Real Estate & Retail

Indianapolis Conrad hotel nabs top honor

January 23, 2010
 IBJ Staff
Conrad Indianapolis and West Baden Springs Hotel have been named to Condé Nast Traveler’s Gold List 2010.
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Simon Property accepts $2.3B of notes in offer

January 22, 2010
Associated Press
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
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Simon says husband's shrinking fortune spurred new will

January 21, 2010
Greg Andrews
Bren Simon says in a new court filing that her billionaire husband Mel Simon granted her a bigger share of his fortune in the last year of his life because of alarm over Simon Property Group's plunging stock price and a sharp cut in its cash dividend.
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Finish Line forfeits incentive deal

January 20, 2010
Cory Schouten
Mall retailer The Finish Line Inc. has agreed to forfeit a potentially lucrative tax-abatement deal because it won't be able to meet a 2008 promise to create almost 200 jobs and invest $24 million at its Indianapolis headquarters.
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Simon Property Group rolls out $2.25B offering

January 20, 2010
Associated Press
Proceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
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Outlook remains grim for commercial real estate

January 20, 2010
Cory Schouten
Expect another year of rising vacancies, declining property values and distressed sales in the central Indiana commercial real estate market. That's the message from Colliers Turley Martin Tucker in its annual State of Real Estate report.
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Pioneering automobile dealer Lockhart dies

January 20, 2010
 IBJ Staff
Freda Lockhart was the first woman to open dealerships for Cadillac and Saturn automobiles.
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F.C. Tucker predicts modest rally for residential market

January 19, 2010
Cory Schouten
Central Indiana's housing market is on track to notch gains in the number of homes sold and the average sales price in 2010.
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City's industrial market fared better than most in 2009

January 19, 2010
Tom Harton
The Indianapolis industrial real estate market didn't escape the recession unscathed, but the sector outperformed most other cities and took less of a hit than in the last recession.
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City Market redevelopment hopefuls have ambitious plans

January 18, 2010
Peter Schnitzler
City Market's board president warns financing will challenge any of the six groups that responded to Mayor Greg Ballard's request for business ideas.
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Lender alleges Lauth insiders backdated loan documents

January 16, 2010
Cory Schouten
The largest creditor for Lauth Group Inc. has asked a bankruptcy judge to appoint a trustee after evidence in a related case suggested Lauth insiders may have backdated documents to thwart creditors.
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Area hospital construction taking break after expensive binge

January 16, 2010
J.K. Wall
Observers expect a lull with inpatient facilities for five years or more, but continued proliferation of outpatient clinics and surgery centers.
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Legislation to protect car dealers re-emerges at StatehouseRestricted Content

January 16, 2010
Chris O'Malley
Dozens of Chrysler and General Motors dealers in Indiana were terminated last year. Now, a dealer trade group wants to block automakers from preying on termination fears to wrest concessions from surviving dealers.
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Shiel Sexton plans $50M project near Methodist Hospital

January 16, 2010
Cory Schouten
The local construction company is drawing up plans for a mixed-use project with offices, a parking garage and retail space on several parcels it owns near Capitol Avenue and 16th Street.
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Shoppers World taking former Target space on U.S. 31 South

January 16, 2010
 IBJ Staff
The New York-based department store has one other location in Indianapolis, in Lafayette Square Mall. That store opened in 2008.
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Nature Conservancy buys 282 acres from Girl Scouts

January 16, 2010
 IBJ Staff
The land in Brown County will be turned over to the Indiana Division of Forestry.
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National animal-welfare group targets Steak n Shake

January 14, 2010
Andrea Muirragui Davis
The Humane Society of the United States bought $2,000 worth of Steak n Shake stock this week in hopes of getting the company to work with food producers that use humane farming methods.
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HHGregg shares fall after analyst downgrade

January 13, 2010
 IBJ Staff and Associated Press
Customers are buying fewer high-priced big-screen TVs from electronics chain HHGregg Inc., an analyst said Tuesday as he lowered his investment rating on the company's stock.
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Cincinnati-area builder Fischer expands to Indianapolis

January 12, 2010
Cory Schouten
Home builder hopes to sell as many as 200 houses in region this year. Fischer, which entered the Columbus, Ohio, market in 2008 after buying subdivisions from retreating builders, is using the same strategy to establish a foothold in Carmel, Westfield, Zionsville and Avon.
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Steak n Shake CEO buys more shares

January 12, 2010
Cory Schouten
Steak n Shake Co. CEO Sardar Biglari bought $290,000 worth of stock in the Indianapolis-based burger chain last week in another big bet the company's shares are undervalued.
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Kittle's Furniture shuffles executives, names new CEO

January 12, 2010
Jim Kittle Jr., the company's owner and chairman of the board, will be less involved in daily operations, giving two executives more responsibility.
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Riley Towers expansion in works

January 12, 2010
Tom Harton
The owner of the Riley Towers apartment complex is preparing to develop a 54-unit extension of the landmark downtown property.
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City's once-thriving stand-up comedy scene fades

January 9, 2010
Kathleen McLaughlin
Crackers' Broad Ripple and downtown locations are the only remaining comedy clubs in Indianapolis.
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Venue-management titans emerge as CIB front-runners

January 9, 2010
Peter Schnitzler
Experts say a unique four-way partnership that includes the Pacers and Indianapolis Convention & Visitors Association may be the favorite to run the city's sports and convention venues.
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The Flying Cupcake is among restaurants expanding as others contract

January 9, 2010
 IBJ Staff
Bobby Joe’s Beef and Brew, a popular home-grown restaurant at Southport Road and Interstate 65, has closed. Riviera Maya, billed as an authentic Mexican restaurant, is slated to replace Old Town Ale House in Fishers
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