Borders liquidation another blow to retail real estate
Borders Group Inc.’s proposed liquidation will increase available U.S. retail space by about 6.3 million square feet as the industry struggles with near-record vacancy rates and stagnant rents.
Retail
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Borders turns the final page, will close all stores
The chain of bookstores will shutter its remaining 399 locations by September, including the few left in central Indiana. Company brass blame the changing book industry, eReader revolution, and turbulent economy.
Irvington scores Ossip, set for streetscape project
The Irvington retail trade area stands to get a big boost from two projects set to begin this fall: Ossip Optometry’s renovation of a historic building and a $2.9M makeover of East Washington Street designed to make the business district a draw for pedestrians.
Jillian’s set to vacate ground floor of downtown building
An unidentified restaurant and bar is set to sign a lease by Sept. 1 to assume the Meridian Street space Jillian’s has agreed to relinquish as part of a lease dispute with its landlord. The entertainment complex will continue to operate on the second and third floors.
Judge approves Borders auction, liquidators open bid
Borders Group, the nation's second-largest bookstore chain that once operated over 1,000 stores, appears headed for liquidation after a judge on Thursday approved its motion to auction itself off with an offer from a team of liquidators as its opening bid.
INSIDE DISH: Meat-and-potatoes Murphy’s makes subtle updates
Murphy's Steakhouse may seem frozen in time, but owner Craig Stonebraker has expanded its footprint, revamped its menu and prepared for exterior upgrades.
Kilroy’s blazes trail into the heart of Broad Ripple
Plan to take over former Cardinal Fitness facility is likely to be opposed by Broad Ripple Village Association.
Chefs become teachers as appetite grows for fresh, homemade meals
Locally and nationwide, interest in live cooking classes taught by chefs has grown. Many such classes have abandoned a traditional in-kitchen experience, opting instead for “destination” demonstrations featuring local ingredients.
Massage franchise expanding Indiana presence
Scottsdale, Ariz.-based Massage Envy plans to open nine new locations in Indiana in the next year. Five of those should be in the Indianapolis area.
McNamara moving from Broad Ripple after 57 years
The florist is moving from the Broad Ripple retail space it has occupied since 1954. Local developer Buckingham Cos., which purchased the property in 2000, is preparing for the redevelopment of Monon Place.
Retailers post strong June sales numbers
American consumers, enticed by warmer weather and deep discounts of up to 80 percent on summer merchandise, went on a buying binge in June, helping many retailers deliver robust revenue gains.
Mike’s unveils new design for new carwashes
Two new carwash facilities in Anderson and West Lafayette will bring the Indianapolis-based chain to 39 stores.
M&I Plaza revamping entry, lands King David and Main Street Deli as tenants
The main entrance is getting a $1 million makeover as the 28-story building prepares to welcome two new restaurant tenants.
Will Biglari use Steak n Shake playbook at Cracker Barrel?
Biglari Holdings began scarfing up Cracker Barrel shares in March and now has amassed a 9.8-percent stake worth $109 million.
New Marsh exec hopes to grow market share
Marsh Supermarkets has hired grocery executive David C. Siegel to the new position of senior vice president of merchandising and marketing strategic initiatives. He follows new CEO Joseph M. Kelley from Price Chopper in New York.
INSIDE DISH: King David Dogs nabs bigger digs
Thinking his emporium for all-beef franks has maxed out its sales potential, Brent Joseph cut a deal to relocate to an epicenter for downtown office complexes and triple seating.
Finish Line posts 20-percent jump in earnings
Athletic shoe and clothing retailer Finish Line Inc. said Thursday that its fiscal first-quarter earnings and revenue rose, but revenue fell just short of Wall Street's expectations.
16 Park project helping to transform Indianapolis neighborhood
The first building of a new complex on near-north side is set to be completed in August
Indy taco-truck business rolling into other cities
West Coast Tacos, which led a mobile culinary trend in Indianapolis last summer, plans to expand into Carmel and Fishers, as well as Bloomington and West Lafayette, in the next few months.
Well-located Carmel retail center plagued by vacancies
Merchants’ Square shopping center, built in 1970 as the enclosed Keystone Square Mall and redeveloped into an open-air center and renamed in the mid-1990s, is riddled with vacancies and bracing for another high-profile departure, despite its prime location.