Indiana Finance Authority takes action against I-69 developer
The Indiana Finance Authority has taken action against the private developer of a 21-mile section of the Interstate 69 extension for failing to pay for work done on the project.
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Cabinet designer razes Westfield Boulevard building for new studio
A local custom cabinetry designer bought the building on Westfield Boulevard near East 75th Street last year and finished tearing it down late last month.
Simon Property-led group wins bid to keep teen retailer alive
A consortium led by Indianapolis-based mall giant Simon Property Group Inc. and rival General Growth Properties Inc. has won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores.
EPA to brief Indianapolis residents on lead cleanup project
A federal agency that's preparing to clean up lead-tainted soil around dozens of Indianapolis homes will brief residents on the project next week.
Chain restaurants feeling sales squeeze
Diners are choosing among more options—and often favoring independent restaurants to chains.
Stock swoons at Lids’ parent after company cuts outlook
Shares in Genesco Inc.—parent of Zionsville-based Lids Sports Group—dropped almost 30 percent Thursday after the company reported lower-than-expected sales in the second quarter and downgraded its full-year outlook.
Downtown roundup: New eatery taking R bistro spot; Rebar, Salt and Jack’s open
Rooster’s Kitchen, featuring bacon-laden comfort food, hopes to open in October in the perch where a longtime Mass Ave favorite once operated.
Gun store argues no liability for straw sale linked to officer’s shooting
Lawyers for an Indianapolis gun store sued for making an illegal straw sale of a firearm that was used to shoot an Indianapolis police officer argued Wednesday that Indiana gun sellers are shielded from civil lawsuits even when they break the law.
Simon part of group trying to save at least 229 Aeropostale stores
Without the rescue, it appears the teen fashion retailer’s remaining stores are heading for liquidation, an event that will put about 10,000 people out of work. Aeropostale has five Indianapolis-area stores.
IPL targets 25 city locations for new streetlights
Indianapolis plans to install another 25 streetlights by the end of the year, continuing Mayor Joe Hogsett’s push to light up neighborhoods with higher accident and crime rates.
Humble medical office buildings selling for kingly sums
The latest local example of the sizzling market is the three-story Community Health Pavilion, which sold last week for $286 a square foot—far more than the per-square-foot price in two recent office complex transactions.
U.S. home prices rise in June but at tentative pace
Nationwide prices are increasing more quickly than incomes as buyers compete for the dwindling supply of available homes. The ongoing imbalance in the housing market could stifle sales in coming months.
Butler debuts $43M dorm, prepares to demolish another
The work is all part of a long-term university plan that includes more than $130 million in new construction.
Two downtown office towers change hands in $417M acquisition
The four-building acquisition by Hertz Investment Group includes the tallest office tower in Indiana and the fourth-largest office complex in downtown Indianapolis.
Bank bucks trend by opening teller-less branch in grocery
Some banks have been closing their mini-branches in stores, but PNC Financial Services is applying the trend toward automated transactions to its new location in Carmel’s Market District Supermarket.
J.C. Penney aims to be king of the mall as rivals retreat
J.C. Penney Co. is in a surprising position more than four years after it was almost run aground by a former CEO: It could be the last department store standing at your local mall.
Residential Real Estate: Marketplace
Home sales are up 3 percent. Get the stats for the region, plus see what you can buy for $900,000 and what home sold for the most in the past three months.
Monarch affiliate gets big win in effort to sell liquor
The court decision found the Indiana Alcohol and Tobacco Commission was “arbitrary and capricious” in its 2014 decision to deny the wholesale liquor permit application of Spirited Sales, an affiliate of Monarch Beverage Co. It also takes the Pence and Daniels gubernatorial administrations to task for intervening in the case.
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2015 All-Star Real Estate Agents
For the first time in almost a decade, there’s a new group at No. 1 in the IBJ All-Star team ranking: Dennis Nottingham’s Indy Home Pros Team. Meanwhile, there’s a familiar name atop the list of solo agents.
Struggling Sears borrows $300M from hedge fund as losses mount
Sears Holdings Corp., which operates about 80 stores in Indiana, is once again lining up financing after losing more than $9 billion in recent years.