Retail Development

$100M 'Bridges' project in Carmel wins approval

June 21, 2011
Cory Schouten
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK'd Monday night by the Carmel City Council after numerous concessions.
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Report paints brighter picture for retail

June 14, 2011
Tom Harton
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
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Veritas Realty owner sells stake to partner

May 24, 2011
Cory Schouten
Veteran developer Danny Marr has sold his stake in Indianapolis-based Veritas Realty to a partner and plans to work as a residential real estate agent in Florida.
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Fountain Square project to include concert venue

May 17, 2011
Tom Harton
The new owner of a 110-year-old building in the heart of Fountain Square is planning a renovation and expansion that will turn it into a restaurant, bar and 450-seat music hall called Pioneer.
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Retail, eateries planned for Keystone office areaRestricted Content

May 14, 2011
Cory Schouten
A local developer’s $12 million project is transforming a four-story office building and five acres of surface parking lots adjacent to The Fashion Mall at Keystone into a new retail and restaurant destination.
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Pop-up retailers emerging in Indianapolis

April 16, 2011
Marc D. Allan
With the retail vacancy rate hovering around 13 percent locally and nationally, temporary retailers are becoming a fact of life in malls, strip malls and downtowns around the country.
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Amusement center set for Clearwater area

April 15, 2011
Cory Schouten
An entertainment venue featuring a bowling alley, concert hall and restaurant is set to replace a vacant movie theater.
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Retail REIT profits may slip on store bankruptcies

April 11, 2011
Associated Press
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
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Simon CEO compensation jumps to $24.6 million

April 8, 2011
Bloomberg News
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
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Bank seeks foreclosure on two strip centers

April 8, 2011
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city's northwest side and Lakewood Shops on the northeast side.
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City sells North of South bonds, locks in 5.2-percent rate

April 2, 2011
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
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Whitestown interchange lands $8M travel plaza

March 29, 2011
Cory Schouten
A growing distribution hub anchored by Amazon.com and MedcoHealth Solutions along Interstate 65 in Boone County has inspired plans for an $8 million truck stop and travel plaza.
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Altum’s staying put at current west Carmel location

March 23, 2011
Scott Olson
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn't found a buyer. Kroger nixed a deal to buy its property last fall.
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Retail/office building planned for site at Fort BenRestricted Content

March 19, 2011
Tom Harton
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.
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Office/retail building planned for Fort Ben

March 15, 2011
Tom Harton
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge as it works toward breaking ground this year on what it expects will be a 45,000-square-foot building geared toward retail and office tenants.
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Volunteers market growing retail space along East 10th

March 8, 2011
Francesca Jarosz
Six projects with more than 25,000 square feet of space will be completed this year and in 2012 along the 10th Street corridor, which runs from near Rural Street east to Sherman Drive.
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Browning set to start retail project; another in works

March 8, 2011
Tom Harton
Browning Investments is close to breaking ground on a small retail strip center on West 86th Street in front of St. Vincent Hospital and is in the early stages of planning a larger retail center at 131st and Meridian streets.
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Developers need Greenwood's OK for disputed land

February 25, 2011
Kathleen McLaughlin
Now that the Indiana Supreme Court has settled the lengthy Greenwood-Bargersville annexation battle, developer Mike Duke is ready to build on a 60-acre tract in the heart of the disputed territory.
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Duke Realty sells offices in shift toward industrialRestricted Content

February 19, 2011
Scott Olson
Strategy also calls for greater Southeast presence, less investment in the Midwest.
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Castleton Plaza seeks bankruptcy reorganization

February 18, 2011
Scott Olson
Shopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter 11 filing follows a request to foreclose on the property from the center's lender.
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Entrepreneurs plan microbrewery for Fountain Square

February 9, 2011
Kathleen McLaughlin
A group of entrepreneurs plans to open Fountain Square Brewing Co., possibly this summer, in a former carburetor-repair shop.
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Simon Property's quarterly profit rises on improving retail sales

February 4, 2011
 IBJ Staff and Bloomberg News
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
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Ritter’s Frozen Custard franchisees reopening stores

January 25, 2011
Scott Olson
As a new owner revamps the Ritter's business plan, at least four of the frozen custard stands in the area have either opened or are set to reopen in the same locations where they previously operated.
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Brenwick turns over commercial sales, leasing at Village of West Clay

January 25, 2011
Tom Harton
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
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Not much optimism in commercial real estate outlook

January 13, 2011
Cory Schouten
Another challenging year is in store for commercial real estate thanks to high unemployment, a still-struggling housing market and an unforgiving credit environment, Cassidy Turley plans to report Thursday at its annual State of Real Estate event.
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