Real Estate & Retail

Finish Line profit exceeds analyst expectations

December 22, 2009
 IBJ Staff
The Finish Line Inc. barely eked into the black in its fiscal third quarter, but even that exceeded analysts’ expectations.
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UPDATE: Steak n Shake turning away from core business

December 22, 2009
Cory Schouten
The Steak n Shake Co. is taking a dramatic turn away from its core business with a bid to purchase a Michigan insurer in a deal valued at almost $37 million.
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AIMCO rethinks sale of four apartment complexes

December 22, 2009
Tom Harton
A Denver-based company that just sold its largest Indianapolis apartment complex has taken its four remaining local properties off the market.
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BREAKING: Steak n Shake offers to acquire Michigan insurer

December 22, 2009
Cory Schouten
The Steak n Shake Co. has offered to acquire all of the outstanding shares of Fremont Michigan Insuracorp Inc. in a deal that could be worth almost $37 million.
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Experts see 'great concern' over local construction outlook

December 21, 2009
Scott Olson
A symbolic topping-off ceremony early this month to celebrate a milestone on the massive JW Marriott hotel project can’t hide the anxiety felt within the construction industry.
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Prosecutor Brizzi a big player in real estate

December 19, 2009
Cory Schouten
Carl Brizzi partnered on a bank branch, took an ownership interest in an office building and flipped condos.
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Property tax caps stand good odds in the 2010 legislative sessionRestricted Content

December 19, 2009
Norm Heikens
Lawmakers are likely to pass property tax legislation, which would send it to a voter referendum in November and potentially into the state constitution.
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Giant Heartland Crossing housing development hangs on

December 19, 2009
Kathleen McLaughlin
Short sales and foreclosures in this 2,200-unit development began cropping up several years ago and continue today.
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General Growth says it will consider acquisition offers

December 18, 2009
 IBJ Staff and Associated Press
General Growth Properties, the Chicago mall owner that Indianapolis-based Simon Property Group Inc. is interested in buying, said the company will consider all offers and may sell shares to the public to raise capital.
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Brightpoint pays $31M for distribution facility

December 17, 2009
Cory Schouten
Locally based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility in Plainfield.
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UPDATE: Steak n Shake plan makes 'perfect sense' to investment pro

December 15, 2009
Scott Olson, Cory Schouten
The Steak n Shake Co.’s unusual plan to initiate a reverse stock split has the support of at least one local investment adviser, if in fact the company’s CEO is attempting to model it after Warren Buffett’s holding company, Berkshire Hathaway.
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Binford group plots next steps in retail revival

December 15, 2009
Tom Harton
The commercial area at 71st Street and Binford Boulevard is recovering from its funk, but a true transformation hinges on implementing a master plan.
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Steak n Shake plans 20-1 reverse stock split

December 15, 2009
Cory Schouten
The Steak n Shake Co., in an unusual gambit, plans to initiate a reverse stock split that would reduce its number of shares outstanding from almost 29 million to just 1.4 million and boost its per-share price from roughly $12 to $240.
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Local home builder placed in receivership

December 14, 2009
Scott Olson
A receiver appointed to manage the assets of financially troubled Hansen & Horn Group Inc. will recommend whether the Indianapolis-based home builder should remain in business.
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Stout's Shoes still in step after 123 years

December 12, 2009
Brock Benefiel
After more than a century in business, Indianapolis-based Stout’s Footwear Co. isn’t just surviving. It also is proceeding with plans to open a store next year on the city’s north side.
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Espresso Book Machine could open new pages in local retailingRestricted Content

December 12, 2009
Gabrielle Poshadlo
The pricey Espresso prints and binds books while customers wait. But retailers aren't sure what to expect when the the machine gains wider acceptance.
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General Growth deal would extend Simon's mall dominance

December 12, 2009
Cory Schouten
Wall Street analysts have described the potential sale of Chicago-based General Growth Properties as a “once-in-a-lifetime opportunity” for a company to make “the deal of the decade” in the shopping-mall business.
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Greenfield chain makes gas stations a family affair

December 12, 2009
Marc D. Allan
In high-turnover industry of gas stations and convenience stores, Greenfield-based GasAmerica builds loyalty under the guidance of CEO Stephanie White-Longworth.
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Retail sales rise more than expected

December 11, 2009
Associated Press
The government's report came as a surprise because the nation's retailers have been reporting generally lackluster results for the start of the holiday shopping season.
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Area home sales tick up

December 9, 2009
Scott Olson
Home-sale agreements in the nine-county Indianapolis area rose 3.3 percent in November, marking the third consecutive month they've showed a year-over-year increase.
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Bloomington panel won't support chain-store ban

December 9, 2009
 IBJ Staff and Associated Press
A task force appointed by Bloomington's mayor will instead look at other options for protecting the small-town character of the city's downtown from standardized chain stores and eateries.
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Bella Vita restaurant planned for Circle Centre

December 8, 2009
Scott Olson
An Italian restaurant whose owner has ties to embattled local businessman Tim Durham is poised to take the first-floor space in Circle Centre mall formerly occupied by Bertolini’s.
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UPDATE: Simon stock jumps on $2.3B acquisition

December 8, 2009
Cory Schouten
Adding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25 million square feet of space.
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Patachou owner's pizzeria granted alcohol permit

December 8, 2009
Scott Olson
Café Patachou owner Martha Hoover’s plan to open a pizzeria next to her trademark eatery at 49th and Pennsylvania streets in Indianapolis cleared its final hurdle Monday.
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Simon buying Prime Outlets in $2.3B deal

December 8, 2009
Cory Schouten
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a privately held firm that owns 22 of the giant properties.
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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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