Real Estate & Retail
HHGregg's stock swoons after quarterly report disappoints
The Indianapolis-based retailer saw a big drop in earnings in its latest quarter on decreased sales, lower profit margins and higher advertising expenses, it said Monday.
St. Vincent sports practice to fill vacant Clay Terrace big box
St. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.
New Steak n Shake signage includes name of parent
Sardar Biglari, who operates San Antonio-based Biglari Holdings Inc., parent of the iconic Steak n Shake chain, wants the public to know who owns Steak n Shake, judging from new signage unveiled in Las Vegas.
HHGregg earnings sink on declining sales
The Indianapolis-based retailer saw a big drop in earnings in its latest quarter on decreased sales, lower profit margins and higher advertising expenses.
Lids acquiring Kentucky sporting goods chain
The CEO of a private equity firm that helped fund the Lexington-based Fan Outfitters chain said new regulations imposed by the Affordable Care Act prompted the group to look at the offer from Lids.
Athenaeum weighs bids for surface lot redevelopment
Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to the historic Athenaeum building.
Oesterle sells land to Angie's List, reaping millions
Angie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s the property, at well above its assessed value.
Greenwood, Whiteland try to spur, shape growth
Two Johnson County communities are determined to capture—and control—the next wave of suburban growth.
Duke's CFO heading to Chicago real estate firm
Christie Kelly is credited with playing a critical role at Duke in helping the company keep a strong financial position during the recession and economic recovery.
Westfield Farmers Market pulls plug on 2013 season
Organizers at the not-for-profit Downtown Westfield Association on Wednesday said the open-air market near City Hall will not operate this year. It had been scheduled for Friday evenings from June to September.
Downtown Lilly building fetches $90 million
American Realty Capital, a real estate investment firm based in New York City, bought the building on South Meridian Street occupied by Rolls Royce Corp. Lilly vacated the facility in 2010.
Wheels in motion to select developer of MSA site
City officials began interviewing candidates this week to redevelop a downtown parking lot where Market Square Arena once stood. The city last month received bids from six teams, the names of which have been provided by officials.
Kessler Mansion neighbors balk at business uses
An Indianapolis City-County Councilor is looking into the possibility of zoning violations at the massive north-side property. The mansion will host a camp for entrepreneurs in June.
Developer of Star building dubs project Pulliam Square
The buyer of the Indianapolis Star building has tapped into the newspaper's rich history by naming a mixed-use development to be built on the property Pulliam Square. Eugene C. Pulliam bought the newspaper in 1944 and his family led it for more than 50 years.
Convenience stores sue to sell cold beer in Indiana
An industry trade group filed a lawsuit Tuesday morning contending that Indiana liquor law is unconstitutional and unfairly benefits liquor stores.
Nancy Irsay puts party pavilion, home on market for $3.7M
Dozens of small charities have used the pavilion in south Carmel to host events, paying far below market rates.
Zionsville to share TIF revenue with school district
Zionsville's cash-strapped school district could collect almost $5 million from the town’s tax-increment financing district if an unusual land deal is finalized later this month.
Area homes sell at faster clip
Purchase agreements for existing homes in the Indianapolis area increased 13.2 percent in April. Home sales have jumped in each of the first four months of the year.
King David selling beer; South of Chicago expanding
The downtown hot dog joint has begun offering Sun King brews and has expanded its hours, while South of Chicago on Virginia Avenue is looking to take its deep dish pizza to Hamilton County.
Development may spawn TIF tug of war
The developer of a $17 million mixed-use project proposed for Broad Ripple is expected to seek a city subsidy—support that at least one City-County councilor believes should be reserved for neighborhoods starved for investment farther south.
Whitsett goes big with Star project
A local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
Local runners snap up Fishers firm's Boston tribute
Best known for a line of T-shirts inspired by ugly Christmas sweaters, upstart Fishers clothing company Vardagen got an unexpected spring boost from a design created to raise money for victims of last month’s Boston Marathon bombing.
Scam artist receives 34 years for home-sale scheme
Shela Amos, 57, led victims in Indianapolis to believe they were legitimately purchasing vacant homes that Amos did not actually own.
Developer planning $60M project near Ball State
Investment Property Advisors of Valparaiso hopes to build a four-story building wrapping around a six-story parking garage that will have 228 apartments and storefronts on the street level.
Duke Realty puts 17 Midwest office buildings on block
The developer is selling the buildings in Cincinnati, Cleveland and St. Louis to increase its emphasis on industrial properties. A research firm values them at $149 a square foot, or a total of about $350 million.
