Real Estate & Retail

Huntington consolidates downtown office space: Bank leaving Capital Center after merger with SkyRestricted Content

July 16, 2007
Cory Schouten
Huntington Bancshares is giving up its local headquarters in Capital Center downtown now that it has completed its $3.6 billion purchase of Sky Financial Group. The 100 employees based at Capital Center, 201 N. Illinois St., will move to a Sky-owned office building at 45 N. Pennsylvania St. Sky bought the building last year as part of its $321 million purchase of locally based Union Federal Savings Bank. Bowling Green, Ohio-based Sky announced it was being purchased by Columbus, Ohio-based...
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BEHIND THE NEWS: Why diner chain whets the appetite of the buyout crowdRestricted Content

July 16, 2007
Greg Andrews
The Steak n Shake Co. may not be delighting diners these days, if slumping sales are any indication. But you can bet the privateequity crowd is salivating. Investment pros say the Dallas-based investment group that recently amassed a big stake in Steak n Shake surely isn't alone in hungering to take the Indianapolis-based diner chain private. "Some ... funds make their money by identifying underperforming companies that have intrinsic value which can be unlocked," Motley Fool columnist Timothy Otte wrote...
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SPORTS: Tennis tourney healthy but needs a new homeRestricted Content

July 16, 2007
Bill Benner
A significant Indianapolis sporting event with international appeal is preparing to celebrate its 100th anniversary in 2011. The Indianapolis 500? Well, yes, that too. Far less-wellknown and recognized is that the origins of elite-level competitive tennis in Indianapolis also date back to just after the turn of the century ... the last century, that is. Records show that the Western Tennis Championships, which led to the U.S. Clay Court Championships, which led to the U.S. Hardcourt Tennis Championships, which led...
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SPORTS: Pan Am Games was 'coming out' party for cityRestricted Content

July 9, 2007
Bill Benner
Twenty years ago, Indianapolis was preparing to take on the world. Or at least half of it. It was a month before the 10th Pan American Games. In my lifetime, I do not recall many times-if any-when there was such a feeling of collective effort. This wasn't a city rooting for a team, like the Pacers or the Colts. This was a city rooting for itself to pull off this mammoth undertaking, to show not just the country, but the...
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Circle Centre doing well except for 4th levelRestricted Content

July 9, 2007
Cory Schouten
Excluding the fourth floor, Circle Centre mall's 11th full year of operation was a big success. Profit in 2006 increased nearly 18 percent to $9.3 million, according to an annual report filed with the city. But on the top floor, abandoned bar stools have now collected four years of dust in the former home of a nightclub complex.
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Condo owners in quandary over developer's offerRestricted Content

July 9, 2007
Cory Schouten
The questions these days among residents of Lakes at the Crossing, a quiet community of 77 condos tucked behind a strip center and an office park along 86th Street at Keystone Avenue, are: Who will sell, and for how much?
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Downtown hotel towers in worksRestricted Content

July 2, 2007
Jennifer Whitson
South-side developer J. Greg Allen is pitching a massive project along Pennsylvania Street downtown that includes hotel towers--one 28 stories, the other 17--to be built on property now used mainly for surface parking.
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Law firms team up to encourage minority participation: Bingham McHale forms alliance with Coleman Graham & StevensonRestricted Content

July 2, 2007
Scott Olson
A surge in the number of corporations seeking minority participation on contracts has prompted an alliance between two local law firms looking to capitalize on the trend. The June affiliation between Bingham McHale LLP, the city's fifth-largest practice, and Coleman Graham & Stevenson LLC, a minority-owned upstart, resulted from mutual friendships within the two firms, said Toby McClamroch, Bingham McHale's managing partner. "The marketplace is becoming more complex, and the business community is demanding and expecting a multicultural and diverse...
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BULLS & BEARS: Answers to tax questions are sometimes surprisingRestricted Content

