Owners of failing malls ‘on their knees’ as buyers disappear
Only about $3 billion of retail real estate changed hands in April, a 27 percent drop from a year earlier and the lowest monthly tally since February 2013.
Retail
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Local jewelry store to close its doors after 41 years in business
The family-owned jewelry business, which first opened in Glendale Town Center in 1977 before moving just north of 96th Street in 1991, plans to close Aug. 31—unless a late-developing plan to sell the store comes to fruition.
Cookie shop in Circle Centre reopens under new franchisee
The owner of Gifts and Convenience, a shop in the downtown Embassy Suites by Hilton hotel, is the new franchisee for the mall cookie and desert shop, which closed early this year after a lawsuit from the landlord.
IBJ PODCAST: Cafe helps catalyze revival on Washington Street, reclaim lives
Maria Bertram had a great career as an engineer for Eli Lilly and Co., so why did she chuck it to open a little cafe in a distressed neighborhood?
Building owner disputes Fletcher Place pizza place’s eviction claim
Locally based restaurant South of Chicago Pizza & Beef says it is being forced out of its longtime location. But the new owner of the building says it has no intention of evicting the restaurant.
Indiana appeals court finds for Block 20 Athenaeum developer
The developer, along with the Indianapolis Historic Preservation Commission, were at the center of an appeal brought by neighbors of the historic building who oppose the project.
Starbucks raises price of a brewed coffee in most U.S. stores
The company, which operates more than 28,000 stores in 77 countries, said inflation in product and operating costs prompted the increase.
Circle Centre mall to renovate its entrances
The project is the first step in a multi-million-dollar upgrade of the downtown retail hub. Also in Property Lines: Crew Carwash, Joella’s Hot Chicken, Enterprise Rent-a-Car, Poke Guru and Game Paradise.
Designer Kate Spade found dead in apartment
Her former company, Kate Spade New York, has over 140 retail shops and outlet stores across the United States and more than 175 shops internationally.
Big quarterly loss by Lids sends Genesco’s stock reeling
Zionsville-based Lids Sports Group, which operates more than 1,100 stores, saw sales decline nearly 11 percent in the latest quarter. Genesco is seeking a buyer for the unit.
Athenaeum president to leave post at 124-year-old landmark, travel globe
After 11 years in charge of preserving and reinvigorating the landmark of local German culture, Cassie Stockcamp plans to decamp for Africa, South America and Southeast Asia.
Simon hopes to do ‘transformational redevelopment’ of Sears space at Castleton Square mall
The two-story location is one of 63 Sears that parent Sears Holdings announced Thursday were “non-profitable” and would be closing.
Sears Holdings to close Castleton Square mall store
The Castleton Square store is among three in Indiana that the struggling retailer included on its latest closure list.
Walmart offers employees new perk: cheap access to college
America's largest private employer hopes the new benefit will help it recruit and retain higher quality entry-level employees in a tight U.S. labor market.
Starbucks closes stores, asks workers to talk about race
Tuesday’s training sessions were personal, asking workers to break into small groups to talk about their experiences with race.
De Beers planning historic shift in diamond retail market
The company announced Tuesday that it will start selling man-made diamond jewelry at a fraction of the price of mined gems, marking a major strategy change for the world’s biggest diamond miner.
Indiana convenience stores find new way around cold beer ban
The announcement on Thursday, ahead of the Memorial Day weekend, was the latest attempt to combat liquor stores’ exclusive right to sell cold carry-out beer in Indiana.
Group launches east-side retail discount program
The free card offers discounts at 18 east-side establishments, mostly restaurants and shops. Also in Property Lines: new drinking and dining options on the south side; Valvoline adds to local footprint.
Target revamps Indianapolis distribution center
Also: Drybar, Tavern at the Point, Russell Provisions and Huse Culinary
Flatland Kitchen helps Indianapolis-area restaurants develop a brand
The firm creates logos, designs menus, hand-paints signs and murals, and offers other visual design services to help local businesses create and convey a unique identity.