City, development group agree to protect Mallory site
Those seeking the historic designation hope the four-acre industrial complex will be a catalyst for redevelopment of a stretch of East Washington Street.
Commercial Real Estate
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Shareholder group advises against Simon CEO bonus pay
Simon Property Group Inc. is firing back at a corporate governance advisory firm that has recommended Simon shareholders vote against an employment agreement for CEO David Simon that includes a $120 million retention award.
New charter school proposed for North Meridian Street
An Arizona charter school operator serving middle and high school students has filed plans to build a two-story school at Meridian and 22nd streets.
Kite reports narrow loss as revenue rises
Kite Realty Group Trust Inc. reported a narrow first-quarter loss as a healthy revenue increase and a gain on the sale of an out-of-state shopping center were partially offset by a $1.3 million litigation charge.
Growth tear swells Simon Property Group
Simon Property Group Inc. this year joined the Standard & Poor’s 100 Index, a listing of the nation’s largest and most established companies including Apple, Coca-Cola and McDonald’s. The Indianapolis-based company is the only real estate company on the list and is now the largest real estate company in the world.
Local developer files to go public in Canada
A locally based developer and owner of senior health care centers has filed to go public as a real estate investment trust in Canada.
INSIDE DISH: Husband-wife team revive sushi joint’s reputation
Scott and Debbie Bennett sank their savings into purchasing Greenwood's Yokohama, which had a past peppered with disappointed patrons.
Local real estate developer files for bankruptcy
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
Veteran broker Hohmann leaves Cassidy Turley to go solo
Hohmann has been involved in numerous high-profile real estate deals over the years, including the transaction that resulted in development of Intech Park and assembling about 60 acres for Clay Terrace in Carmel.
Judge orders Clear Channel to sell key Speedway parcel
The town of Speedway will pay Clear Channel $189,000 for its interest in a key piece of property near the Indianapolis Motor Speedway.
Anderson officials plan to demolish Emge building
Anderson officials plan to demolish a former meat-processing plant and convert the 5-acre property into a maintenance and storage area for the wastewater department.
Simon boosts dividend after gains in sales, occupancy, rent
Simon Property Group Inc. said sales at its U.S. malls jumped 11.2 percent in its most recent quarter, to $546 per square foot. Simon malls were 93.6-percent occupied, up from 93 percent.
Duke Realty’s quarterly results in line with expectations
Indianapolis-based Duke Realty Corp.’s financial performance in the first quarter met analyst expectations even though the company suffered a $36 million loss and saw revenue decline by $65 million.
Longtime CEO of Acorn Group real estate firm dies
Albert M. Donato Jr., 70, founded the Indianapolis commercial real estate and property management firm in 1988 and most recently served as CEO and board chairman.
Castleton Square will get new stores catering to youth
Forever 21 is more than tripling its square footage at the north-side mall by taking the former Borders bookstore space.
City gives OK for $60M apartment building on canal
Investment Property Advisors agreed to reduce the size of the apartment building from 26 stories to 10 stories and from 485 units to 319 units to help gain support from the city.
Earth Fare grocery replacing Borders at Hamilton Town Center
An upscale supermarket chain focused on natural and organic products is taking the former Borders bookstore space at Hamilton Town Center. The store will be the first in Indiana for the privately held chain.
Real estate exec’s bankruptcy filing lists $13.3M of debt
Philo Lange, former managing partner of NAI Olympia Partners, lists nearly $12 million in unsecured claims, almost half of which is owed to PNC Bank, according to court documents.
Manufacturer plans distribution center in Plainfield
Wisconsin-based Regal Beloit Corp. has hired Browning/Duke Realty to build a 376,000-square-foot distribution center in Plainfield, the company announced Tuesday.
Suburban office market turns in strong first quarter
Net absorption was the highest in five years, chipping away at what has been a chronically high vacancy rate.