Sears to close 96 more stores, citing ‘difficult’ environment
The shutdown of 96 more Sears and Kmart locations will leave just 182 outlets for the company, which was once America’s biggest department store chain.
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As other retailers stumble, dollar stores are on growth tear
Consider the humble dollar store: modest in size, basic in appearance and laser-focused on selling cheap stuff. But don’t discount them: These stores are big business.
Former HHGregg, Marsh exec takes reins at struggling retailer Pier 1
Retail industry observers are speculating that the appointment of Robert Riesbeck is likely to mean a bankruptcy for Pier 1 in the near future, based on his track record.
Kite Realty Group lands Nora Plaza in $29M deal
The 139,743-square-foot retail center at 1300 E. 86th Street, anchored by Target, Marshalls and Whole Foods, was sold by a joint venture consisting of RPT Realty and an institutional partner.
Arbor Homes expands into Louisville market with acquisition
The deal marks Arbor’s first entry into a territory outside of central Indiana since it was founded in 1994. Arbor is the Indianapolis area’s most active home builder.
In first major project since Waterside exit, Ambrose plans logistics center campus in Mount Comfort
The Indianapolis-based firm on Tuesday broke ground on a $78 million, 508,104-square-foot building—the first of four planned structures as it shifts focus to industrial development.
Student: CVS workers rejected Puerto Rico ID, asked for visa
CVS apologized and said it was investigating after a Purdue University engineering student was denied the purchase of over-the-counter cold medicine.
Flat12 Bierwerks changing its name under new ownership
The branding change comes 11 months after the 7-year-old brewery was acquired by Indianapolis-based Books & Brews.
McDonald’s CEO pushed out after relationship with employee
The fast food giant said former president and CEO Steve Easterbrook demonstrated poor judgment, and that McDonald’s forbids managers from having romantic relationships with subordinates.
Memory Bank: The monument at nighttime in 1951
The 284-foot-tall monument is the largest of more than 200 Civil War memorials in the U.S. and the only one that combines large-scale sculpture in bronze and stone.
Condos are in the works for Carmel’s central core
City officials have long sought to diversify housing options by introducing for-sale condominiums and town houses into a market saturated by hundreds of high-end apartments.
St. Vincent faces expensive growth options
The hospital system’s 45-year-old campus will likely need hundreds of millions of dollars in upgrades in coming years to keep it competitive long term.
Program to spur growth is not limited to poor communities
The area that includes the Fletcher Place neighborhood and the southeast corner of downtown is one of the hottest parts of Indianapolis, yet it’s included in a federal program designed to spur investments in poor neighborhoods.
Not-for-profit plans $12M welcome center, museum for ethnic-food district
The International Marketplace Coalition has purchased a former Value City Furniture location on Lafayette Road to serve as a focal point for the district, which includes more than 100 restaurants.
Retailers seek to stretch shortened holiday shopping season
Faced with the shortest holiday shopping season since 2013, retailers are trying to figure out ways to get into the minds of shoppers sooner.
Simon Property meets, exceeds 3Q analyst expectations
The Indianapolis-based real estate investment trust topped Wall Street expectations with its revenue in the third quarter and matched predictions for a key performance measure.
Gerald Paul, co-founder of Paul Harris Stores, dies at 95
In addition to co-founding and leading national women’s clothing retailer Paul Harris Stores, Gerald Paul was an active philanthropist in local arts, education and Jewish causes.
Downtown condo features great views, fresh renovation
Jeff and Anna Tegethoff spent 16 months renovating a condo at 429 N. Pennsylvania St. into what he calls an “urban oasis.” But six months after moving in, they’re putting the house on the market.
Carmel-based builder that launched during recession just keeps growing
Old Town’s sister companies are continuing to develop projects in Carmel, working on a large mixed-use development that will help transform downtown Westfield, and expanding their reach into West Lafayette, where the company is part of a $1 billion project being constructed next to Purdue University’s campus.
Residential Real Estate: Marketplace Stats for October 25, 2019
Inventory remains low. As of Sept. 1, the region had just two months of supply—10% less than at this time last year—meaning it would take just two months to sell out the current inventory of houses if no more came on the market.