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Real Estate & Retail

VanAusdall to auction off city block

Local office equipment distributor VanAusdall & Farrar Inc. is putting an entire city block on North Meridian Street up for auction, a move that could spur development in a corridor real estate experts say is ripe for activity. The three-acre property is between 12th and 13th streets.
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Verus Partners gets busy in 1st year in local market: Chicago newcomer has 3 developments under way

In 2003, four men decided to leave careers at Chicago-based development powerhouse Higgins Development Partners LLC to start their own company. The result, Verus Partners LLC, an industrial, office and institutional developer, has grown rapidly, opening two offices in Canada and one in Indianapolis, and is pondering a new office in Charlotte, N.C. And its 1-year-old local office is spearheading an aggressive move focused on developing speculative industrial space. Last year, Verus hired Tom Theobald, a 19-year commercial real estate...
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VOICES FROM THE INDUSTRY: Low-impact development likely to make a big impact

Every time Indiana experiences one of its summer cloudbursts, the rainfall sets into motion one of a real estate development's most expensive and least appreciated systems. As rain hits the ground, it quickly collects into wellengineered courses to swales and gutters, through pipes and culverts and into detention ponds. Flowing around, over and through the land that once absorbed it, the water is efficiently collected and conveyed off the site. In other words, gather it up and drain it off....
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Fountain Square district shoring up its Corners: Group turns old buildings into residential/work spaces

If State and English avenues in the Fountain Square district were on a Monopoly board, they would probably be the ones available immediately after passing "Go." But after the Southeast Neighborhood Development Inc. is finished there, the intersection will move several spaces closer to Park Place. The not-for-profit is investing $1 million to renovate three dilapidated buildings it bought to convert them to residential/work spaces as part of its Fountain Square Corners development. A local photographer who will live in...
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BEHIND THE NEWS: Coastal cash flowed into tiny firm, yielding big payoff

Century Realty Trust is but a grain of sand in the universe of real estate companies. But within the last few years, the Indianapolis firm has caught the attention of investors on the coasts, and they're the richer for it. Now that Century Realty is selling nearly all its properties to Indianapolis-based apartment owner Buckingham Properties and liquidating, its investors likely will collect from $20.50 a share to $21 a share, according to a filing with the U.S. Securities and...
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Noble Roman's seeking a return to glory

Noble Roman's Inc. executives think they've found the recipe to lift their company out of its stock malaise. The Indianapolis company started franchising last year restaurants that feature dual branding with its Tuscano's Italian Style Subs, and it plans 157 locations within three years.
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CHRIS KATTERJOHN Commentary: Orange County casino a losing bet?

I'm starting to get a bad feeling about the Orange County casino project. Truth be told, I've had the bad feeling for a long time, and now it's getting worse. The latest blip on the radar in what has been a challenged project from the get-go is the contentious legal battle that has surfaced between the two partners: Bob Lauth of Lauth Property Group and Bloomington billionaire Bill Cook. I guess that's not that unusual. Ed Feigenbaum, publisher of Indiana...
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State awarenesss initiative targeting investment fraud: Program touts knowledge to prevent financial scams

Conservative estimates put the amount of money Hoosiers are bilked by investment fraud scammers at $100 million a year. The high-end estimate for victims of pyramid scams, bogus gas and oil ventures and unscrupulous mortgage practices is closer to $800 million. Those involved in catching and prosecuting the scammers say proactively educating people about investments in general and scams in particular would go a long way toward helping the problem. "Our financial illiteracy is high," said Mark Maddox, managing partner...
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