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.
Real Estate
Articles
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.
Lowe’s 4Q results surge as people plow money into homes
Home improvement stores have become hot destinations during the pandemic, with millions working from home and attending school remotely. Many Americans have found the time to update or change their homes to add home offices and other elements.
Fry’s Electronics closes all stores, including Fishers location
The 180,000-square-foot Fishers store originally housed Incredible Universe, a media and electronics superstore owned by Radio Shack parent Tandy Corp. Fry’s took over the building in 2005.
Ratio Design sells minority stake to Toronto investment firm, plans growth
Ratio will remain an independent Indianapolis-based company as part of the deal, with founding principal Bill Browne staying as president and the largest individual shareholder.
Real Estate Weekly: News notes 02/23/21
These news notes appeared in IBJ’s Real Estate Weekly on Feb. 23, 2021: Briefs: —The Scoop Shack, a combination ice cream shop and artisan boutique, is expected to open this spring at 7002 Lake Plaza Drive in the Avalon Crossing shopping center, just east of Binford Boulevard and south of 71st Street. Owners Nicole Eslinger and Sonja […]
Glendale continues to evolve with outlots for lease, cosmetic changes, new Culver’s
The owner of Glendale Town Center plans to market three new outlots as part of an ongoing renovation to the property that includes the addition of new tenants to backfill the former Macy’s space.