Simon agrees to buy rival Taubman Centers for $3.6 billion
The deal sends a resounding message that Simon remains a devout believer in retail real estate, even as the rise of e-commerce has knocked the sector out of favor across the globe.
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Memory Bank: Sanding parts at the GM stamping plant
This photo was taken in the 1940s of a woman sanding parts using a power grinder at the plant. T
Land trust secures final property for nature preserve along White River
The Central Indiana Land Trust Inc. plans to open the 12.2-acre White River Bluffs Nature Preserve in 2021.
Macy’s to close 125 stores, shed 2,000 corporate jobs
Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one-fifth of Macy’s current total. They include about 30 that are in the process of closing and account […]
Charter operator spending $10M to relocate elementary school to former warehouse
Paramount Schools of Excellence bought the 55,000-square-foot building in the Cottage Home neighborhood for about $3.2 million.
Simon Property’s fourth-quarter performance exceeds expectations
The Indianapolis-based shopping mall giant topped analyst predictions for funds from operations and revenue in the latest quarter.
Report: First month of Illinois pot sales netted nearly $40M
Despite shortages, Illinois residents bought more than $30.6 million in January, while out-of-state visitor sales totaled $8.6 million. Dispensaries sold more than 970,000 products.
Earth Fare grocery chain bagging all of its stores
Following a round of closures earlier in the year, the high-end, organic-heavy chain says “challenges in the retail industry” have hindered its ability to pay off debt.
UPDATE: Simon, partners bid $81 million for bankrupt Forever 21 chain
The deal is the latest evidence of Simon’s willingness to step into an ownership role to rescue mall chains that overexpanded and made other blunders as the internet roiled the fashion-retailing industry.
Memory Bank: Governor, first lady meet with Eleanor Roosevelt
Democrat Paul McNutt was governor from 1933 to 1937, after serving as dean of the Indiana University Law School and then state and national commander of the American Legion.
Q&A: Polina Osherov on St’artUp 317
Pattern Indy Editor-in-Chief Polina Osherov sat down with IBJ to talk about the third season of St’artUp 317, a program by the magazine and Indy Chamber that pairs underused first-floor commercial spaces in commercial corridors with artists, creators and producers looking for retail space.
Amazon’s latest milestone: 150 million Prime members
The staggering number of Prime members is sure to spook other retailers. Analysts have said Prime subscribers typically spend more of their money at Amazon than other places.
Saladworks to launch aggressive Indiana franchising strategy with Westfield store
The CEO of a fast-casual restaurant that offers customizable salads said there’s potential for 20 franchised locations in central Indiana.
With restaurateur Brown out, Oesterle seeks new tenant for old 38th Street bank building
Local restaurateur Neal Brown has scrapped plans to open what he had planned to call Midtown Brasserie in a 73-year-old art deco building at 215 E. 38th St.
Buyers move to used vehicles as new autos hit record prices
Consumers bought an estimated 40.4 million used vehicles last year, likely passing the old record of 40.2 million set in 2018, according to figures from the Edmunds.com auto pricing site.
Crestline plans $21M mixed-income apartment project on near-north side
The Indianapolis Neighborhood Housing Partnership bought the property on Meridian Street last year in hopes of finding a developer that would create affordable housing. Indianapolis-based Crestline fit the bill.
Local Bar Louie restaurants escape parent’s bankruptcy-related closure list
Gastropub chain Bar Louie Restaurants filed for Chapter 11 bankruptcy on Monday and closed 38 corporate-owned restaurants across the country. But the Addison, Texas-based chain’s two Indianapolis-area locations are franchises and remain open.
Central Indiana existing-home sales finish 2019 with surge
Sales of existing single-family homes rose in three of the last four months of 2019 in central Indiana, capping off a sluggish year for transactions amid rising prices and low inventories.
Memory Bank: Shopping at Standard Grocery
By the early 1900s, groceries became self-service stores, in which customers would pick up their own goods and pay for them at check-out stations, like the ones shown in this Aug. 9, 1941, photo at a Standard Grocery.
Veterinary practice growing at greyhound speed
Indianapolis-based Pet Wellness Clinics opened its first clinic in Fishers in 2005. The company became profitable a year later and has been in the black—and growing—ever since.