Two Indianapolis office buildings in foreclosure
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
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Kite Realty reports higher revenue, bigger loss
Kite Realty Group Trust Inc. reported higher revenue and a bigger loss during its fiscal third quarter, a busy period during which the company raised $60 million from a share offering and bought one Florida shopping center and sold another.
HHGregg adds furniture, exercise gear as TV sales fall
HHGregg Inc. is looking for ways to boost sales at its 224 stores in coming months as the homegrown company fights to offset a huge drop in TV sales. The retailer reported a big decline in quarterly revenue Friday, but its shares soared nearly 19 percent.
Dry cleaners moving to ‘perc’ alternatives
One of the region’s largest dry cleaning companies recently washed its hands of perchloroethylene, the dry cleaning chemical at the heart of about 170 cleaner site cleanups statewide.
City bans bulk land-bank sales after lopsided deal with not-for-profit
Indianapolis last year sold 154 properties from its land bank for $1,000 each to a novice not-for-profit, which immediately flipped them for a total $500,000 profit. More than a dozen have changed hands multiple times since then, making investors more than $1 million. (with interactive map)
Dry cleaners’ solvents taint Martinsville’s water
The U.S. Environmental Protection Agency recently proposed placing the city of Martinsville on its Superfund priority list, citing groundwater contamination traced to several former dry cleaning shops in the heart of town.
Settlement talks afoot in Mel Simon estate brawl
Attorneys for Mel’s daughter Deborah asked a Hamilton County judge to put discovery deadlines on hold and vacate the July 2013 trial date while the parties negotiate a “memorandum of understanding.”
Lids buying 12 stores from Florida-based Fanatics chain
The purchase includes nine FansEdge locations in the Chicago area and one in Oklahoma, in addition to two Football Fanatics stores in Jacksonville, Fla.
Duke loss narrows, quarter meets expectations
Indianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32 million in the same quarter of 2011.
PulteGroup plans new neighborhood in Anson
PulteGroup Inc. has purchased 24 acres in the Anson development near Whitestown in Boone County and plans to build 36 homes. Long-range plans call for 255 homes on 145 acres.
Deylen offers another vision for Mass Ave redevelopment
A little post-Halloween candy for Property Lines readers: Check out the renderings of an unsuccessful Mass Ave redevelopment proposal from locally based Deylen Development.
St. Elmo to be featured on cable television show
“Drinking Made Easy” traveled to Indianapolis to sample several of the city’s hotspots and their cocktails. The episode airs Wednesday night on cable network AXS TV.
Roundup: Einstein, Lush, Olive Garden, First Watch
Leading off the latest restaurant and retail roundup: A couple of national chains including Olive Garden and Ulta Beauty are expanding in central Indiana and a couple of others including Einstein Bros. Bagels and Goodwill are moving.
Simon says Sandy caused minimal damage to shopping centers
A company spokesman said damage was minor at Simon’s malls and outlet centers in New York and other areas hit by the storm.
INSIDE DISH: Carmel eatery unafraid to break a few eggs, rules
Restaurateur Larry Hanes stuck to his guns in creating Eggshell Bistro, bending conventions with eclectic decor, artisanal coffees, and a simple menu with restrained portions.
LA Fitness buys site near Washington Square, boosting area
LA Fitness plans to build a gym on the former home of a Loews movie theater adjacent to Washington Square Mall in the latest sign of progress for a struggling retail submarket.
State may revoke accused liquor license speculator’s permit
The Indiana Alcohol & Tobacco Commission says Slobodan Lakich bought a license last year for $9,000, then tried to flip it for $30,000.
Broncos’ Manning to own 21 Papa John’s pizza franchises
Peyton Manning will be introduced as the company’s newest franchisee in the Denver area during a television spot with Papa John’s Chief Executive John Schnatter on Sunday during the telecast of NBC’s “Football Night in America.”
Developer gets OK for second phase of apartment project
Trinitas Ventures of West Lafayette plans to break ground next spring on a $20 million student housing project on Indiana Avenue with 214 units. The developer already has built 253 units on the site.
At Home Quarterly: Housing marketplace stats
A look at housing sales, mortgage rates and home ownership trends. Also included are the most expensive home sold during the third quarter and examples of what $300,000 can buy.