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Duke Realty Corp. reported late yesterday that funds from operations in the third quarter increased 4.6 percent, to $93.7 million. The 68 cents per share exceeded the 67-cent average anticipated by analysts surveyed by Thomson Financial. Late last month, Indianapolis-based Duke, one of the nation’s largest industrial real estate investment trusts, said its leases hit […]
Developer Rivalry: Locally based developers Duke and Lauth, headquartered on opposite sides of I-465 just east of Meridian Street, have cultivated quite a rivalry over the years. The latest win goes to Lauth. The company won a side-bet in a…
A couple of nuggets from recent development plans:
Making Way for Venu: Another Woodfield Centre tenant is moving to make way for redevelopment. Elan Furs has filed plans to take space in Clearwater Shoppes…
Stephen Hilbert’s private equity firm is providing some of the $1 billion in financing that Indianapolis-based Centaur Inc. has assembled to fund “racino” projects in Anderson and near Pittsburgh. Centaur this afternoon said it had closed on the financing, which will fund the addition of 2,000 slot machines at Hoosier Park in Anderson. Included in […]
Veriana Networks Inc., a startup specializing in technology, media and risk management for the entertainment industry, plans to announce this afternoon that it will create 280 jobs by 2012 in its headquarters city of Marion. Veriana will locate in a 252-acre lifestyle project also to be announced at a news conference in the city north […]
Holladay Properties and the Indiana Wildlife Federation plan to dedicate the state’s first “Certified Wildlife-Friendly Development” at an event tomorrow. The 1,500-acre AmeriPlex Business Park, southwest of the Airport, won the designation by…
Quest for the Ring has suddenly taken on new meaning for Indianapolis Colts fans. The phrase now has as much to do with a raffle, treasure hunt and half-time reality show as it does with the team’s pursuit of a repeat Super Bowl championship. At noon today, Colts owner Jim Irsay announced the team will […]
Berry Plastics Group Inc., an Evansville-based maker of plastics cups, announced today it will build a $20 million global headquarters and create 250 jobs. The move follows its March consolidation with Covalence Specialty Materials Holding Corp. of Bedminster, N.J. The headquarters will be at 101 Oakley St. in downtown Evansville. Berry received nearly $5 million […]
ImmuneWorks has received a $300,000 investment from Indiana Seed Fund I to help the Indianapolis company research a manufacturing process for a drug it is developing to fight idiopathic pulmonary fibrosis, a lung disease. The fund is managed by BioCrossroads, the not-for-profit that promotes the life sciences industry in the state. Founded last year by […]
State officials are challenging a $7-million assessment for a 2.3-acre parking lot sandwiched between the RCA Dome and Lucas Oil Stadium. The state has launched eminent domain proceedings, and the owner isn’t…
Eli Lilly and Co has agreed to buy rights to an experimental compound for the treatment of various pains, including pain associated with osteoarthritis, from Glenmark Pharmaceuticals Ltd India. Lilly will pay a $45 million upfront fee as well as up to $215 million more in potential development and sales milestones, plus royalties. The compound, […]
An Indianapolis filmmaking company is preparing to start work on a movie about the first Indianapolis 500, which took place in Speedway in 1911. My First Bike Productions Director Justin Escue, who graduated from Ball State University and worked in the filmmaking hotbed of Austin, Texas, has lured screenwriter Angelo Pizzo, who wrote “Hoosiers” and […]
Lincoln Schrock, who helped Fort Wayne launch an economic development organization during the depths of recession in 1982, is leaving its successor group, the Northeast Indiana Regional Partnership. Schrock, now 66, left the administration of former Mayor Win Moses Jr. to start the organization after the city became a national poster child for Rust Belt […]
Evansville-based Old National Bancorp today reported that third-quarter profit increased 13.3 percent, to $22.6 million, due to broad gains created by tighter management. Interest margins widened, credit quality improved and expenses were contained in the quarter ended Sept. 30, said the bank, which has branches in the Indianapolis area. Return on average equity of 14.2 […]
Simon Property Group Inc. posted $418.7 million in funds from operations in the third quarter, a 13.3-percent increase over the year-ago period. Profit in the quarter increased 74.3 percent, to $164.9 million, due mostly to gains on sales of assets. For the year, the Indianapolis-based retail mall developer said it expects funds from operations, a […]
The Naval Surface Warfare Center at Crane has increased procurement spending in Indiana four-fold in the past six years, according to the Times-Mail of Bedford. The base bought $1.3 billion of goods and services from Indiana companies in the most recent fiscal year, the newspaper reported. Most of the increase has been driven by the […]
The executive director of the Horizon Convention Center in downtown Muncie estimates the center has lost half a dozen conventions since the historic Roberts Hotel across the street closed a year ago. Joann McKinney said in The Star Press that the loss of the city’s last downtown hotel left convention-goers no place convenient to rest, […]
Melinda and Brooks Bertl know the ups and downs of the current real estate market-personally. They started looking for a home to buy this spring and it took them only two weeks to find one they liked in Carmel. “I guess we knew what we wanted and found it. And the house had been on the market for some time,” said Melinda Bertl, indicating the sellers were ready to make a deal. They bought the house and moved into it….
If it lives up to the hype, the Portable People Meter could revolutionize radio advertising by providing a more accurate look
at who’s listening to what. The pager-size device tracks radio-listening habits in real time, rather than relying on ratings
survey participants to remember what stations they tuned in during the course of a day.
Gov. Mitch Daniels unveiled a tax proposal Oct. 23 designed to remedy a number of widely held concerns over property taxes in the state. In a nutshell, his proposal reduces property tax collections by one-third and generates additional revenue by increasing the general sales tax 1 percentage point. His plan offers a three-tiered property tax rate-1 percent residential, 2 percent rental and 3 percent commercial-and moves taxation (and perhaps budgetary decision making) from the township to the county level. It…
