Holcomb asks Supreme Court whether AG Hill’s suspension creates vacancy for him to fill
Holcomb’s petition also challenges Curtis Hill’s decision to appoint his chief deputy to serve in his absence.
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Area existing-home sales sank 16.8% in April amid pandemic limitations
Amid the big decline in sales, prices hit record highs in central Indiana, according to the MIBOR Realtor Association.
Former downtown correctional facility up for sale as neighborhood takes off
Real estate sources told IBJ the land likely would sell for at least $1 million per acre because of its proximity to the heart of downtown, where sizable redevelopment opportunities are scarce.
Simon shares rally after firm lays out reopening plans, pledges to pay a dividend
CEO David Simon said the company is continuing to work closely with its tenants but declined to discuss how it is assisting those that have faced financial strains from limited or diminished operations.
Discount retailer with 8 central Indiana stores files for bankruptcy, seeks buyer
Store closures due to the coronavirus crisis undermined the department store chain’s parent company and its ability to get financing to continue operations.
Restaurants reopen for dine-in service with restrictions but cautious optimism
Restaurateurs didn’t know what to expect early Monday, but patrons likely will see staff members in masks, tables spread at least six feet apart and rigorous cleaning protocols.
Steak n Shake permanently closes 57 restaurants amid dismal first quarter
With its restaurants limited to drive-thru, takeout or delivery for much of March because of the virus outbreak, the burger chain saw quarterly revenue plummet by $59 million.
IBJ Podcast: Wedding season walloped by COVID leads to postponements, tears, pizza parties
Hundreds of thousands of couples who for months have been picking preachers, flowers, venues, bridesmaid dresses, reception menus and DJ playlists now find themselves making a heart-wrenching, no-win decision.
Pay cuts, layoffs hit white-collar workers, too
Experts say the wave of layoffs and pay cuts that first ravaged the service industry in mid-March are starting to erode management, upper-level and even executive jobs.
Kite Realty sees 25% of tenants ask for rent deferrals in first quarter
The Indianapolis-based real estate company reported a 16% year-over-year drop in revenue during the first quarter as many tenants sought rent deferrals to weather pandemic-related business shutdowns.
Some restaurants in no rush to resume dine-in service
With capacity restricted, the smallest restaurants say it’s not feasible to reopen. Others are proceeding cautiously and changing how they’ll operate.
Developer attributes continued delays on Speedway hotel project to pandemic
Construction has been stalled on the planned 126-room hotel at the southeast corner of Main and 16th Streets since July 2019, while Indianapolis-based development firm Loftus Robinson LLC has tried to shore up financing.
EdgeRock Development proposing $18M apartment, retail complex in Westfield
There’s still some debate about whether the roughly 100-unit apartment complex with 30,000 square feet fulfills an expectation that senior apartments would be built on the property.
Gary Brackett closes Stacked Pickle sports bar chain
Stacked Pickle lists 10 locations on its website—nine in Indiana and one in Dayton.
Judge: Indianapolis not required to reveal Amazon bid proposal
The details of Indianapolis’ bid for Amazon’s second headquarters project might never be revealed after a judge ruled that the documents aren’t required to be released under Indiana’s public records law.
Shake Shack pauses expansion, putting Fishers project on back burner
Reeling from a slowdown in sales due to the coronavirus crisis, the New York City-based burger chain says it has paused all design and construction of new eateries. The Fishers location was set to open late this year.
Local firm plans five-story, all-timber office building in Broad Ripple
The $20 million project a block west of the Monon Trail would include an interior parking garage and a 2,600-square-foot rooftop deck.
Allison Transmission sees first-quarter profit, revenue decline
The Indianapolis-based manufacturer took a blow in the first quarter due to the pandemic, but still turned in results that exceeded analyst expectations.
Engineered Medical Systems sees orders for respiratory products soar 600%
The Indianapolis-based company is expanding operations and trying to hire an additional 30 assembly workers to keep up with skyrocketing orders from the COVID-19 pandemic.
Return of retail in Indy area far from business as usual
A smattering of shoppers found a mixed bag of offerings on the first day that nonessential stores were allowed to open, with many retailers remaining closed or still providing pickup-only service.