TJX closing South Bend facility, cutting 725 jobs
More than 700 workers will lose their jobs when an A.J. Wright distribution center in South Bend closes next year as part of as a national consolidation by parent TJX Cos.
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Simon’s options for Capital Shopping takeover dwindling
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
Steak n Shake’s annual profit sizzles
The Indianapolis-based restaurant chain grew pretax profit in fiscal 2010 to $37.7 million, a 331-percent increase compared with the previous fiscal year.
Longtime local Cadillac dealer loses fight to sell car
Tutwiler Cadillac, which has sold Cadillacs in the Indianapolis area for almost five decades, has lost its franchise despite a long battle with General Motors.
Area home sales continue downward spiral
Home-sale agreements in the nine-county central Indiana region dropped 17.5 percent in November compared to the same month a year ago, the seventh straight month that year-over-year home sales have slumped.
British mall owner rejects Simon financing plan
Capital Shopping Centres Group Plc, Britain’s biggest shopping-mall owner, rejected a financing plan that would have given potential suitor Simon Property Group Inc. a larger stake in the company.
TJX closing A.J. Wright brand, cutting 4,400 jobs
Indianapolis has four A.J. Wright stores that are slated for conversions rather than closures.
CB Richard Ellis names new managing director
The local office of the commercial real estate brokerage has named firm veteran John Merrill as its new managing director. He replaces David Reed, who left in late August.
Feds charge Marsh with unfair labor practices
The National Labor Relations Board filed a formal complaint after investigating charges that Marsh Supermarkets threatened and intimidated employees to discourage them from forming a union. The grocery chain also allegedly fired an employee for supporting the union.
$7.5M Fletcher Arts project gets back on track
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
Online ‘daily deals’ coupons transform local advertising
A big-dollar offer from Google for Groupon—the undisputed king of a U.S. daily deal industry already worth $2.5 billion a year—has emboldened an armada of coupon competitors looking to grab a piece of the fast-growing market.
Lender seeking to foreclose on northwest-side hotel
Colfin NW Funding LLC claims in a court filing that it is owed $6.4 million by the borrower that operates the Courtyard By Marriott Hotel Northwest under Indianapolis-based Schahet Hotels Inc.
Accounting change could have huge impact on real estate leasing
Proposal requires companies to book leases as assets, and stands to shift the momentum to purchases.
Summit Realty plans to grow into new headquarters
Summit Realty Group is building out a new headquarters in a historic downtown building as its principals embark on an aggressive growth plan for the privately held company.
Cosmopolitan apartment fire prompts lawsuit
The insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed the apartment project and damaged the not-for-profit’s adjacent headquarters.
Simon may drop interest in Capital Shopping Centres
Indianapolis-based Simon Property Group Inc. will end its interest in buying Capital Shopping Centres Group Plc if the U.K. company doesn’t provide information necessary to evaluate a bid.
Builders of faulty Indiana bridge face state-work ban
A committee has recommended that the state highway department stop hiring Gary-based Superior Construction Co. and Indianapolis-based bridge designer RQAW Corp. over a northwestern Indiana highway that has been closed because of safety concerns.
City Market tenant agrees to move to alternate space
Under a settlement, the Indianapolis City Market dropped its attempts to evict the Grecian Garden after the restaurant said it would relocate to accommodate a renovation.
Duke poised to buy South Florida portfolio
The purchase of the $500 million portfolio of industrial and office properties would continue Duke’s recent push into the South Florida market.
Groundbreaking nears for $7.5M Fletcher Arts project
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project called Fletcher Arts just west of the intersection of Virginia Avenue and East McCarty Street.