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.
Commercial Real Estate
Articles
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.
Simon family’s interests helped city thrive, but taxpayers paid the price
The Simon family’s role in building the city has come at a steep price for taxpayers. Simon and
its business interests in the last 20 years have collected local government incentives
worth more than $400 million, an IBJ tally of those deals shows.
Most office-space renters opt to stay where they are
Tight budgets, unsure future make moving unattractive to office-space renters.
School makes move into historic Lockerbie building
The private Todd Academy plans to move into a historic building at the northwest corner of East and New York streets in Lockerbie
Square.
Airport hotel in limbo
The recession, coupled with personnel shifts, have grounded the more than $50-million hotel project adjacent to the new terminal.
UPDATE: Macy’s closing wounds ailing mall
Macy’s decision to close its store at Lafayette Square could deal a devastating
blow to a mall already reeling from the loss of other major tenants.
Distribution holds promise for Central Indiana
A new report shows that, despite a sluggish national economy, the Indianapolis area should continue to attract industrial
businesses and distribution centers next year.
Kite drops about 10 percent of its staff as retail market flounders
Kite Realty Group Trust has joined local peers Duke Realty Corp. and Lauth Group Inc. in laying off employees as it copes
with dried-up credit and a soft retail market.
Chicago’s Jones Lang LaSalle attracts talented local brokers to establish Indy branch
Some of the city’s most prominent commercial real estate brokers have resigned from locally owned Meridian Real Estate to
launch an Indianapolis affiliate of Chicago-based Jones Lang LaSalle.
Duke Realty star starts new company
Aasif Bade started Ambrose Property Group with three employees this month.
Meridian founder steps aside
Veteran office broker John Robinson, one of the founders of locally based Meridian Real Estate, has left the firm and is working
on a new venture.
California’s Blue Real Estate establishes local presence
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
Airport terminal to rent out space, keep many employees in old facility
The new, $1.1 billion terminal at Indianapolis International Airport likely won’t house as many airport employees as the existing
facility. Instead, portions of the terminal are being set aside for their revenue-generating potential.
Indiana CEOs are cautious during financial mayhem
CEOs with Simon Property, Duke Realty Corp. and Interactive Intelligence Inc. report that their companies are taking an uncharacteristically
cautious approach to acquisitions and investments, given the faltering economy.
DBSI, an Idaho company with Indiana properties, faces class-action suit
DBSI, an Idaho real estate firm with 250 properties worth $2 billion faces a class-action suit. Some of its properties and
investors are in Indianapolis.
M&I Plaza, only 30-percent occupied, may sell at cut-rate price
A local real estate developer has emerged as a top contender to buy the 28-story M&I Plaza–potentially at half the
$50 million price the building fetched a decade ago. Paul Kite Co. confirmed it is in talks with Maryland-based
CapitalSource Inc., which took over the struggling office tower in June after foreclosing on a $5 million
mezzanine loan.
Tough economy touching all industries, but some are hurting more than others
Stock markets are falling, jobs are disappearing, and the outlook for the economy seems grim. Banks, real estate developers,
retailers and manufacturers are taking the worst hits, but all types of businesses in central Indiana are hurting. From health
care to technology, education to philanthropy, every industry is trying to take the setbacks in stride.