Real Estate & Retail

Former Smith-Holden Music employees open new Bloomington store

November 7, 2009
 IBJ Staff
Two key employees of the recently closed store in downtown Bloomington have opened their own venture, Melody Music Shop.
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IUPUI mulling options for old Wishard Hospital siteRestricted Content

November 7, 2009
J.K. Wall
The most obvious use for the old Wishard site is an expansion of the Indiana University School of Medicine, particularly for medical research space, university administrators said.
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IURC conducts review of Centennial's telecom serviceRestricted Content

November 7, 2009
Chris O'Malley
Every neighborhood has its battles, but the 1,017-resident Centennial subdivision in Westfield is embroiled in one of the most unusual: a very public fight over the adequacy of its phone, Internet and video service.
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A peek at the future: Nature Conservancy's 'green' HQ

November 7, 2009
Cory Schouten
Work is on schedule for a new headquarters for The Nature Conservancy of Indiana, which includes a variety of first-in-Indianapolis "green" features. Tour the building through IBJ's narrated slideshow.
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Kite Realty takes big write-off, dragging down quarterly results

November 5, 2009
Cory Schouten
Kite Realty Group Trust reported a 70 percent drop in funds from operations for the quarter ended Sept. 30, after the Indianapolis-based developer wrote off the entire book value of a Dallas strip center.
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Companies fined over death at convention center site

November 5, 2009
The Indiana Department of Labor has completed its investigation into the death of a construction worker at the expansion site of the Indiana Convention Center and fined four local companies a total of $31,000 for safety violations.
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HHGregg's quarterly earnings, sales jump

November 5, 2009
HHGregg reported a rise in quarterly profit and sales Thursday morning that exceeded analyst expectations, despite a decrease in same-store sales.
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Bloomington chamber weighs in on chain-store ban

November 4, 2009
Kathleen McLaughlin
The Greater Bloomington Chamber of Commerce is opposing Mayor Mark Kruzan’s proposal to restrict chain stores and restaurants downtown.
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Hat World acquires 37-store Sports Fan-Attic chain

November 3, 2009
Cory Schouten
Locally based Hat World Inc. has agreed to acquire a popular 37-store athletic retail chain in hopes of doing for collegiate and professional sports licensed apparel what Hat World did for headwear.
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City Market board sought 3-year closure for redevelopment

November 3, 2009
Peter Schnitzler
Board president says he quit after Indianapolis Mayor Greg Ballard declined proposal to shut down historic landmark until 2013 for major renovation.
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Properties in play along Market Street

November 3, 2009
Tom Harton
Four properties for sale along a two-block stretch of East Market Street downtown are likely to offer the first signs of what’s in store for an area real estate brokers think will get a boost from the recent removal of the Market Street interstate ramp.
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Anderson gas-station chain sues BP after 32-store deal sours

October 31, 2009
Peter Schnitzler
Ricker Oil's Oct. 22 suit claims British petroleum giant BP is charging unjustified royalty fees while delivering no boost from its national advertising, its proprietary IT system or its bulk purchase pricing.
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Steak n Shake's Biglari adds intrigue by buying stake in insurer

October 31, 2009
Greg Andrews
The Indianapolis-based company's CEO revealed earlier this year that he intends to use Steak n Shake as a holding company that will pursue purchases “either related or unrelated to its ongoing business activities.”
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RCI to become Wyndham Exchange; says Carmel jobs are safeRestricted Content

October 31, 2009
Anthony Schoettle
Despite a swooning economy that has hammered the time-share condominium industry over the last 18 months, Resort Condominiums International continues to outperform its market. That’s not to say there hasn’t been some pain at the company formerly headquartered in Carmel.
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Clarian restarts construction on hospital in Fishers

October 30, 2009
J.K. Wall
Clarian Health has resumed construction on its Saxony Medical Center in Fishers after an 8-month hiatus, the Indianapolis-based hospital system announced Friday.
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Downtown upscale eateries cancel their lunch plans

October 30, 2009
Mason King
While fast food remains a favorite for value-minded patrons, several higher-end restaurants in the Mile Square and its nearby environs have decided in the last year to pull the tablecloth out from under their lunch service.
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Developer buying Fountain Square building; museum lined up as tenant

October 30, 2009
Kathleen McLaughlin
Architect and developer Craig Von Deylen hopes to close by next week on the purchase of the Murphy Arts Center in Fountain Square and is in the process of signing new tenants, including the Indianapolis Museum of Contemporary Art.
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State rejects high bid for 19-acre parcel near downtown

October 30, 2009
Cory Schouten
The Indiana Finance Authority declined to sell a 19-acre development parcel between the White River and Fall Creek near downtown Indianapolis after it received only two bids at an auction Thursday.
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Simon reports slight improvement in quarterly results

October 30, 2009
Cory Schouten
Simon Property Group Inc. reported slightly higher funds from operation for its fiscal third quarter, but FFO fell on a per-share basis thanks to the company's issuance of more than 50 million new shares so far this year.
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NCAA approves $35M addition to Indianapolis headquarters

October 29, 2009
 IBJ Staff and Associated Press
The NCAA executive committee on Thursday approved a $35 million addition to the governing body's headquarters in White River State Park in Indianapolis.
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Duke Realty reports massive third-quarter loss

October 29, 2009
Cory Schouten
Big write-downs on raw land and projects under development led to a wide third-quarter loss for Duke Realty Corp.
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Center Township seeks redevelopment bids for former YMCA

October 28, 2009
Cory Schouten
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down the building and redeveloping the prime 2-acre site.
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Concrete firm agrees to pay $29M in price-fixing case

October 27, 2009
 IBJ Staff and Associated Press
A lawyer says Irving Materials Inc. has agreed to pay $29 million to settle a class-action antitrust lawsuit alleging it and six other companies conspired to fix the price of ready-mixed concrete.
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With airport hotel stalled, Hendricks County makes its move

October 27, 2009
Cory Schouten
Hendricks County's moves to entice a developer to build a conference hotel in Plainfield could further crimp plans for a hotel attached to the new Indianapolis International Airport terminal.
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Lilly to move 1,000 from Faris campus

October 26, 2009
J.K. Wall
As it shrinks its work force, Indianapolis-based pharmaceutical firm Eli Lilly and Co. will move more than 1,000 employees to its corporate center by mid-2010.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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