Simon profit jumps on improving occupancy, rents
The company reported a 20-percent increase in profit in the second quarter as occupancy in its malls climbed to 96.5 percent, prompting Simon to raise its guidance.
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Kite Realty to engineer 1-for-4 reverse stock split
The move will hike the real estate firm’s stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.
UPDATE: Lowe’s to invest $20.5M in customer-service center
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
Downtown roundup: BL&T, Mo’s, Starbucks and Pattern
A new restaurant is set to take space at 1 N. Meridian St., Mo’s is reopening and a popular Starbucks location is temporarily closed for remodeling.
Area home-construction permit filings tick up
Filings in the nine-county metro area have shown slight year-over-year improvement in four of this year’s six months.
Interactive Intelligence set to break ground on $12.5M building
The 119,000-square-foot structure will be built next to the software developer’s headquarters on the northwest side as part of its growth plans to add 430 employees within the next few years.
Judge blocks ordinance aimed at I-69 work noise
Marion County Judge David Dreyer issued a temporary injunction Monday blocking a Monroe County ordinance that limited noise on the project between 10 p.m. and 6 a.m.
Well-known east-side Mexican eatery closes
El Sol de Tala, a staple on East Washington Street for several decades, shut its doors earlier this month amid a court dispute between the restaurant's owner and his landlord.
Developer seeks $11.5M subsidy for Carmel project
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it’s planning.
Clock ticks on Wigwam’s fate
Anderson officials say the city will take ownership of the iconic gym, but only if it has a binding agreement by Sept. 2 with a group to reopen the Wigwam.
It’s official: Yard House coming to Circle Centre
The Orlando-based, beer-themed chain finally has sealed a deal to take 13,460 square feet at 42 W. Maryland St. in part of the space formerly occupied by Nordstrom.
Plane piloted by Simon exec made ‘popping’ noise before crash
A preliminary report by the National Transportation Safety Board quotes two witnesses as saying they saw the airplane trailing blue smoke during its takeoff and described the sound of the engine as "popping" or misfiring.
Spec distribution center fully leased in Anson
A joint venture between developers Browning Investments Inc. and Duke Realty Corp. announced July 15 that Chattanoogo Tenn.-based Kenco, a third-party logistics provider, has taken the remaining 257,000 square feet.
Kite CEO ‘not afraid to continue to grow’
In an interview with IBJ, Kite Realty Group Trust CEO John Kite discusses the $1.2 billion acquisition of Illinois-based Inland Diversified Real Estate Trust, potential redevelopment of Pan Am Plaza and its hopes to keep a branch of the Indianapolis-Marion County Public Library at Glendale Town Center.
State to scope downtown block for new offices, parking
The Office of Management and Budget will study a state-owned parcel just north of the Statehouse, potentially to house the judiciary and provide more legislative office space.
HHGregg ready to dust off, ramp up Fine Lines concept
HHGregg's high-end-appliance Fine Lines stores are shifting into the spotlight as the struggling retailer looks for ways to offset declining consumer electronics sales.
U.S. home construction drops 9.3 percent in June
U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year.
Roundup: More craft-beer pubs on tap for August
TwoDeep Brewing and HopCat set to enter the craft beer scene; a third Pizzology opening; and a retail tenant coming to Ironworks at Keystone Avenue and East 86th Street.
Cummins to pick from New York firms to design downtown offices
Cummins Inc. plans to pick a proposal from one of three New York-based architecture firms vying to design its global distribution headquarters downtown.
New downtown concert venue to seat 15,000
A music amphitheater soon will take center stage on the site of the former General Motors metal-stamping plant on the western edge of downtown, sources tell IBJ.