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Real Estate & Retail
$1.7M invested in failed firm not authorized, sources say
September 25, 2006
Chris O'MalleyTrade groups that host the Indianapolis Auto Show and represent 600 car dealers in the Legislature stand to lose $1.7 million
they loaned to a local debt-collection agency--loans that sources said were made without the knowledge of the groups' boards
or membership.
MoreMinority-owned contractor Mezzetta Construction downsizes dramatically
September 25, 2006
Anthony SchoettleMezzetta Construction Inc., one of the city's largest minority-owned businesses and a contractor on the Lucas Oil Stadium
project, is downsizing its staff and auctioning off its office and construction equipment while struggling with financial
difficulties.
MoreNoblesville mega-mall begins lining up retailers: Area brokers say space is likely to lease well
September 18, 2006
Jennifer WhitsonJ.C. Penney, Best Buy and Bed Bath & Beyond plan to open stores in the $100 million open-air mall Simon Property Group Inc.
and a partner are planning to build in Noblesville, retail brokers say. In addition, Grand Rapids, Mich.-based Goodrich Quality
Theaters Inc. is in preliminary talks to open a cinema in the project, owner Bob Goodrich confirmed. Simon and another Indianapolis-based
developer, Gershman Brown & Associates, announced plans for the nearly 1-million-square-foot Hamilton Towne Centre a year
ago....
MoreNOTIONS: Dear philanthropist: Make me a daydream believer
September 18, 2006
Bruce HetrickLast month, I picked up my boys in Fort Wayne, drove north on Interstate 69, hooked a left at Interstate 94, and got off at
the Portage, Mich., exit. There, we whiled away the weekend at a family reunion. The grownups ate too much, caught up on gossip
and puttered around the lake in the speedboat. The teenagers, whom we rarely saw, did X-Box battle in the basement. On Sunday,
after the kids had surfaced for lunch and the grandparents...
MoreBEHIND THE NEWS: A Marsh without Marshes? Expect family to exit soon
September 18, 2006
Greg AndrewsMarsh Supermarkets Inc. has filed hundreds of pages of documents with the Securities and Exchange Commission in recent weeks,
but none gets to the crux of the matter: Will a Marsh remain atop Marsh Supermarkets if Boca Raton, Fla.-based Sun Capital
Partners completes its $88 million buyout of the Fishers-based company? Marsh spokeswoman Myra Borshoff Cook said executives
haven't been asked to step down so far. "They won't know anything until the deal closes," she said. But keeping a Marsh...
MoreHousing bubble on hold
September 18, 2006
Jennifer WhitsonThe inventory of central Indiana homes for sale is piling up, but the backlog so far hasn't caused prices to fall, according
to experts and industry statistics.
MoreSome call on tradition of burying St. Joseph statue to help sell homes:
September 18, 2006
-Jennifer WhitsonReal estate agents pushing to keep homes moving in a slowing market are increasingly looking for divine intervention. Local
religious supply stores say sales are up for 4-inch-tall plastic figurines of St. Joseph. Some Catholics believe that burying
the statues in a yard helps sell a house. St. Joseph statues have always sold well, but they've moved even faster in recent
months, said Beth Kuczkowski, president of the Village Dove Inc., with stores in Broad Ripple, Fishers and on the...
MoreMayor says condo plan for arena site needs more retail
September 11, 2006
Jennifer WhitsonWhen Mayor Bart Peterson announced Aug. 31 that the efforts of a partnership to build condominium towers on the former Market
Square Arena site had failed, he gave his administration 60 days to put together another deal. Peterson's vision: Hold onto
the concept of a residential tower, but add "significantly more retail."
MorePAN founder focuses on another IT venture: BubbleUp aims to standardize musicians' Web sites
September 11, 2006
Peter SchnitzlerIt didn't take David Pfenninger long to get back into the game. Just months after selling Carmel-based Internet-test provider
Performance Assessment Network Inc. in April for $75 million to St. Louis-based TALX Corp., Pfenninger is betting on another
Internet venture: an online music marketing and management startup called BubbleUp. Pfenninger initially remained part of
PAN's local management team after the acquisition, but stepped down this summer, retaining a role as a consultant. "I thought
it was time to make a...
