Real Estate & Retail

Regulators take interest in Simon's play for Prime Outlets

February 27, 2010
Bloomberg News
The Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets Acquisition Co.
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Tech-savvy Scotty's owner eyes national expansion

February 27, 2010
Andrea Muirragui Davis
Scotty watch videoScott Wise has five Scotty's Brewhouse locations and is set to debut the Scotty's Lakehouse concept Monday. Within 10 years, he'd like to have restaurants in the Southeast and on the West Coast.
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Restoration planned for landmark Old Centrum propertyRestricted Content

February 27, 2010
Cory Schouten
The Historic Landmarks Foundation of Indiana plans to acquire the Romanesque Revival former church and is considering moving its headquarters there.
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Redevelopment planned for site of former juvenile facilityRestricted Content

February 27, 2010
Cory Schouten
King Park Area Development Corp. is preparing to approach developers interested in submitting plans for the 1.8-acre site, the equivalent of about eight residential lots.
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Disagreement about parking delays project on Meridian Street

February 27, 2010
 IBJ Staff
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
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General Growth seeks to block lawsuit over Simon bid

February 26, 2010
Bloomberg News
General Growth Properties Inc. asked a judge to block a shareholder lawsuit accusing its board of improperly rejecting an acquisition bid from Simon Property Group Inc.
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Scotty's owner planning to open microbrewery

February 26, 2010
Andrea Muirragui Davis
Indianapolis restaurateur Scott Wise is moving forward with plans to launch Scotty’s Thr3e Wise Men Brewing Co., a microbrewery that will produce craft beer for his eateries and the public. It will share space with another startup craft brewer.
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Battle for General Growth biggest real estate fight in years

February 25, 2010
Bloomberg News
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate skirmish since the sale of Sam Zell's Equity Office Properties Trust.
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Westfield Group enters General Growth fray, source says

February 25, 2010
Bloomberg News
Additional offers beyond those by Simon Property Group and Brookfield Asset Management may emerge, General Growth President Thomas H. Nolan Jr. said.
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Brookfield deal doesn't put Simon out of General Growth game

February 25, 2010
Bloomberg News
The bid by Simon Property was an "initial salvo" and the Brookfield plan likely will prompt a new offer from the Indianapolis-based mall owner, real estate research analyst says.
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General Growth plans to split in two to exit bankruptcy

February 24, 2010
Bloomberg News
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield Asset Management Inc
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IU president plans aggressive building campaign

February 24, 2010
J.K. Wall
In a speech Tuesday, President Michael McRobbie said IU is gunning to construct at least 12 buildings on its Bloomington and Indianapolis campuses in spite of the economy and falling state funding.
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Brookfield after 30-percent stake in General Growth, source says

February 23, 2010
Bloomberg News
The plan by Toronto-based Brookfield Asset Management would give General Growth Properties a higher valuation than a $10 billion takeover bid by Simon Property Group.
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Resource Commercial Real Estate pursuing Colliers flag

February 23, 2010
Cory Schouten
Resource Commercial Real Estate is one of a handful of local real estate brokerage firms angling to take over an affiliation with Colliers International.
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Report: Brookfield plans bid for Simon target General Growth

February 23, 2010
Bloomberg News
Brookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
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Receiver: Insolvent Hansen & Horn should be liquidated

February 22, 2010
Scott Olson
The troubled home builder's $14.5 million in liabilities are twice as much as its assets, receiver tells Marion County judge, who takes the recommendation under advisement.
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Metro-area home sales plummet

February 22, 2010
January home sales in the nine-county Indianapolis area fell 16.5 percent from the same month last year, according to a report from Re/Max of Indiana. But the housing news wasn't all bad. The average price of a home in the area jumped 12.1 percent.
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Commercial brokers trying property management in hard times

February 20, 2010
Scott Olson
The commercial real estate slump is prompting several Indianapolis brokerages to add property-management services to their portfolios or bolster existing ones.
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Simon's $10 billion bid for bankrupt General Growth roils retailingRestricted Content

February 20, 2010
Cory Schouten
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
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Millionaire lawyer jumps into Melvin Simon will fight

February 20, 2010
Greg Andrews
Mike Ciresi, who’s representing widow Bren Simon, helped win a $6 billion settlement from the tobacco industry.
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Urban Land Institute chapter launches in IndianapolisRestricted Content

February 20, 2010
Cory Schouten
Chapter, heavily populated by developers, hopes to guide sustainable development.
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TROY: New law frees contaminated real estate from purgatory

February 20, 2010
Paul Troy
State environmental regulators now must consider leaving contamination in the ground so long as it doesn't threaten health
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General Growth board sued for rejecting $10B Simon bid

February 20, 2010
Bloomberg News
Directors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have rejected a $10 billion buyout offer from competitor Simon Property Group Inc.
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Airport picks team to study re-use of land at old terminal site

February 19, 2010
Chris O'Malley
The Indianapolis Airport Authority's plan for the next "30 to 50 years" starts with a team tapped Friday morning. Five firms will study ways to use airport property, including the former passenger terminal.
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Apartment developer plans 217 units in Lawrence

February 19, 2010
Cory Schouten
J.C. Hart Co. is designing plans for a $17 million upscale apartment community as part of the master-planned Lawrence Village at the Fort.
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