Real Estate & Retail

Simon built mall empire from scratch, changed way America shopsRestricted Content

September 19, 2009
Cory Schouten
Melvin Simon, who died at 82 on Sept. 16, grasped early on that creation of the nation's interstate system would pave the way for large, enclosed shopping centers.
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Australian owner abandons efforts to sell Chase TowerRestricted Content

September 19, 2009
Greg Andrews
Macquarie Office Trust of Sydney has quietly pulled the 48-story Chase Tower off the market, along with a property in Boston and a property in Denver that failed to draw juicy enough offers.
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New owner to rehab two century-old apartment buildings

September 19, 2009
 IBJ Staff
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Clinton, Bird among mourners at Simon funeral

September 18, 2009
Associated Press
Former President Bill Clinton described Melvin Simon as one of the most remarkable people he's ever met as he gave a eulogy today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
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Commission OKs Ameriplex, Rexnord tax abatements

September 16, 2009
Scott Olson
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for a mammoth development known as World Connect at AmeriPlex.
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UPDATE: Simon remembered for vision, courage

September 16, 2009
Cory Schouten
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic cancer.
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First-time homebuyers boosting residential sales

September 16, 2009
Scott Olson
Low-priced homes and foreclosures are driving a large chunk of residential real estate sales in Indianapolis, largely due to first-time home buyers taking advantage of a federal tax credit, according to a report released today by Re/Max of Indiana.
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'Community icon' Melvin Simon dies

September 16, 2009
Cory Schouten
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
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Apartments near downtown canal slated for rehab

September 15, 2009
Tom Harton
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Anderson siblings buying city's Mounds Mall

September 15, 2009
 IBJ Staff and Associated Press
Two Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six years.
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Adjacent Central Canal parcels go on the market

September 12, 2009
Cory Schouten
The owners of two industrial properties that span an entire city block along the Central Canal downtown have put their properties up for sale with an eye toward redevelopment.
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Ex-Lauth executive: 'Every day is a struggle' after a year of unemploymentRestricted Content

September 12, 2009
Cory Schouten
Michael Hartman earned a six-figure salary as a vice president at Lauth Group Inc. until he was laid off in early 2008. Since then, he’s struggled to find a job—any job that would allow his family to stay in their Westfield home.
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Flush with cash, developer Simon revives hunt for acquisitionsRestricted Content

September 12, 2009
Greg Andrews
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed acquisitions.
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Latin market and tapas bar opening in Fishers

September 12, 2009
 IBJ Staff
The new market, which will also offer catering services, is in a strip center owned by locally based Centre Properties and anchored by Beauty Brands and Panera.
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Music Mill to reopen again under new owner

September 11, 2009
Jeff Newman, Scott Olson
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators, has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last night that he has purchased the Music Mill and plans to reopen it Oct. 12.
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Area home-sale agreements level off, prices still falling

September 10, 2009
 IBJ Staff
The housing slump may be weakening in the nine-county Indianapolis area, if a report released today by F.C. Tucker Co. is any indication.
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HHGregg promotes three executives

September 9, 2009
 IBJ Staff
Indianapolis-based electronics retailer HHGregg Inc. announced the promotions of three executives this morning, including the appointment of a new chief financial officer.
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Soft sales plague furniture retailers

September 5, 2009
Cory Schouten
Furniture is one of the easiest big-ticket purchases for consumers to defer when money is tight. Couple that with a housing bust that left demand for new couches on the curb, and tight credit markets that continue to prevent retailers from financing customers without perfect credit, and you’ve got the worst market for furniture since the Great Depression.
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Building information modeling replacing computer-aided designRestricted Content

September 5, 2009
Scott Olson
Architects, engineers, contractors and others in the design-build industry hope building information modeling will cut waste. The technology allows more detailed viewing of projects before they move to construction.
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Developer Lauth's bankrupt units win round in courtRestricted Content

September 5, 2009
Cory Schouten
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals to retain control of three subsidiaries in Chapter 11 bankruptcy.
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Sidewalk inspections help downtown get spiffed up for big eventsRestricted Content

September 5, 2009
Marc D. Allan
They used to say that downtown Indianapolis rolled up the sidewalks at 6 p.m. No one says that anymore. Now they say those sidewalks need to be clean. Sidewalk cleanliness is important on a day-to-day basis for aesthetic reasons, but even more so when Indianapolis wants to put on its best face for major events like the Final Four, the Indianapolis 500 and the Super Bowl.
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Downtown apartment complex expanding

September 5, 2009
 IBJ Staff
The developer of The Waverley apartments downtown has filed plans to expand the complex because of high demand for one-bedroom units.
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Kite Realty Trust CEO unloads $467K in company stock

August 31, 2009
Cory Schouten
The CEO of Kite Realty Group Trust last week sold 130,000 shares, or nearly a half-million-dollars worth, of the Indianapolis-based real estate firm’s common stock.
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HHGregg, other retailers await stimulus joltRestricted Content

August 29, 2009
Cory Schouten
Appliance retailers are poised to take a page from the car dealership playbook in promoting a new government program offering rebates on energy-efficient washers, refrigerators and air conditioners.
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Real estate firm launches in rough watersRestricted Content

August 29, 2009
Kim Puckett
Business partners Dan Adams and Bob Harton left a real estate franchise to start an agency of their own.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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