NCAA approves $35M addition to Indianapolis headquarters
The NCAA executive committee on Thursday approved a $35 million addition to the governing body’s headquarters in White River
State Park in Indianapolis.
Real Estate
Articles
Anderson gas-station chain sues BP after 32-store deal sours
Ricker Oil’s Oct. 22 suit claims British petroleum giant BP is charging unjustified royalty fees while delivering no boost
from its national advertising, its proprietary IT system or its bulk purchase pricing.
Steak n Shake’s Biglari adds intrigue by buying stake in insurer
The Indianapolis-based company’s CEO revealed earlier this year that he intends to use Steak n Shake as a holding company
that will pursue purchases “either related or unrelated to its ongoing business activities.”
RCI to become Wyndham Exchange; says Carmel jobs are safe
Despite a swooning economy that has hammered the time-share condominium industry over the last 18 months, Resort Condominiums
International continues to outperform its market. That’s not to say there hasn’t been some pain at
the company formerly headquartered in Carmel.
Marketing a former nerve gas site
Will it be harder to attract businesses to the Newport Chemical Depot than to sell a house where a grisly murder took place?
Historic namesake for German Church Road facing demolition
Historic preservation groups are fighting to save a 1914 church at the northeast corner of Washington Street and German Church
Road in Cumberland. The congregation of St. John United Church of Christ has been working on plans to build a new church on
Carroll Road and struck a deal to sell the old one to a developer. The plans are rumored to include demolition
to make way for a CVS store.
Duke Realty reports massive third-quarter loss
Big write-downs on raw land and projects under development led to a wide third-quarter loss for Duke Realty Corp.
Downtown upscale eateries cancel their lunch plans
While fast food remains a favorite for value-minded patrons, several higher-end restaurants in the Mile Square and its nearby
environs have decided in the last year to pull the tablecloth out from under their lunch service.
Trustee seeks bids for former Fall Creek YMCA branch
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down and redeveloping
the prime 2-acre site at 860 W. 10th St.
Center Township seeks redevelopment bids for former YMCA
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down the building
and redeveloping the prime 2-acre site.
Concrete firm agrees to pay $29M in price-fixing case
A lawyer says Irving Materials Inc. has agreed to pay $29 million to settle a class-action antitrust lawsuit alleging it and
six other companies conspired to fix the price of ready-mixed concrete.
With airport hotel stalled, Hendricks County makes its move
Hendricks County’s moves to entice a developer to build a conference hotel in Plainfield could further crimp plans
for
a
hotel attached to the new Indianapolis International Airport terminal.
Demand is steady for Maxwell Apartments
Locally based Barrett & Stokely Inc. has taken over management of The Maxwell Apartments downtown at 530 E. Ohio St. The community
already is about 50 percent occupied.
Lilly to move 1,000 from Faris campus
As it shrinks its work force, Indianapolis-based pharmaceutical firm Eli Lilly and Co. will move more than 1,000 employees to its corporate
center
by mid-2010.
Hendricks County offers land for hotel development
The Hendricks County Convention and Visitors Bureau said Monday that it is asking for proposals to develop a full-service convention hotel on up to 18 acres in Plainfield at the intersection of Interstate 70 and Highway 267.
Plans emerge for vacant former Value City store
Two local entrepreneurs have partnered to develop a new conference and event center in the former Value City department store
near Lafayette Square Mall.
Steak n Shake nearer to merger with steak chain
Under terms of the deal, Steak n Shake will pay Western Sizzlin shareholders $22.9 million and Western will pay its shareholders
a $15.9 million stock dividend, making the total deal worth about $38.8 million.
Haunted houses avoid recessionary letdown because they offer escape
Even in bad times
people want to be entertained.” Nationwide, roughly 2,000 haunted houses, hayrides and other attractions
rake in $1 billion annually of the $7 billion consumers spend on Halloween, according to St. Louis-based trade group Hauntworld
Inc.
Bankruptcies, store closings help Halloween shops scare up space
Like zombies coming to life in a low-budget horror flick, the Halloween specialty shops that invade empty store fronts are
groaning with activity.
Opportunists hunt deals in commercial real estate
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.