Real Estate & Retail

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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Web rates get banks' attention: Some try to compete by boosting savings yieldsRestricted Content

May 14, 2007
Scott Olson
In an effort to lure new customers, more traditional banks are beginning to emulate their Internet adversaries and offer online savings accounts boasting much higher annual yields. Customers are increasingly turning to Internet banks because they offer highyield savings accounts that don't require massive balances. First Internet Bank of Indiana, founded in 1998 by local tech entrepreneur David Becker as the first state-chartered Internetonly bank, has seen its assets grow to more than $530 million in less than a decade...
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RETURN ON TECHNOLOGY: IT departments are often overworked and underfundedRestricted Content

May 14, 2007
Tim Altom
Why do trucking companies overload their trucks, when they know they'll damage the very highways they need for their livelihoods? Why do people keep defiantly watering their lawns in d r o u g h t - s t r i c ke n areas? Why do we buy cheap goods from discount retailers when we know they were made in sweatshops? And why do employees download streaming audio and video, when they're repeatedly warned that these things turn high-speed...
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East end of Mass Ave poised for rebirthRestricted Content

May 7, 2007
Cory Schouten
Bustling foot traffic at lunchtime and at night helps sustain many of the restaurants, shops and galleries in the vibrant Mass Ave downtown neighborhood. But few of the Massachusetts Avenue shoppers and diners on foot venture east of the psychological barrier that is College Avenue.
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Not-for-profit thrift stores shake low-end imageRestricted Content

May 7, 2007
Lisa Gerstner
Thrifty Threads store manager Tim Waldrip can hardly keep up when he puts stylish used clothes on the thrift store's mannequins. Customers snag them so quickly he has to change the outfits three to four times a day. Regardless of what its mannequins are wearing, the not-forprofit shop on West 86th Street is flourishing. Sales in 2006 reached $336,000-a 24-percent increase from the previous year. Now the Julian Center, the Indianapolis shelter for abused women that runs Thrifty Threads, is...
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St. Vincent taking over Thomson HQRestricted Content

April 30, 2007
J.K. Wall
A shrunken Thomson, the former manufacturer of RCA televisions, is vacating a landmark office building at its Carmel headquarters to make way for St. Vincent Health, the parent company of a growing chain of Indiana hospitals.
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Winning bidder plans mixed-use project: Plan for state-owned parcel would add new neighbors for Bourbon Street Distillery, Musicians' Repair & SalesRestricted Content

April 30, 2007
Cory Schouten
The winning bidder for a prime piece of state-owned land on the west side of downtown hopes to break ground later this year on a residential and retail complex. The project would replace a shabby parking lot on a triangle-shaped block that is now anchored by The Bourbon Street Distillery and Musicians' Repair & Sales. The U-shaped, 0.75-acre property at 340 N. Capitol Ave. touches Indiana Avenue, Capitol Avenue and Vermont Street. The development likely would include condos above a...
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Pension changes fill state's VC coffer: Indiana Investment Fund has $155 million to pour into Hoosier companiesRestricted Content

April 30, 2007
Peter Schnitzler
The diversification of the state's two enormous public pension funds into private equity is transforming Indiana's venture capital sector. And their $155 million Indiana Investment Fund is the largest factor in the equation. If it's successful, the Indiana Public Employees' Retirement Fund and the Indiana State Teachers' Retirement Fund will save Hoosiers untold millions of dollars and help launch a host of new high-tech companies. If it's not, taxpayers will one day have to foot the bill. Indiana State Budget...
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STATEHOUSE DISPATCH: Events outside the Capitol shape final days of sessionRestricted Content

April 30, 2007
Ed Feigenbaum
As I write this, we have no way of knowing what the 2007 session of the Indiana General Assembly will mean for gambling, property tax relief or the biennial budget-the three overarching items looming over the heads of lawmakers as they entered their final week of deliberations. But that won't prevent us from making a few pertinent observations about the context, and how that atmosphere was shaping events. Each legislative session possesses a flow of its own, based on incidents,...
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Entrepreneurs eager to pamper your petsRestricted Content

April 30, 2007
Jennifer Whitson
Americans are spending more than ever on their four-legged friends, and savvy central Indiana entrepreneurs are among those cashing in.
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EYE ON THE PIE: For sale: an American house of cardsRestricted Content

