Two projects on tap for Near-North area
One is an affordable senior-housing complex on North Illinois Street and the other is a small mixed-use development on North Meridian Street that could house a medical clinic.
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Former Mayor Peterson joins Kite Realty board
The former two-time mayor is better known for politics and public policy, but he spent many of his early years working in his family’s commercial real estate company.
Uptown Business Center headed to sheriff’s sale
The building in SoBro is at the center of a lengthy court feud in which the owner had attempted to delay foreclosure by filing to reorganize assets—a strategy that a bankruptcy judge rejected last month.
Homebuilders end 15-month streak of permit increases
The central Indiana home construction industry reversed course in October, with a rare year-over-year decrease in the number of single-family building permits filed. The drop follows a recent downward trend.
New roof to help stabilize historic Indy theater
The building, at 3155 E. 10th Street, has been vacant since 1992 and is in an advanced state of disrepair. But a new roof will stabilize it, staving off further deterioration, backers hope.
Noble Roman’s sees rising profit, revenue
The company said it has entered into agreements to open 45 stand-alone take-n-bake pizza locations.
Chocolate artisan sets sights on Carmel
Shelbyville-based Chocolate for the Spirit is opening a retail storefront in Carmel in time for the holiday shopping season.
Former Marsh exec joins local Colliers office
Former Marsh Supermarkets Inc. executive Bill Marsh has joined the Indianapolis office of Colliers International as vice president of retail services.
Proposed GM plan reserves space for soccer stadium
One of the players vying to redevelop the former General Motors metal-stamping plant has set aside room in his plans for a roughly 10,000-seat stadium where his own North American Soccer League franchise could play.
U.S. economic growth perks up in third quarter
The U.S. economy expanded at a 2.8-percent annual rate from July through September, a surprising acceleration ahead of the 16-day partial government shutdown.
Buggs Temple doesn’t stay empty for long
One of the city’s largest caterers, Thomas Caterers of Distinction Inc., has agreed to lease both levels while it pursues a purchase of the two-story building, the owner of the company said.
Kite Realty to pay $307M for 9 retail properties
The Indianapolis-based real estate firm said the properties total 2 million square feet and are mostly located in Florida, Georgia and Texas. The acquisition would bump the size and value of Kite’s portfolio by about 20 percent.
Buggs Temple tenants close their doors
Creation Cafe and Euphoria Events closed Tuesday, after the owners said they couldn’t come to terms on a new lease.
Former Simon exec pleads guilty to fraud in kickback scheme
Carmel resident Mark Palombaro, 55, likely faces prison time after admitting to his role in a scheme that prosecutors say netted him $766,000.
Roundup: Soup joint, Ethiopian eats and relocations
Soupremacy is set to take space just off Monument Circle vacated by Teapots n Treasures, which moved a couple of blocks away, while Ambrosia settles into new digs in Broad Ripple.
Local developer plans six-story office building in Castleton
Edgeworth Laskey Properties LLC, which has developed three buildings within Allison Pointe Park, bought the 10.5-acre parcel along Interstate 465 from a suburban Chicago company.
Summit partners seek tax break for $14M distribution facility
They plan to spend $14 million to build the 542,000-square-foot warehouse on 33 acres on the city’s west side. One condition of the tax abatement is finding a user that would create at least 50 jobs by 2018.
Startup bakery seeking tax breaks on $78M project
Dallas-based Specialty Bakery LLC plans to build a 226,778-square-foot production and distribution facility in southwest Indianapolis that would create 241 jobs by 2018.
Judge sentences attorney Page to probation, fine
Attorney and real estate developer Paul J. Page will serve two years of probation and pay a $10,000 fine for concealing the source of a $362,000 down payment on his purchase of a state-leased office building in Elkhart.
Discount retailers, grocers await impact of food-stamp cut
With an estimated 8 percent of shoppers using food stamps, the impact will probably be felt most acutely by discount retailers such as Dollar General Corp., Family Dollar Stores Inc. and Wal-Mart Stores, analysts say.