Real Estate & Retail

Airport plans holiday events to lure traffic to Civic Plaza

November 27, 2009
Associated Press
Entertainment planned for December could put airport visitors in a spending mood. Retail sales at the terminal have suffered this year due in part to a 10 percent drop in passenger traffic, prompting the Airport Authority to search for ways to boost revenue.
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Employers brace for Cyber Monday

November 25, 2009
Scott Olson
More than 53 percent of workers with Internet access, or 68.8 million, are expected to shop online Monday, according to the Washington, D.C.-based National Retail Federation.
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Neighborhood revitalization group calling it quits

November 24, 2009
 IBJ Staff
BOS Community Development Corp., created in 1982 to revitalize the Indiana Avenue and Midtown area, says its mission is accomplished.
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Patachou owner's pizzeria receives variance approval

November 24, 2009
Scott Olson
Cafe Patachou owner Martha Hoover can now move forward with plans to open a pizzeria next to her trademark eatery at 49th and Pennsylvania streets.
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Troubled homebuilder's funds frozen after failing to pay judgment

November 24, 2009
Scott Olson
A Marion County judge has frozen certain Hansen & Horn Group Inc. funds after the Indianapolis homebuilder failed to pay a $183,000 legal judgment. The move sheds light on the severity of the company’s woes.
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Research lab could replace ATA headquarters

November 24, 2009
Cory Schouten
Paul Kite Co. has applied for a rezoning of the 16.5-acre site to allow for non-airport uses.
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Biglari was persistent in pressing Western Sizzlin deal

November 23, 2009
Greg Andrews
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure of the $39 million transaction.
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Remnants of failed Premier Properties finally hit market

November 21, 2009
Cory Schouten
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The Venu site at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
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Falling property prices fuel new wave of bank woes

November 21, 2009
Peter Schnitzler
The second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial real estate loans.
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Homeownership losing cachet due to housing bust, job losses

November 21, 2009
Cory Schouten
Multifamily housing may not benefit anytime soon from falling rates of homeownership.
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Fledgling technology park is development bright spotRestricted Content

November 21, 2009
Kim Puckett
WestGate@Crane Technology Park is adding office buildings for defense contractors next to the secretive Naval Surface Warfare Center at Crane.
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Denison light-replacement project shows expanding base of green vendors in regionRestricted Content

November 21, 2009
Chris O'Malley
Indianapolis parking garage operator Denison shuns sexy LED lighting for Fishers supplier’s induction lights.
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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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