Open thread: What’s happening?
Your Friday gift: An open thread to discuss whatever real estate topics are on your minds. Fashion Mall? MSA? Penn Centre? The new BMW ad on this blog? We’re classin’ it…
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Blog: Simon defending Fashion Mall turf
At least one local real estate broker thinks Simon Property Group’s plan to expand the Fashion Mall is a competitive dig at the nearby Venu mixed-use project. Simon said yesterday it would add 150,000 square feet to the Fashion Mall. The long-rumored addition of a second level on the west side of the property will […]
Simon defending Fashion Mall turf
At least one local broker thinks Simon’s plans to expand the Fashion Mall are a competitive jab at Premier Properties, which is planning a mixed-use development called Venu southwest of the intersection of…
Simon to add 150,000 square feet to Fashion Mall
Indianapolis-based Simon Property Group said today that it plans to build 150,000 square feet onto the Fashion Mall next year and lure 20 additional tenants. Most of the expansion-100,000 square feet-will be added to the second level on the west side, Simon said. Nordstrom will occupy a total of 130,000 square feet on two levels. […]
Sizzling malls add more new stores
North-siders are set to get even more shopping and dining options in the coming months. Several new retailers have filed plans to open new stores in the Fashion Mall at…
Developer offers big bucks for homes
A developer is negotiating individually with 77 condo owners to buy a community called Lakes at the Crossing that sits near the Fashion Mall. Gershman Brown & Associates has…
Circle Centre doing well except for 4th level
Excluding the fourth floor, Circle Centre mall’s 11th full year of operation was a big success. Profit in 2006 increased nearly
18 percent to $9.3 million, according to an annual report filed with the city. But on the top floor, abandoned bar stools
have now collected four years of dust in the former home of a nightclub complex.Condo owners in quandary over developer’s offer
The questions these days among residents of Lakes at the Crossing, a quiet community of 77 condos tucked behind a strip center
and an office park along 86th Street at Keystone Avenue, are: Who will sell, and for how much?iPhone sales strong in first weekend
Apple Inc. sold about 200,000 iPhones in the first 24 hours the product was on store shelves. By late Sunday, 520,000 gadgets had sold. The iPhone, which also works as an iPod music player and a wireless Web device, went on sale the evening of June 29. It sells for $500 for the 4-gigabyte version […]
BEHIND THE NEWS: Why Finish Line is betting company on Genesco buyout
Here’s a paradox: If Finish Line Inc. CEO Alan Cohen hadn’t run his company with such a conservative hand through the years, he wouldn’t have been in a position to launch the audacious acquisition of Genesco Corp.-a retailer with nearly twice the stock-market value. The fact that Finish Line carried no debt-a strategy that irked some shareholders as overly cautious-meant the Indianapolis firm had the financial wherewithal to pull off the $1.5 billion buyout. In a report, BB&T Capital Markets…
Cheesecake heads South
The decision by Cheesecake Factory to open its second Indianapolis restaurant on the south side seems to validate the consensus among brokers that the area has been underserved by restaurants. The California-based…
Local malls line up new restaurants, retailers: Cheesecake Factory to open in Greenwood; hot clothing store H&M heading to Castleton
LAS VEGAS-Redevelopment plans at Greenwood Park and Castleton Square malls call for popular new restaurants and a sought-after Swedish clothing retailer. The additions-which would add the area’s second locations for The Cheesecake Factory and fashion retailer H&M, along with new-to-the-market restaurants Stir Crazy and BJ’s Restaurant & Brewery-are named in materials Simon Property Group Inc. shared with retailers at the International Council of Shopping Centers annual convention in Las Vegas. The highest-profile new tenant at Greenwood Park Mall would be…
Woodfield Crossing plan calls for hotel, offices, condos, theater
A local firm plans to redevelop a quiet corner near the Fashion Mall into a mixed-use behemoth with a full-service hotel,
5,000-seat theater, hundreds of condos, and more than a million square feet of office and retail space.BEHIND THE NEWS: Missing the market rally: state retailers slumping
It’s a great stock market for many companies, but Hoosier retailers like The Steak n Shake Co., Finish Line Inc. and Shoe Carnival Inc. are being left in the dust. You know a retailer’s having a tough time when it says it was hurt by stormy weather, high gas prices and housingrelated woes-all at once. Steak n Shake CEO Peter Dunn put it succinctly in a conference call with analysts this month: “As gas prices go up and as interest…
Plan calls for mixed-use giant
A local developer is planning an ambitious project called Woodfield Crossing that would add 1.8 million square feet of development to the southwest corner of 86th Street and Keystone Avenue. The project,…
Venu
Venu calls for a mall roughly the size of The Fashion Mall at Keystone, a 575-room hotel that would be the city’s third largest after a new JW Marriott and the Indianapolis Marriott Downtown, and an office building with nearly…
BULLS & BEARS: High risk doesn’t always translate into high returns
Previously, we were discussing Jeremy Grantham’s brash newsletter about global bubbles (found at www.gmo.com). His frank talk is a bit stunning to me. Grantham’s expertise is in analyzing the relative values of various asset classes and arriving at estimates of their future returns. And he has reached an unprecedented conclusion: Over the next years, higher-risk investments will earn poorer returns for investors than lower-risk investments. Historically, investors have been compensated with higher returns for taking on more risk. In the…
BEHIND THE NEWS: Private equity players may be primping firms for IPOs
It’s an age-old strategy: A private equity firm buys a company, bolsters its performance, then pockets a tidy profit by taking it public or selling it outright. Los Angeles-based Freeman Spogli & Co., the majority owner of Hhgregg Inc. the past two years, last month revealed plans for a $170 million initial public offering for the consumer electronics retailer. You can be sure other private equity firms that have scooped up local companies in recent years have the same exit…
Broadbent’s new era: Veteran real estate firm known for strip centers prepares for new headquarters, new leadership
The distinctive black-and-white façade of the Zipper Building at Washington Street and Virginia Avenue is gone, stripped away like ceiling tiles from an old bedroom. Replacing the unusual exterior of the three-story structure will be a more traditional brick and stone look-and a new moniker bearing the name of owner The Broadbent Co. Broadbent, the longtime developer of retail strip centers including Castleton Plaza, Clearwater Crossing and Fashion Mall Commons bought the downtown building last October and is set to…
Carmel to get $30M Renaissance hotel
A prestigious, full-service hotel soon will complement Carmel’s booming office market along North Meridian Street. A Cincinnati
developer broke ground this month on a roughly $30 million Renaissance hotel with 263 rooms and 14,000 square feet of meeting
space.