Real Estate & Retail

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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Kite Realty misses out on REIT revivalRestricted Content

July 13, 2009
Cory Schouten
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut dividends, and set the development engine to idle. But as the shares of most publicly traded real estate investment trusts have bounced back from the lows in March, Kite’s shares have lagged.
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Conrad Indianapolis adding wine bar, sidewalk diningRestricted Content

July 13, 2009
Cory Schouten
Plans are in the works for a wine bar called Tastings that would take the first-floor corner space at the Conrad Indianapolis. The $1 million project would add an entrance to the luxury hotel at the northeast corner of Washington and Illinois streets and include a total of 80 outdoor seats along both streets, in the shadow of the Artsgarden.
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Greater Indianapolis YMCA has $30M in projects plannedRestricted Content

July 13, 2009
Kathleen McLaughlin
It takes a map of the entire metro area to show all the projects the YMCA of Greater Indianapolis has on its drawing board. The $30 million plan calls for building two brand-new facilities, one in Avon and one in Pike Township; expanding the Fishers YMCA; and building a new outdoor pool in Lawrence.
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New restaurants planning to open this monthRestricted Content

July 13, 2009
 IBJ Staff
New restaurants include Iozzo’s Garden of Italy, slated to open July 17 at 946 S. Meridian St., in the former home of Leland’s and Cafe@Ray. The owner’s grandfather in the 1940s owned an 800-seat restaurant of the same name where the Hyatt Regency now stands.
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Metro-area home sales dip in June

July 9, 2009
 IBJ Staff
Home-sale agreements in the nine-county Indianapolis area dipped 1.4 percent in June compared to the same month a year ago, according to a report released today by F.C. Tucker Co.
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Steak n Shake sales, traffic rise

July 8, 2009
 IBJ Staff
Steak n Shake Co. yesterday reported big increases in customer traffic and same-store sales for its fiscal third quarter, which ended July 1. Customer traffic rose 13.4 percent and same-store sales jumped 5 percent in the quarter compared to the same period a year ago, it said in a brief Securities and Exchange filing.
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HHGregg accelerates store-opening plans

July 8, 2009
Scott Olson
HHGregg Inc. said this morning that the bankruptcy of competitor Circuit City should enable the company to open more stores within the next few years than previously expected.
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Keystone Construction plans Madison Avenue retail center

July 7, 2009
Cory Schouten
A local developer is planning a retail strip center along Madison Avenue just south of downtown in a neighborhood that's been begging for investment for years. The plans by Keystone Construction Corp. call for a 25,000-square-foot retail center at 1400 Madison Ave., across from Sisters' Place Restaurant.
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