A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic
cancer.
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant
downtown properties he plans to convert to market-rate apartments.
Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six
years.
They used to say that downtown Indianapolis rolled up the sidewalks at 6 p.m. No one says
that anymore. Now they say those sidewalks need to be clean. Sidewalk cleanliness is important on a day-to-day
basis for aesthetic reasons, but even more so when Indianapolis wants to put on its best face for major events
like the Final Four, the Indianapolis 500 and the Super Bowl.
The CEO of Kite Realty Group Trust last week sold 130,000 shares, or nearly a half-million-dollars worth, of the Indianapolis-based
real estate firm’s common stock.
Indiana Lt. Gov. Becky Skillman plans to announce the first awards of $164 million in federal stimulus money to build low-
and moderate-income housing across the state.
Kahn’s Fine Wine & Spirits plans to open a second location in a former O’Malia Food Market at the northeast
corner of 86th Street and Township Line Road.
Despite recent investment by Major Health Partners, Shelbyville’s technology park is about as far from meeting state
standards as it was two years ago.
Kmart Corp. has notified the Indiana Department of Workforce Development that its Martinsville store will close Nov. 30, costing
48 employees their jobs.
Marion County prosecutors this morning began making their case that Christopher P. White knowingly wrote a bad check for $500,000
last year in a desperate attempt to save his Indianapolis-based development firm, Premier Properties USA Inc.
Locally based information technology consultant Apparatus has agreed to buy the former WFYI building at 1401 N. Meridian St. for a new headquarters.
Best Chocolate in Town is expanding beyond its original store on Massachusetts Ave.
Locally based Sandor Development Co. is looking for a new tenant for the old AMC Loews College Park 14 movie theater, after
the screens went dark for good in July after a 25-year run at West 86th Street and Michigan Road.
Safeco is leaving a five-building complex on North Meridian Street, and Eli Lilly and Co. has offered for lease its entire
four-building Faris campus.
For a city feverishly growing its technology and life sciences sectors, it seemed a bit anticlimactic last January when
Purdue University dedicated its new technology center with only one tenant. But the lone tenant in the $12.8
million complex, FlamencoNets, a high-tech telecommunications firm, is about to get some company.
Since key Lauth Group subsidiaries landed in bankruptcy in May, the company has described its misfortune almost as if it
were an act of God.
Sales still are suffering at shopping centers owned by Simon Property Group Inc., but the Indianapolis-based
mall giant managed in the second quarter to keep occupancy steady and eke out an increase in average rent rates.
Indianapolis shopping mall giant Simon Property Group Inc. today said it lost $20.8 million in
the second quarter in what it called a “difficult retail environment.”
Indianapolis-based Duke Realty Corp. late yesterday posted a 32-percent drop in its second-quarter funds from operations,
a key performance measure for real estate investment trusts.
Hotel occupancy rates are way down in Indianapolis, as they are elsewhere, but local operators and national analysts think
the city is in a good position to bounce back when the economy improves.
