Former Lifestyle gym building target of foreclosure
The owner of the building at 4225 E. 82nd St. owes $4.9 million on a $7.4 million loan, according to the suit. The tenant, Lifestyle Family Fitness, closed the location in November 2011.
Retail Development
Articles
Kite continues Southeast push with $37.3M in acquisitions
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
Developer close to starting project at 116th, Springmill
Gershman Brown Crowley Inc. is in the process of getting design approval from the city of Carmel for a 9,600-square-foot retail building and a 13,200-square-foot CVS pharmacy.
Simon’s Rushmore Mall loan sent to servicer, Fitch says
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
Site of historic church being shopped for retail development
The 4.5-acre site of the St. John United Church of Christ is back on the market following the settlement earlier this year of a lawsuit between the church and the city.
INSIDE DISH: Carmel eatery unafraid to break a few eggs, rules
Restaurateur Larry Hanes stuck to his guns in creating Eggshell Bistro, bending conventions with eclectic decor, artisanal coffees, and a simple menu with restrained portions.
LA Fitness buys site near Washington Square, boosting area
LA Fitness plans to build a gym on the former home of a Loews movie theater adjacent to Washington Square Mall in the latest sign of progress for a struggling retail submarket.
Kite Realty seeks $52 million in share offering
Kite Realty Group Trust Inc. is selling 10.5 million new shares at $5.20 per share in an offering set to raise at least $52 million for the Indianapolis-based retail developer.
Keystone Group picked for Butler mixed-use project
The university chose Keystone over Kite Realty Group and Lauth Property Group to build housing, retail and parking worth up to $45 million.
Developer targets long-empty College Avenue retail building
Teagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from an attempt—since withdrawn—to demolish the structure.
Settlement allows Broadbent to keep downtown HQ
The Indianapolis developer will continue to own its corporate headquarters at 117 E. Washington St. after reaching a settlement with two banks that had filed a lawsuit to foreclose on the building.
VIDEO: Work on Fashion Mall at Keystone enters home stretch
Much-anticipated upgrades to the high-profile Fashion Mall at Keystone will be ready for shoppers by mid-November. Mall owner Simon Property Group provided a sneak peek on Wednesday of work under way.
Fishers Marketplace gets new life under Thompson Thrift
A high-end apartment project and neighborhood retail center are scheduled to break ground soon as the first components of the retooled Fishers Marketplace development at State Road 37 and 131st Street.
Luxury-outlet strategy puts Simon on top of mall industry
Luxury outlet malls—where upscale retailers such as Coach Inc. and Michael Kors Holdings Ltd. hawk discount goods—are now the main source of expansion for the Indianapolis-based real estate investment trust, the country’s largest.
Major Westfield development projects making progress
Several big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.
City to consider connectors for downtown garage
The developer of a five-story parking garage downtown is seeking city approval to build two upper-level pedestrian connectors to offer easier access to the garage, especially for employees of nearby OneAmerica Financial Partners Inc.
Simon boosts dividend, outlook after strong second quarter
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
Meadows neighborhood developer aims for retail
New housing, health facility could help attract grocer.
A year later, Circle Centre Nordstrom vacancy lingers
Without a rapid-fire lease deal and renovation, the former Nordstrom anchor space at Circle Centre will sit idle for a second holiday season. The more general-audience-oriented department store chain Macy’s remains the odds-on favorite to replace Nordstrom, though it would take only a portion of the available space.
Interchange project changes retail prospects on west side
Land at the Waterfront Office Park that sat vacant for decades is now ripe for retail development thanks to the reconfiguration of a west-side interstate interchange.