April 23, 2007
Morton Marcus
A chicken in every pot and a car in every garage. Herbert Hoover never said those words, but they were part of his presidential campaign literature in 1928. Should they be the goals of American politics? Should we subsidize the price of chicken to keep poultry and grain farmers happy while consumers pay less at the grocery? How about lowering the cost of owning an automobile by allowing automobile interest payments to be refunded as tax credits? Along with these...
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Farmland values soaring, but still lag other sectors: Cornfields far more valuable when sold for other usesRestricted Content

April 23, 2007
Scott Olson
Escalating demand for corn driven by the ethanol boom is propelling farmland prices higher, but not nearly enough to deter commercial developers from nabbing prime pieces of property. An average acre of Indiana farmland rose last year in value almost 16 percent, representing the largest annual jump in at least two decades, according to the U.S. Department of Agriculture. Prices this year are projected to increase by an even larger percentage. Land values are escalating because corn is expected to...
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MICKEY MAURER Commentary: An Indianapolis gem shines againRestricted Content

April 23, 2007
It's no secret that my mentor is Gene B. Glick. I was privileged to work for Gene early in my career and learn the right way to be a success in business. For example, the ability to remain calm while reacting to the many calamities and adversities of a typical business life is one of the attributes of the Glick style that I admire most. I could have used more time at the feet of this master, but, luckily, school...
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Downtown hot for apartments: Developers of new multifamily projects encouraged by high occupancy rates, rising rents, waiting listsRestricted Content

April 23, 2007
Cory Schouten
Justin Williams and Meredith Barrett grew up on the south side, but that's not where they'll live after getting married in September. They're looking for an apartment downtown. It's the only neighborhood they're considering. "I love being right in the middle of everything," said Williams, 25, a server at P.F. Chang's China Bistro in Circle Centre. Barrett, a 22-year-old nurse at Wishard Hospital, said she "just likes to be able to walk everywhere." The couple is part of a growing...
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MSA Round 2 plans pitched by local development teamsRestricted Content

April 23, 2007
Cory Schouten
Two new proposals for the parking lot formerly known as Market Square Arena are shorter and less dramatic than plans for a 31-story tower that fell through last year. But each of the new sets of plans has its flourishes.
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Broadbent's new era: Veteran real estate firm known for strip centers prepares for new headquarters, new leadershipRestricted Content

April 23, 2007
Scott Olson
The distinctive black-and-white façade of the Zipper Building at Washington Street and Virginia Avenue is gone, stripped away like ceiling tiles from an old bedroom. Replacing the unusual exterior of the three-story structure will be a more traditional brick and stone look-and a new moniker bearing the name of owner The Broadbent Co. Broadbent, the longtime developer of retail strip centers including Castleton Plaza, Clearwater Crossing and Fashion Mall Commons bought the downtown building last October and is set to...
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City buildings save money while gaining 'Star' status: EPA program gives tax breaks for energy efficiencyRestricted Content

April 23, 2007
Scott Olson
Thomson Inc. building, 10330 N. Meridian St. In 2006 alone, the EPA awarded more than 3,400 buildings nationwide with the Energy Star designation. Buildings can achieve the status by adopting an energy-management strategy and tracking the results during a 12-month period using an EPA rating system. Results need to be verified by a professional engineer. All Energy Star products qualify for a tax credit. A deduction of up to $1.80 a square foot is available to owners and designers of...
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FBI's project bid puzzles local developersRestricted Content

April 23, 2007
Cory Schouten
Some local developers were left scratching their heads last month when the federal government chose an out-of-state company to develop an FBI field office in Castleton. The U.S. General Services Administration awarded the $38 million project to Lake Winnebago Mo.-based BC Development Co.
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Canal could be home to new hotels or condos: Requirement for retail could jump-start slow effortRestricted Content

April 16, 2007
Jennifer Whitson
State and city officials have begun evaluating four groups that want to develop an acre of prime real estate along the Central Canal downtown. The property, which covers about a third of the block stretching from Ohio Street to New York Street, will feature canal-level retail-a requirement of all potential developments there. It also could be home to a hotel or condominium complex, based on plans from two local developers. Two other groups also are in the running for the...
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Carmel to get $30M Renaissance hotelRestricted Content

April 16, 2007
Cory Schouten
A prestigious, full-service hotel soon will complement Carmel's booming office market along North Meridian Street. A Cincinnati developer broke ground this month on a roughly $30 million Renaissance hotel with 263 rooms and 14,000 square feet of meeting space.
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  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

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