Indianapolis-based Salin Bancshares to be acquired in $135M deal
Salin Bank and Trust Co.—the third-largest privately held bank in Indiana—will take on the name of its acquirer after the deal closes in early 2019.
IBJ Staff
Articles
Biofuels producer to build $160M plant in Shelbyville
South Dakota-based Poet made the announcement Friday in conjunction with President Donald Trump’s planned visit to Indianapolis on Saturday to give a speech during the annual FFA convention. In his appearance, Trump is expected to talk about the administration’s effort to help farmers by being more ethanol-friendly.
Simon Property raises outlook after solid third quarter
Simon Property Group Inc. on Thursday raised it outlook for the rest of the year after surpassing analyst expectations in a key quarterly performance category for real estate investment trusts.
Editorial: Balanced budget amendment is worthy constitutional change
Indiana has had a series of fiscally responsible administrations that have maintained strong reserves and spent them down only when faced with especially tough times. But there’s no guarantee such conscientious leadership is in the state’s future.
Residential Real Estate: Marketplace for October 26, 2018
Housing sales Active listings have continued to rise throughout the year, reaching 6,893 homes in September, roughly the same number that was on the market a year ago. But the number of homes sold slipped. Prices are up 6 percent over last year and the average days that a home stays on the market […]
Belskus stepping down as president of Indy Eleven
Jeff Belskus oversaw the team’s transition this year from the North America Soccer League to the much bigger United Soccer League, and its move to Lucas Oil Stadium for home games.
Recycling company plans $6.5M warehouse redevelopment in Irvington
A Quincy, Illinois-based company has acquired a warehouse on the east side of Indianapolis and plans to transform it into an 81,000-square-foot recycling facility.
Former IPL chief executive lands job at state’s largest bank
Rafael Sanchez, who left his job as president and CEO of Indianapolis Power & Light Co. this year as part of a corporate restructuring, has been hired by another of Indiana’s corporate heavyweights.
Area builders stay on hot streak, but study says pace won’t meet demand
A new report from the Builders Association of Greater Indianapolis and MIBOR Realtor Association says builders have a long way to go if they want to keep up with the area’s future demand for new housing.
Local fireworks retailer going out of business with huge auction
A company that operated more than 240 seasonal stores is scheduled to auction off about $4.5 million in fireworks as well as vehicles and equipment later this month.
State unemployment holds steady at 3.5 percent
Indiana’s labor-force participation rate—the percentage of the state’s population that is either employed or actively seeking work—rose to 65.1 percent in September. It remains ahead of the national rate of 62.7 percent.
Splenda maker settles trademark lawsuit against IHOP, Applebee’s franchisor
Carmel-based Heartland Food Products Group said it reached “an amicable resolution” of its differences with the franchisor of 3,700 restaurants.
Editorial: Circle must remain a showpiece but don’t overthink space
IBJ urges leaders from Downtown Indy and the city to continue looking for ways to better fund infrastructure improvements both on the Circle and its Meridian Street and Market Street spokes. That must be a funding priority.
Simon to weather, maybe even benefit from Sears’ decline, analysts say
Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears’ massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.
Last remaining local Sears, Kmart stores set for closure
Sears Holdings announced it was closing 142 more stores as part of Monday’s Chapter 11 bankruptcy reorganization plan.
Downtown steakhouse closes after parent company’s bankruptcy
Downtown’s jam-packed steakhouse scene has become a little less crowded after the closure of an upscale player that debuted in Indianapolis in 2017.
Celadon investors agree to settle class-action suit for $5.5M
The settlement, which is awaiting court approval, would resolve suits brought by several parties over financial-reporting issues that have plagued Celadon for at least four years. The plaintiffs expressed concern that the company would go bankrupt before any recovery could be made.
Carmel teams with Steinbach on new attraction for German holiday market
Carmel Christkindlmarkt organizers say the 33-foot-tall, lighted “pyramid” will be the largest of its kind in America. It is expected to be a popular feature at the upcoming Carmel Christkindlmarkt.
Former factory site to become housing
Indianapolis-based Flaherty & Collins Properties has been selected by the La Porte Redevelopment Commission to construct a 200-unit multifamily development in NewPorte Landing, the former site of an Allis Chalmers farm-equipment factory. Flaherty & Collins plans to construct two buildings totaling about 167,000 square feet. The development will occur along the shores of Clear Lake […]
Editorial: Legislature should eliminate final election of superintendent
Republicans and Democrats couldn’t come together on education policy in recent years, but they should be able to agree that there’s no good reason to hold an election just for old time’s sake.