Tech exec Owens drops bid for governor, endorses Myers
Supply Kick CEO Josh Owens said the move to suspend his campaign—which comes two days before the candidate filing deadline—lets Woody Myers become the party’s presumptive nominee.
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400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
Town of Speedway announces plans for 25-acre project near I-465
The project is expected to include a 127-room Hampton Inn and conference center, a national grocer, restaurants and retail space, and possibly senior housing and medical offices.
Developer plans eighth floor, 39 more rooms for downtown hotel project
Original plans called for a 99,000-square-foot, seven-story building with 104 Moxy rooms and 102 AC Hotel rooms. The new plan includes 126 Moxy and 119 AC rooms in a structure of just more than 113,000 square feet.
Macy’s to close 125 stores, shed 2,000 corporate jobs
Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one-fifth of Macy’s current total. They include about 30 that are in the process of closing and account […]
Embattled Rep. Forestal won’t seek re-election; city councilor to seek his House seat
State Rep. Dan Forestal, a Democrat facing charges of drunken driving and impersonating a public servant, said he will not seek re-election so that he can “focus on my mental health.”
Simon Property holds deal talks with Taubman, sources say
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
Cummins sees 4Q sales drop, expects bigger revenue decrease this year
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Century-old Diamond Chain downtown plant with 240 employees set for closure
New owner Timken Co. plans to consolidate the local plant’s operations in Illinois. Diamond Chain was founded in 1890 as the Indianapolis Chain & Stamping Co., originally to produce chains for the nation’s fast-growing bicycle industry.
Charter operator spending $10M to relocate elementary school to former warehouse
Paramount Schools of Excellence bought the 55,000-square-foot building in the Cottage Home neighborhood for about $3.2 million.
Simon Property’s fourth-quarter performance exceeds expectations
The Indianapolis-based shopping mall giant topped analyst predictions for funds from operations and revenue in the latest quarter.
Carmel council members seek answers over hotel’s cost overruns
A double-barrel audit may be the next step in scrutinizing why Carmel’s boutique hotel project, The Hotel Carmichael, is about $20 million over its original budget.
Indiana push for pregnant worker protections gets sidelined
The proposal faced opposition from some business groups, including the Indiana Chamber of Commerce and the Indiana Manufacturers Association.
Amazon plans new Indianapolis-area distribution facility with up to 1,000 employees
The Seattle-based e-commerce company plans to use a 660,384-square-foot building that’s already under construction for an an “inbound cross dock” center.
IBJ Podcast: Colts legend Gary Brackett wants to turn his underdog story into a movie
Gary Brackett talks with podcast host Mason King about the challenges of making a movie, why he thinks he has a good story to tell and why he’s not just funding the movie’s $2.2 million to $2.5 million budget.
Carmel hotel project more than $20 million over original budget
City officials, on Friday night, said the total price tag for the city-backed Hotel Carmichael project has risen to $58.5 million due to rising construction and labor costs.
Judge orders mediation in fight between city, Ambrose over Waterside project
Marion Superior Court Judge Timothy Oakes said he does not believe the court system was the correct arena for the dispute, which he said is more of a business conflict than a legal matter.
Frustrated health consumers turn to apps, websites to find lowest drug prices
In recent years, a host of online websites and smartphone apps—such as GoodRx, Blink Health and Script Saver—have popped up to help people find the lowest price for prescription medicines. By using them, consumers can save thousands of dollars a year on their prescriptions if they don’t mind shopping around and buying some of their drugs outside their insurance plans.
Former Colt Gary Brackett raising money for a movie about his life
The Indianapolis restaurateur, who owns the Stacked Pickle chain, has been working since 2017 to bring his story to the big screen; this month, he launched a crowdfunding campaign to help raise part of the cost.
Can BlueIndy flop become transit opportunity for city?
Stakeholders tell IBJ they’d like to see the electric-car-sharing service’s infrastructure continue to be used in some fashion.