New owners plan changes at Metropolis mall
A joint venture involving a Memphis-based developer has purchased the shopping center in Plainfield and plans to invest millions to update the troubled property. A name change also is a possibility.
Metropolis
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Metropolis mall purchased by Israel firms
Aviv Arlon Global Ltd. pays $52 million for shopping center, which was in court-appointed receivership. Former real estate firm Premier
Properties USA Inc. developed Metropolis, with an investment of $160 million.
SPECIAL REPORT: Financial travails dog ‘mystery man’ at helm of Premier Properties
An IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.
Developer’s fraud trial enters second day
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.
DeBartolo to buy Metropolis from Dominion Capital
Tampa, Fla.-based DeBartolo Development has reached a preliminary agreement to buy Plainfield’s Metropolis mall out of foreclosure
and hopes to hook Macy’s and Bass Pro Shops to anchor a second phase.
Premier Properties lays off workers as lawsuits, debt pile up
Premier Properties USA Inc. has eliminated about half its headquarters staff–more than 40 employees–as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.