Lego plans first Indiana store for Castleton Square
The roughly 1,200-square-foot shop is scheduled to open in late March or early April.
Real Estate
Articles
Lender tries to sell note for Legacy at big loss
The lead bank on the massive Legacy development along 146th Street in Carmel has put the note up for sale with an asking price of about $15 million—less than half what lenders have sunk into the project.
Analyst predicts modest year for REIT returns
Goldman Sachs & Co. analyst Jonathan Habermann expects a return of 5 percent to 10 percent this year after last year’s 29-percent total return for REIT stocks.
Not much optimism in commercial real estate outlook
Another challenging year is in store for commercial real estate thanks to high unemployment, a still-struggling housing market and an unforgiving credit environment, Cassidy Turley plans to report Thursday at its annual State of Real Estate event.
Area home-sales slump continues in December
Home-sale agreements last month dropped 15.4 percent compared to December 2009, capping a year in which sales overall dropped 10.9 percent from the previous year.
Stadium construction issues nearly resolved
More than two years after it opened, some construction problems persist at Lucas Oil Stadium, particularly with outside lighting and with some of the plumbing. The work was performed by contractors that are now defunct.
First Indiana Lego store planned for Castleton Square
Great news for Lego fans of all ages: The privately held Danish company known for its toy construction sets is planning its first Indiana store, at Castleton Square Mall.
Simon Property abandons offer for Capital Shopping
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
Citimark rejoins development game
The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
Trail Side funding finally closes
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
Sara Lee to lease 281,000 square feet in Plainfield
Sara Lee Corp. has signed a lease for about 281,000 square feet of space at Plainfield Business Center at Airwest. The Illinois-based maker of food products will establish a new distribution center in the space in February.
California Pizza Kitchen to replace Alcatraz & more
California Pizza Kitchen plans to replace Alcatraz Brewing Co. on the first floor of Circle Centre mall. Alcatraz has occupied the space at the southeast corner of Illinois and Maryland streets since the mall opened in 1995. The Los Angeles-based chain does not currently have any restaurants in Indiana.
Ratio Architects acquires North Carolina firm
Ratio Architects Inc., the area’s fourth-largest architectural firm, has acquired Cherry Huffman Architects in Raleigh, N.C.
Lawmaker wants homeowners to pay for pond safety
An Indiana lawmaker worried about the dangers posed by retention ponds wants nearby homeowners to foot the bill of erecting safety barriers such as guardrails.
Marsh hit with second federal labor charge
National Labor Relations Board accuses supermarket chain of intimidating employees at its Beech Grove store for supporting an attempt to unionize. The charges follow a similar complaint NLRB made in November involving Marsh’s Georgetown Road store.
OfficeWorks acquires competitor’s local operations
Fishers-based furniture dealer and office space designer is purchasing the assets of Columbus, Ohio-based Continental Office Environment’s Indianapolis location on East 33rd Street. Both companies are Herman Miller dealers.
Simon target’s valuation ‘out of reach’ for Indianapolis firm
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
Real estate brokers scrambling for national partnerships
Top commercial real estate firms have been playing a name game of late, picking up or dropping national affiliations in a broad realignment of the city’s brokerage business.
Engineering firm exec started at the bottom
Donna Gadient has risen to the top ranks of engineering firm R.W. Armstrong through hard work, and without a college education.
Marion, Ind., chain balloons to 620 mobile-phone stores
The chain’s growth got a boost last year when it landed a deal to operate 164 cellular shops inside HHGregg stores.