Tropical Smoothie Cafe targets Indianapolis for eight eateries
The smoothie and restaurant chain plans to open two stores in Hamilton County in 2019. The franchisee is targeting Carmel and Fishers.
Real Estate
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Mall owners, retailers clash over avalanche of online returns
David Simon, CEO of Indianapolis-based Simon Property Group Inc., says a “significant number” of tenants are underreporting sales, costing the nation’s largest mall owner a lot of money.
Celebrity chef’s burger restaurant closes its north-side location
The restaurant, created by Food Network chef Michael Symon, opened in the high-profile Ironworks development in mid-2015.
Local office, industrial markets continue hot streaks in first quarter
Vacancy rates in both sectors continued to shrink in the first quarter as office and industrial tenants consumed more leased space.
Existing-home sales decline in Indianapolis area as inventories plummet
It was the first month sales have fallen since July and only the fourth month they’ve declined on a year-over-year basis in the past 29 months.
Old gymnasium, famous church, college campus on ‘Most Endangered’ list
Indianapolis-based not-for-profit preservation group Indiana Landmarks released its list Monday, with nine new listings and one landmark repeating from last year’s list.
Upscale Fishers apartment complex sells for nearly $37M
The 306-unit Flats at Fishers Marketplace complex was the site of a major fire in 2015 that destroyed one of the main buildings.
Biglari Holdings shares tumble after restructuring boosts CEO’s grip on company
The parent of Steak n Shake will create two classes of stock, allowing Sardar Biglari to make acquisitions without diluting his voting control.
Vitamin retailer GNC closing 200 stores
Like other retailers, Pittsburgh-based GNC has been struggling with a large brick-and-mortar footprint and competition from online sellers.
Online auto dealer Carvana to open 70-acre reconditioning center, create 200 jobs
Carvana got the green light to buy the land in the Mount Comfort area from struggling trucking company Celadon Group Inc., which last year abandoned plans to build a new headquarters there.
Simon Property shares rise on better-than-expected earnings report
Shopping center giant Simon Property Group Inc. on Friday reported a strong first quarter that exceeded analyst predictions.
City releases data trove on abandoned, blighted homes initiative
The “2,000 homes” dashboard—named after a pledge by Mayor Joe Hogsett to “rehab, transform, or demolish” 2,000 homes in two years— allows residents to see addresses of blighted homes, their owners, and the type of city intervention they have received or will receive.
HAND to renovate Lebanon duplexes into affordable apartments
The Noblesville-based not-for-profit known as HAND has announced it will invest $2 million to acquire and renovate 17 duplexes in Lebanon into affordable apartments for low-income residents.
First phase of Infosys’ $245M airport campus will be $35M training center
The ultimate project, to be developed in phases over the next several years, is expected to be a $245 million, 141-acre complex with 786,000 square feet of facilities.
Kite Realty takes quarterly loss, but tops analyst expectations
Indianapolis-based real estate developer Kite Realty Group Trust outperformed analyst forecasts with higher-than-expected revenue and funds from operations.
Duke Realty reports stronger-than-expected first quarter
The Indianapolis-based real estate investment trust exceeded analyst expectations for revenue and funds from operations.
Round Room dials up massive growth in cell-phone industry with unique plan
With 2,400 employees and $2 billion in revenue, Carmel-based Round Room LLC is most assuredly not a small company. But don’t tell that to CEO Scott Moorehead.
Mr. Canary to debut new product on Home Shopping Network
The 23-year-old Carmel-based company has big expectations for its new “Bird Buffet” feeding system.
Luxury car plant opened in 1911
Stutz Motor Co. built luxury cars, race cars and safety vehicles at this plant at the corner of 10th Street and Capitol Avenue from 1911 through 1935.
Subway plans 500 more U.S. store closings amid fierce competition
After peppering the nation with thousands of locations, closely held Subway is retrenching in the United States while adding more stores in international markets.