July 2, 2007
Ken Skarbeck
Taxes are always a consideration in investment decisionmaking. Investors need to be vigilant to changes in the tax code, because from year to year there may be changes that can affect the choices they make. And while there are some broad tax generalities, an individual's tax profile is specific to that person. Navigating the tax code can be daunting. Yet with some tedious reading and a strong dose of common sense, investors can arrive at rational decisions. I have found...
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Marsh spending remodeling, renaming 105 storesRestricted Content

July 2, 2007
Cory Schouten
the mood seems upbeat again at Marsh Supermarkets Inc., thanks to a chain-wide effort to upgrade stores and win back loyalty from customers and employees. CEO Frank Lazaran said the chain has launched a campaign to remodel 70 percent of its grocery stores within a year and rebrand every one of them.
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EYE ON THE PIE: Here's government behavior at its bestRestricted Content

June 25, 2007
Morton Marcus
At last, the professional basketball season is over. At last, the saga of the Sopranos is ended. The Cubs, the Cards, the White Sox and the Reds are in their usual states of disgrace. Our governor has announced his candidacy for reelection. There seem to be no surprises in our world. How normal are things? Consider this: Indiana and Illinois have agreed on reciprocal discounts for motorists on their toll roads. If you live in DeKalb County, Indiana, and visit...
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'Find your niche ':Restricted Content

June 25, 2007
-Andrea Muirragui
His goal was to provide the proverbial one-stop shop, a place where "honey do" lists got done. Before long, he realized he may not have been aiming high enough. It seemed homeowners with not-so-handy honeys weren't the only customers interested in what Schneller was selling. He also got calls from real estate agents who needed some last-minute home repairs completed before a sale could close. "They came to us with a laundry list of items," Schneller said, ticking off an...
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Bigger not best for all: drophead Many attorneys find greener pastures in smaller practices after leaving major firmsRestricted Content

June 25, 2007
Scott Olson
not Bigger leaving best for red all tape drophead Many attorneys find greener pastures in smaller practices after leaving major firms When lawyers Debra Miller and James Fisher fled legal powerhouse Ice Miller LLP and the prestigious partner status they had earned, their stable of coworkers swiftly sank from nearly 250 to none. Yet 15 months later, after the pair left the largest law firm in the city, they say they're quite content practicing together at Miller & Fisher LLC,...
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Chrysler plant redevelopment might be slowed by lienRestricted Content

June 25, 2007
Chris O'Malley
An Indianapolis firm that helped haul away the demolished DaimlerChrysler Corp. foundry last year has placed a mechanic's lien on the automaker's property, potentially complicating the sale of the 34 acres already challenged by environmental issues.
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Finish Line's buy praised, pannedRestricted Content

June 25, 2007
Cory Schouten
Athletic retailer The Finish Line Inc. had cultivated a reputation for conservative play calling, keeping clean books with minimal debt. Then on June 18, the Indianapolis-based retailer called a surprise audible. The $1.3 billion company agreed to acquire Nashville, Tenn.-based Genesco Inc. for $1.5 billion.
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Symbol of YWCA's past may soon get new owner: Women's organization carries on without building; new mission focused on scholarships, mentoringRestricted Content

June 18, 2007
Chris O\'malley
The former home of the YWCA is about to change hands, but even without its own building, the organization once known for housing women plans to grow its scholarship programs and support other not-for-profits that advocate for women's issues. The 4460 Guion Road facility is under contract to be sold "and we expect to close on it shortly," said Greg Lynn, vice president of real estate for the Central Indiana Community Foundation. Lynn said he could not elaborate on the...
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Glut of million-dollar houses driving prices downRestricted Content

June 11, 2007
Michael Dabney
Buyers in the market for million-dollar homes can afford to be choosy these days, as the softness in the overall market extends to the high end, real estate agents say. Through the first quarter of this year, home sales in the 13-county Indianapolis area fell nearly 12 percent, according to the Metropolitan Indianapolis Board of Realtors.
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Ex-Marsh exec says ousted president asked him to inflate profitRestricted Content