MoreFirm sees opportunity where banks see risk: Oak Street has big hopes for insurance agency loans
September 4, 2006
Peter SchnitzlerBankers like to see plenty of collateral when they underwrite loans. Insurance agents don't have many hard assets to show
them. Free toasters won't smooth over this credit dilemma. But the leaders of the Carmel-based Oak Street companies boast
they can. And they're poised to capitalize with a fast-growing specialty lending firm. "The first line of our vision statement
says we'll build a long-term sustainable financial-services firm," said Oak Street Chairman Steven Alonso. "It's our strategy
to diversify." Founded in...
MoreNOTIONS: A travel dispatch from somewhere over the rainbow
September 4, 2006
Bruce HetrickThe sun is setting, the pavement damp, and dark clouds dance across the San Juan Mountains as we turn onto U.S. Highway 550
and drive north toward Durango. As if there weren't enough beauty in this peak-filled paradise, Nature's earlyevening sideshow
features a fully arced double rainbow, quite the welcome sign to a late-summer vacation. I suppose you could write off a double
rainbow as a mere meteorological phenomenon. I suppose I could, too. But it's more fun to wonder...
MorePepsi considering mammoth warehouse on west side: Sources say firm's been scouting sites since spring
September 4, 2006
Jennifer WhitsonA firm representing PepsiCo Inc. has been scouting sites on Indianapolis' west side for a mammoth warehouse and distribution
facility, and sources said the beverage giant is leaning toward a site near its Gatorade bottling plant. Local real estate
brokers said Chris Clayton, a broker with the Cleveland office of Dallas-based Staubach Co., visited sites and put out a request
for proposals for the project in early April, calling for 1 million square feet of industrial space with the possibility...
MoreMarket Square development deadline looming
August 28, 2006
Jennifer WhitsonRival developers are dusting off plans for the former Market Square Arena site now that the partnership the city chose for
the project appears on the verge of missing the Aug. 31 deadline to buy the land.
MoreLauth plans huge business park
August 28, 2006
Jennifer WhitsonLauth Property Group is working to complete the purchase of 550 acres it has under contract at the northeast corner of Interstate
70 and State Road 39, one interchange west of Plainfield. Lauth plans to build 7.5-million-square-foot industrial park, dubbed
Westpoint Business Park.
MoreWoman sets sights on freedom: Disability isn't keeping shop owner from goal
August 28, 2006
Candace BeatyTwo doors opened for Pam Evans on Aug. 5-one to her own clothing store and the other to her independence. The Cherry Shop
represents both to Evans, who lost most of her sight over the course of a weekend in 1998 to a genetic eye disease called
angioid streaks. Left with only her peripheral vision, she also lost her career in real estate and corporate sales. After
a period of depression, Evans decided she wouldn't lose it all. "I felt...
MorePutting a spin on 911: Law-enforcement agencies embrace reverse system
August 21, 2006
Scott OlsonLangsenkamp, CEO of Sigma Micro Corp. in Indianapolis, began conducting research on the patented Reverse 911 Interactive Community
Notification System in 1990. The technology, however, didn't hit the market en masse until a decade later. Today, roughly
350 law enforcement agencies in the United States and Canada, including those in Carmel and Beech Grove, use it to blast warnings
to residents. "It was the first system that ever allowed people to dial phone numbers and deliver messages based on the...
MoreModernized Dunkin' Donuts plans 10-plus area stores
August 21, 2006
Chris O'MalleyBoston-based Dunkin' Donuts is salivating over the prospect of ringing up big sales in Indianapolis and wants to franchise
at least 10 stores here within the next year as part of a national expansion.
