Light in the gloom
More industrial construction is going on in Indiana than in any nearby state.
Real Estate
Articles
Banks suing Broadbent, pushing one strip center into bankruptcy
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.
City of Franklin selling two buildings, including former City Hall
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.
Development firm Sandor leaving midtown for Carmel
Strip-center owner and developer Sandor Development Co. is moving its headquarters to Hamilton County after almost 50 years
in Indianapolis.
HHGregg’s faster growth boosts risk, potential rewards
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.
Herb Simon purchases Kirkus book review journal
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 closing adds to Connersville jobless woes
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.
Senator backs down on bill altering historic-district rules
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.
ICVA chief: Downtown Indianapolis will need another big hotel
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.
Law firm adds Old Northside mansion to its campus
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.
CVS settles Indiana complaint over 2 pharmacists
Pharmacy giant CVS will pay $1.95 million and verify that all of its pharmacists are licensed in Indiana to settle a state
complaint that pharmacists with expired licenses dispensed prescriptions for several years at two of its drugstores.
Up for sale: Depression-era former post office in Franklin
The City of Franklin is offering two vacant buildings for sale, including the 1936 post office that served as Franklin’s City
Hall from the early 1980s until 2008.
Up for sale: Depression-era former post office in Franklin
The City of Franklin is offering two vacant buildings for sale, including the 1936 post office that served as Franklin’s City
Hall from the early 1980s until 2008.
Owners, developers see silver lining in health care real estate
Health care real estate has survived the nation’s weak economy better than most sectors, and some owners and developers
think it’s positioned to thrive.
UPDATE: Steak n Shake confirms new corporate HQ
The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming
a story in IBJ‘s Feb. 8 print edition.
Roundup: People bakery replaces former dog bakery
Check out a roundup of restaurant and retail news, including a new bakery in Irvington, a replacement for a Starbucks in Indianapolis
and a new pizza joint in Franklin.
Indy turns architectural corner
A Ball State architect thinks Indianapolis residents will like what they see in the new J.W. Marriott hotel downtown and beat
drums for more interesting buildings.
UPDATE: Simon shares climb after profit beats estimates
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
Underrated entrepreneurs
The Indianapolis area is home to myriad unsung entrepreneurs who run interesting companies, make money and create good jobs.
Here are some of them.
Simon Property’s quarterly profit tumbles
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.