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Ayres stores may be razed: Smaller shops likely replacements at Castleton, Greenwood

March 6, 2006

Simon Property Group Inc. wants to take the wrecking ball to the soon-to-be-vacant L.S. Ayres stores at Castleton Square and Greenwood Park malls, clearing the way for development of a collection of smaller stores and restaurants, sources familiar with the plans say. “There have been numerous site plans circulated showing redevelopment with the existing structures removed,” said Bill French, a local retail broker with St. Louis-based Colliers Turley Martin Tucker. Mark Perlstein, a partner with The Linder Co., an Indianapolis-based…

Hotel firm investing $30 million by stadium: Dora Brothers specializes in properties on the fringes

March 6, 2006

The downtown hotel operated by Dora Brothers Hospitality Corp. is unlikely to be confused with the towering convention hotels that sit, literally, on the other side of the tracks. While behemoths like the Westin, Marriott and Hyatt boast bustling restaurants, gleaming lobbies, meeting facilities and an attached walkway to the Indiana Convention Center, Dora’s modest Best Western Hotel offers little beyond clean, comfortable rooms, continental breakfast and a short walk to the heart of Indianapolis. Fishers-based Dora Brothers, however, is…

Short session long on action: Led by Major Moves, telecom successes, biz interests fared well in 2006 General Assembly

March 20, 2006

In less than three months, the Indiana General Assembly approved a pair of blockbuster economic-development measures designed to dramatically upgrade the state’s infrastructure. With the passage of Gov. Mitch Daniels’ Major Moves initiative, Indiana will lease the Indiana Toll Road to an Australian-Spanish consortium for 75 years. It will use the upfront, $3.9 billion payment to build roads. Meanwhile, the approval of telecom deregulation sets the stage for more local phone, cable and Internet competition. Daniels, a Republican, argued that…

Tourism’s new buzz: Product development: Officials want to build on Indiana’s unique assets

April 3, 2006

Billboards in southern Indiana used to tug spelunkers in four different directions. Come to Marengo Caves. Spend an afternoon at Bluespring Caverns. Visit Wyandotte Caves. Don a headlamp at Squire Boone Caverns. Two years ago, however, operators at the four attractions decided it might be a better use of cash to market the area as a single attraction. They pooled their advertising budgets and printed a brochure that listed all four destinations. They also created a passport that visitors could…

Circle Centre’s 4th floor may drum up office tenant: Percussive Arts Society lease could spawn other deals

April 17, 2006

The Lawton, Okla.-based Percussive Arts Society might announce as early as next month that it’s moving its 12 headquarters employees into 15,000 square feet on the troubled fourth floor of Circle Centre mall, according to a source familiar with the discussion. Roughly 10,000 of those square feet would be a museum that might get bongo enthusiasts and the curious alike to stop by and check out some Thai button gongs and West African talking drums. If all goes as planned,…

Scholar’s Inn ready to rise: Starbucks-like strategy: ‘Bread for the masses’

April 24, 2006

Scholar’s Inn bakers load delivery trucks with more than 5,000 loaves of bread each week. And each time head bread baker Jeff Duez rolls a rack of apricot almond bread out to the loading dock, he ducks his head. A 5-foot-high doorway separates the bakery’s Bloomington kitchen from the ramp where delivery trucks pull up twice daily. That’s one of the many inefficiencies co-owner Lyle Feigenbaum addressed when he purchased a 10,000-squarefoot production facility the company will fire up this…

NASCAR a big deal for IRST: Role as security products provider could be worth $100M

April 24, 2006

Ingersoll Rand Security Technologies has been named NASCAR’s first official provider of security products, a deal that could mean substantial growth for the company’s Carmel headquarters and an Indianapolis manufacturing plant, which together already employ 900. IRST is a division of Bermuda-based behemoth Ingersoll-Rand Co., which is better known for agricultural, construction and transportation equipment sold under names such as Bobcat and Thermo King. The link with the racing circuit is expected to drive home the point that Ingersoll-Rand is…

Real estate experts examine the market: Indianapolis in good shape overall, panelists say, but job growth, incentive issues, among concerns

