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Kite Realty goes on defensive: Local developer says stock sale should help it through tough times

Expecting a rocky 2009, locally based Kite Realty Group Trust sold nearly 5 million new shares in October to quickly raise almost $48 million in cash. The retail real estate investment trust saw its stock price tumble after the $10.55-per-share offering, from a close of $11.19 the day (Oct. 2) it announced the sale to $7.44 by Oct. 10. The deal dilutes existing shareholders, but company officials say it puts Kite in a stronger cash position to pay down debt…

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VOICES FROM THE INDUSTRY: Property tax reform will change development landscape

As the country faces the “subprime crisis” and its effect on the availability of financing, we know local real estate markets have seen brighter days. Fortunately, we also know this crisis will pass. If you are a real estate developer or land-use professional, there will be many opportunities ahead. However, it is important to consider that the regulatory landscape in Indiana relative to land-use development will not be the same as the one you knew prior to the current market….

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Surviving the season: Retail landlords worry that tight holiday budgets could doom some retailers

Retailers usually get that Christmas-morning feeling of anticipation for the holiday shopping season. This year, many are just hoping to survive. As consumers tighten their spending to cope with higher prices and shrinking savings, stores big and small are feeling the pinch. Some stores, including Linens ‘n Things, have filed for bankruptcy and plan to liquidate. Others, like Circuit City, still are fighting for survival. The holiday shopping season is looking more like a make-or-break period than the annual windfall-an…

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Ousted mayor guides local up-and-comers: Peterson named moderator for prestigious group

Voters decided last Election Day that they’d had enough of Bart Peterson, but the former mayor is in demand with academics, a think tank, and now the city’s premier leadership network. Peterson is moderator of the Stanley K. Lacy Executive Leadership Series, which introduces “emerging leaders” to Indianapolis and its problems. “It’s something I never went through as a class member. I’ve always envied those who did,” Peterson said of the series, which accepts just 25 applicants each year. “It’s…

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For funding, developers may need to think outside box: Amid tight credit markets, getting a project built often takes alternative financing sources, creative approaches

Although the spigot of bank financing has slowed to a trickle, money to fund commercial development projects remains available from alternative sources. Just ask David Amick, executive director of Premier Capital Corp., a local lender that uses federal funds to help finance expansions. “We’ve got money to lend,” he said. “I’ve got that [message] hung on the door.” The fragile credit markets have nearly diminished the ability of companies to borrow. But lenders such as Amick insist the money is…

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Incentives for Buckingham HQ?

The city is taking a second look at a tax abatement request for the historic Stokely-Van Camp building at 941 N. Meridian St. Developer Buckingham…

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Former rocker rolling along in pizza business: Puccini’s founder has 13 locations and counting

For much of his adult life, Don Main was a rocker rather than a restaurateur. But fate-along with a pressing need to find a more profitable line of work-drove him to seek his fortune in a kitchen rather than onstage. Main, president and co-owner of Puccini’s Smiling Teeth, began his peculiar career change back in 1990, after a decadeand-a-half stint as a professional-but not very well-paid-musician. At age 36, the bassist and lead vocalist for the band The Late Show…

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Sears departure stings mall

The decision by Sears Holding Co. to close its store at Lafayette Square Mall could deal a serious blow to efforts by a New York…

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Like a new skyscraper

The new curtain wall is almost done on the north and south faces of One Indiana Square. What do you think so far? (IBJ Photo/Robin Jerstad)
…

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BEHIND THE NEWS: Opportunities start to arise for steely nerved investors

“Be fearful when others are greedy and greedy only when others are fearful.” This philosophy, which Warren Buffett espoused to a group of Columbia University students when he was just 21, has served the billionaire investor well. And it may serve you well as you navigate the ugliest stock market in three decades. To be sure, the thrashing that stocks in Indiana and across the globe have weathered in recent weeks has been nearly across the board-savaging the shares of…

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Real estate agents struggling from trickling home sales

The downturn in the housing market isn’t tough just on people trying to sell their homes. It’s also tough on the people
who want to help those people sell their homes–real estate agents. Locally, their ranks have thinned as
more and more leave the field to search for better prospects.

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Another D’vine move; Siam Square

A popular northside wine bar will close at the end of October to move to a smaller space behind Castleton Square Mall. D’vine a wine bar moved from Woodfield Crossing…

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Wings at last

The new Buffalo Wild Wings is on schedule to open on Oct. 19. They’re still waiting on “window boxes” that will feature artwork in the three windows on the left. Otherwise, do you like the new, toned-down look? (IBJ photo/Robin…

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Hot Shotz takes over Bennigan’s

A closed Bennigan’s restaurant in Fishers is now home to Hot Shotz. The local restaurant’s previous location, near 96th Street and Gray Road, was destroyed in a fire on June 28. The new…

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Credit mess puts Ralston on hold

A $60 million project slated for South Street between Meridian and Pennsylvania streets is on hold until credit markets return to some semblance of normal, the developer…

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Around town retail roundup

Loads of retail news to report today:
UPDATE: The Taste of Tango restaurant may be back on track. A sign on the door says the restaurant is “coming soon” and “now hiring.” Old…

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Cheering up the real estate crowd

Imagine being asked to speak to a crowd hit by the biggest downturn in its industry in decades, and motivate
them to get back out there and keep selling. Or try to sell.

Thatâ??s what Dan Lappin faces when he speaks…

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M&I sign appears atop skyscraper

The first of four M&I Bank signs has finally taken its place atop the former First Indiana Plaza. Workers were installing one of the signs…

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Advisers get more bullish on ETF option: SEC decision may lead to widespread appeal of mutual-fund alternative

ETFs have been available in the United States since 1993 and are an alternative to mutual funds that trade just like stocks. But a decision earlier this year from the U.S. Securities and Exchange Commission could broaden their appeal even more. An ETF is a “basket” of stocks that by itself trades on an exchange just like an individual stock. ETFs contain the assets of large or small companies, real estate investment trusts, international stocks, bonds and even gold. For…

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