Franklin Electric Co. Inc. says it will move its corporate headquarters from Bluffton to a $25 million development in Fort Wayne by 2013. The company has 220 employees and expects to add 35 more by 2014.
A new state law that alters the public bidding process could add complication and possibly millions of dollars to a soon-to-be-bid segment of a massive Indianapolis sewer project.
Businesses are choosing Illinois for reasons that go far beyond our strategic incentive packages, which are just one tool in our arsenal.
A gasoline tanker overturned on an Interstate 465 ramp in Indianapolis about 1 a.m. Wednesday after running into concrete barriers in a construction zone, killing the truck driver. The crash happened on the ramp from Crawfordsville Road to northbound I-465 on the city's west side. The ramp was still closed late Wednesday morning to allow hazardous materials crews to clean up spilled fuel and transfer the tanker's gasoline to another tanker.
Sycamore Services Inc., which serves people with disabilities, has closed on $8 million in financing to build a 72-unit apartment community in Brownsburg.
Citizens for Appropriate Rural Roads and the I-69 Accountability Project said the road expansion would violate federal environmental laws.
-Hibachi Grill leased 11,200 square feet at Greenwood Place at U.S. 31 and Shelby Street. The tenant was represented by Jodi Milto of Midland Atlantic. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent.
-Living Word Fellowship Inc. leased 10,350 square feet of office space at KeithLynn Business Complex, 8641 E 30th St. The tenant and landlord, KeithLynn Properties, were represented by Tammy Kelly of Re/Max Ability Plus Commercial.
-Hope Source leased 6,993 square feet at 7745 E. 86th St. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, East 88th Street Partnership LLC, was represented by John Demaree and Matt Waggoner of Summit Realty Group.
-WorkOne leased 6,002 square feet of retail space at Plainfield Village, 160 Plainfield Village Drive, Plainfield. The tenant was represented by Shannon Hicks of CB Richard Ellis. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent.
-Sutliff Construction leased 5,200 square feet of industrial space at 1440 Sunday Drive. The tenant and landlord, Schoolcraft LLC, were represented by Mike Medlock and Rick Jones of Lee & Associates.
-M&I Bank renewed its lease for 3,500 square feet at North Willow Mall, 2260 W 86th St. The landlord, Township 86th Development Co. LP, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-Massage Envy leased 3,200 square feet of retail space at Fishers Corner, 11680 Commercial Drive, Fishers. The tenant was represented by Tracey Holtzman of Midland Atlantic. The landlord, Sena Properties, was represented by Jacque Haynes of Cassidy Turley.
-SalonCentric leased 2,800 square feet of retail space at Washington Corner, 9912-9994 E. Washington St. The tenant was represented by Larry Davis of Sitehawk Retail Real Estate. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent.
-Hearthstone Coffee House leased 2,800 square feet of retail space at Fishers Town Commons, 8211 and 8235 E. 116th St., Fishers. The tenant was represented by Bob Roby of Prudential. The landlord, The Broadbent Co., was represented by Brian Broadbent.
-Brookshire Management, Inc., dba Carefree WorldTravel, leased 2,482 square feet of office space at 8650 Commerce Park Place. The tenant was represented by Chris Carmen and Nick Carmen of Carmen Commercial Real Estate. The landlord, Dhillon Commerce Park LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.
-King Laundry leased 1,842 square feet at Greenwood Shoppes, U.S. 31 and Fry Road, Greenwood. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent. The tenant represented itself.
-J&K Tire leased 1,800 square feet of retail space at 3806 S. Madison Ave. The landlord, Armtrust LLC IV, was represented by Ron Mannon of Lee & Associates. The tenant represented itself.
-Happy Dragon Asian Carry Out leased 1,635 square feet of retail space at Fishers Corner, 11670 Commercial Drive, Fishers. The landlord, Sena Properties, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-Amy’s PJs leased 1,400 square feet of retail space at Clearwater Shoppes, 3809-3981 E. 82nd St. The landlord, The Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.
-Pounds and Inches Away leased 1,200 square feet of retail space at Castleton Shoppes, 6024-6066 E. 82nd St. The landlord, The Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.
