Accounting change could have huge impact on real estate leasing
Proposal requires companies to book leases as assets, and stands to shift the momentum to purchases.
Real Estate
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Summit Realty plans to grow into new headquarters
Summit Realty Group is building out a new headquarters in a historic downtown building as its principals embark on an aggressive growth plan for the privately held company.
Cosmopolitan apartment fire prompts lawsuit
The insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed the apartment project and damaged the not-for-profit’s adjacent headquarters.
Simon may drop interest in Capital Shopping Centres
Indianapolis-based Simon Property Group Inc. will end its interest in buying Capital Shopping Centres Group Plc if the U.K. company doesn’t provide information necessary to evaluate a bid.
Builders of faulty Indiana bridge face state-work ban
A committee has recommended that the state highway department stop hiring Gary-based Superior Construction Co. and Indianapolis-based bridge designer RQAW Corp. over a northwestern Indiana highway that has been closed because of safety concerns.
City Market tenant agrees to move to alternate space
Under a settlement, the Indianapolis City Market dropped its attempts to evict the Grecian Garden after the restaurant said it would relocate to accommodate a renovation.
Duke poised to buy South Florida portfolio
The purchase of the $500 million portfolio of industrial and office properties would continue Duke’s recent push into the South Florida market.
Groundbreaking nears for $7.5M Fletcher Arts project
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project called Fletcher Arts just west of the intersection of Virginia Avenue and East McCarty Street.
Developer says Broad Ripple hotel will have ‘green’ elements
Developer Debra Stolen Hasbrook found the site at 6520 Westfield Boulevard while running on the Monon Trail.
Foreclosed-property care sparks fight over who’s responsible
Lawmakers might address in the upcoming legislative session the controversy over who is responsible for upkeep on foreclosed properties.
St. Francis Hospital project targets Greenwood’s growth
The $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000 to 2009.
Simon Property offers to settle dispute over widow’s stake
Simon Property Group Inc. has offered to settle a lawsuit with Bren Simon by cashing out 6.5 million partnership units her late husband Melvin held in the giant shopping mall developer.
UPDATE: City Market has tentative deal with longtime tenant
City Market operators have reached a tentative deal to settle a dispute with Grecian Garden’s owners after alleging the eatery was late on its rent payments for several months. Details of the agreement were not disclosed.
North of South financing clears first hurdle
The Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
Feds sue developer Premier over raid on retirement accounts
Executives of defunct Indianapolis developer Premier Properties USA Inc. are negotiating to settle a lawsuit brought by the U.S. Department of Labor that claims the company raided employee retirement accounts in a last-ditch bid to save itself in early 2008.
Kite plans to raise $65 million in stock offering
The Indianapolis-based real estate investment trust said it will sell 2.6 million shares of preferred stock at $25 each to repay debt, purchase property and use for general corporate purposes.
INSIDE DISH: Irvington favorite breaks off slice for Greenwood
The owners of Jockamo Upper Crust Pizza had seen other local eateries sink after expanding. They weighed many risks before pulling the trigger.
Electronics maker buying former GM factory in Anderson
Northwind Electronics LLC will invest $954,000 to buy, renovate and equip a former General Motors factory in Anderson—creating as many as 100 jobs in the next two years, state economic development officials said Tuesday afternoon.
Simon widow’s attorneys want judge to step down
Attorneys for Bren Simon turned their ire toward a Hamilton County judge on Tuesday, asking him to recuse himself from a legal battle over real estate magnate Melvin Simon's $2 billion estate.
Renewed Sunday liquor fight to focus on money
Backers of the proposed legislation have begun touting a study estimating that as much as $9 million in additional tax revenue would be generated for Indiana by the allowance of Sunday sales.