Van Rooy buys Greenwood apartment complex
Indianapolis-based company purchases 438-unit Westminster Apartments from court-appointed receiver. The listing price of the property was $8.2 million.
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Estridge drops Westfield sports complex, still plans stadium
The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
Sun Capital’s cuts spark union drive at Marsh Supermarkets
Workers at the Beech Grove grocery will vote Sept. 17. The United Food and Commercial Workers would have to prevail in votes at all locations to provide representation for the entire chain.
Lauth revival hinges on judge approving settlement
The deal with financial backer Inland American Real Estate Trust would leave Lauth Group with fewer properties but a more manageable debt load.
Hat World acquires New York sporting goods dealer
The purchase of Anaconda Sports helps Hat World to grow its LIDS Team Sports division, created to expand the Indianapolis-based company’s reach beyond hat retailing.
Eateries cash in on TV appearance
Owners of Edwards Drive In and Bub’s Burgers & Ice Cream say they’ve experienced a large uptick in business after being featured last month on the Travel Channel’s popular “Man v. Food” show. Now Indianapolis’ Flying Cupcake and West Coast Tacos are hoping for their time in the spotlight, too.
State makes it easier to renew asbestos-removal license
Indiana currently licenses about 2,500 asbestos-removal professionals each year.
Lauth affiliate reaches deal to exit bankruptcy
The once-mighty Indianapolis-based developer laid low by the credit crisis has reached a deal to retain control of most of its properties.
Downtown YMCA reopens after crane accident
The YMCA at the Athenaeum Building had extensive water damage after a crane fell onto the building's roof Aug. 23. The crane burst a sprinkler line, sending water through much of the 1890s facility.
Former Hilbert mansion draws local interest in auction
Sealed-bid auction attracts a half-dozen bids from interested owners that are “more centrally located than you might think,”
said the listing agent.
Simon sees improving retail conditions, analyst says
Simon Property Group Inc. said retailers
leasing space in its malls have managed to weather the economic downturn and are already eyeing recovery plans for when the
economy improves.
Simon Property wraps up $2.3B outlet mall acquisition
Under the terms of the deal, Simon paid about $700 million for the owners’ interests in Baltimore-based Prime Outlets and
assumed $1.55 billion of Prime’s debt and preferred stock.
Property at busy crossroads finally attracts buyer
Environmental and zoning issues had made the property at the southwest corner of Keystone Avenue and Kessler Boulevard difficult
to sell.
Groundbreaking nears for $4.5M apartment project
The 62-unit project called National Apartments on the Monon is the latest phase of the Martindale on the Monon redevelopment
project, which began in 2005. The developer is Indianapolis-based Development Concepts Inc.
Best real estate agents get severe haircuts
One perspective shows top-selling teams working just as hard to sell 27 percent less.
Metropolis mall purchased by Israel firms
Aviv Arlon Global Ltd. pays $52 million for shopping center, which was in court-appointed receivership. Former real estate firm Premier
Properties USA Inc. developed Metropolis, with an investment of $160 million.
Bid deadline looms for former Hilbert mansion
The 25,000-square-foot mansion once owned by Conseco Inc. founder Stephen Hilbert was listed five years
ago at $20 million—and
about half that in recent months. Now the property is being sold in a sealed-bid auction, and offers are due Friday.
Funeral company in 129th year keeps fresh perspective
Flanner and Buchanan Funeral Centers sometimes stretches the definition of “funeral” to stay relevant after nearly
130 years. The family-owned business began downtown and has grown northward along with the city’s population. Today,
it has 14 funeral centers and conducted 2,200 funerals last year.
Apartment developer S.C. Bodner sued over accessibility
The National Fair Housing Alliance and two of its member groups allege that Bodner communities in eight states including Indiana violate accessibility requirements of the Fair Housing Act.
Reverie Estate buys another downtown Indianapolis apartment building
The prolific developer of urban apartments plans to turn the building into an affordable artists’ community.