Real Estate & Retail

Carmelites balk at sewer-overflow tank planned next to church

July 25, 2014
Dennis Barbosa
The Clay Township Regional Waste District has made a $106,800 offer to King of Glory Church to buy land for the above-ground tank, which would be the size of a one-story McMansion.
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Simon profit jumps on improving occupancy, rents

July 23, 2014
The company reported a 20-percent increase in profit in the second quarter as occupancy in its malls climbed to 96.5 percent, prompting Simon to raise its guidance.
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UPDATE: Lowe's to invest $20.5M in customer-service center

July 22, 2014
Mason King
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
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Kite Realty to engineer 1-for-4 reverse stock split

July 22, 2014
Mason King
The move will hike the real estate firm's stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.
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Interactive Intelligence set to break ground on $12.5M building

July 22, 2014
Scott Olson
The 119,000-square-foot structure will be built next to the software developer's headquarters on the northwest side as part of its growth plans to add 430 employees within the next few years.
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Area home-construction permit filings tick up

July 22, 2014
 IBJ Staff
Filings in the nine-county metro area have shown slight year-over-year improvement in four of this year’s six months.
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Judge blocks ordinance aimed at I-69 work noise

July 21, 2014
Associated Press
Marion County Judge David Dreyer issued a temporary injunction Monday blocking a Monroe County ordinance that limited noise on the project between 10 p.m. and 6 a.m.
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Developer seeks $11.5M subsidy for Carmel project

July 21, 2014
Andrea Muirragui Davis
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it's planning.
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Well-known east-side Mexican eatery closes

July 21, 2014
Scott Olson
El Sol de Tala, a staple on East Washington Street for several decades, shut its doors earlier this month amid a court dispute between the restaurant's owner and his landlord.
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HHGregg ready to dust off, ramp up Fine Lines conceptRestricted Content

July 19, 2014
Greg Andrews
HHGregg's high-end-appliance Fine Lines stores are shifting into the spotlight as the struggling retailer looks for ways to offset declining consumer electronics sales.
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Kite CEO 'not afraid to continue to grow'Restricted Content

July 19, 2014
Scott Olson
In an interview with IBJ, Kite Realty Group Trust CEO John Kite discusses the $1.2 billion acquisition of Illinois-based Inland Diversified Real Estate Trust, potential redevelopment of Pan Am Plaza and its hopes to keep a branch of the Indianapolis-Marion County Public Library at Glendale Town Center.
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Spec distribution center fully leased in AnsonRestricted Content

July 19, 2014
 IBJ Staff
A joint venture between developers Browning Investments Inc. and Duke Realty Corp. announced July 15 that Chattanoogo Tenn.-based Kenco, a third-party logistics provider, has taken the remaining 257,000 square feet.
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State to scope downtown block for new offices, parking

July 18, 2014
Kathleen McLaughlin
The Office of Management and Budget will study a state-owned parcel just north of the Statehouse, potentially to house the judiciary and provide more legislative office space.
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Clock ticks on Wigwam's fate

July 18, 2014
Associated Press
Anderson officials say the city will take ownership of the iconic gym, but only if it has a binding agreement by Sept. 2 with a group to reopen the Wigwam.
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Plane piloted by Simon exec made 'popping' noise before crash

July 18, 2014
Associated Press
A preliminary report by the National Transportation Safety Board quotes two witnesses as saying they saw the airplane trailing blue smoke during its takeoff and described the sound of the engine as "popping" or misfiring.
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U.S. home construction drops 9.3 percent in June

July 17, 2014
Associated Press
U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year.
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Cummins to pick from New York firms to design downtown offices

July 16, 2014
 IBJ Staff
Cummins Inc. plans to pick a proposal from one of three New York-based architecture firms vying to design its global distribution headquarters downtown.
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New downtown concert venue to seat 15,000

July 16, 2014
Scott Olson
A music amphitheater soon will take center stage on the site of the former General Motors metal-stamping plant on the western edge of downtown, sources tell IBJ.
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Indy home sales likely slowing to 'new normal'

July 16, 2014
 IBJ Staff
Home-sale agreements tumbled 14.9 percent in the nine-county Indianapolis area in June, the tenth straight month deals have decreased, according to F.C. Tucker Co.
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Study: U.S. millennials buying homes later in life

July 15, 2014
Associated Press
The number of first-time homebuyers in May was near record lows at 27 percent, versus a historic average of 40 percent.
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Ex-HHGregg manager's lawsuit grows into class-action

July 15, 2014
Scott Olson
The lawsuit now includes 62 current and former HHGregg employees who claim they were denied incentive bonuses totaling about $5 million.
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Convenience stores remount challenge to cold-beer laws

July 15, 2014
Mason King, Associated Press
Convenience stores in Indiana are appealing a decision from a federal judge in June that continued to prohibit them from selling cold beer.
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Seventy-lot subdivision slated for Fort Harrison property

July 15, 2014
Scott Olson
The proposed Residences of Lawrence at Fort Ben subdivision would be the first single-family project on the former army base since it closed in 1995.
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City focuses on streets in $30M natatorium plan

July 14, 2014
Kathleen McLaughlin
Mayor Greg Ballard on Monday morning unveiled details of the plan, in which IUPUI and Lilly Endowment each contribute $10 million for the IU Natatorium renovation. The city's $10 million part of the plan involves nearby streets.
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Excise police warn retirement home about social-hour alcohol

July 12, 2014
Associated Press
Indiana excise police told Meadowood Retirement Community that it could no longer serve its residents alcohol without a state liquor license from the Indiana Alcohol and Tobacco Commission.
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