Both Disney Stores in Indiana among those chosen for closure
The company on Wednesday disclosed about 40 of the 60 stores that will cease operations. Among them is a store in Indianapolis.
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Simon strikes rent deal to keep Ann Taylor, Loft and Lane Bryant stores open
New York City-based RCS said the agreement Simon Property Group made with Premium Apparel LLC will keep all 235 stores in Simon malls open.
Brawny gym for serious weightlifters planned for big retail site on south side
Founded by a local bodybuilder, American Muscle Factory is expected to open in August in a long-vacant, 23,000-square-foot retail space in the Greenwood Place shopping center.
$16M apartment project planned for former Angie’s List campus
Jeremy Stephenson, who started 1820 Ventures a year ago after leaving Indianapolis-based apartment developer Milhaus, intends to develop the 103-unit project near the middle of the Elevator Hill campus.
Booming furniture sales mean ‘unprecedented’ delays for sofas, desks
Across the country, furniture retailers are reporting months-long delays in every step of the supply chain—from overwhelmed factories to clogged ports—amid surging demand for desks, chairs and sofas.
Owner of Carmel’s Clay Terrace preparing bankruptcy filing, report says
Washington Prime Group skipped a $23 million interest payment on its debt in February, and its negotiations with lenders reportedly are faltering.
Former Stutz owner plans redevelopment of three Carmel properties
Turner Woodard, the former majority owner of the Stutz Business and Arts Center in downtown Indianapolis, has purchased the former Rich’s Home Furnishings showroom in Carmel to redevelop as the first in a series of three new projects in the northern suburb.
Whitestown youth-sports project could be part of larger partnership
A local developer and a Missouri-based startup view a former junkyard as a proving ground—for young athletes, and also for the firms’ goal to build a network of youth-sports developments.
Disney to shut 60 North American stores, 20% of global total
Indiana has two Disney Store locations—one in Indianapolis at Castleton Square Mall and one in Merrillville.
Brew Link brewpub set to open in downtown Indianapolis
Brew Link, which is owned by three Hendricks County couples, opened its first location in Plainfield in 2016. The Indianapolis location is slated for a mid-March opening.
Walmart to invest $350 billion in U.S. manufacturing
The world’s largest retailer said it plans to invest $350 billion in products made, grown or assembled in the United States over the next 10 years, a move it says will help create 750,000 jobs.
Bed Bath & Beyond to go with something new to revive sales
The chain will begin selling eight new store brands this year. The new brands were announced Wednesday by CEO Mark Tritton, who was hired in late 2019 from Target, where he did much the same thing as chief merchandising officer.
Real Estate Weekly: News notes 03/02/21
These news notes appeared in IBJ’s Real Estate Weekly on March 2, 2021: —Store-within-a-store Sephora cosmetics shops are coming to two Indianapolis-area Kohl’s locations as part of a larger collaboration between the two retailers. The new concept, a 2,500-square-foot space branded as Sephora at Kohl’s, is launching at 200 Kohl’s stores this fall, including 4850 […]
Chase to install solar panels on at least 17 area branches
The installations are happening at Chase branches across the United States, and each installation will provide 30% of that branch’s annual power needs, Chase spokeswoman Carlene Lule said.
Ambrose requests tax break for redevelopment of former Navistar site
The Indianapolis-based developer plans to break ground later this year on the building—its first at the 93-acre site that on the east side Ambrose has branded Indianapolis Central Logistics Park.
IBJ Podcast: Restaurants rejoice in looser limits for March Madness
Host Mason King talked with Mike Cranfill, co-owner of The District Tap, and Mike Cunningham, founder and CEO of Cunningham Restaurant Group, which owns 35 restaurants with plans to open several more soon, about what the NCAA tournament will mean for them.
The Proscenium in Carmel almost ready for its debut
What once was a deteriorating Party Time Rental warehouse and an Arby’s has been transformed into a ritzy residential and commercial block.
Real estate firm’s bet on senior health care takes painful turn
The past year has been awful for Carmel-based Invesque, as COVID-19 hurt the full gamut of its health care real estate portfolio, from nursing homes and office buildings to memory-care and assisted-living centers.
Costco to raise starting hourly wage to $16, end hazard pay
The starting wage scale puts Costco above competitors, including Amazon, Target and Best Buy, which have $15 minimum wages.
Nation’s largest retail trade group forecasts strong sales growth
The National Retail Federation said Wednesday it anticipates that retail sales will grow between 6.5% and 8.2%, to more than $4.33 trillion, this year.