Kite Realty Group slashes CEO’s pay 44 percent
John A. Kite’s total compensation fell to $689,074 last year while the rest of his management team also took deep pay cuts.
Commercial Real Estate
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LEADING QUESTIONS: Real estate maven keeps even keel
In IBJ's new video feature offering management wisdom, Jeff Henry
of commercial real estate brokerage Cassidy Turley reveals how to keep your staff cool when the heat is on.
Report: Simon may drop General Growth bid
Shares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after
a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
Lilly sets date for move from Faris campus downtown
Work force reductions, new business structure make leased office space unnecessary. Moves will begin in late June.
Financial backer agrees to drop suit against Lauth
Affiliates of Lauth’s largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit
against
the Indianapolis-based
developer, and also withdraw a request to have a Chapter 11 trustee appointed.
New tenant-rep group plans commercial during Masters
One of the city's top office brokers is launching a new tenant-rep group with a TV commercial after the Masters golf
tournament on Sunday.
Tenant exit leaves Circle Centre 4th floor almost vacant
Departure of GameWorks arcade leaves another 27,000 square feet of vacant space on the mall’s fourth floor, which has struggled
for years to
keep tenants.
General Growth’s bankruptcy plan makes room for Simon
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer
was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
Answer to Murat’s naming-rights fight likely to be found in lease
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank
over a naming-rights deal announced March 16.
Severance boosts pay of former Duke Realty exec
Duke Realty’s former chief operating officer took home $3.1 million last year. The office, industrial and retail property
owner and manager
also awarded raises to its CEO and the rest of his management team.
General Growth preparing to file finance plan
General Growth is weighing options to exit Chapter 11 protection, with competing bids from Indianapolis-based Simon Property
Group Inc. and Brookfield Asset Management Inc.
Simon Property hiked CEO’s pay 34.7 percent last year
David Simon’s $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management
team’s pay declined or remained flat.
Downtown buildings land arts tenants
Vonnegut Memorial Library Inc. will move into 1,100 square feet at 340 N. Senate Ave. The Arts Council of Indianapolis will
occupy 5,400 square feet at 922 N. Pennsylvania St.
Fishers Town Council set to review auto mall plans
Butler Automotive Group is proposing a $19 million development along Indiana 37 that could include five auto dealerships and
create about 230 jobs.
Another General Growth suitor enters fray
Elliott Associates LP and Paulson & Co. are said to be discussing a plan to team with Brookfield Asset Management Inc. to
bring mall owner General Growth Properties Inc. out of bankruptcy, competing with Simon Property Group.
Prosecutor Brizzi defends no-cost real estate deal
Marion County Prosecutor Carl Brizzi paid nothing for a 50-percent stake in an Elkhart office building he acquired with a
local defense attorney.
Simon Property Group adds Glasscock to board
Former WellPoint Inc. leader Larry Glasscock has joined the board of directors of the Indianapolis-based real estate giant.
Simon weighs new General Growth bid, sources say
Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival shopping mall owner General Growth
Properties Inc. as early as this week.
Judge: Bren Simon can’t liquidate Simon Property holdings
A Hamilton County judge says Mel Simon’s widow can’t cash in partnership units worth more than $500 million.
No buyers surfacing for former Winona Hospital
As of Monday morning, the Marion County Metropolitan Development Commission had received no bids to buy the property. MDC
is set to begin reviewing bids at its Wednesday meeting.