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.
Real Estate
Articles
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.
New owner for 14 West building targeting another restaurant
A recently retired CEO bought the historic building at 14 W. Maryland St. After renovations, he hopes to attract a national chain to the space.
Court bars Indianapolis’ hour limits on adult bookstores
The 7th Circuit Court of Appeals in Chicago has tossed an Indianapolis ordinance limiting the business hours of adult bookstores from 10 a.m. to midnight Monday through Saturday.
Former Indy Chamber leader joins Hagerman
Scott Miller, who stepped down May 31 as president of the Indy Chamber, has been hired as president of The Hagerman Group, one of the state’s largest construction contractors.
Hawthorns Golf Club in Fishers files for bankruptcy
The move comes after a lender filed a $4.8 million foreclosure lawsuit on the club and asked a Hamilton County court to appoint a receiver.
Fairgrounds Coliseum project ahead of schedule
Indiana State Fair officials are expecting to open the renovated Fairgrounds Coliseum in April, three months ahead of schedule.
Developer ready to start northeast-side grocery project
The redevelopment of a nearly vacant shopping center at 56th Street and Emerson Avenue will include a Wal-Mart Neighborhood Market and 15,000 square feet of small-shop retail space.
Westfield center brings nearly $3.6M
Marcus & Millichap listed the property at 701 E. Main St., which brought nearly $3.6 million, or 95 percent of the asking price.