Liquor store chain wants to intervene in lawsuit
Attorneys for 21st Amendment have filed a motion to intervene in the suit filed by the Indiana Petroleum Marketers and Convenience Store Association and several store owners.
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Dispute over Uptown Business Center in SoBro gets messier
The dispute started in October when the lender tried to take possession of the building at the southwest corner of 49th Street and College Avenue. Now the owner has filed Chapter 11 to delay foreclosure proceedings.
Four teams bidding for I-69 financing, construction
The state hopes to start converting the 21-mile stretch of interstate early next year. The project is estimated to cost $394 million.
Roundup: Graeter’s selects Butler-Tarkington location
The latest Retail Roundup reports that the popular Graeter’s ice cream chain is taking space at 56th and Illinois streets, while Mo’s … A Place For Steaks undergoes a name change.
Allison Pointe buildings hit with foreclosure suit
The owners of the buildings, about three dozen entities and individuals, owe $16.6 million, or the entire balance of the loan they received in 2006 to purchase the properties, according to court documents.
Steak n Shake dispute with franchisees reaches to Denver
The locally based burger chain filed suit late last month to stop a Denver restaurant owner from operating under its logo in a spat over menu pricing. The franchisee is countersuing.
Kite Realty reports loss on loan default
The Indianapolis-based real estate investment trust took a $5.4 million non-cash impairment charge relating to a $29.5 million loan default on a retail development in Georgia.
New retail downtown sitting idle
A flood of downtown apartments coming on the market is leasing up quickly, but much of the attached retail space continues to languish as some begin to wonder whether the residential boom will create enough retail demand.
New front opens in family battle over Mel Simon fortune
Bren Simon is pushing hard for a distribution from the estate now, citing as precedent an Indiana Court of Appeals ruling in another case that “as a matter of policy, beneficiaries should not be starved of distributions to which they are undisputably entitled.”
Canadian firm buys former Fundex HQ for $3.7M
Dalfen American Corp. of Montreal acquired the 110,000-square-foot building in an auction Wednesday following the bankruptcy of the Plainfield-based game maker.
Scotty’s Brewhouse could shrink with sublease
With business not up to expectations, founder Scott Wise is searching for a tenant to take about 2,500 square feet within the existing 12,000-square-foot space at 1 Virginia Ave.
HHGregg reports smaller loss on improving same-store sales
The company reported a loss of $1.3 million, or 4 cents per share, for its latest quarter, compared with a loss of $5.7 million, or 16 cents per share, in the same period a year ago.
Centre Properties escapes foreclosure on 12 properties
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
State Fairgrounds to debut new $10M Youth Arena
The 30,000-square-foot Youth Arena will debut as the site of 4-H Horse & Pony classes and events. The fairgrounds' newest building will also host livestock shows, draft horse competitions and other events.
Art gallery planned for Washington Street building
The new owners of a pre-Civil War building at 42 E. Washington St. are renovating the historic four-story structure with plans to open a high-end art gallery in October on the ground level.
Don Marsh to keep $2.2M severance from grocery chain
Judge Sarah Evans Barker issued an order allowing Marsh to keep the severance paid by his former company, which attempted to recover the payments from him. The order ends a four-year court battle between the two parties.
Local firms team up to buy North Meridian office building
REI Real Estate Services LLC and Perennial Investments say that together they'll invest about $1 million in hopes of getting the office building at 550 Congressional Blvd. fully leased.
Developer puts key Zionsville parcel under contract
The vacant piece of land on the southwest corner of Main and Sycamore streets, once home to a Citgo gas station, is viewed as a vital link between the historic village and development to the south.
Simon Property raises forecast after results top expectations
Simon Property Group Inc. reported an increase in second-quarter funds from operations, revenue, occupancy and base rents.
Bank seeks abatement to construct office space along I-69
Economic development leaders in Fishers are asking the Town Council to OK a six-year property tax abatement to help First Internet Bancorp construct as many as two office buildings.