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Metropolis mall purchased by Israel firms

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A joint venture of Israel-based firms has purchased the Metropolis shopping center in Plainfield for $52 million after the 68-acre outdoor mall fell into court-appointed receivership.

Aviv Arlon Global Ltd., a joint venture of Aviv & Co. and Arlon Global LLC, announced the acquisition in a press release that Israel business website Globes reported on Sunday.

Former Indianapolis-based development firm Premier Properties USA Inc. invested $160 million in the 600,000-square-foot center, which opened in October 2005.

Premier’s founder, Christopher P. White, however, was sentenced in November 2009 to one year of home detention and three years of probation in connection with a $500,000 bad check he wrote as he unsuccessfully tried to save his real estate development company.

Metropolis is 81-percent occupied with 65 percent of its leases considered long-term, according to the news release. Anchor stores include fashion chains Old Navy, Victoria’s Secret and JC Penney, as well as bookseller Barnes & Noble Inc., DSW and Rave Motion Pictures.

“We’re continuing to develop real estate activity in the U.S., including the purchase, redevelopment and leasing of income-producing real estate,” Aviv & Co. Chairman Doran Aviv said in a prepared statement. “This is our second purchase of a mall, and this mall is double the size of the first mall, in Bonita Springs in western Florida.”

The mall brings in $9 million in annual rent, according to the press release.
 

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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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