Simon Property results improve as store rents climb
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
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Developer proposing $100M project for Carmel
A proposed 64-acre development west of U.S. 31 in Carmel would help satiate a craving for retail, but it faces a tough fight from neighborhood groups that want to preserve the thoroughfare’s residential character.
Rethinking Monument Circle in Indianapolis
IBJ gathered advice from local and national experts about what should be done to improve the city’s most prominent public space and where Indianapolis should look for inspiration.
UPDATE: Skjodt-Barrett Foods bringing 300 jobs to Lebanon
The newest tenant in Lebanon Business Park will occupy 214,000 square feet and make a $20 million investment to build out the space and install equipment.
Duke Realty reports strong quarterly results
The Indianapolis-based real estate investment trust reported a first-quarter profit of $47.6 million compared with a loss of $15.3 million in the same quarter a year earlier. Gains from the sale of properties helped drive profit.
Developer plans $13M senior-living center in Westfield
Cicero-based developer Mainstreet Property Group LLC plans to build a $13.3 million senior health care center in Westfield. The 65,000-square assisted living facility will employ about 150 people when it opens in 2012.
Real estate-related bills still alive in Legislature
The bill with perhaps the best chance of emerging is the so-called dinosaur buildings bill, which would make it easier to win tax incentives for renovating obsolete industrial buildings.
Cook applied business mindset to historic preservation
Colleagues say Bill Cook began each historic restoration contemplating what practical use each newly polished structure might serve, and how it might spark development around it.
Greenwood Shoppes seeks bankruptcy reorganization
The shopping center on U.S. 31 is the third Broadbent-operated strip mall to fall into bankruptcy and its second in Greenwood to claim financial problems.
Closed northwest-side theater set to reopen
A Chicago native and independent theater owner plans to reopen the old AMC Loews College Park 14 movie complex on April 29, under the new moniker of Movie Buff Theatre.
Office stats don’t tell full story of market’s recovery
Cassidy Turley's research director said the pace of leasing activity is the best he’s seen in 18 to 24 months.
Landlord seeking to evict Jillian’s over unpaid rent
The landlord of the downtown building that houses Jillian’s, which filed for bankruptcy protection earlier this week, wants the restaurant and entertainment complex out of its building, alleging the tenant owes nearly $700,000.
Pop-up retailers emerging in Indianapolis
With the retail vacancy rate hovering around 13 percent locally and nationally, temporary retailers are becoming a fact of life in malls, strip malls and downtowns around the country.
Insurance agency revives plans for downtown building
McGowan Insurance Group plans to build a $2.75 million, 19,000-square-foot building at 355 Indiana Avenue.
Retail REIT profits may slip on store bankruptcies
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
Simon CEO compensation jumps to $24.6 million
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
Bank seeks foreclosure on two strip centers
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city’s northwest side and Lakewood Shops on the northeast side.
UIndy to add dorm for upperclassmen
With enrollment surging in recent years, the University of Indianapolis finds itself needing new dorm space. The private college will build a $10 million, 200-student residence hall on the south edge of its campus.
Condo sales lag in hot downtown apartment market
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
Meridian Street buildings to get facelift
A not-for-profit is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into specialized affordable housing.