Zionsville Town Council OKs zoning changes for planned 179-unit apartment complex
Carmel-based Sila Capital LLC plans to build three, 3-story buildings at the southeast corner of Oxford Drive and Grove Pass.
Real Estate & Retail
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Report: Steak n Shake hires adviser to help it navigate debt morass
FTI Consulting will work with the Indianapolis-based company as it explores a possible out-of-court restructuring of its debt and lease obligations or a bankruptcy filing, The Wall Street Journal reported.
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Chicken salad restaurant chain roosting in Indy area with three locations
Founded in 2008, the Alabama-based fast-casual chain has grown to 181 franchised and company-owned locations in 17 states.
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Pandemic means renters can find deals downtown
Downtown apartment managers are extending rent specials, reducing parking costs and offering other incentives to get tenants in the door—and lock those already there into new leases.
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Airport’s retail-refresh timeline shifts with pandemic
Even amid dramatically reduced foot traffic, the facility’s work to refresh its slate of restaurants and shops is progressing—albeit more slowly than initially expected.
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Articles
16 Tech announces first round of food, retail vendors
The seven vendors, which include restaurants, a space for food entrepreneurs and a barber shop, will occupy 16 Tech’s 40,000-square-foot food and retail hall.
Missouri-based developer planning $70M industrial park on east side
Jones Development Co. plans to spend five years transforming a 121.7-acre agricultural site into the six-building East Indy Exchange.
U.S. retail sales fall for third straight month
Some retailers have already indicated that they had an unhappy holiday season. Department store chain Nordstrom, lingerie seller Victoria’s Secret and clothing retailer Urban Outfitters all said sales fell during the holidays.
Chicago-style pizza chain Lou Malnati’s confirms 86th Street location
The 86th Street location, the chain’s second Indianapolis-area store, is set to open this spring. Lou Malnati’s confirmed the location last year but until now had not specified when it planned to open.
Petco goes public again as spending on dogs, cats soars
It’s the third time Petco has gone public since it was founded in 1965 as a mail-order veterinary supplies business. Both times Petco was bought and taken private, most recently in 2006.
Christopher & Banks files bankruptcy, closing stores
The publicly traded chain said in a statement that it expects to close “a significant portion, if not all” of its 449 physical stores. The retailer has three stores in the Indianapolis area.
Speedway lands Aldi store for Founders Square development
Fishers-based Rebar Development on Wednesday said Aldi will occupy 20,400 square feet of newly built space in the project under construction near Interstate 465 at the northwest corner of Crawfordsville and High School roads.
Mortgage rates poised to rise as U.S. Treasury yields surge
Long-term bond yields, which can influence interest rates on mortgages and other consumer loans, are climbing this month amid expectations of higher U.S. government spending on pandemic relief and an economy recovery as more people get vaccinated for COVID-19.
Crumbl Cookies chain to open first Indiana store in Fishers
The Fishers shop opens this week, to be followed later this year by locations in Indianapolis, Greenwood, Carmel and Zionsville.
Noblesville council pledges $10 million TIF bond to East Bank apartment complex
Toledo-based Republic Development Corp. and Carmel-based J.C. Hart Co. plan to build a 219-unit apartment complex, a 295-space parking garage and 5,295 square feet of first-floor retail in Noblesville’s downtown, on the east bank of the White River.
Developer proposes 75-acre business park along State Road 37 in Noblesville
Westfield-based Patch Development is planning to turn 75 acres of farmland along State Road 37, north of 146th Street, into a new business park. City officials will consider a $6.7 million bond to support the project, in the hopes that it brings more than 500 jobs to the city.
Carmel-based Java House opening Broad Ripple coffee bar, brewing big Indy expansion
This will be the third location for Java House, a cold-brew coffee shop chain based on products originally developed by Carmel-based Heartland Food Products Group, best known for Splenda.
Local developer plans $16M apartment project along Monon Trail
Called Monon 46, the 102-unit complex is expected to be comprised of three apartment buildings, including two directly along the trail south of Broad Ripple.
Developers pitch several big real estate projects in Westfield
The Westfield City Council heard presentations Monday night for a 60-acre mixed-used development, a 9.5-acre residential project and a neighborhood expansion. It also approved a new assistance program for first responders and veterans.
Staples seeks to buy Office Depot parent in $2.1 billion deal
Staples previously tried to buy Office Depot, but the $6.3 billion acquisition was called off in 2016 amid antitrust scrutiny.
Broad Ripple institution Johnny’s Market closes for good
The owner of the 45-year-old mainstay recently informed its landlord that it didn’t want to renew its lease, which expired in December.
Culver’s franchisee plans up to 10 more restaurants, new Noblesville HQ
Jeff Meyer is turning the former Boys & Girls Club at 1700 Conner St. into his company’s headquarters. And he plans to keep things rolling by opening another eight to 10 stores by the end of 2023.
Genezen Labs pumps up plan for Fishers facility after private-equity investment
Genezen Laboratories Inc. says new funding from a Massachusetts-based private equity firm will allow it to expand its plans for a new production facility in Fishers Crosspoint Business Park.
Shake Shack to move into former Tesla spot at Fashion Mall
This will be the fourth Indianapolis-area location for the fast-casual burger chain, though none have yet opened.