Real Estate & Retail

Steak n Shake acquiring Western Sizzlin

August 13, 2009
Cory Schouten
The Steak n Shake Co. said it plans to acquire the Western Sizzlin restaurant chain in a deal valued at $23 million.
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Kmart closing Martinsville store

August 12, 2009
 IBJ Staff
Kmart Corp. has notified the Indiana Department of Workforce Development that its Martinsville store will close Nov. 30, costing 48 employees their jobs.
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Area home sales, prices still falling

August 11, 2009
 IBJ Staff
Home-sale agreements in the nine-county Indianapolis area dropped 3.1 percent in July over the same month a year ago, according to a report released yesterday by F.C. Tucker Co.
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Steak n Shake posts profit, rise in customer traffic

August 11, 2009
Scott Olson
Steak n Shake Co. late yesterday reported strong profit and big increases in customer traffic and same-store sales for its fiscal third quarter, which ended July 1.
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Noble Roman's profit up, revenue down

August 11, 2009
 IBJ Staff
Noble Roman’s Inc. late yesterday reported a larger profit in the second quarter, primarily due to its continuing efforts to cut expenses by replacing company-owned restaurants with franchises.
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Large HHGregg investor ups stake, surprising analystsRestricted Content

August 10, 2009
Greg Andrews
HHGregg Inc. shares have enjoyed a spectacular runup this year. But the company’s biggest shareholder is making a huge bet that the good times are only beginning.
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Finish Line execs sell shares en masse in recent months

August 10, 2009
 IBJ Staff
Top executives at The Finish Line Inc. cashed in stock worth more than $10 million in recent months. They sold many of the shares in July as the locally based athletic retailer saw its stock rise to a high for 2009 of about $9.
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Purdue prof: 'Clunkers' could stall retail sales

August 5, 2009
Kim Puckett
The federal "Cash for Clunkers" program has opened a floodgate of car sales that President Obama says is a much-needed boost for the economy. But retailers may feel the negative effects of America's collective investment in new cars, predicts a Purdue Retail Institute researcher.
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UPDATE: Simon rents, occupancy buck shopping decline

August 4, 2009
Cory Schouten
Sales still are suffering at shopping centers owned by Simon Property Group Inc., but the Indianapolis-based mall giant managed in the second quarter to keep occupancy steady and eke out an increase in average rent rates.
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Marsh extends olive branch to angry followers

August 4, 2009
Marsh Supermarkets late yesterday issued a mea culpa after it stopped honoring a $10 coupon just days after introducing the online promotion.
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Simon reports loss amid tough retail conditions

August 4, 2009
Cory Schouten
Indianapolis shopping mall giant Simon Property Group Inc. today said it lost $20.8 million in the second quarter in what it called a "difficult retail environment."
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Marsh promotion cancellation sparks anger

August 3, 2009
Scott Olson
Marsh Supermarkets’ decision to stop honoring a $10 online coupon just days after introducing the promotion has angered hundreds of followers of the grocer’s Facebook page.
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Marsh promotion cancellation sparks anger

August 3, 2009
Scott Olson
Marsh Supermarkets' decision to stop honoring a $10 online coupon just days after introducing the promotion has angered hundreds of followers of the grocer's Facebook page.
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Plans emerge for Winona Hospital redevelopmentRestricted Content

August 3, 2009
Cory Schouten
The Children’s Museum of Indianapolis wants the city to tear down the old Winona Memorial Hospital so it can build a community park and outdoor learning center. A private firm that specializes in environmentally impaired properties wants to turn the building into senior apartments.
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GARNER: Urban redevelopment requires dialogue

August 3, 2009
Sanford Garner
Later this summer, architects, urban planners, economists and hydrologists from around the city and around the nation will come to Indianapolis to begin planning for the redevelopment of the area near 22nd Street and the Monon Trail. Known as the American Institute of Architects Sustainable Design Assessment Team, it will work with neighborhood organizations and city leaders to develop a renewal plan to turn this blighted area into a thriving neighborhood.
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Local contractor lands project for the president

August 3, 2009
 IBJ Staff
Indianapolis-based architectural and engineering firm RW Armstrong will provide design and project management services for the Presidential Helicopter Squadron, a 65,000-square-foot hangar complex being built at a Marine Corps base in Quantico, Va.
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HHGregg growing too fast?

August 3, 2009
 IBJ Staff
The fast-growing locally based electronics retailer HHGregg Inc. has seen its stock price rocket more than 80 percent this year as it moves to take advantage of the bankruptcy liquidation of rival Circuit City.
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Downturn provides opportunity for restaurants hungry for expansionRestricted Content

August 3, 2009
Cory Schouten
The economic slump is giving independent local restaurants a shot at prime locations that in good times would be snapped up by chains.
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Duke Realty suffers second-quarter loss

July 31, 2009
 IBJ Staff
Indianapolis-based Duke Realty Corp. late yesterday posted a 32-percent drop in its second-quarter funds from operations, a key performance measure for real estate investment trusts.
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Indianapolis hotels feel pain of national slumpRestricted Content

July 27, 2009
Anthony Schoettle
Hotel occupancy rates are way down in Indianapolis, as they are elsewhere, but local operators and national analysts think the city is in a good position to bounce back when the economy improves.
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Redevelopment eyed for former jail buildingRestricted Content

July 27, 2009
Cory Schouten
Prospective buyers need a little vision to see the potential in the four-story former jail at the southwest corner of Maryland and Delaware streets.
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Ambrosia to open downtown restaurant in former BadaBoomz siteRestricted Content

July 27, 2009
 IBJ Staff
The owner of the popular Broad Ripple Italian restaurant Ambrosia plans to open a location downtown on the first floor of the Hampton Inn along Maryland Street.
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Lauth's lawyers raking in big fees in bankruptcy reorganizationRestricted Content

July 20, 2009
Cory Schouten
Developer Lauth Group Inc. is sparing no expense on attorneys in the Chapter 11 reorganization of key subsidiaries. The company has hired two of the nation’s most prominent bankruptcy and restructuring specialists to handle the cases, and the bill for the first month easily will exceed $1 million.
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Two Indianapolis restaurants closeRestricted Content

July 20, 2009
 IBJ Staff
Sister eateries Café Nora and Ruth’s Keystone Cafe have closed, owner Jim Nethercott said.
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Smith & Hawken going out of business

July 15, 2009
 IBJ Staff
Upscale garden retailer Smith & Hawken will close all of its stores by the end of the year, including its Indianapolis location on River Crossing Boulevard near the Fashion Mall.
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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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