnord tax abatements

September 16, 2009
Scott Olson
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for a mammoth development known as World Connect at AmeriPlex.
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First-time homebuyers boosting residential sales

September 16, 2009
Scott Olson
Low-priced homes and foreclosures are driving a large chunk of residential real estate sales in Indianapolis, largely due to first-time home buyers taking advantage of a federal tax credit, according to a report released today by Re/Max of Indiana.
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Apartments near downtown canal slated for rehab

September 15, 2009
Tom Harton
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Anderson siblings buying city's Mounds Mall

September 15, 2009
 IBJ Staff and Associated Press
Two Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six years.
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Adjacent Central Canal parcels go on the market

September 12, 2009
Cory Schouten
The owners of two industrial properties that span an entire city block along the Central Canal downtown have put their properties up for sale with an eye toward redevelopment.
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Poll shows IBJ Daily readers keenly interested in the environment

September 12, 2009
Marc D. Allan
A solid majority of subscribers to IBJ Daily believes climate change is a serious problem, thinks carbon emissions should be regulated, and wants Indianapolis to pursue mass transit on a broad scale, according to a poll conducted in July by IBJ.
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Ex-Lauth executive: 'Every day is a struggle' after a year of unemploymentRestricted Content

September 12, 2009
Cory Schouten
Michael Hartman earned a six-figure salary as a vice president at Lauth Group Inc. until he was laid off in early 2008. Since then, he’s struggled to find a job—any job that would allow his family to stay in their Westfield home.
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Flush with cash, developer Simon revives hunt for acquisitionsRestricted Content

September 12, 2009
Greg Andrews
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed acquisitions.
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Latin market and tapas bar opening in Fishers

September 12, 2009
 IBJ Staff
The new market, which will also offer catering services, is in a strip center owned by locally based Centre Properties and anchored by Beauty Brands and Panera.
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HHGregg promotes three executives

September 9, 2009
 IBJ Staff
Indianapolis-based electronics retailer HHGregg Inc. announced the promotions of three executives this morning, including the appointment of a new chief financial officer.
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Developer Lauth's bankrupt units win round in courtRestricted Content

September 5, 2009
Cory Schouten
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals to retain control of three subsidiaries in Chapter 11 bankruptcy.
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Downtown apartment complex expanding

September 5, 2009
 IBJ Staff
The developer of The Waverley apartments downtown has filed plans to expand the complex because of high demand for one-bedroom units.
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Auto parts supplier coming to Plainfield, plans to create 30 jobs

September 4, 2009
 IBJ Staff
Chicago-based LKQ Corp., a supplier of replacement and aftermarket automotive parts, will establish a distribution center in Plainfield with plans to create up to 30 jobs by 2011, the company announced this morning.
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Kite Realty Trust CEO unloads $467K in company stock

August 31, 2009
Cory Schouten
The CEO of Kite Realty Group Trust last week sold 130,000 shares, or nearly a half-million-dollars worth, of the Indianapolis-based real estate firm’s common stock.
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Shelbyville struggles to reach tech park goalsRestricted Content

August 29, 2009
Kathleen McLaughlin
Despite recent investment by Major Health Partners, Shelbyville’s technology park is about as far from meeting state standards as it was two years ago.
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