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.
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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.
Developer says Broad Ripple hotel will have ‘green’ elements
Developer Debra Stolen Hasbrook found the site at 6520 Westfield Boulevard while running on the Monon Trail.
Foreclosed-property care sparks fight over who’s responsible
Lawmakers might address in the upcoming legislative session the controversy over who is responsible for upkeep on foreclosed properties.
St. Francis Hospital project targets Greenwood’s growth
The $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000 to 2009.
Simon Property offers to settle dispute over widow’s stake
Simon Property Group Inc. has offered to settle a lawsuit with Bren Simon by cashing out 6.5 million partnership units her late husband Melvin held in the giant shopping mall developer.
UPDATE: City Market has tentative deal with longtime tenant
City Market operators have reached a tentative deal to settle a dispute with Grecian Garden’s owners after alleging the eatery was late on its rent payments for several months. Details of the agreement were not disclosed.