Auto auctioneer invests big in tech as sales go online
KAR Auction Services Inc. expects to spend as much as $125 million on technology this year as its focus continues to shift to the Web and apps.
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Former Simon exec sentenced in mail fraud scheme
Carmel resident Mark Palombaro received a sentence of 18 months in a federal prison for perpetrating a construction kickback scheme in Pennsylvania that prosecutors say netted him $766,000.
Construction
-Capitol Construction has completed a 15,000-square-foot office build-out for Theta Chi at 850 E. Carmel Drive, Carmel.
-Capitol Construction has completed a 4,300-square-foot office build-out for Phone Pro at 11350 N. Meridian St., Carmel.
Leases/leasing contracts
-RoomPlace leased 34,000 square feet at 8401 N. Michigan Road. The landlord, Gama Properties LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant was represented by Fred Feinblum of Julius M. Feinblum Real Estate Inc.
-Jane Pauley Community Health Center Inc. leased 7,763 square feet of office space at 5317 E. 16th St. The tenant was represented by Dan Laser of Re/Max Centerstone. The landlord, Con Med Ten, was represented by Bob Lindgren of Lee & Associates.
-American Mattress renewed its lease for 6,400 square feet of office space at 7565 US 31 South. The landlord, Nationwide Insurance, was represented by Bill French of Cassidy Turley. The tenant represented itself.
-Stonegate Mortgage Corp. leased 3,750 square feet of retail space in Raceway Commons, 55 S. Raceway Road. The tenant was represented by Nicholas Svarckopf of CBRE. The landlord, Raceway Commons Baceline LLC, was represented by Scot Courtney and Bart Jackson of Lee & Associates.
-BSN Sports Inc. leased 3,673 square feet of industrial space at 6828 Hillsdale Court. The tenant was represented by Patrick Lindley and Grant Lindley of Cassidy Turley. The landlord, Hillsdale Property Co. LLC, was represented by Kevin Gillihan of Jones Lang LaSalle.
-5i Solutions Inc. leased 3,316 square feet of office space in Carson Square, 3205 E. Thompson Road. The tenant and landlord, Bluebird Ventures LLC, were represented by Cathy Richards of Lee & Associates.
-Simply Skin leased 3,093 square feet of office space at 9769-9879 E. 116th St., Fishers. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.-Sun Spot Tanning leased 2,400 square feet at Brownsburg Square Shopping Center, 959 N. Green St., Brownsburg. The tenant and landlord, Brownsburg Management Group LTD, were represented by Jeff Hubley of Midland Atlantic Properties.
-H&R Block leased 2,400 square feet in Brownsburg Square Shopping Center, 967 N. Green St. Brownsburg. The tenant and landlord, Brownsburg Management Group LTD, were represented by Jeff Hubley of Midland Atlantic Properties.
-Fit Now Enterprises LLC leased 2,250 square feet in Fishers Trade Flex Center at 14060 Britton Park, Fishers. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Mann Properties, was represented by Debbie Mann.
-Orange Leaf Frozen Yogurt leased 1,807 square feet at 11722 Allisonville Road, Fishers. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Freeland Realty LLC, represented itself.
-Chrome Fitness leased 1,800 square feet at 116th Street Centre, 890 E 116th St., Carmel. The tenant was represented by Jess Lawhead of Sperry Van Ness. The landlord, TCP Guilford LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.
-Avon Health Associates LLC leased 1,600 square feet at 9245 N. Meridian St. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Echo Associates, was represented by Ashley Bussell of Newmark Knight Frank Halakar.
-Caplinger’s Fresh Catch fish market leased 1,600 square feet at Shadeland Place Shopping Center, 7460 N. Shadeland Ave. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, MAP Shadeland LLC, was represented by Jeff Hubley of Midland Atlantic Properties.
Sales/acquisitions
-Term Security Corp. bought the Arrowwoods and Inverness apartment communities, totaling 373 units, at 7135 Warrior Trail and 5890 Sebring Drive. The seller, Blue Valley Apartments, was represented by Tikijian Associates. The buyer represented itself.
-Chin United Apostolic Church bought two buildings totaling 19,000 square feet on 5.6 acres at 420 Lifegate Way, Beech Grove. The buyer was represented by Phil Hawkins of Indiana Real Estate Group LLC. The seller, Lifegate Ministries, was represented by Bud Green and Julia Berberich of Re/Max Centerstone Commercial Division.
-Phamily Real Estate Group LLC bought an 18,096-square-foot building at 695 Pro Med Lane, Carmel. The buyer and seller, TLR-VI LLC, were represented by Sharon Thompson of KW Commercial Indiana/Keller Williams Indianapolis Metro North.
-Horizon CPA Property Group LLC bought a 10,121-square-foot office building at 9745 Randall Drive. The buyer was represented by Pete Anderson of BI Realty Services. The seller, VCA Animal Hospitals, was represented by Paul Dick and Kevin Dick of Colliers International.
-Reagan Crossing LLC bought 12 acres of land at Ronald Reagan Parkway and Plainfield Road, Plainfield. The buyer was represented by Bud Green and Julia Berberich of Re/Max Centerstone. The seller, Six Points Road Developers LLC, was represented by Jason Speckman and Andrew Morris of Summit Realty.
