Simon lands $4.6B loan to fund offer for London mall owner
Simon Property Group Inc. has secured a 3 billion pound loan that will give the company the resources to bid for London-based Capital Shopping Centres Group Plc.
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Lender takes action on Renaissance Bay project
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
Santa feeling stays with shoppers after Christmas
People hit the stores after Christmas to buy, indulging the rediscovered retail appetite that may have made 2010’s holiday shopping season the biggest ever.
Ivy Tech gaining closed Indiana State Police post
Ivy Tech officials say the state is in the final steps of transferring the Terre Haute property’s title to the statewide college system. The no-cost transaction is expected to be completed after Jan. 1.
Christmas Eve dash caps banner shopping season
A strong Christmas Eve would round out a surprisingly successful holiday season for retailers. The National Retail Federation predicts that holiday sales will reach $451.5 billion this year, up 3.3 percent over last year.
New Artsgarden skywalk will connect with PNC Center
The fourth skywalk connection to the Indianapolis Artsgarden is moving forward more than 15 years after the landmark structure opened.
Fourth Artsgarden walkway gets final approval
Construction on the walkway that will connect the downtown PNC Center with the Indianapolis Artsgarden should begin in March. Plans to pave the gravel parking lots on the former site of Market Square also received approval.
Broadbent spins off construction business
Beleaguered local developer The Broadbent Co. plans to spin out its construction arm as an independent company as of Jan. 1.
Strong holiday sales give Finish Line a boost
The company said on Tuesday sales at stores open more than a year rose 4.5 percent from Nov. 28 through Dec. 19 compared to the same period a year ago.
Finish Line third-quarter profit down on lack of tax benefit
Athletic shoe store chain The Finish Line Inc. said Tuesday that its fiscal third-quarter profit skidded 37 percent as a one-time leg up from a tax windfall last year was not repeated. Revenue rose 9 percent.
Analysts: Simon unlikely to buy Capital Shopping
Simon Property Group Inc. is unlikely to buy Capital Shopping Centres Group Plc because it will take too long for rents to rise enough to justify a price its U.K. counterpart would accept, according to Barclays Capital real estate analysts.
Glick partnership buys Maxwell apartment building
Gene B. Glick Co. and Milhaus Development LLC have purchased The Maxwell from Star Financial Bank. Located at 530 E. Ohio St., the project originally was developed as condos by Kosene & Kosene.
Duke/Browning team to develop building at new Wishard
The team, which plans to build an office building in the 200,000-square-foot range, beat out six other groups that submitted proposals.
Prudential Indiana adds two Coldwell Banker offices
Bringing Carmel and Avon offices under the Prudential brand should help the agency increase its presence in the metropolitan area, particularly on the west side.
Duke Realty planning $967M in property deals
The Indianapolis-based real estate investment trust said it will sell 3.1 million square feet of suburban office space for $516.7 million and buy 4.9 million square feet of mostly industrial space for $450 million.
Ricker rebranding 17 Indianapolis convenience stores
Anderson-based Ricker Oil Co. is changing the name on the ampm shops, which it acquired in 2008 from a division of oil giant BP, to match the remainder of its 50 Indiana stores.
Holy Cross startup sees plenty of room for more craft brewers
A startup brewery called Flat 12 Bierwerks has ignited a revival along lonely Dorman Street in Holy Cross, one of the city’s oldest neighborhoods.
Simon Property likely to continue pursuit of British mall owner
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
Naysayers place big bet HHGregg will stumble
Traditional analysts are high on the electronics retailer, but short-sellers, those who profit when a stock falls instead of rises, couldn't disagree more.
Retailers scout new Indy-area locations
Several restaurants, including three pizza chains, and an adult-oriented retail store are planning new locations around the city.