PNC Center pitching backside as restaurant site
Retail brokers say the location, at Illinois and Maryland streets in the heart of downtown’s dining district, is sure to generate plenty of interest.
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Upscale steakhouse coming to Illinois Building
Cleveland-based Hyde Park Prime Steakhouse has agreed to occupy 8,000 square feet in the building’s corner space at Illinois and Market streets, joining Giordano’s pizzeria on the ground floor.
Fast-fire pizza chains preparing to blitz Indy area
A pizza war is heating up in Indianapolis. Additional players in the new and trendy fast-fire sector are charging into the area.
Hampton Inn slated for Keystone at the Crossing
Construction on the 125-room hotel, part of PK Partners’ $80 million mixed-use development, should start later this year with an opening in 2016.
Menard to build northeast-side store on vacant-hotel site
The Wisconsin-based home improvement retailer will build a bigger store near Interstate 465 and Pendleton Pike to replace one nearby at Pendleton Pike near Shadeland Avenue.
Macerich faces investor pressure after spurned Simon offer
Land & Buildings Investment Management is teaming with fellow activist firm Orange Capital to push for changes at Macerich Co., the mall owner that rejected a $16.8 billion takeover bid from Indianapolis-based Simon Property Group Inc.
Sears to gain $114 million from real estate pact with Simon
Sears will transfer 10 properties valued at $228 million to a company that it will own jointly with Indianapolis-based Simon Property Group, the companies said Monday.
Shareholder coup of Steak n Shake parent firm fails
A Minnesota-based investment group that for months has been waging a campaign to oust Sardar Biglari from atop Steak n Shake’s parent company weathered a resounding defeat Thursday afternoon.
Downtown’s Punch Burger expanding to Carmel
The first franchise location for Punch Burger will be at 12525 Old Meridian St. in space that formerly housed When Eddie Met Salad. It’s expected to open in July.
Walgreen aims to close about 200 stores nationwide
The store closings amount to about 2 percent of the 8,232 Walgreens drugstores it runs in the United States, Puerto Rico and the U.S. Virgin Islands.
Sun King plans small brewery, tap room in Fishers
The 6,000-square-foot facility in North by Northeast Shopping Center will not interfere with Sun King’s hopes to open a much larger brewery and event center about a half-mile away. The bigger facility is on hold while legislators debate a bill over brewery production limits.
Simon Property plans $2B share buyback over 2 years
The Indianapolis-based landlord will either purchase the shares on the open market or in privately negotiated deals, Simon said.
Developer buys former Double 8 grocery in SoBro
An affiliate of PK Partners purchased the property at the southeast corner of 46th Street and College Avenue that for decades housed a Double 8 Foods store and is searching for a restaurant or retail tenant.
Finish Line tightens laces, rebounds in fourth quarter
Reducing expenses and rejiggering inventory helped the Indianapolis-based retailer of athletic apparel finish a disappointing year with a strong kick.
Dissident shareholder group fails to get key support in Biglari battle
Groveland Capital, which wants to oust Sardar Biglari, failed to get support from the influential advisory firm Institutional Shareholder Services. But ISS agreed Biglari Holdings has serious governance problems.
Valet services expand beyond the expected clients
Valet service in central Indiana has expanded beyond upscale restaurants and luxury hotels to hospitals, casual eateries and even a grocery store.
States ask court to keep RadioShack from selling customer data
Twenty-two states, including Indiana, have rallied around Texas in its legal challenge to RadioShack’s plan to sell personal data on 117 million customers.
Westfield rolls out stricter reporting rules for resale shops
The Westfield City Council approved an ordinance Monday night that requires secondhand stores, pawn shops and metal dealers to report transactions within 24 hours to an online database.
UPDATE: Simon increases bid for Macerich to $23B in ‘final offer’
By buying Macerich, the largest U.S. mall owner would expand its holdings on the West Coast and add top-tier properties that rarely come up for sale. The offer will be withdrawn if Simon is unable to meet with Macerich to negotiate terms of an agreement by April 1.
Police stations open doors for safer Craigslist deals
Police stations across the country have started offering space for these business exchanges, saying it’s a win-win-win—strangers meet in a safe spot, police help prevent crime, and the danger of doing business on Craigslist decreases.