Simon Property cooperating With FTC on Prime Outlets inquiry
Some retail tenants of outlet malls are concerned about Simon gaining too much market power should its acquisition of Prime
Outlets be approved.
Real Estate
Articles
Simon Property earnings fall on debt-retirement expenditures
Funds from operations fell to $325.6 million, or 94 cents a share, from $476.8 million, or $1.61 a year earlier, the Indianapolis-based
shopping mall giant said Friday morning.
INSIDE DISH: Papa Roux pops after stumbling at the start
Art Bouvier fled his corporate IT gig to open a small Cajun place without
a business plan or prior restaurant experience. After a number of blunders, Papa Roux looks like it will pan out.
All Things Automotive aims for national reach, 20 stores by year-end
GM’s axing of its Saturn brand may fuel the nationwide emergence of an Indianapolis-based used-car franchisor. The first All
Things Automotive franchise will open this month in Fishers, at the former Saturn store owned by Lockhart Automotive Group.
Area reaches end of an era for church construction
The $16.5 million worship auditorium that Northview Church in Carmel opened last month may be the last major church-related
project completed in central Indiana for years. Although many projects were finished before the recession, churches, which
usually pay for much of construction in cash, struggled to collect pledges.
Work begins on Penn Arts apartment, retail project
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.
Duke Realty reports leasing at 5-year high
Duke Realty Corp. handled more leasing activity last quarter than it has in any first quarter in five years, the locally based
real estate
investment trust said on Wednesday.
Connector bridges gap between convention center and stadium
Designers of a walkway that connects the buildings are making the experience as attractive as possible in order to overcome
the psychological barrier of moving from one building to another.
Kroger fined over worker’s death at Franklin store
State regulators have issued a $17,000 fine against Kroger Co. over a warehouse accident that led to a worker’s death.
Blackstone may join General Growth plan, Simon says
Simon Property Group and Blackstone Group LP are in “ongoing discussions” for an investment in General Growth after the mall
operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
Central Indiana home sales up slightly in first quarter
Homes sold in the first three months of the year totaled 4,634, a 1-percent increase from the 4,593 in the
same period last year. However, total sales volume jumped 12 percent, to $637 million.
Homeowners need to re-file for Homestead tax break
The goal of the new law is to reduce tax fraud from Hoosiers who file for the Homestead deduction on more than one residence.
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.
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.