-Law Office of Mark A. Reder leased 1,021 square feet of office space at 870 Virginia Ave. The landlord, the Leone Family Living Trust, was represented by Sandra Jarvis of IndySQUARED Commercial Real Estate. The tenant represented itself.
Ambrose Property Group broke ground last month on a 13,000-square-foot building at Intech Park that will house about 75 Social Security Administration employees.
Warsaw-based Biomet Inc., which makes orthopedic implants, rolled out a restructuring plan in its knees and hips division that will trim 21 positions in the United States and another 60 to 80 in Europe, according to the Times-Union newspaper in Kosciusko County. Separately, Biomet said it will lay off an unspecified number of employees at its manufacturing plants in England and Wales. “The company believes these changes are necessary for it to meet the challenges it faces in the market today,” Biomet officials said in a statement given to the Times-Union. Orthopedic implant makers have been challenged in recent years because a settlement with the Department of Justice curtailed some of their marketing practices and because the economic downturn caused many patients to delay elective surgeries. Biomet, which is owned by a consortium of private equity firms, had 7,400 global employees as of March, with 1,700 of those in Indiana.
Indianapolis-based Eli Lilly and Co. won an appeals court ruling in its effort to block generic versions of attention-deficit treatment Strattera, according to Bloomberg News. On July 29, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., overturned a lower court judge’s decision that Lilly’s patent on the medicine was invalid. The Federal Circuit remanded the case to the lower court for further proceedings. The patent expires in 2017. Strattera generated sales of $577 million last year for Lilly. The company had won an order that prevented drugmakers including Mylan Inc. and Teva Pharmaceutical Industries Ltd. from entering the market with a generic version until this appeal was decided.
St. Vincent Health will match Indiana University Health in Fishers, turning its free-standing emergency room and outpatient center into a 40-bed inpatient hospital. The two facilities are a stone’s throw away from each other at the intersection of Olio Road and Interstate 69. The expansion will add 110,000 square feet to St. Vincent’s existing facility, which opened in 2008. It will include 30 medical/surgical beds and 10 medical observation beds, as well as 10 labor-delivery-recovery-postpartum rooms. The larger facility will create 200 jobs. Construction is set to begin in September and should be completed by December 2012.
An Indianapolis angel investment firm focused on life science startups has now expanded to Warsaw. StepStone Business Partners LLC also has chapters in Indianapolis and Anderson. Warsaw is home to three major orthopedic implant makers—Biomet, Zimmer Holdings Inc. and DePuy Orthopaedic Inc.—as well as more than 20 other suppliers, parts manufacturers and services firms that support the orthopedics industry. StepStone will be looking to fund new entrants to the industry cluster, companies that have gotten off the ground but that are not big enough to attract institutional investment. “These companies are very early-stage. They have minimum management teams. They basically have what they need and what they can afford,” said Oscar Moralez, managing partner and co-founder of StepStone. The group, which includes about 20 investors, has already invested in OrthoPediatrics Corp., a Warsaw-based firm that makes implants for children. Moralez envisions building a statewide angel network. He’s looking at adding two or three more chapters by mid-2012.
Indianapolis-based HealthNet has opened a satellite community health center on East 38th Street, in partnership with the Community Alliance of the Far Eastside and with a $200,000 gift from The Glick Fund. The new health center is expected to serve more than 2,000 patients a year, many living below the federal poverty level. The 1,300-square-foot health center has six exam rooms, a laboratory and office space. The center initially will offer only pediatric and OB/GYN services, but HealthNet plans to expand in a few months to add adult primary care and behavioral health care. The new health center is HealthNet’s ninth facility in Indianapolis.
The state would be able to draw down its $1.2 billion cash reserves and lean on money from the $3.8 billion Indiana Toll Road lease to carry it for a few months until the federal government came up with a plan, according to Budget Director Adam Horst.
The most successful black businessman in Indiana plans to retire from the company that bears his name at year-end as part of a transition that ultimately will put his daughter at the helm.
This month, we recognize the power players who built this city, from the new airport to Lucas Oil Stadium to the Palladium.
