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.
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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.
New local restaurants open for business
The former owners of Arturo’s have opened another eatery, this time in Carmel’s Arts & Design District.
HHGregg shares slide on lower earnings outlook
The Indianapolis-based appliance and electronics retailer attributed its lower outlook to weak demand for new video technology products. Sales of LED and 3-D televisions were less than expected while sales of lower-priced TVs were higher than anticipated.
Report: Local apartment market strong in 2010
Occupancy in the Indianapolis metro area grew last year to 90.8 percent, according to the latest annual market report compiled by apartment brokerage Tikijian Associates. The downtown market, in particular, boasted strong numbers.
D-A Lubricant moving from Indianapolis to Lebanon
Company will purchase 23 acres and have Duke Realty Corp. build a 225,000-square-foot industrial facility in Lebanon Business Park. The move should be completed by December.
Marsh in Shelbyville among latest stores to close
The supermarket chain has closed a store in Rushville and will shut others in Shelbyville and Connersville by the end of February. The closures will leave Marsh with 97 stores, about half of which are in Indianapolis.
Spending data show strong December sales
Americans spent more on clothes, shoes, luxury goods and electronics in December than a year earlier, according to data released Wednesday.
INSIDE DISH: Recess owner keeps it simple, plans expansion
After initial trepidation over its chef-centric concept and urban location, Recess' Greg Hardesty plans to open another school-themed eatery.