Mel Simon’s 2009 Pacers deal is wreaking legal havoc
Mel Simon sold his stake in the Indiana Pacers to his brother Herb in February 2009, seven months before Mel's death. Lots of legal questions are swirling around the deal six years later.
Real Estate
Articles
Developer plans $110 million second phase of CityWay
The development plan by Buckingham Cos. consists of seven more buildings—including a nine-story tower—that will contain 450 apartments and 19,500 square feet of retail or office space. A parking garage also would be built.
HHGregg misses expectations with quarterly loss
The Indianapolis-based appliance and electronics retailer on Thursday reported a loss of $10.1 million on shrinking sales.
Broad Ripple bar re-emerges with new name, ownership
The former Chumley’s on Broad Ripple Avenue has reopened as Village Tap Room after an extensive renovation by new owners who hope to attract a more professional crowd.
Design of $50M Mass Ave apartment project wins approval
The Indianapolis Historic Preservation Commission on Wednesday evening approved the design of the five-story Montage on Mass apartment and retail project, but the building’s controversial electronic-mesh art display likely won’t be considered until next year.
Local Cushman & Wakefield office names new leader
A veteran Duke Realty Corp. executive is assuming leadership from Jeffrey L. Henry, who has led the office 15 years, a span that included a series of name changes.
Anderson store on Target’s national closure list
Target Corp. plans to close 13 stores nationwide, including one in Anderson, the retailer announced Wednesday.
Roundup: Fountain Square welcomes eatery; downtown dessert bar opens
Marrow opens Tuesday evening while Frona Mae began serving customers Monday from its East Washington Street space. Also, Hoaglin to Go plans second downtown location, in new YMCA.
Longtime Duke Realty CEO Oklak stepping down
The Indianapolis-based real estate investment trust said Dennis D. Oklak will retire at the end of the year as part of a succession plan and be replaced by the company’s chief operating officer.
Projects progressing along stretch of East 16th
Plans call for apartments, another restaurant from the owners of Tinker Street, and even a microbrewery or distillery.
Westfield selects Jonathan Byrd’s to operate Grand Park hotel
According to plans, the 180-room hotel will be on 5.26 acres of city-owned property immediately to the west of the future indoor soccer facility on 191st Street.
CBRE expands local operations with acquisition of Sitehawk Retail
Sitehawk, whose roots date back to 1982 as The Linder Co., has been a leading retail brokerage in Indiana for several years. CBRE had been pursuing Sitehawk on and off for years, real estate sources said.
Renovation eyed for ex-Studebaker plant in South Bend
City officials are working with an entrepreneur to turn the 950,000-square-foot building and a pair of adjacent two-story buildings into a place for high-technology businesses, manufacturing, offices, condominiums, stores and restaurants.
Wal-Mart, Target step up their holiday strategies
Wal-Mart and Target have a lot to prove this holiday season. Both are heading into the season with turnaround plans they launched after being battered by the economy and their own mistakes.
$60M mixed-use project planned for Rangeline
The ex-Party Time Rental warehouse has been an eyesore for years, but Carmel officials finally seem ready to OK a plan to transform the 6.5-acre site.
Kite Realty reports profit, bumps up earnings outlook
The Indianapolis-based real estate company said it had funds from operations of $43.9 million in the period, slightly beating Wall Street expectations.
Hinkle Fieldhouse renovation takes top Monumental Awards honor
The $36 million rehab of Butler University’s historic venue won The Monumental Award, which recognizes excellence in city architecture, engineering and construction.
Roundup: Pizza parlor opening near Butler, gelato shop coming downtown, more
Byrne’s Pizza is expanding from its food truck to open in the Butler-Tarkington neighborhood, while Georgia Street Gelato will bring more retail to the pedestrian zone.
Duke Realty sees higher profit on property sales
The Indianapolis-based real estate developer said profit increased amid a revenue decline in the third quarter with the help of property sales totaling $238 million.
Massive Greenwood retail project in works on I-65
Developer Gershman Partners is planning a $90 million retail project in Greenwood that would include 700,000 square feet of space, putting it on par with central Indiana’s major shopping centers.