Real Estate & Retail

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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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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  4. The question is, where could they build a new stadium? It seems in the past year, all the prime spots have been spoken for with potential projects. Maybe in the industrial wasteland area a block past Lucas Oil? I think it needs to be close to the core, if a new stadium is built.

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