June 11, 2007
Greg Andrews
By now, David Marsh might be regretting he ever decided to take on former employer Marsh Supermarkets Inc. in court. Since he filed his lawsuit last fall charging the company his grandfather founded had shortchanged him on severance, the company has stormed back with a blizzard of allegations.
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Local malls line up new restaurants, retailers: Cheesecake Factory to open in Greenwood; hot clothing store H&M heading to CastletonRestricted Content

May 28, 2007
Cory Schouten
LAS VEGAS-Redevelopment plans at Greenwood Park and Castleton Square malls call for popular new restaurants and a sought-after Swedish clothing retailer. The additions-which would add the area's second locations for The Cheesecake Factory and fashion retailer H&M, along with new-to-the-market restaurants Stir Crazy and BJ's Restaurant & Brewery-are named in materials Simon Property Group Inc. shared with retailers at the International Council of Shopping Centers annual convention in Las Vegas. The highest-profile new tenant at Greenwood Park Mall would be...
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New Glick exec puts expansion on agendaRestricted Content

May 28, 2007
Tracy Donhardt
It can be intimidating to be tapped by a legend and charged with growing one of central Indiana's best-known companies. But David Barrett, three weeks into his role as executive vice president of Gene B. Glick Co. and less than half the age of its still-working founder, says he isn't the least bit nervous.
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Woodfield Crossing plan calls for hotel, offices, condos, theaterRestricted Content

May 28, 2007
Cory Schouten
A local firm plans to redevelop a quiet corner near the Fashion Mall into a mixed-use behemoth with a full-service hotel, 5,000-seat theater, hundreds of condos, and more than a million square feet of office and retail space.
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VIEWPOINT: Seeing Indianapolis with new eyesRestricted Content

May 21, 2007
Carol Whalin
I left Indianapolis for New York City. Flying home for holidays, I never thought I could live here again. A nice place to grow up, Indianapolis gave me those wholesome Midwestern manners, recalled whenever a New Yorker asked, "You're not from here, are you? You're just too nice." Indianapolis also gave me a successful career start, circa 1982. My partners and I later sold an OfficePlus location to a group in Manhattan in 1997. They invited me to move and...
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Contamination reconsidered: Developers show more acceptance toward environmental trouble spots When property is scarce, mitigation becomes viableRestricted Content

May 21, 2007
Chris O\'malley
When property is scarce, mitigation becomes viable The plan to close Citizens Gas & Coke Utility's coke manufacturing plant this year has already brought a few inquires about its reuse potential. But perhaps the biggest impact of the foundry fuel-maker's demise will be stoking discussions over whether other environmentally scarred properties are ripe for redevelopment. Until recent years, many developers regarded any property with even a tinge of environmental contamination as if a parcel in Chernobyl. The coke plant "illustrates...
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TeePee could rise again: Local man hopes to revive restaurant that was city fixture from 1930s to '70sRestricted Content

May 21, 2007
Cory Schouten
Dick Turner is looking for an entrepreneur who shares his taste for nostalgia and Big Chief cheeseburgers. For 20 years, he has dreamed of opening an updated version of the classic TeePee restaurants that served as hangouts for generations from the 1930s to 1970s. At its peak, the chain had three Indianapolis locations, each with dining rooms and curb service, on Madison Avenue and Fall Creek Boulevard and in Nora. Turner can show you the frayed legal documents that outline...
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Rescue for MSA site fell shortRestricted Content

May 14, 2007
Cory Schouten
A high-profile local firm that quietly negotiated last fall to salvage the stalled redevelopment of the Market Square Arena site abandoned its plans when the city decided instead to solicit new proposals early this year.
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  1. I keep wondering why I keep hearing about this problem of corporations leaving America, and I never hear a reasonable proposal to lower corporate tax rates and raise personal rates on income from capital gains and dividends, especially for high earners. It is just too simple of a solution for Congress to embrace?

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  3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

  4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

  5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

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