Architect finds new path as real estate struggles
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned
firm with 120 architects.
Real Estate
Articles
General Growth hearing delayed to weigh bids
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
Scaled back renovation project begins at Penn Arts
Renovation work finally has begun on the Penn Arts building at 16th and Pennsylvania streets.
Franklin residents still struggle with solution for flooded land
Crews will begin in late April demolishing the first of 74 homes south of downtown Franklin damaged by massive flooding in
June 2008. Officials still haven’t decided how to reuse the land, and residents are torn.
Group hopes to save former home of Crawford’s Bakery
Efforts to save the former home of Crawford's Bakery at 16th Street and Capitol Avenue appear to be gaining momentum.
INSIDE DISH: Mug-n-Bun rides on 50-year formula
IBJ's new video feature on restaurateurs tries curbside
service at Speedway's Mug-n-Bun, unchanged in concept since the 1960s but now sporting subtle tweaks.
New home sales likely rose in March
The Commerce Department's report on new home sales Friday is forecast to show a 7.1 percent increase to a seasonally adjusted
annual rate of 330,000, according to economists polled by Thomson Reuters. That's up from an all-time low of 308,000 in
February.
Politically connected broker’s deals raise conflict questions
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions
on the sale of surplus state properties. He also acted as a developer for public-sector
tenants—putting them into buildings owned by him or his associates.
With five new acquisitions, Skillman builds car-lot dynasty
Ray Skillman bought five car lots in the last 12 months from other dealers who have struggled during the recession. Skillman now ranks among the five largest dealers in the area, and his chain is poised
for even more growth.
A new real estate crisis could wreck recovery
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
Local firm’s Carolina development slides into bankruptcy
Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
Simon adds $1.1B to General Growth proposal
Simon Property Group Inc. added four backers to its proposal to help rival mall owner General Growth Properties Inc. emerge
from bankruptcy, increasing the plan’s total investment by $1.1 billion.
Many retail locations plagued by vacancies
Vacancy rates unseen in 20 years are hampering efforts by developers.
Carmel City Center gaining momentum
Thirteen years after Mayor Jim Brainard first described his vision for a new downtown along Range Line Road, Carmel City Center
is starting to look like a city.
Revised Mel Simon estate suit calls Bren ‘abusive’
Melvin Simon’s daughter Deborah is lashing out at her stepmother Bren in a new court filing, saying she was “mentally
and verbally abusive” toward the billionaire late in his life and kept him isolated from friends and family.
Santorini owner realizes ‘American Dream’ with national honor
Fountain Square eatery owner Taki Sawi is one of only three restaurant operators to receive an award given by National Restaurant
Association every two years.
Circle Centre arcade reopens under new ownership
Texas-based Tilt Family Entertainment acquires GameWorks chain, which closed last month, leaving gaping hole on fourth floor
of mall.
Simon’s General Growth plan ‘crazy,’ fund manager says
Bid to invest in General Growth Properties would give Simon too much control over its biggest competitor, said
fund manager Bruce Berkowitz, who’s backing a rival plan.
Marsh renews effort to sublease headquarters
Most of the 148,000-square-foot building just north and east of the 96th Street/Interstate 69 interchange is empty.
Higher-priced home sales on the rise
A total of 242 homes in the nine-county area sold for at least $250,000 last month, an increase of 23.5 percent from the same
time last year.