MANN: Commercial real estate is next mortgage crisis
The cresting wave of maturing commercial real estate debt is the second act in our nation’s credit crisis.
Real Estate
Articles
‘Dewatering’ system creates space, keeps new Marriott’s basement dry
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
Anticipated development near stadium isn’t materializing
Not long ago, developers seemed to vie for every square inch of open ground in the vicinity of the just-completed Lucas Oil
Stadium. These days, the entire neighborhood has been pushed, if not into a financial deep freeze, then at the very least
to the back of the crisper drawer.
Commission OKs Ameriplex, Rexnord tax abatements
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for
a mammoth development known as World Connect at AmeriPlex.
UPDATE: Simon remembered for vision, courage
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic
cancer.
First-time homebuyers boosting residential sales
Low-priced homes and foreclosures are driving a large chunk of residential real estate sales in Indianapolis, largely due
to first-time home buyers taking advantage of a federal tax credit, according to a report released today by Re/Max of Indiana.
‘Community icon’ Melvin Simon dies
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
Groups take sides in debate over Sunday alcohol sales
Supporters and foes of repealing Indiana’s ban on Sunday take-out alcohol sales made their cases before a group of lawmakers yesterday in a preview of what could be a divisive debate in the next legislative session.
Blockbuster to close as many as 960 stores nationwide
Blockbuster is planning to close as many as 960 stores by the end of next year. That would shrink the video rental chain by
more than 20 percent as it struggles against stiff competition from Netflix and Redbox.
Apartments near downtown canal slated for rehab
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant
downtown properties he plans to convert to market-rate apartments.
Indiana lawmakers to discuss Sunday alcohol sales ban
Supporters and foes of repealing Indiana’s ban on Sunday take-out alcohol sales plan to make their case before a group of
lawmakers.
U.S. retail sales rose more than expected in August
Retail sales jumped in August, spurred by widespread gains beyond the increases of auto and gasoline sales that economists
expected.
Anderson siblings buying city’s Mounds Mall
Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six
years.
Music Mill to reopen again under new owner
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators,
has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last
night that he has purchased the Music Mill and plans to reopen it Oct. 12.
Area home-sale agreements level off, prices still falling
The housing slump may be weakening in the nine-county Indianapolis area, if a report released today by F.C. Tucker Co. is
any indication.
Adjacent Central Canal parcels go on the market
The owners of two industrial properties that span an entire city block along the Central Canal downtown have put their
properties up for sale with an eye toward redevelopment.
Ex-Lauth executive: ‘Every day is a struggle’ after a year of unemployment
Michael Hartman earned a six-figure salary as a vice president at Lauth Group Inc. until he was laid off in early 2008.
Since then, he’s struggled to find a job—any job that would allow his family to stay in their Westfield home.
Latin market and tapas bar opening in Fishers
The new market, which will also offer catering services, is in a strip center owned by locally based
Centre Properties and anchored by Beauty Brands and Panera.
Flush with cash, developer Simon revives hunt for acquisitions
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed acquisitions.
Assessing downtown cleanliness
Indianapolis’ downtown has its strengths. But what are those smells?