Area homebuilding permit filings surge 41 percent
Single-family building permits filed in the nine-county Indianapolis area rose again in April, the 10th straight month of year-over-year increases.
City code enforcement rethinks rental housing strategy
Indianapolis is reconsidering plans for cracking down on negligent landlords through a rental-housing registry after the Legislature enacted a one-year moratorium on new fees.
Local soul food favorite hopes to build new restaurant
Kountry Kitchen Soul Food Place is seeking to build a new restaurant just south of its current location. Plans call for a two-story structure, large enough to hold banquets, to be constructed on a vacant lot near College Avenue and 19th Street.
Carmel developer plans rooms with a view
Construction is expected to begin this summer on a $6 million development at Carmel’s City Center that includes luxury apartments overlooking the Monon Trail.
Circle Centre hanging in despite anchor vacancy
The downtown mall last year saw its sales per square foot increase to $354, a 5.3-percent increase from 2011, according to an annual operating report it provides to the city. But non-anchor occupancy slipped below 90 percent.
Review finds no conflict in state's deal with Mainstreet
Gov. Mike Pence asked the Indiana Economic Development Corp. in early April to review its decision to grant $345,000 in performance-based economic incentives to Mainstreet Property Group LLC, a company started by a top Republican lawmaker and his son.
Art imitates life in commercial based on Kosene family
Former Indianapolis filmmaker Alex Kosene bases the story in a local advertising shoot for a Swiss watchmaker on his relationship with his developer dad.
Browning exec Dye joining The Whitsett Group
Dennis Dye will become a partner at Whitsett, a prolific developer of affordable housing. He has served two stints at Browning totaling about 20 years.
Indiana firms lose ground on Fortune 500 list
Five of the six Hoosier firms that appear in the 2013 rankings slipped from their positions in last year's list of the largest U.S. companies.
Outback, Olive Garden slated for Michigan Road
The Carmel City Council on Monday agreed to pave the way—literally—for commercial development planned for the west side of Michigan Road south of 106th Street.
Developer shelves plan to buy city land, build Meijer
Opus Development Corp.'s proposal for the project north of downtown included buying and bulldozing dozens of historic homes in the Flanner House neighborhood.
Roundup: Graeter's coming; Currito closes mall location
A couple of out-of-state ice cream franchises, including the Cincinnati stalwart Graeter's, are set to open their first Indianapolis locations. A Graeter's franchisee says he's close to signing a lease and should announce the location soon.
Stadium Lofts apartment project nears opening day
The unusual nature of the redevelopment and its location are driving strong leasing activity.
Lessons unlearned, a correction is ahead
The problems that led to the real estate and financial meltdown have not been fixed, and we are less than a generation away from repeating the mistakes.
First-quarter commercial real estate statistics for Indianapolis
Commercial Real Estate Focus sections include statistical snapshots of Indianapolis' multi-tenant office vacancy rates and the local industrial market.
Meijer might finally be coming to Anson
Construction paperwork indicates the store will be almost 200,000 square feet and employ 100 people.
Zionsville council to vote on $650K property deal
The town of Zionsville is poised to buy a former PNC Bank branch at the south end of its historic Main Street.
Colts-themed restaurant could reopen with Irsay's aid
Indianapolis Colts owner Jim Irsay has pledged to throw the owner of the Blue Crew Sports Grill a lifeline by paying his rent until the football season starts in September.
Kite Realty reports small loss as revenue rises
The Indianapolis-based real estate investment trust saw a healthy revenue increase due largely to more signed leases and gains on the sale of three land parcels.
Irsay may rescue Colts-themed restaurant
Less than a day after its closure was announced, a Colts-themed restaurant on the far north side of Indianapolis may be getting a reprieve.
Colts-themed restaurant closes its doors after financial losses
The Blue Crew Sports Grill on Indianapolis' far north side closed its doors Thursday after seven years in business, according to a post on the eatery's Facebook page.
Milhaus set to launch $26M downtown apartment project
Milhaus Development is set to begin construction this summer on a $26 million apartment project on College Avenue that will include 236 units. The first ones should be available next spring.
Kite buys Castleton Crossing center for $39M
The retail center, off East 82nd Street, near Interstate 465 and Allisonville Road, is fully leased and is anchored by HomeGoods, Burlington Coat Factory and Shoe Carnival.
Trial date set in Carmel's lawsuit on Palladium construction
The 2-year-old complaint concerns defects to steel supports discovered during construction of the city's signature concert hall.
More franchisees join revolt over Steak n Shake menu pricing
Three franchise owners filed suit last month against Steak n Shake, including two on the same day, challenging the company's policy that they say prohibits them from setting their own menu prices.