April 24, 2006

On April 14, as part of its Power Breakfast Series, the Indianapolis Business Journal gathered a panel of commercial real estate and construction experts to discuss industry conditions in the local market. In a discussion moderated by IBJ Editor Tom Harton, panelists took on a wide range of issues, including tax incentives and the status of downtown’s residential and retail markets. Power Breakfast guests were Mike Curless, executive vice president and principal with Lauth Property Group; Mike Wells, president of…

Medical office boom to hit intersection on south side: Developers race to scoop up acreage in area, enticed by proximity to hospitals, Interstate 65

May 1, 2006

A south-side intersection that didn’t even have a connection to nearby Interstate 65 a few years ago soon will become saturated with medical offices and a long-term, acute-care hospital. Greenwood developer Allen Commercial Group has plans to build four medical office buildings near the intersection of Emerson Avenue and County Line Road, less than a mile south of St. Francis Hospital-Indianapolis. Some of that work has begun. In addition, Indianapolis-based Lauth Property Group Inc. is planning two more office buildings…

Jackson Press makes $3 million investment: German-imported UV press puts firm in rare company

May 8, 2006

At a time when many commercial printers are proceeding cautiously through a slow recovery, Indianapolis-based Jackson Press Inc. is investing $3 million in its future. Jackson Press on May 1 completed installation of a new German-imported press with digital work flow and a UV lamp system, which allows ink to dry quicker and with more clarity than on a traditional press. “This press gives us much more flexibility, with the ability to print on plastics and other substrates,” said Jackson…

TAWN PARENT Commentary: Scattered images from abroad

May 8, 2006

We landed in the Marble City, nearly blinded by the light and the white and the reflection of it all. I think of Athens as the Marble City because of its many ruins, but also because of all the other marble buildings and the slippery marble sidewalks and, in our apartment, the marble walls and floors and marble countertops that make so much noise when you set your cup down. We felt compelled to bring some marble home with us….

Artery severed, but life goes on TOM HARTON Commentary:

May 22, 2006

Jane Jacobs, the noted urbanist, fought a battle in the late 1960s that prevented a freeway from wiping out the neighborhoods of lower Manhattan. Tom Battista, a local entrepreneur, is fighting-and some would say winning-the battle that becomes necessary when a freeway does wipe out a neighborhood. When Jacobs died last month she was famous for two things: her book, “The Death and Life of Great American Cities,” written in 1961, which eloquently stated the need for diversity, density and…

VOICES FROM THE INDUSTRY: Late urban planner’s ideas still hold lesson for today

May 22, 2006

Jane Jacobs passed away in late April. This working mother with no formal education in urban planning wrote the book that revolutionized the way we thought -and still think-about cities. “The Death and Life of American Cities,” first published by Vintage Books in 1961, became the equivalent of the “Art of War” by Sun Tzu in the fight against “urban renewal” in the 1960s. Ms. Jacobs’ enemies in the 1960s probably thought she was tougher on them than Sun Tzu…

Conrad high-rise condos sell fast: Only 4 of 15 residences left; biz leaders among buyers

May 29, 2006

Eli Lilly and Co. President John Lechleiter is among the wealthy buyers who have snapped up all but four of the 15 private residences perched atop the Conrad Hotel downtown. Lechleiter will be on the 23rd floor, one level from the top. Pete Piazza, president of Piazza Produce Inc., will be on the 22nd. And insuranceindustry executive Jack Mead will be on the 21st. The 15 residences fill the top six floors of the new $100 million tower. They start…

BEHIND THE NEWS: Honeymoon period ends for Steak n Shake’s CEO

May 29, 2006

The steakburgers and shakes still taste good, but suddenly the stock is less appetizing. Shares of Steak n Shake Inc. have shed 22 percent of their value since late March, wiping out $122 million in market value. And now CEO Peter Dunn, who had the Midas touch after coming aboard as president in September 2002, is confronting skepticism on Wall Street. “It just seems like something is missing,” A.G. Edwards analyst Jack Russo told Dunn during Steak n Shake’s quarterly…

Vacancies and sales spike at Circle Centre: Analysts say mall attracting higher-end shoppers

