The Indianapolis-based retailer plans to take a pretax charge of as much as $36 million in connection with the sale of the money-losing business to a Los Angeles-based investment firm.
The retailer took a whopping loss of $58.3 million in the quarter, more than double the loss of $26.9 million it took in the third quarter of the previous year.
A Chicago-based chain is taking a crack at the street-level space in Salesforce Tower previously occupied by Paradise Bakery & Cafe.
Duke Realty Corp. on Wednesday reported funds from operations and profit in the fourth quarter that surpassed Wall Street expectations.
The properties, in Carmel and Zionsville, had been owned by the late Dr. John Norman Pittman and were sold in three separate transactions.
Closed sales in the 13-county area have risen every month on a year-over-year basis since October 2015.
Called Tapestry, the brand is designed to jump on the bandwagon for individualized and upscale hotels with distinctive local features.
Gershman Partners had hoped to start construction late last year, but the mayor of Greenwood says large retailers have been slow to commit to the project, causing the delay.
Jennifer Green, an agency veteran who previously led the city’s efforts to develop Fall Creek Place, is the new president of Insight Development Corp.
The department store’s lease had been due to expire next January. If it had pulled out, the downtown mall would have been left with no anchors.
Mayor Joe Hogsett said the award of the New Markets Tax Credits will provide gap financing for "developments designed to jump-start economic development, create jobs in at-risk areas and revitalize distressed neighborhoods.”
The city of Carmel’s huge investment of public dollars into its central core has paid off when it comes to generating economic activity, jobs and additional investment in the area, according to a new study by the IU Public Policy Institute.
Main Event Entertainment hopes to open in the Lake Clearwater area by the end of February. And nearby, J. Crew Mercantile is coming to the Rivers Edge Shopping Center.
Eight bills have been submitted this legislative session to reform the state's civil forfeiture law.
Opposition is growing to the city of Carmel’s order that homeowners remove their properties from Airbnb listings.
Indianapolis International Airport wants to bring in more local vendors as contracts with some current concessionaires expire, and add other features to better reflect the character of the city.
Through November, downtown Indianapolis hotels saw their revenue increase 8 percent over the same period a year ago, far ahead of the national average of 4.9 percent.
The 100,000-square-foot building on Keystone Avenue once served as the headquarters for the landscape firm Mainscape Inc.
The company's shares took a dramatic tumble on Jan. 9, after it reported disastrous preliminary sales figures for the quarter ended Dec. 31.
The latest design plan, from Rundell Ernstberger Associates, is ready more than two years after a more expensive version was selected and ultimately scrapped due to its cost.