MorePolitical upstart unloads auto dealership
August 21, 2006
Chris O'MalleyEric Dickerson, the Republican trying to unseat Julia Carson in the 7th congressional District, plans to sell his north-side
Buick dealership to Ed Martin Automotive Group as early as next month. But the dealership could become a campaign liability
even if it's sold.
MoreVanAusdall to auction off city block
August 21, 2006
Jennifer WhitsonLocal office equipment distributor VanAusdall & Farrar Inc. is putting an entire city block on North Meridian Street up for
auction, a move that could spur development in a corridor real estate experts say is ripe for activity. The three-acre property
is between 12th and 13th streets.
MoreVerus Partners gets busy in 1st year in local market: Chicago newcomer has 3 developments under way
August 14, 2006
Jennifer WhitsonIn 2003, four men decided to leave careers at Chicago-based development powerhouse Higgins Development Partners LLC to start
their own company. The result, Verus Partners LLC, an industrial, office and institutional developer, has grown rapidly, opening
two offices in Canada and one in Indianapolis, and is pondering a new office in Charlotte, N.C. And its 1-year-old local office
is spearheading an aggressive move focused on developing speculative industrial space. Last year, Verus hired Tom Theobald,
a 19-year commercial real estate...
MoreVOICES FROM THE INDUSTRY: Low-impact development likely to make a big impact
August 14, 2006
Brian MannEvery time Indiana experiences one of its summer cloudbursts, the rainfall sets into motion one of a real estate development's
most expensive and least appreciated systems. As rain hits the ground, it quickly collects into wellengineered courses to
swales and gutters, through pipes and culverts and into detention ponds. Flowing around, over and through the land that once
absorbed it, the water is efficiently collected and conveyed off the site. In other words, gather it up and drain it off....
MoreFountain Square district shoring up its Corners: Group turns old buildings into residential/work spaces
August 14, 2006
Scott OlsonIf State and English avenues in the Fountain Square district were on a Monopoly board, they would probably be the ones available
immediately after passing "Go." But after the Southeast Neighborhood Development Inc. is finished there, the intersection
will move several spaces closer to Park Place. The not-for-profit is investing $1 million to renovate three dilapidated buildings
it bought to convert them to residential/work spaces as part of its Fountain Square Corners development. A local photographer
who will live in...
MoreBEHIND THE NEWS: Coastal cash flowed into tiny firm, yielding big payoff
August 7, 2006
Greg AndrewsCentury Realty Trust is but a grain of sand in the universe of real estate companies. But within the last few years, the Indianapolis
firm has caught the attention of investors on the coasts, and they're the richer for it. Now that Century Realty is selling
nearly all its properties to Indianapolis-based apartment owner Buckingham Properties and liquidating, its investors likely
will collect from $20.50 a share to $21 a share, according to a filing with the U.S. Securities and...
MoreNoble Roman's seeking a return to glory
August 7, 2006
Tom MurphyNoble Roman's Inc. executives think they've found the recipe to lift their company out of its stock malaise. The Indianapolis
company started franchising last year restaurants that feature dual branding with its Tuscano's Italian Style Subs, and it
plans 157 locations within three years.
MoreCHRIS KATTERJOHN Commentary: Orange County casino a losing bet?
August 7, 2006
I'm starting to get a bad feeling about the Orange County casino project. Truth be told, I've had the bad feeling for a long
time, and now it's getting worse. The latest blip on the radar in what has been a challenged project from the get-go is the
contentious legal battle that has surfaced between the two partners: Bob Lauth of Lauth Property Group and Bloomington billionaire
Bill Cook. I guess that's not that unusual. Ed Feigenbaum, publisher of Indiana...
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See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.
Pimlico
While I understand the severity of their actions as well as everyones eagerness to hold them responsible for thier lost funds, these gentlemen did know how to make money. Dispite thier poor decisions over the ownership of Fair they had made several wise investments which paid them greatly. This proves they do have the potential to rebuild so they can repay. I do not feel they should live the life of luxuary but given an opportunity could they find ways of repaying the debts? They are doing nothing now but being a burden on tax payers. Just a thought!!!!!
You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.