May 29, 2006

Vacancies at Circle Centre mall hit a five-year high in 2005. But so did salesper-square foot. How does one reconcile the discrepancy? Observers say the mall is luring more high-end consumers with trendier shops despite having a big chunk of open space. “They’ve been incorporating and attracting more productive and upscale retail concepts,” said Terry Sweeney, vice president of real estate development for Indianapolis Downtown Inc. The 10-year-old mall posted $393 in sales per square foot in 2005, up from…

NOTIONS: The spark of one soul relights a somber space

May 29, 2006

It’s 9 a.m. midweek in late May. While it’s cool enough to warrant the wearing of wool socks, faded jeans and an old sweatshirt, the sun shines from a cloudless sky into my little downtown courtyard. After ostensible eons of dreary, drizzly, rainy days, the bright stuff factors mightily into my mood this morning. In its midst, I write to you from my living room sofa, my feet propped on a colorful, oversized ottoman piled neatly with magazines, newspapers and…

“No habla ingles”: Immigrants who want to advance find many programs to help them learn English

June 5, 2006

No habla inglesImmigrants who want to advance find many programs to help them learn English Osvaldo Escobedo was hungry to learn English. It was bad enough when he couldn’t advance at the Nissan Motor Co. plant in Aguascalientes, in central Mexico, because he couldn’t converse in the business language of English. Later, when he came to the United States, he couldn’t eat much more than what he could pronounce. “When I go to restaurant, I ask [for] ‘coffee and doughnuts….

Museum’s battle plan: Conner Prairie seeks boost from Civil War re-enactment

June 5, 2006

There were no Civil War battles fought in central Indiana. That won’t stop 400 soldiers in inhumanely hot wool uniforms from re-enacting a massive battle June 10-11 at Conner Prairie. Confederate and Union flags will wave. Brass instruments will sound. Cannon blasts will shake the trees. Sixty armed men on horses will lead the charge. The fighting will last less than an hour each day. The Hamilton County living-history museum hopes the economic effects last much longer. With the 150th…

IUPUI again running in the fast lane: Track facility emerges nationally after long absence

June 12, 2006

For its first 15 years after opening in 1982, the Michael A. Carroll Track & Field Stadium on the IUPUI campus hosted a major national or international trackand-field event almost annually. For the last decade, it’s been primarily relegated to charity events and local grade-school championships. But with the first high-profile competition at the track since 1997 scheduled for this month, the venue is poised for rebirth. From June 21-25, it will host the U.S. National Championships-an event organizers hope…

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Articles

Ayres stores may be razed: Smaller shops likely replacements at Castleton, Greenwood

Hotel firm investing $30 million by stadium: Dora Brothers specializes in properties on the fringes

Short session long on action: Led by Major Moves, telecom successes, biz interests fared well in 2006 General Assembly

Tourism’s new buzz: Product development: Officials want to build on Indiana’s unique assets

Circle Centre’s 4th floor may drum up office tenant: Percussive Arts Society lease could spawn other deals

Scholar’s Inn ready to rise: Starbucks-like strategy: ‘Bread for the masses’

NASCAR a big deal for IRST: Role as security products provider could be worth $100M

Real estate experts examine the market: Indianapolis in good shape overall, panelists say, but job growth, incentive issues, among concerns

Medical office boom to hit intersection on south side: Developers race to scoop up acreage in area, enticed by proximity to hospitals, Interstate 65

Jackson Press makes $3 million investment: German-imported UV press puts firm in rare company

TAWN PARENT Commentary: Scattered images from abroad

Artery severed, but life goes on TOM HARTON Commentary:

VOICES FROM THE INDUSTRY: Late urban planner’s ideas still hold lesson for today

Conrad high-rise condos sell fast: Only 4 of 15 residences left; biz leaders among buyers

BEHIND THE NEWS: Honeymoon period ends for Steak n Shake’s CEO

Vacancies and sales spike at Circle Centre: Analysts say mall attracting higher-end shoppers

NOTIONS: The spark of one soul relights a somber space

“No habla ingles”: Immigrants who want to advance find many programs to help them learn English

Museum’s battle plan: Conner Prairie seeks boost from Civil War re-enactment

IUPUI again running in the fast lane: Track facility emerges nationally after long absence