Real Estate & Retail

Builders challenge park fee in ZionsvilleRestricted Content

November 17, 2008
Zionsville Town Council members have until Nov. 17 to decide whether to appeal a judge's decision last month that invalidated the town's park-impact fee.
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Steak n Shake seeks younger customersRestricted Content

November 17, 2008
Cory Schouten
Steak n Shake hopes to create buzz with its new marketing plan targeting youth.
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Holiday promotional campaign helps Indianapolis venues boost their attendanceRestricted Content

November 17, 2008
Scott Olson
The 12 Free Days of Indy Christmas promotion runs through Dec. 24 and gives patrons of several city destinations the opportunity to enjoy them without the cost.
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Dreyer & Reinbold adds Maserati luxury lineRestricted Content

November 17, 2008
Chris O'Malley
In the midst of one of the worst financial markets in decades, Dennis Reinbold has launched Maserati of Indianapolis at his Dreyer & Reinbold BMW Infiniti-Mini complex on the north side.
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Retailers plan new locationsRestricted Content

November 17, 2008
At a time when most retailers are cutting back, a few in the Indianapolis area are growing.
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Airport terminal to rent out space, keep many employees in old facilityRestricted Content

November 10, 2008
Chris O'Malley
The new, $1.1 billion terminal at Indianapolis International Airport likely won't house as many airport employees as the existing facility. Instead, portions of the terminal are being set aside for their revenue-generating potential.
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Indiana CEOs are cautious during financial mayhemRestricted Content

November 10, 2008
Greg Andrews

CEOs with Simon Property, Duke Realty Corp. and Interactive Intelligence Inc. report that their companies are taking an uncharacteristically cautious approach to acquisitions and investments, given the faltering economy.

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Schott design firm builds office clients through real estate connectionsRestricted Content

November 10, 2008
Scott Olson
Jenny Schott Androne, the president and founder of Schott Design Inc., one of the city's largest interior design firms, has amassed a diverse array of clients largely by marketing to building managers and landlords, as well as leasing agents and tenants.
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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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