IndyStar.com: Retail/Real Estate
Indiana's leading news source for all the top stories, local news, sports and weather.
Simon positions itself to expand
Nation’s largest mall developer may be preparing to acquire biggest competitor Simon Property Group may be laying the groundwork for the biggest acquisition of its 49-year history in a deal that could allow the Indianapolis shopping mall...
Keystone Towers complex fails to sell in auction
Indianapolis — An online auction for the nonperforming loan on the vacant Keystone Towers complex failed to bring a bid acceptable to the seller when it ended Wednesday. Bidders seemed reluctant to raise their bids above the minimum of $600,000...
Retailers make deals, profits
Target, Saks, TJX report strong third-quarter sales CHICAGO — Deal-craving shoppers helped three prominent U.S. retailers report Tuesday that their third quarter managed to improve this year. From Target Corp.‘s cheap chic shoppers to...
Very deep discounts may be a Black Friday bright spot
Muncie — Consumers heading out to retailers the day after Thanksgiving may be shocked to find significantly deep discounts designed to lure them into stores, Ball State University said Tuesday. Nearly 190 million Americans are expected to shop...
Cathy's Concepts leases warehouse space
Indianapolis — Cathy’s Concepts has leased a 40,000-square-foot warehouse at 6900 E. 30th St. The private company, which makes and distributes wedding gifts, spa accessories and novelty apparel, has put its main offices in the warehouse,...
Zoning board backs truck washing business
Indianapolis — A city zoning board recommended last week that GTS Properties LLC be given a variance to open a truck washing business on 20 vacant acres at 1015 W. Hanna Ave. The company wants to build a 9,450-square-foot building on the site...
New casual eatery on College will open in early January
Indianapolis — Recess restaurant will open in early January at 4907 N. College Ave., formerly the site of a used-records store and a hair salon. Owner Greg Hardesty, who owned the now-closed Elements restaurant Downtown, said his new casual...
Center's renovation will add more space for gatherings
Indianapolis — Mavris Arts&Event Center is renovating the unfinished basement in its Downtown building to host gatherings of up to 125 people. The renovation will be complete March 1, said owner John Mavris, who bought an old three-story...
New warehouse will fill 9 management jobs
Indianapolis — Jetro/Restaurant Depot of College Point, N.Y., will open a 61,600-square-foot wholesale food products warehouse in the first quarter of next year at 2120 Enterprise Park Drive on the Eastside. It will be the first warehouse in...
Housing tax credits: What you need to know
Nearly 2 million people have received a federal homebuyers’ tax credit since it was approved in 2008. Hoping to further stimulate the housing market and the economy, Congress recently broadened the credit, making it available to millions of...
In a tight economy, people turning to homemade gifts
Call it the year the wrench stole Christmas. This holiday season, consumers are descending on tool stores, craft shops, woodworking stores and even home improvement big boxes to concoct homemade gifts — and save money. In fact, nearly one in...
A homemade holiday for many
In a tight economy, the personal touch pays off in savings Call it the year the wrench stole Christmas. This holiday season, consumers are descending on tool stores, craft shops, woodworking stores and even home improvement big boxes to concoct...
Summit Realty Group might move office from Chase Tower
Indianapolis — Summit Realty Group is looking at moving its 35-person office out of Chase Tower after it’s replaced as leasing agent later this month by Jones Lang LaSalle. Summit has handled leasing in the 48-story tower, the...
City wants new ideas for old hospital
Developers will be asked to provide suggestions for closed Winona Memorial Five years after it closed, Winona Memorial Hospital has fallen into the hands of the city, which will seek private development proposals for the looted and asbestos-ridden...
Good economic news doesn't extend to Main Street
Retail sales, inventories fall 1.5% Thousands of job seekers streamed Wednesday into a job fair at a Plainfield building that will soon become the newest Niagara Bottling Co. plant. Those applicants were vying for 37 positions. “It is great to...
Downtown apartment building to get $1.2M in renovations
A new owner plans a $1.2 million renovation of the Colonial Apartments at Vermont and Delaware streets in Downtown Indianapolis. The 36-unit yellow-brick building will be turned into upscale apartments, said apartment broker George Tikijian. He said...
Bank forecloses on half of Fishers development site
Old National Bank has foreclosed on half of a 104-acre development site called Fishers Marketplace. Half of the former golf course at Ind. 37 and 131st Street will be auctioned Oct. 22, said developer Kenneth A. Puller, who owns the solvent half....
Halloween retailers bracing for a scary time
Uncertain economy sends shivers through suppliers of Halloween goods Consumers still spooked by a jittery economy say they plan to skimp on Halloween spending — buying less candy, reusing decorations and skipping haunted houses. Spending for...
Program to cut foreclosures exceeding estimates, feds say
Critics say rules, job loss keep many from being helped A 6-month-old federal foreclosure-prevention program is helping more homeowners than expected, even as new foreclosures continue to rise and critics say not enough is being done for homeowners...
Ryan Homes to build on defunct C.P. Morgan lots
Ryan Homes is moving into the Indianapolis market, taking over many lots left unfinished when Indianapolis-based C.P. Morgan closed. The Reston, Va.-based homebuilder will build homes on roughly 800 lots in Franklin, Greenwood, Noblesville and...
Simon's donations focused on arts, health, education
Mel Simon left an indelible mark — in the form of bricks and mortar and more — on just about every cause his family championed. His death was being felt Wednesday by those at Indiana University, where he and his family provided funds for...
A behind-the-scenes political player with deep pockets
Melvin Simon never ran for office and never headlined political events. But few Hoosiers have had more influence on the Democratic Party in recent years. Simon was a major financial supporter of candidates in Indiana and on the national stage and was...
Simon helped transform shopping in America
Mel Simon long led the company that revitalized Indianapolis’ Downtown with Circle Centre mall, owns most of its shopping malls and dominates retailing as the world’s largest mall management and development company. From its start in the...
Mel Simon left his stamp on a city
When the U.S. Army drafted a rough-hewn young man from New York City and sent him to Fort Benjamin Harrison, who could have known the profound effect he would have on Indianapolis? Today, the local impact of Mel Simon stretches from Circle Centre...
Anderson man, sister to buy Mounds Mall
Anderson — Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six years. Bayview Financial Vice President Mike Maddox said it made sense for the company to sell the...
Lender suit claims fraud by defunct builder
Salin Bank accuses owners of wrongly removing assets from insolvent Davis Homes Salin Bank charges that the owners of the former Davis Homes committed fraud by taking money and other assets from their Indianapolis homebuilding company after it sank...
Area homebuilding permits declined 25% in August
The homebuilding slump continues in the Indianapolis area, with permits for new homes falling 25 percent in August from a year ago, to 354. Only two counties saw a jump in permits: Hamilton rose 3 percent, to 139 permits, and Hendricks went up 23...
Settlement with Hoosiers OK'd
Walmart, Sam’s Club workers from ’94 to March of this year are set to share up to $28M Nearly 300,000 Wal-Mart Stores workers in Indiana and their attorneys could receive up to $28 million under a settlement approved Tuesday in Marion...
Indy-area home sales off 7.5%
INDIANAPOLIS — Central Indiana home sales for the first eight months of 2009 are down 7.5 percent compared with the same period a year ago, according to statistics from Propertylinx. In August, more than 2,200 Central Indiana homes sold. Four...
hhgregg names Aguilar CFO
Indianapolis — Fast-growing appliance and electronics chain hhgregg Inc. on Wednesday announced it appointed Jeremy J. Aguilar as the Indianapolis company’s new chief financial officer. Interim CFO Aguilar is credited with helping take...
