![Simon Breaking](https://www.ibj.com/wp-content/uploads/2019/01/simon-here-2col-300x220.jpg)
Simon Property Group urges rival to heed $10B buyout offer
Simon’s warning was delivered in a letter sent to General Growth a day after the company essentially rebuffed Simon’s hostile
takeover bid.
Simon’s warning was delivered in a letter sent to General Growth a day after the company essentially rebuffed Simon’s hostile
takeover bid.
State environmental regulators now must consider leaving contamination in the ground so long as it doesn’t threaten health
Chapter, heavily populated by developers, hopes to guide sustainable development.
The commercial real estate slump is prompting several Indianapolis brokerages to add property-management services to their
portfolios or bolster existing ones.
Strip-center specialist Sandor Development Co. is moving its headquarters to Hamilton County after almost 50 years
in Indianapolis.
Simon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt
rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
Hall & House Lumber Co. in Westfield will become part of one of the largest distributors of lumber and building materials
in the nation, once the purchase of its parent is completed next month.
Wall Street today is cheering Simon Property Group Inc.’s giant bet on the future of retail real estate, a sector that
appeared left for dead just months ago. The nation’s largest mall owner has offered $10 billion to take over its
nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation’s largest mall operator.
Resource Commercial Real Estate is one of a handful of local real estate brokerage firms angling to take over an affiliation
with Colliers International.
More industrial construction is going on in Indiana than in any nearby state.
Locally based Broadbent Co.’s legal battles with lenders have escalated, pushing one of its 34 strip malls into bankruptcy
and prompting Huntington National Bank and PNC Bank to sue to collect principal owed on loans tied to four more.
Bids for one or both of the properties will be accepted from Feb. 17 through March 16 at the Clerk-Treasurer’s Office
at 70 E. Monroe St.
Strip-center owner and developer Sandor Development Co. is moving its headquarters to Hamilton County after almost 50 years
in Indianapolis.
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly
that number within the next year.
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication
book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious
reader.
Kmart’s announcement that it will close its store in Connersville in May will put 59 employees out of work. Fayette County,
where the city is located, already is strapped by steep job losses.
Sen. Patricia Miller will put on hold a bill that would have have stripped the Indianapolis Historic Preservation
Commission
of much of its authority. The bill was
prompted by incidents including a dispute over St. John United Church of Christ.
The 1,000-room J.W. Marriott isn’t even finished and support already is emerging for a second downtown hotel that
would rival it in size.
The law firm Plews Shadley Racher & Braun LLP has spent more than $1 million to add the 1871 Eden-Talbott house to its
campus in the Old Northside Historic District.