Real Estate & Retail
City delays approval of downtown parking garage
May 24, 2012
Scott OlsonA local developer's plans for a parking garage, part of an $85 million project, met resistance from a city official who said
the structure's design needs to be more "pedestrian-friendly" for the area of Illinois and New York streets.
MoreChildren's Museum selects developer for Winona site
May 23, 2012
Local affordable housing developer The Whitsett Group has been chosen to redevelop the site on North Meridian Street. Its
other major development is a $22 million project set for the former Keystone Towers site.
MoreSteak n Shake woos real estate pros
May 23, 2012
Cory SchoutenSteak n Shake made a big splash at the International Council of Shopping Centers deal-making convention in Las Vegas as it
pushes an aggressive plan to grow via franchising.
MoreHHGregg’s profit jumps on life-insurance payout
May 23, 2012
Scott OlsonThe Indianapolis-based appliance and electronics retailer on Wednesday reported fiscal quarterly profit of $53.6 million,
including $39.6 million from a life insurance policy the company took out on former executive chairman Jerry W. Throgmartin.
MoreFirst stage of $85M downtown project up for approval
May 22, 2012
Scott OlsonThe city is set to hear a request on Thursday by a local developer to build a five-story parking garage at the corner of New
York and Illinois streets downtown. The garage is part of a development that would be anchored by a Marsh store.
MoreRetail lineup taking shape for CityWay project
May 22, 2012
Cory SchoutenCityWay has landed a fine dining restaurant, a mixology bar, a Qdoba and a frozen yogurt shop as developer Buckingham Cos.
turns its attention to the retail portion of the $155 million mixed-use project.
MoreSales of existing homes up nationally in April
May 22, 2012
IBJ Staff and Associated PressModest increases in home sales are the latest sign that the market could be starting to turn around nearly five years after
the housing bubble burst. Still, housing construction remains at roughly half the pace that economists consider a healthy
market.
MoreShareholders vote disapproval of Simon's $120M bonus
May 21, 2012
Shareholders of Simon Property Group Inc. sent a resounding message to the company that they don't approve of a $120 million
retention award given to CEO David Simon.
MoreFederal court to hear Steak n Shake franchisee appeal
May 21, 2012
Scott OlsonThe case involves an Illinois franchisee of Steak n Shake that successfully sued the company over its mandatory menu and pricing
policies. The company's appeal is set to be heard Wednesday by a federal appeals court in Chicago.
MoreBiz boosters embrace One Click, but it's no sure thing
May 19, 2012
Cory SchoutenHusband-and-wife entrepreneurs Randy and Angie Stocklin started Greenwood-based One Click Ventures out of their home with
$20,000 in 2005. They now own a portfolio of niche retail websites, including SunglassWarehouse.com, HandbagHeaven.com and
Scarves.net, which brought $5.3 million in revenue last year.
MoreMassive Anson project showing residential, retail progress
May 19, 2012
Cory SchoutenDuke Realty Corp. has retrenched at its massive Anson development in Whitestown—focusing on the most promising sections,
rearranging some of its site plans, and letting land-purchase contracts expire on about 300 acres where development prospects
are likely several years away.
MoreBinford-area neighborhood alliance upping ambitions
May 19, 2012
Kathleen McLaughlinThe two main retail centers in a northeast-side development area will be at 100-percent occupancy when Uncle Bill’s
Pet Express opens in a small space at Binford Boulevard and 71st Street. Binford Area Growth and Revitalization, a super-neighborhood
association better known as BRAG, began striving for this milestone in 2005.
MoreSouth-side medical office building in foreclosure
May 18, 2012
Munster-based Citizens Financial Bank claims the owner of the building at 1340 E. County Line Road owes $4.1 million on a
loan originating from 2002 and is seeking to have a court-appointed receiver manage the building's operations.
MoreSignature Inns founder plans auto-care franchises
May 17, 2012
Scott OlsonHonest-1 Auto Care hopes to open as many as 20 shops in Indiana over five to seven years and has tapped the founder of the
Signature Inns chain to help lead the effort.
