Real Estate & Retail

Old St. Francis Hospital may become mix of retail, senior apartments, officesRestricted Content

November 10, 2008
The city of Beech Grove is working on a redevelopment proposal for its St. Francis Hospital campus. Tentative plans call for a mix of office space, apartments for seniors, and retail space.
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Architects and business leaders must work together to prudently maintain, build quality buildingsRestricted Content

November 10, 2008
Don Altemeyer
Especially during a recession, architects need to build strategies to reach new and existing clients and provide them cost-effective design and construction options.
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DBSI, an Idaho company with Indiana properties, faces class-action suitRestricted Content

November 10, 2008
Cory Schouten

DBSI, an Idaho real estate firm with 250 properties worth $2 billion faces a class-action suit. Some of its properties and investors are in Indianapolis.

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DePauw, Ball State, Purdue buildings among top AIA design winnersRestricted Content

November 10, 2008
Scott Olson
Three university projects, two of which contain green-building elements, dominated the most recent design awards presented by the American Institute of Architects Indiana chapter. Of the four award winners, three involved college buildings: the Janet Prindle Institute for Ethics at DePauw University, the Neil Armstrong Hall of Engineering at Purdue University, and the Straw Bale Eco Center at Ball State University.
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IndyFringe leads effort to build artists' apartmentsRestricted Content

November 10, 2008
Kathleen McLaughlin
Indy Fringe executive director Pauline Moffat and Gary Reiter, a board member of the Indianapolis Theatre Fringe Festival Inc., want to build an affordable live-work complex near Massachusetts Avenue.
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ConsensusDOCs an option for construction contractsRestricted Content

November 10, 2008
Sean Devenney
The most heavily utilized family of standard form contracts is published by the American Institute of Architects. However, contractors routinely criticize the AIA forms because of a perceived bias in favor of the architect.
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Whistle Stop needs tenantRestricted Content

November 3, 2008
The city is looking for a new tenant for the former Broad Ripple Monon rail station at 901 E. 64th St.
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Duke founder Wynne loses out using company stock as collateralRestricted Content

November 3, 2008
Greg Andrews
Retired businessman John Wynne, one of the founders of Duke Realty Corp., is the latest executive to get burned after using company stock as collateral for a multimillion-dollar loan in his investment account.
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M&I Plaza seeks rebound under different ownership: Struggling downtown tower is about 70-percent vacantRestricted Content

October 27, 2008
Scott Olson
Struggling M&I Plaza once again can become a prominent office tower, real estate experts contend, but only if the next owner atones for its predecessor's mistakes. Local real estate developer Paul Kite Co. had emerged as a top contender to buy the struggling downtown property from Maryland-based CapitalSource Inc., which assumed ownership of the 28-story building in June after foreclosing on a $5 million mezzanine loan. Paul Kite didn't respond to an e-mail request for comment. But sources say Kite's...
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VOICES FROM THE INDUSTRY: Delays to development projects cost everybody moneyRestricted Content

October 27, 2008
Brian Mann
Here's a common scenario: A developer gets approval on zoning and planning permits to build a business on a piece of property. The business has signed an agreement to either lease or buy the building once it's completed. The owner of the business then begins making plans to open the new facility. The developer, meanwhile, goes to work to prepare the property for construction, which includes everything from figuring out the utilities, access road, curbs, sidewalks and landscaping. Working with...
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VOICES FROM THE INDUSTRY: Benefits to buying or leasing in a troubled economyRestricted Content

October 27, 2008
Keith R.
As real estate professionals well know, a troubled economy is making it harder to negotiate and close deals. However, buying or leasing real estate in a troubled economy also provides great opportunities for buyers and tenants. Real estate brokers often talk about it being a buyer's and renter's market and focus on selection and price; however, there are several other benefits when buying or leasing commercial real estate in a troubled economy. These additional benefits include tax abatements or credits...
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Kite Realty goes on defensive: Local developer says stock sale should help it through tough timesRestricted Content

October 27, 2008
Cory Schouten
Expecting a rocky 2009, locally based Kite Realty Group Trust sold nearly 5 million new shares in October to quickly raise almost $48 million in cash. The retail real estate investment trust saw its stock price tumble after the $10.55-per-share offering, from a close of $11.19 the day (Oct. 2) it announced the sale to $7.44 by Oct. 10. The deal dilutes existing shareholders, but company officials say it puts Kite in a stronger cash position to pay down debt...
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VOICES FROM THE INDUSTRY: Property tax reform will change development landscapeRestricted Content

October 27, 2008
Matt Price
As the country faces the "subprime crisis" and its effect on the availability of financing, we know local real estate markets have seen brighter days. Fortunately, we also know this crisis will pass. If you are a real estate developer or land-use professional, there will be many opportunities ahead. However, it is important to consider that the regulatory landscape in Indiana relative to land-use development will not be the same as the one you knew prior to the current market....
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Surviving the season: Retail landlords worry that tight holiday budgets could doom some retailersRestricted Content