Huntington National Bank and PNC Bank claim they are owed roughly $25 million on loans related to Broadbent Co.’s purchase and renovation of a building on East Washington Street downtown.
The hospital system said it will expand its Medical Center Northeast facility to a 40-bed inpatient hospital. Construction is set to begin in September and should be completed by December 2012.
Wind turbines, a rare sight downtown, have finally been added to The Nature Conservancy’s high-profile building on Ohio Street.
-Formosa Seafood Buffet leased 15,000 square feet at Castleton Plaza, 6300 E. 82nd St. The tenant was represented by Ben Li of Mid-America Realty Inc. The landlord, The Broadbent Co., was represented by Brian Broadbent.
-Paul Davis Restoration leased 9,519 square feet at 9715 Kincaid Drive, Fishers. The tenant was represented by Cam Kucic and Tony Hupp of Summit Realty Group. The landlord, Meritex Enterprises, was represented by Brian Buschuk and Brian Seitz of Jones Lang LaSalle.
-H.J. Spier Co. Inc. leased 8,784 square feet of office space at Four Woodfield, 8250 Woodfield Crossing Blvd. The tenant was represented by Tom Osborne of Colliers International. The landlord, Federal Home Loan Bank of Indianapolis, was represented by Rick Trimpe and Tim Hull of CB Richard Ellis.
-Legacy Ventures Inc. leased 5,400 square feet of industrial flex space at 5705 W.85th St. The tenant was represented by Rob Christman of Bridge Real Estate Advisors Inc. The landlord, BRE/US Industrial Properties LLC, was represented by Jason Speckman of Summit Realty Group.
-Pekin Insurance leased 3,558 square feet of office space at 2611 Waterfront Parkway. The tenant was represented by Richard King III of Hokanson Cos. The landlord, New Boston Jacaranda LP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.
-Key Sheet Metal leased 3,252 square feet at Garfield Industrial, 2248 N Emerson Ave., Suite C. The landlord, Painter Bay Trust, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.
-Moe’s Southwest Grill leased 2,479 square feet of retail space at Rockville Station, 9263 E. Highway 36, Avon. The tenant was represented by Rob Warstler of Colliers International. The landlord, Rockville Station LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.
-Circle Center Auto Rebuilders leased 2,002 square feet at Garfield Industrial, 4847 E. 23rd St. The landlord, Painter Bay Trust, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.
-Huddles Sweet Shop & Boutique leased 1,821 square feet at Sophia Square, 110 W. Main St., Carmel. The tenant was represented by Steve Delaney of Sitehawk Retail Real Estate. The landlord, Carmel Lofts LLC, was represented by Ersal Ozdemir of Keystone Construction Group.
-Communications Workers of America leased 1,721 square feet of office space at 2780 Waterfront Parkway. The landlord, New Boston Jacaranda LP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc. The tenant represented itself.
-All Day Towing leased 1,500 square feet at Garfield Industrial Park, 2251 N Dequincy St., Suite E. The landlord, Painter Bay Trust, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.
-Yogi Frozen Yogurt leased 1,200 square feet of retail space at Sunblest Shoppes, 11803 Allisonville Road, Fishers. The tenant was represented by Kevin Piper of Colliers International. The landlord, G& J LLP, was represented by Greg Smith and Rob Warstler of Colliers International.
-Verizon Wireless leased 1,200 square feet of retail space at Riverstation Shopping Center, 780 Westfield Road, Noblesville. The tenant was represented by Greg Smith of Colliers International. The landlord, Riverstation LLP, was represented by Rob Warstler of Colliers International.
-DB Services leased 1,032 square feet of office space at 8604 Allisonville Road. The tenant was represented by Bryan Miller of Cassidy Turley. The landlord, Castle Creek Office LLC, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.
The U.S. Army says, “Be all that you can be.” Indiana is moving toward a different message.
The Indianapolis Convention & Visitors Association plans to attract more life sciences conferences.
The Indiana Statewide Certified Development Corp. has been recognized as the most robust lender through the SBA’s 504 loan program.
A veteran local homebuilder is tearing up the suburban residential playbook with a new project in Carmel that offers tightly spaced bungalows clustered around grassy courtyards.