MoreNew warehouse ends drought of spec industrial development
May 17, 2012
J.K. WallConstruction on the 794,608-square-foot warehouse will begin in the next two weeks in the AmeriPlex Business Park, officials
of Atlanta-based developer Industrial Developments International said. They hope to complete construction in December.
MoreFormer Pac-Van owners return to mobile office biz
May 16, 2012
Scott OlsonBrent and Matthew Claymon have founded OnSite Space LLC and acquired Indianapolis-based Tyson Corp., to form OnSite Space
by Tyson. The brothers sold Pac-Van in 2006 and have returned to the industry after their five-year non-compete expired.
MoreFirst-quarter profit, revenue flat for Noble Roman’s
May 15, 2012
The pizza franchisor earned $365,079 in the quarter ended March 31. But it continues to see more growth from take-n-bake products
in grocery stores.
MoreSummit lands bank tower management contract
May 15, 2012
Tom HartonSummit Realty Group assumed management of the 28-story M&I Plaza on May 14, replacing CBRE.
MoreBusiness Furniture expands into Ohio with acquisition
May 14, 2012
Indianapolis-based Business Furniture LLC, the city's largest office furniture dealer, has expanded into Ohio by acquiring
Everybody’s Workplace Solutions Inc. in Dayton.
MoreCentral Indiana home-sale agreements up in April
May 11, 2012
Purchase agreements of existing homes in the nine-county area tracked by F.C. Tucker Co. hit 2,252 last month, a 3.3-percent
increase over April 2011. Year-to-date home sales were up 12 percent.
MoreFor-profit university eyes College Park office space
May 11, 2012
J.K. WallSouth Dakota-based National American University wants to turn 35,000 square feet on the second floor of a building in the
College Park office complex into its latest campus.
MoreWRTV launches broadcast studio on Monument Circle
May 10, 2012
Scott OlsonThe Indianapolis TV station will occasionally broadcast live from the WIBC-FM 93.1 studio as part of an agreement with the
radio station's parent company, Emmis Communications Corp. WRTV is hoping to gain more exposure from the deal.
MoreMetro-area building activity dips in April
May 9, 2012
Scott OlsonPermits filed last month in the nine-county area totaled 352, a 2-percent year-over-year decrease. But activity through the
first four months remains stronger than it was during the same time last year.
MoreNoble Roman's top investor loses Green Mountain chair
May 9, 2012
Bloomberg NewsGreen Mountain Coffee Roasters Inc. has stripped founder Robert P. Stiller of his position as chairman after he sold shares
to meet a margin call at a time when the company’s trading policies prohibited such sales.
MoreMarsh CEO Kelley quits for job in New England
May 8, 2012
Cory SchoutenMarsh Supermarkets CEO Joe Kelley abruptly resigned Tuesday, and the Fishers-based chain launched a search for its third chief
executive in a little more than a year. The company named Chief Operating Officer Bill Holsworth as its interim CEO.
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Maybe they should have sold the naming rights to the new airport terminal, instead of giving it away for nothing to honor some obscure politician.
Rolls Royce Terminal sounds nice, and $10 million a year licensing fee sounds pretty good right now.
The old airport terminal was a complete dump that was a patchwork of "fixes" over the decades with a confusing and frustrating maze of roads leading to it.
The new airport terminal is well worth it.
It is the first and last impression anyone coming from any real distance remembers of our community.
It is an essential service that is used everyday, unlike the $750 million football stadium.
Nothing like putting on the Ritz.
Flipsides Pretzel Crackers
The new airport was a waste of money and it was a "legacy" project for Bart Peterson. BAA, the former airport operator, did a complete study showing that if the airport spent $275 million on the old terminal, the airport would be better positioned for the future, financially. Bart Peterson and Melina Kennedy felt differently and with the help of Patrick Dooley, then airport director, they set out in spending the money to build the new terminal. No taxpayer money is used to operate the airport, but we all pay for the new and old airport facilities through higher fees.