Lauth Group’s collapse offers a lesson in hubris
Since key Lauth Group subsidiaries landed in bankruptcy in May, the company has described its misfortune almost as if it
were an act of God.
Commercial Real Estate
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UPDATE: Simon rents, occupancy buck shopping decline
Sales still are suffering at shopping centers owned by Simon Property Group Inc., but the Indianapolis-based
mall giant managed in the second quarter to keep occupancy steady and eke out an increase in average rent rates.
Simon reports loss amid tough retail conditions
Indianapolis shopping mall giant Simon Property Group Inc. today said it lost $20.8 million in
the second quarter in what it called a “difficult retail environment.”
Duke Realty suffers second-quarter loss
Indianapolis-based Duke Realty Corp. late yesterday posted a 32-percent drop in its second-quarter funds from operations,
a key performance measure for real estate investment trusts.
Indianapolis hotels feel pain of national slump
Hotel occupancy rates are way down in Indianapolis, as they are elsewhere, but local operators and national analysts think
the city is in a good position to bounce back when the economy improves.
Redevelopment eyed for former jail building
Prospective buyers need a little vision to see the potential in the four-story former jail at the southwest corner of Maryland
and Delaware streets.
Kite Realty misses out on REIT revival
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut
dividends, and set the development engine to idle. But as the shares of most publicly traded real estate
investment trusts have bounced back from the lows in March, Kite’s shares have lagged.
Keystone Construction plans Madison Avenue retail center
A local developer is planning a retail strip center along Madison Avenue just south of downtown in a neighborhood that’s been
begging for investment for years. The plans by Keystone Construction Corp. call for a 25,000-square-foot retail
center at 1400 Madison Ave., across from Sisters’ Place Restaurant.
David Simon named among world’s best CEOs
The big cheese at Simon Property Group is wedged among the “top gun” executives in the U.S.
Judge to determine whether Lauth’s filing was proper
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company’s bankruptcy
cases.
Browning acquires 43 homes for $100 million mixed-used development in Carmel
Developer Brown Investments has reached terms with the owners of 43 of 49 homes in the North Meridian Heights neighborhood
in Carmel. Browning plans to demolish the homes to make way for a $100 million commercial development over 17 acres.
Transit, sustainable development likely to be themes in rescue of near-north neighborhood
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County’s biggest
concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
Kroger eyes Zionsville location
Kroger Co. is looking at land in Zionsville for a new store.
Panel handicaps market recovery chances
A panel of five veterans of real estate and construction provided industry insights at IBJ‘s Power Breakfast May
1 at the Westin Indianapolis.
In recession, commercial brokers struggle to determine property values
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it’s becoming increasingly difficult to determine the value of properties.
Binford medical complex takes another punch
The anchor tenant in the Binford Medical-Professional Office Complex at the corner of 65th Street and Binford Boulevard has closed temporarily, citing a lack of other tenants in the high-profile medical building. The shut-down is the latest in a string of setbacks for what was to have been a five-building, $29 million development. The Binford […]
Recession slows the creation of a self-contained Boone County community
Creating a self-contained community on 1,700 acres of farmland could take much longer than the 15 to 20 years Duke Realty
Corp. predicted.
Lauth needs financing, real-estate recovery to emerge from bankruptcy
The 32-year-old developer Lauth Group Inc. likely will survive in some form if the company can find financing to get it through
a Chapter 11 reorganization and if the real estate market doesn’t take too long to turn around, experts said.
REITs get boost, not scorn, for selling cheap shares
Here’s more evidence we’re in strange times: Indianapolis’ real estate investment trusts have been issuing hundreds of millions
of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.
Lauth, a once-booming developer, has sliced 90 percent of work force, lost control of some properties
Struggling developer Lauth Group Inc. has cut about 90 percent of its staff and lost control of part of its portfolio to a
major equity partner-developments that raise doubts about whether the locally based company can survive the recession.