Simon exploring bid to purchase rival General Growth
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than
200 regional malls in 44 states.
Real Estate
Articles
Locals expect few bright spots in 2010
Senior real estate executives remain pessimistic about the prospects for the Indiana market in 2010, although they see signs
of improvement in the investment and residential sectors. That’s according to a survey of leaders of the local real
estate community that the Urban Land Institute plans to unveil Thursday.
Failed jewelry retailer to sell millions in inventory
An old-line Indianapolis jewelry business has shut down, setting the stage for the sale of millions of dollars in remaining
inventory through auctions planned in Indianapolis, Chicago, Miami and Naples, Fla.
October retail sales rise slightly, beat predictions
Retail sales rose more than expected in October due largely to a big rebound in auto sales. But broader consumer spending
remains under pressure.
Rich buying again, but middle class still hurting
Recent earnings reports from major retailers suggest that the wealthy, who pulled back their spending the hardest during the
financial meltdown last fall, are once again being enticed to open their wallets and going back to higher-end outlets. But
those on the lower economic rungs are still scrimping by, heading to Walmart for the basics.
City Market gets OK to evict anchor Constantino’s
The cash-strapped, half-vacant City Market is playing legal hardball with five current or former tenants that are behind
on rent, a move that’s led to the imminent eviction of Constantino’s Market Place.
Teachers’ pension fund poised to buy downtown building from Duke
The Indiana State Teachers’ Retirement Fund is negotiating to buy a 12-story office building across from the
Statehouse in what could be the year’s largest downtown office transaction.
Retailers surprisingly upbeat as they head into holidays
Those in the trenches say this won’t be a blockbuster Christmas, but it won’t be horrid, either.
Construction under way on downtown condo conversion
The Shelton, a five-story building on Delaware Street, is getting a $3 million makeover.
National, state foreclosure filings fall
Indiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5 percent from October 2008.
Reopening of Indianapolis monument delayed
Work to repair and renovate the Soldiers and Sailors Monument in downtown Indianapolis is taking longer than expected.
Construction begins on downtown condo project
Construction has finally begun on a condo conversion of an historic 5-story building known as The Shelton.
Duke Realty land auction nets $1M; pricier properties go unsold
Locally based Duke Realty Corp. netted more than $1 million during a Tuesday auction of surplus development parcels in Indianapolis,
Fishers, Plainfield and Lebanon.
Local man gets 37 months in mortgage-fraud scheme
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
Holding steady on Wawasee
Lake Wawasee, the popular northern Indiana getaway for some of the wealthiest people in the Indianapolis area, is doing fairly
well despite the real estate bust.
Bush Stadium is now a dumping ground for clunkers
An auto salvage company is paying the city $2,000 per month to use the outfield of Bush Stadium to store vehicles collected
under the Cash for Clunkers program.
Tax credit helps boost area home sales 20 percent
A federal tax credit that benefits first-time homebuyers is helping to bring home sales in the nine-county Indianapolis area
out of their funk.
Old Indianapolis baseball stadium now a junk yard
A salvage company is leasing the Bush Stadium field from the city parks department to store vehicles it collected in the federal
Cash for Clunkers program.
Noble Roman’s reports profit despite lower revenue
Indianapolis-based Noble Roman’s Inc. said late Monday that it posted a third-quarter profit of $459,535, or 2 cents per share—a 44-percent improvement over the same period last year. But revenue for the quarter fell to $1.9 million, from $2.2 million in 2008.
Duke Realty’s chief operating officer resigns
Indianapolis-based Duke Realty Corp. announced Monday that its chief operating officer will leave the company at the end of
the year.