Pop-up retailers emerging in Indianapolis
With the retail vacancy rate hovering around 13 percent locally and nationally, temporary retailers are becoming a fact of life in malls, strip malls and downtowns around the country.
Retail Development
Articles
Retail REIT profits may slip on store bankruptcies
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
Simon CEO compensation jumps to $24.6 million
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
Bank seeks foreclosure on two strip centers
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city’s northwest side and Lakewood Shops on the northeast side.
City sells North of South bonds, locks in 5.2-percent rate
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
Whitestown interchange lands $8M travel plaza
A growing distribution hub anchored by Amazon.com and MedcoHealth Solutions along Interstate 65 in Boone County has inspired plans for an $8 million truck stop and travel plaza.
Altum’s staying put at current west Carmel location
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn’t found a buyer. Kroger nixed a deal to buy its property last fall.
Retail/office building planned for site at Fort Ben
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.
Office/retail building planned for Fort Ben
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge as it works toward breaking ground this year on what it expects will be a 45,000-square-foot building geared toward retail and office tenants.
Volunteers market growing retail space along East 10th
Six projects with more than 25,000 square feet of space will be completed this year and in 2012 along the 10th Street corridor, which runs from near Rural Street east to Sherman Drive.
Browning set to start retail project; another in works
Browning Investments is close to breaking ground on a small retail strip center on West 86th Street in front of St. Vincent Hospital and is in the early stages of planning a larger retail center at 131st and Meridian streets.
Developers need Greenwood’s OK for disputed land
Now that the Indiana Supreme Court has settled the lengthy Greenwood-Bargersville annexation battle, developer Mike Duke is ready to build on a 60-acre tract in the heart of the disputed territory.
Castleton Plaza seeks bankruptcy reorganization
Shopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter 11 filing follows a request to foreclose on the property from the center’s lender.
Duke Realty sells offices in shift toward industrial
Strategy also calls for greater Southeast presence, less investment in the Midwest.
Entrepreneurs plan microbrewery for Fountain Square
A group of entrepreneurs plans to open Fountain Square Brewing Co., possibly this summer, in a former carburetor-repair shop.
Simon Property’s quarterly profit rises on improving retail sales
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
Brenwick turns over commercial sales, leasing at Village of West Clay
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
Ritter’s Frozen Custard franchisees reopening stores
As a new owner revamps the Ritter’s business plan, at least four of the frozen custard stands in the area have either opened or are set to reopen in the same locations where they previously operated.
Not much optimism in commercial real estate outlook
Another challenging year is in store for commercial real estate thanks to high unemployment, a still-struggling housing market and an unforgiving credit environment, Cassidy Turley plans to report Thursday at its annual State of Real Estate event.
Commercial real estate will continue its climb back in 2011
Medical office likely will be the strongest sector, followed by apartments.