October 27, 2008
Cory Schouten
Retailers usually get that Christmas-morning feeling of anticipation for the holiday shopping season. This year, many are just hoping to survive. As consumers tighten their spending to cope with higher prices and shrinking savings, stores big and small are feeling the pinch. Some stores, including Linens 'n Things, have filed for bankruptcy and plan to liquidate. Others, like Circuit City, still are fighting for survival. The holiday shopping season is looking more like a make-or-break period than the annual windfall-an...
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Ousted mayor guides local up-and-comers: Peterson named moderator for prestigious groupRestricted Content

October 27, 2008
Kathleen McLaughlin
Voters decided last Election Day that they'd had enough of Bart Peterson, but the former mayor is in demand with academics, a think tank, and now the city's premier leadership network. Peterson is moderator of the Stanley K. Lacy Executive Leadership Series, which introduces "emerging leaders" to Indianapolis and its problems. "It's something I never went through as a class member. I've always envied those who did," Peterson said of the series, which accepts just 25 applicants each year. "It's...
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For funding, developers may need to think outside box: Amid tight credit markets, getting a project built often takes alternative financing sources, creative approachesRestricted Content

October 27, 2008
Scott Olson
Although the spigot of bank financing has slowed to a trickle, money to fund commercial development projects remains available from alternative sources. Just ask David Amick, executive director of Premier Capital Corp., a local lender that uses federal funds to help finance expansions. "We've got money to lend," he said. "I've got that [message] hung on the door." The fragile credit markets have nearly diminished the ability of companies to borrow. But lenders such as Amick insist the money is...
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Steak n Shake CEO ordering up cost cuts, but shares still sagRestricted Content

October 27, 2008
Cory Schouten

The Steak n Shake Co. has dropped plans to build 20 new restaurants, is cutting overhead expenses by about $20 million, and closed 14 locations. The Indianapolis-based restaurant chain found $16 million in tax savings dating back to 2006 and is working on a new, simple menu built around burgers, fries and milkshakes--all part of a turnaround plan orchestrated by the chain's new CEO, Sardar Biglari.


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Lenders foreclose on at least 20 properties in mortgage schemeRestricted Content

October 20, 2008
Cory Schouten

Charter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.


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Former rocker rolling along in pizza business: Puccini's founder has 13 locations and countingRestricted Content

October 20, 2008
Sam Stall
For much of his adult life, Don Main was a rocker rather than a restaurateur. But fate-along with a pressing need to find a more profitable line of work-drove him to seek his fortune in a kitchen rather than onstage. Main, president and co-owner of Puccini's Smiling Teeth, began his peculiar career change back in 1990, after a decadeand-a-half stint as a professional-but not very well-paid-musician. At age 36, the bassist and lead vocalist for the band The Late Show...
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BEHIND THE NEWS: Opportunities start to arise for steely nerved investorsRestricted Content

October 13, 2008
Greg Andrews
"Be fearful when others are greedy and greedy only when others are fearful." This philosophy, which Warren Buffett espoused to a group of Columbia University students when he was just 21, has served the billionaire investor well. And it may serve you well as you navigate the ugliest stock market in three decades. To be sure, the thrashing that stocks in Indiana and across the globe have weathered in recent weeks has been nearly across the board-savaging the shares of...
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Real estate agents struggling from trickling home salesRestricted Content

October 13, 2008
Sam Stall

The downturn in the housing market isn't tough just on people trying to sell their homes. It's also tough on the people who want to help those people sell their homes--real estate agents. Locally, their ranks have thinned as more and more leave the field to search for better prospects.


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Advisers get more bullish on ETF option: SEC decision may lead to widespread appeal of mutual-fund alternativeRestricted Content

September 29, 2008
Scott Olson
ETFs have been available in the United States since 1993 and are an alternative to mutual funds that trade just like stocks. But a decision earlier this year from the U.S. Securities and Exchange Commission could broaden their appeal even more. An ETF is a "basket" of stocks that by itself trades on an exchange just like an individual stock. ETFs contain the assets of large or small companies, real estate investment trusts, international stocks, bonds and even gold. For...
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Simon Property Group exploring overseas marketsRestricted Content

September 29, 2008
Cory Schouten

Simon Property Group Inc. has been readying its balance sheet and sizing up buyout targets in hopes of capitalizing on a worldwide markdown on shopping-center owners.


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EYE ON THE PIE: Economic turmoil hinges on ignoranceRestricted Content

September 29, 2008
Morton Marcus
What we don't know does hurt us. Many builders constructed houses assuming there was a continuing strong market of qualified home buyers. Some mortgage brokers and some bankers gleefully ignored or misrepresented the abilities of home buyers to sustain homeownership. Too many home buyers did not bother to learn what their obligations as homeowners would be. They didn't know about paying property taxes or how adjustable mortgage rates could escalate beyond their capabilities to meet their monthly payments. The companies...
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VOICES FROM THE INDUSTRY: This Thanksgiving, start making plans for the futureRestricted Content

September 29, 2008
Steven P.
Many of us will visit parents over Thanksgiving and the holiday might be just the time to have a hard-to-hold conversation about financial preparedness. While it can be a difficult conversation to have, its important for adult children to check in with aging parents to make sure they have a plan for retirement and estate needs. It is estimated that about 50 percent of American adults do not have a will, which can result in losing control of your financial...
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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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