Real Estate

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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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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$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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Judge to determine whether Lauth's filing was properRestricted Content

June 22, 2009
Cory Schouten
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company's bankruptcy cases.
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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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$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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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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Kroger eyes Zionsville locationRestricted Content

May 25, 2009
Kroger Co. is looking at land in Zionsville for a new store.
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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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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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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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Churches look for ways to pay off construction projects planned before recession took toll on collection platesRestricted Content

May 25, 2009
Kathleen McLaughlin
In Indianapolis and around the country, congregations that expanded before the recession are now taking drastic measures, including budget cuts that have resulted in layoffs, salary reductions and giving less to charities.
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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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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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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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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

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