An All Things Automotive franchise is replacing Saturn of Fishers. The concept, aimed particularly at displaced Saturn dealers,
involves used-car sales and service bays stocked by Carquest.
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered
to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
The Illinois-based drugstore chain is seeking to sell beer and wine at 29 of its stores in Marion County. Opponents argue
that the county already has granted enough permits.
The Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets
Acquisition Co.
Indianapolis restaurateur Scott Wise is moving forward with plans to launch Scotty’s Thr3e Wise Men Brewing Co., a microbrewery
that will produce craft beer for his eateries and the public. It will share space with another startup craft brewer.
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate
skirmish since the sale of Sam Zell’s Equity Office Properties Trust.
Scott Wise has five Scotty's Brewhouse locations and
is set to debut the Scotty's Lakehouse concept Monday. Within 10 years, he'd like to have
restaurants in the Southeast and on the West Coast.
Check out a roundup of big changes for the downtown restaurant scene including Tea Cozy, Sahm’s and Urban Element, plus a
new fitness option at the Majestic Building.
The bid by Simon Property was an “initial salvo” and the Brookfield plan likely will prompt a new offer from the Indianapolis-based
mall owner, real estate research analyst says.
A National Collegiate Athletic Association posse will be supplemented by local police officers in search of unlicensed T-shirts
and other memorabilia.
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation’s largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
Simon’s warning was delivered in a letter sent to General Growth a day after the company essentially rebuffed Simon’s hostile
takeover bid.
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly
that number within the next year.
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication
book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious
reader.
Kmart’s announcement that it will close its store in Connersville in May will put 59 employees out of work. Fayette County,
where the city is located, already is strapped by steep job losses.
Pharmacy giant CVS will pay $1.95 million and verify that all of its pharmacists are licensed in Indiana to settle a state
complaint that pharmacists with expired licenses dispensed prescriptions for several years at two of its drugstores.
The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming
a story in IBJ‘s Feb. 8 print edition.
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
Unibail-Rodamco SE, Europe’s biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
