New Simon VC arm making bets on retail technology
The newly formed Simon Venture Group is betting millions of dollars on nascent technology companies that hope to reshape retailing.
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Mike’s Carwash splitting into two companies
The central Indiana locations of Mike’s will undergo a name change as part of the reorganization and will be called Crew Carwash effective Oct. 5. Other locations in Indiana, Ohio and Kentucky will retain the Mike’s name.
City OKs $10M in street upgrades for natatorium plan
The Indianapolis Metropolitan Development Commission on Wednesday approved $10 million in downtown tax-increment financing funds to pay for street improvements on the IUPUI campus. The contribution works in conjunction with IUPUI’s $20 million overhaul of the IU Natatorium.
New judicial center would set off an office exodus downtown
New justice center would clear swaths of offices, raising vacancy rates at a time when the market is struggling.
Amazon extends same-day delivery service to Indy
Beginning Wednesday, local customers who subscribe to Amazon’s Prime service can order items as late as noon and receive them by 9 p.m. the same day for a flat service charge.
Memories, recipes all that remain of Indy bakery chain
There were 34 Roselyn stores in Marion and the surrounding counties before the business was closed 15 years ago following revelations of insect and rodent infestation at its production bakery.
Ten-acre parcel near Colts stadium hits the market
The vacant property west of Lucas Oil Stadium could get a boost from redevelopment efforts at the former GM stamping plant site just across White River.
Walgreen turns down inversion, to keep HQ in U.S.
The nation's largest drugstore chain said it will no longer pursue an overseas reorganization that would have trimmed the amount of U.S. taxes it pays.
Second city Land Bank defendant pleads guilty
A second defendant in an alleged kickback scheme involving the Indy Land Bank has pleaded guilty, and a judge has moved a trial for three remaining defendants to early 2015.
First piece of Central State redevelopment nearly finished
Local developer Reverie Estates is converting the administration building, now known as the Central State Mansion, into 67 dormitory-type rooms for student housing and welcomed its first tenant late last month.
Construction blitz in full swing around Ball State
With less than two weeks until the start of classes at Ball State University, businesses in Muncie that will cater to students are racing to complete their building projects.
Van Rooy converting more units to market rate
The local apartment owner and manager will spend $2.5 million to upgrade Ransom Place near the IUPUI campus from Section 8 housing. It’s the second time the company has undertaken such a project in the neighborhood the past few years.
State eyes downtown site for $17M archives project
Officials want developers to submit plans for a site on the American Legion Mall, including an existing historic building and a 36,000-square-foot addition.
REI Investments agrees to buy site of former GM stamping plant
The local developer plans to purchase the entire 102-acre property, which has been earmarked for a 15,000-seat outdoor concert venue and the city’s new criminal justice complex.
Construction spending suffers worst drop in 3 years
Construction spending dropped 1.8 percent in June on a seasonally adjusted basis after rising by a revised 0.8 percent in May, the Commerce Department reported Friday.
Love Culture’s plans approved over Simon’s objection
Love Culture Inc., the bankrupt clothing chain, won court permission to hold expedited store-closing sales, over the objection of unsecured creditors, including Indianapolis-based Simon Property Group Inc.
Green BEAN Delivery plans $3.8M expansion
The fast-growing local company, which already employs more than 200, plans to add up to 105 workers by 2024.
Simon suing ShopperTrak over use of mall cameras
A subsidiary of Simon Property Group Inc. is suing the world’s largest retail traffic counter, claiming it’s unjustly profiting from cameras installed in stores at Castleton Square Mall.
Two-hotel tower proposed across from fieldhouse
A Minneapolis developer wants to build two high-end hotels in the same 15-story building on a surface parking lot downtown across from Bankers Life Fieldhouse.
Acquisition costs contribute to Kite quarterly loss
The company’s loss of $5.1 million in the second quarter was mostly due to costs from its $1.2 billion acquisition of Inland Diversified Real Estate Trust early this month, the Indianapolis-based company said.