CVS Caremark to stop selling tobacco products
The nation's second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost it about $2 billion in annual revenue.
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Developer plans Lockerbie residential project
Chase Development plans to build six, four-story townhomes along with six more traditional houses on a 1.25-acre parcel between Michigan and North streets.
Ossip to move HQ, open flagship store in Fishers
Ossip Optometry plans to open a flagship store in a funky building off 96th Street in Fishers, just around the corner from where it’s putting its new headquarters.
Bill to free $400M for highways passed by House
House Bill 1002 transfers the balance of the Major Moves 2020 Trust Fund to the state highway fund before July 1, 2015. The legislation received support from both parties and passed 91-2.
Deadline nears for saving Anderson’s Wigwam gym
School officials say a plan is needed to pay ongoing costs at Anderson's iconic Wigwam gymnasium while a group trying to save the building faces a deadline to hold off its demolition.
City committee again delays vote on MSA tower’s financing
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins’ proposed $81 million high-rise project on the former Market Square Arena site.
Airport site identified as ‘preferred’ for criminal-justice complex
An airport location and the former GM metal-stamping property near downtown are the top two sites listed for a Marion County jails-courts complex in a market survey of 14 potential sites conducted for the city by real estate services firm CBRE.
Indiana plans $75M push to demolish abandoned homes
Lt. Gov. Sue Ellspermann announced the initiative Monday at the Statehouse. She said knocking down blighted and abandoned homes will help maintain property values and cut down on crime.
Longtime Simon Property CFO stepping down
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world’s largest mall developer.
Simon purchases Long Island land from rival Taubman
Simon also purchased the company’s 50-percent stake in Arizona Mills Taubman received $230 million in Simon Property shares and $60 million in cash for the two transactions.
Champps restaurants likely to survive parent’s bankruptcy
The bankruptcy of a Kansas restaurant company has cast uncertainty over the future of its five Indianapolis-area restaurants—three Chammps Americanas and two Fox and Hounds.
New Canterbury owner begins renovating upscale hotel
Once the work is finished in about nine months, the Canterbury, which will be rebranded as a Le Meridien, should be able to better compete with other upscale downtown hotels, a consultant said.
Simon posts strong quarter as mall occupancy strengthens
Occupancy in Simon’s malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
Developer planning Sophia Square sequel near Meridian Street
The developer behind the $60 million Sophia Square building in Carmel’s Arts & Design District is proposing a similar project about a mile west.
Leadership change afoot at Summit Realty
Bill Ehret, one of the firm's co-founders, relinquished his title as co-managing partner to Brian Zurawski, who joins Matt Langfeldt in leading the firm.
Speedway stores cited for beer sales on Christmas
Indiana State Excise Police have cited 109 Speedway convenience stores in Indiana, accusing them of illegally selling beer on Christmas.
Weak sales lead HHGregg to post smaller profit
Shares of the Indianapolis-based retailer had fallen 18 percent by early afternoon Thursday, after the firm reported slumping sales and profit in its latest quarter.
Preservation tax credit gets makeover in House bill
The Indiana House is set to consider legislation that would shift the state’s historical preservation tax cut program into one that relies on grants instead.
Murphy’s Steakhouse moving, merging with Pat Flynn’s
A year-long Keystone Avenue bridge project slated to start next month has prompted the owner of the venerable north-side steakhouse to relocate about a mile north and take over another restaurant space.
Developer pitching $17.5M project in downtown Fishers
Fishers’ Town Council is expected to vote Monday on a proposal that calls for the town to contribute property for the office-retail project and $6 million for its 330-space parking garage.