-Eden Court Capital bought approximately 4.5 acres of land at 2600 E. Main St., Plainfield. The buyer was represented by Tom English and Ryan Conrad of English Commercial Real Estate. The sellers, Trent Electric and SBR Properties LLC, were represented by Bud Green and Julia Berberich of Re/Max Centerstone.
Apex credits door-to-door pitch for windows-sales success
The company eschews traditional—and expensive—mass marketing in favor of face-to-face solicitations.
Hamilton County’s low jobless rate roils labor market
Hamilton County employers are having trouble filling lower-wage jobs. At 4.5 percent in December, Hamilton County’s jobless rate was the lowest in the metro area and one of the lowest in the state.
LOPRESTI: Only the mighty survive feared Noblesville Sectional
Some of the top teams in the state, and their fans, pack this preliminary round tournament.
Banks gathering all their clients’ eggs into one basket
Banks and credit unions facing more competition from online lenders—and now even from big-box stores offering financial products—are working harder to get a bigger piece of a customer’s wallet over the long haul.
Scotty’s taking over Detour space in Carmel
After an admittedly difficult year dealing with the fallout from the closure of two of his namesake eateries, restaurateur Scott Wise is starting 2014 with a bang. He’s finalizing a deal to move a Scotty’s Brewhouse into a prime spot along the Monon Greenway.
Feds sue ITT Educational over loan practices
ITT Educational Services Inc. is being sued by the U.S. Consumer Financial Protection Bureau over allegations the for-profit college chain engaged in predatory lending by pushing students into loans likely to end in default.
Bill allowing state fair alcohol sales heads to governor
The bill, authored by Sen. James Merritt, R-Indianapolis, seeks to end a nearly 70-year old ban on beer and alcohol sales at the state fair.
INDOT closing U.S. 31 in Carmel for better part of 2014
INDOT plans to close a chunk of U.S. 31 in Carmel on or after April 4 through Thanksgiving. The closure was originally planned for 2015, but prep work was completed ahead of schedule.
Transit bill advances at Statehouse after losing amendments
The Indiana House Ways and Means Committee voted Tuesday morning to move a mass-transit bill to the full House, where it’s sure to see further debate.
Grid operators feud over transmission lines, payments
Midcontinent Independent System Operator Inc.’s recent expansion into the South has thrust the Carmel group into a dispute over whether it has to pay for using another firm’s power lines.
Leasing/leasing contracts
-Rubber Products Distributors leased 43,984 square feet of industrial space at 5230 Park Emerson Drive. The tenant was represented by Bart Book of Cassidy Turley. The landlord, Emerson Industrial Building II LLC, was represented by J.D. Graves of CBRE.
-US Default Group LLC leased 5,384 square feet of office space at 8455 Keystone Crossing. The tenant was represented by Peter Alveal and Andreas Kapsalis of Premier Commercial Real Estate Services. The landlord, Quality Bancorp Inc., dba Salin Bank & Trust Co., was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Perfect 10 Enterprises Inc. renewed its lease for 3,810 square feet of retail space in The Pointe, 1259 N. State Road 135, Greenwood. The tenant and landlord, Sun Greenwood LLC, were represented by Cathy Richards of Lee & Associates.
-Marion County Democratic Central Committee leased 3,415 square feet of office space in the Barrister Building, 155 E. Market St. The tenant was represented by Bill Ehret of Summit Realty Group. The landlord, Crown Barrister LLC, was represented by Larry W. Harshman of Harshman Property Services LLC.-Sipes Law leased 2,605 square feet of office space in the Stock Yards Bank Building, 136 E. Market St. The tenant was represented by Alex Sanders of Newmark Knight Frank Halakar. The landlord, Crown Stock Yards LLC, was represented by Larry W. Harshman of Harshman Property Services LLC.
-Pad Thai leased 1,765 square feet of retail space in Sophia Square, 110 W. Main St., Carmel. The tenant was represented by Hamada Ibrahim of RP Lux Commercial Real Estate Services. The landlord, Keystone Realty, was represented by Bart Jackson and Scot Courtney of Lee & Associates.
-Rector Communications LLC leased 1,563 square feet of office space in the Stock Yards Bank Building, 136 E. Market St. The landlord, Crown Stock Yards LLC, was represented by Dawn McClanahan of Harshman Property Services LLC. The tenant represented itself.
-AlphaGraphics leased 1,400 square feet of retail space in Westover Commons, 577 S. Dan Jones Road, Avon. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, Westover Commons Development Corp., was represented by Joe Lonneman of Ambrose Property Group.
-Perez & Perez leased 1,166 square feet of office space in the Stock Yards Bank Building, 136 E. Market St. The landlord, Crown Stock Yards LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.-Attorney Carl L. Epstein leased 606 square feet of office space in the Barrister Building, 155 E. Market St. The landlord, Crown Barrister LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.
-Aldi (Indiana) LP leased 2.58 acres of retail land at 284-310 S. State Road 135, Greenwood. The tenant was represented by Jim Abel of Lee & Associates. The landlord, Union Streams LLC, represented itself.
Senate GOP leaders punish Delph, strip him of leadership posts
The moves against the conservative senator follow an intraparty fight over amending the state's constitution to ban gay marriage.
First Financial changes local leadership as it expands
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank’s state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
Rose’s plan for $80M Carmel project moves forward
Edward Rose Properties’ proposal to develop an $80 million mixed-use project near Old Meridian and Main streets is heading to City Council for consideration.