Real Estate & Retail

Indianapolis lawyer to open bar and lounge in 3Mass building on Mass Ave

November 21, 2009
 IBJ Staff
The bar, which isn't yet named, will be Baker & Daniels lawyer Trevor Belden's first bar.
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Indianapolis looks to Cleveland, Philadelphia for City Market examples

November 21, 2009
 IBJ Staff
The troubled Indianapolis City Market is looking East for a new direction. This summer, its executive director, Jim Reilly, visited Philadelphia and Cleveland to observe their successful urban markets and seek pointers that might be applied here.
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Airport retailers want relief from street pricing policy

November 21, 2009
Chris O'Malley
Airport concessionaires stung by a 10-percent drop in passenger traffic have asked the Indianapolis Airport Authority to ease a policy that was implemented more than 10 years ago to keep prices in line with what consumers pay outside the airport.
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RELLER: Refinancings likely to undermine prices for commercial real estateRestricted Content

November 21, 2009
Ross Reller
Buyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
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Pizza restaurants in works; wine shop heading to Fishers

November 21, 2009
 IBJ Staff
Hot Box Pizza plans to open a downtown location in the Harness Factory Lofts building, and WineTyme, a new local shop selling wines, craft beers and gourmet food, is coming to Fishers.
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Boot, apparel sales boost Shoe Carnival profit

November 20, 2009
Shoe Carnival Inc.'s quarterly same-store sales, which measure revenue from locations open at least a year, climbed 10.2 percent.
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Speedway breaks ground on redevelopment project

November 19, 2009
Scott Olson

Speedway officials broke ground Thursday morning on the first phase of a $500 million redevelopment project they hope will transform the small town into a year-round racing-themed destination.

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Premier Properties founder gets home detention for fraud

November 18, 2009
Cory Schouten
A judge on Wednesday afternoon sentenced Christopher P. White to one year on home detention and three years of probation in connection with a $500,000 bad check he wrote last year as he tried to save his real estate development firm, Premier Properties USA Inc.
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Simon exploring bid to purchase rival General Growth

November 18, 2009
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than 200 regional malls in 44 states.
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Locals expect few bright spots in 2010

November 17, 2009
Cory Schouten
Senior real estate executives remain pessimistic about the prospects for the Indiana market in 2010, although they see signs of improvement in the investment and residential sectors. That’s according to a survey of leaders of the local real estate community that the Urban Land Institute plans to unveil Thursday.
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Failed jewelry retailer to sell millions in inventory

November 16, 2009
Greg Andrews
An old-line Indianapolis jewelry business has shut down, setting the stage for the sale of millions of dollars in remaining inventory through auctions planned in Indianapolis, Chicago, Miami and Naples, Fla.
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City Market gets OK to evict anchor Constantino's

November 14, 2009
Peter Schnitzler
The cash-strapped, half-vacant City Market is playing legal hardball with five current or former tenants that are behind on rent, a move that’s led to the imminent eviction of Constantino’s Market Place.
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Retailers surprisingly upbeat as they head into holidaysRestricted Content

November 14, 2009
Greg Andrews
Those in the trenches say this won't be a blockbuster Christmas, but it won’t be horrid, either.
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Teachers' pension fund poised to buy downtown building from DukeRestricted Content

November 14, 2009
Cory Schouten
The Indiana State Teachers’ Retirement Fund is negotiating to buy a 12-story office building across from the Statehouse in what could be the year’s largest downtown office transaction.
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Construction under way on downtown condo conversion

November 14, 2009
 IBJ Staff
The Shelton, a five-story building on Delaware Street, is getting a $3 million makeover.
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National, state foreclosure filings fall

November 12, 2009
 IBJ Staff and Associated Press
Indiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5 percent from October 2008.
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Duke Realty land auction nets $1M; pricier properties go unsold

November 11, 2009
Cory Schouten
Locally based Duke Realty Corp. netted more than $1 million during a Tuesday auction of surplus development parcels in Indianapolis, Fishers, Plainfield and Lebanon.
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Local man gets 37 months in mortgage-fraud scheme

November 10, 2009
Cory Schouten
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
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Tax credit helps boost area home sales 20 percent

November 10, 2009
Scott Olson
A federal tax credit that benefits first-time homebuyers is helping to bring home sales in the nine-county Indianapolis area out of their funk.
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Van Rooy scoops up troubled complex

November 10, 2009
Tom Harton
Van Rooy Properties plans to spend $5.5 million renovating a 277-unit west side apartment complex that it acquired a month ago in an unusual deal.
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Noble Roman's reports profit despite lower revenue

November 10, 2009
Andrea Muirragui Davis
Indianapolis-based Noble Roman's Inc. said late Monday that it posted a third-quarter profit of $459,535, or 2 cents per share—a 44-percent improvement over the same period last year. But revenue for the quarter fell to $1.9 million, from $2.2 million in 2008.
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Duke Realty's chief operating officer resigns

November 9, 2009
 IBJ Staff and Associated Press
Indianapolis-based Duke Realty Corp. announced Monday that its chief operating officer will leave the company at the end of the year.
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Allen Plaza developer bullish on downtown, eager for next project

November 7, 2009
Cory Schouten
J. Greg Allen sees the $14 million Allen Plaza renovation as a message to city leaders that he intends to leave a lasting mark on downtown.
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Failed Charlotte skyscraper brings Indianapolis developer back to earth

November 7, 2009
Greg Andrews
The Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas, with more floors than any building in the region except the Charlotte headquarters of Bank of America Corp.
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WOODS: Too many contractors misleading prospectsRestricted Content

November 7, 2009
Jeremy Woods
Some contractors, many of whom are desperate to replenish backlogs decimated by the recession, are not telling prospective clients the whole story about exit strategies.
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