Biglari was persistent in pressing Western Sizzlin deal
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure
of the $39 million transaction.
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure
of the $39 million transaction.
The National Association of Realtors said Monday that home resales rose 10.1 percent in October, spurred by a tax credit that
buyers
expected to expire at the end of the month.
The renewed credit deal was extended for two years and includes an option to boost the value to $1.05 billion.
Shoe Carnival Inc.’s quarterly same-store sales, which measure revenue from locations open at least a year, climbed 10.2 percent.
The second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial
real estate loans.
Airport concessionaires stung by a 10-percent drop in passenger traffic have asked the Indianapolis Airport Authority to ease
a policy that was implemented more than 10 years ago to keep prices in line with what consumers pay outside
the airport.
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The
Venu site
at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
The bar, which isn’t yet named, will be Baker & Daniels lawyer Trevor Belden’s first bar.
Hot Box Pizza plans to open a downtown location in the Harness Factory Lofts building, and WineTyme, a new local shop selling
wines, craft beers and gourmet food, is coming to Fishers.
The troubled Indianapolis City Market is looking East for a new direction. This summer, its executive director, Jim Reilly,
visited Philadelphia and Cleveland to observe their successful urban markets and seek pointers that might be applied here.
Indianapolis parking garage operator Denison shuns sexy LED lighting for Fishers supplier’s induction lights.
Authorities are considering pursuing criminal charges against Christopher P. White and other executives at Premier Properties
USA Inc. in connection with deepening troubles at the local development firm, sources familiar with the matter told IBJ.
Premier Properties USA Inc. has eliminated about half its headquarters staff—more than 40 employees—as banks seize
several of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans,
illegally redirected rent payments and check fraud.
Wachovia Bank has begun foreclosure proceedings on one of Premier Properties USA Inc.’s most prized developments,
a giant Ohio lifestyle center anchored by Target and J.C. Penney.
Premier Properties USA Inc. is scrambling to keep up with bills for basic services including snow removal,
security and interior design—more signs of financial troubles for the developer of Metropolis in
Plainfield and the proposed Venu project in Indianapolis.
An IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.
Speedway officials broke ground Thursday morning on the first phase of a $500 million redevelopment project they hope will transform the small town into a year-round racing-themed destination.
Allen Commercial Group is offering for sale the first of 30 condos in its flagship nine-story Allen Plaza building along Pennsylvania
Street downtown. And the firm is working on a phasing plan for its much-larger Penn Centre proposal.
Buyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
WestGate@Crane Technology Park is adding office buildings for defense contractors next to the secretive Naval Surface Warfare
Center at Crane.