East-side apartment complex facing foreclosure
One West Bank in California says it is owed nearly $3.3 million, and is seeking to foreclose on Red Mill Apartments near East 38th Street and North Franklin Road.
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Stabbing victim in critical condition
Police are investigating a stabbing that critically injured a man Wednesday morning on the north side of Indianapolis. The man was stabbed several times in the arms, chest and buttocks during the incident at Cambridge Square Apartments in the 7200 block of Township Line Road. A suspect was taken into custody. Police have not released names of the suspect or victim, who was taken to St. Vincent Hospital.
Man shot to death on northeast side
Indianapolis police are investigating a weekend shooting that killed a 21-year-old man. Police responded to a report of a person shot at the Phoenix Apartments near East 42nd Street and Shadeland Avenue about 3 a.m. Saturday. They found Michael Lacy in the grass with multiple gunshot wounds. Detectives say Lacy was visiting a friend when he was approached by a group of people and they started fighting.
Developer proposing $100M project for Carmel
A proposed 64-acre development west of U.S. 31 in Carmel would help satiate a craving for retail, but it faces a tough fight from neighborhood groups that want to preserve the thoroughfare’s residential character.
Who’s Who in Commercial Real Estate – 2011
Every business sector has influential players, whether they are in the public eye or wield their influence behind the scenes. IBJ is identifying those people in eight different industry categories. Up this month: commercial real estate.
Police investigate officers’ actions
Investigators are looking into police behavior during a Saturday arrest caught on video by a resident of Tuscan Pointe apartments off Southport Road. In the video, which is available on Fox59.com, officers are dragging a handcuffed man down a flight of stairs. Police arrested 19-year-old Max Harper after he allegedly injured two paramedics and tried to punch a police officer. A neighbor said Harper appeared to be intoxicated and unable to stand, walk or talk.
Car fires hit Broad Ripple complex
A recent rash of car fires has residents at a Broad Ripple apartment complex on edge. Shore Acres Apartments, near East 71st Street and Westfield Boulevard, has experienced six car fires since December, residents say, with three of those fires in just the past two weeks. The latest happened about 12:45 a.m. Monday. Police are asking for tips.
Essex Hotel site remains undeveloped despite city deal
Sixteen years after the former Essex Hotel was razed, the site remains a parking lot although a 1990 agreement with the city required its owner to develop the space within five years if the building were torn down.
Unusual North of South deal leaves taxpayers vulnerable
The $156 million North of South project is a complicated, risky and potentially transformative bet on downtown.
Leases/leasing contracts
-Stanley Convergent Security Solutions Inc. leased 27,058 square feet of office space at One Concourse at Crosspoint, 9998 Crosspoint Blvd. The tenant was represented by Nick Arterburn of CB Richard Ellis. The landlord, Edgeworth Laskey Properties LLC, represented itself.
-Indy Tube Fabrications LLC leased 8,080 square feet at 1102 Roosevelt Ave. The tenant was represented by Tim Garner of CB Richard Ellis. The landlord, 1102 Roosevelt LLC, was represented by Tony Hupp of Summit Realty Group.
-Rent-A-Center leased 4,800 square feet at Bel-Aire Shopping Center, 2325 E. State Road 44, Shelbyville. The landlord, Mer-Car Corp., was represented by Paul Rogozinski of Veritas Realty. The tenant represented itself.
-Century Personnel Inc. leased 4,407 square feet at Two Penn Mark, 11555 N. Meridian St., Carmel. The tenant was represented by Yumi Prater and Jim Logan of Colliers International. The landlord, Westminster, was represented by Tristan Glover of Zeller Realty Group.
-Advance Physical Therapy leased 3,718 square feet at Herriman Corner, 14460 Herriman Blvd., Noblesville. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Nestani LLC, was represented by Donna Hovey of CB Richard Ellis.
-Simply Chic leased 3,600 square feet at North by Northeast Shopping Center, 7820 E. 96th St., Fishers. The landlord, NNE Associates LLC, was represented by Robyn Smart of CB Richard Ellis. The tenant represented itself.
-Indy Salon leased 1,600 square feet at Eagle Highlands Shopping Center, 6920 Eagle Highlands Way. The landlord, Valtesi I LLC., was represented by Paul Rogozinski of Veritas Realty. The tenant represented itself.
-Dental Oasis leased 1,567 square feet at McCordsville Commons, 5767 W. Broadway, McCordsville. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, McCordsville Commons LLC, was represented by Paul Rogozinski of Veritas Realty.
-Midwest Jewelry & Coins leased 1,440 square feet at North by Northeast Shoppes, 8240 E. 96th St., Fishers. The landlord, Glendale Partners of North by Northeast II LLC, was represented by Paul Rogozinski of Veritas Realty. The tenant represented itself.
-Daisies & Denim leased 1,400 square feet at Fishers Crossing Shoppes, 11844 Allisonville Road, Fishers. The landlord, Glendale Partners at Fishers Crossing Inc., was represented by Paul Rogozinski of Veritas Realty. The tenant represented itself in this transaction.
-Phyllis’ Soul Food leased 1,400 square feet at Shadeland Corner, 4558 N. Shadeland Ave. The landlord, Shadeland Center LLC, was represented by Keith Kleinmaier of Retail Realty. The tenant represented itself.
-Gold Gals leased 1,200 square feet of retail space in Speedway Supercenter, 5804 Crawfordsville Road. The tenant was represented by Scot Courtney and Bart Jackson of Lee & Associates. The landlord, Centro Bradley SPE 5 LLC, was represented by Heather Blacketer of Centro Properties.
-Get In Shape For Women leased 1,000 square feet in Town Center at Geist, 11720 Olio Road, Suite 800, Fishers. The tenant was represented by Keith Kleinmaier of Retail Realty. The landlord, Flynn & Zinkan Holdings II LLC, represented itself.
-Gold Gals leased 945 square feet of retail space in George Thomas Plaza, 1028 N. Shadeland Ave. The tenant was represented by Scot Courtney and Bart Jackson of Lee & Associates. The landlord, Ladywood Apartments LLC, was represented by Cindy Hoskinson of Lee & Associates.
-Orangutan Software leased 800 square feet at 126 E. Main St., Carmel. The landlord, MB Shopping Centers Inc., was represented by Keith Kleinmaier of Retail Realty. The tenant represented itself.
UIndy to add dorm for upperclassmen
With enrollment surging in recent years, the University of Indianapolis finds itself needing new dorm space. The private college will build a $10 million, 200-student residence hall on the south edge of its campus.
Sales/acquisitions
-New York-based investor White Eagle Property Group bought the 328-unit Fisherman’s Village Apartments at 2975 Coast Drive. The price wasn’t disclosed. The buyer and seller, Denver-based Apartment Investment & Management Co., were represented by Tikijian Associates.
-ADM Milling Co. bought 3.68 acres of industrial land at 1100 Bethel Avenue in Beech Grove. The price wasn’t disclosed. The buyer and seller, Charles Wakelam, were represented by Rick Jones of Lee & Associates.
Condo sales lag in hot downtown apartment market
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
Police find woman dead on west side
Dawnita Gibson, 35, of Indianapolis was found dead Thursday in a west-side apartment by police investigating a reported domestic disturbance. Police were called to Chapel Hill Apartments in the 7600 block of West Street at about 8:30 p.m. Thursday. When they knocked on the door, a man inside answered, “Just a minute.” When no one came to the door, officers entered to find the woman, who had suffered an undisclosed injury. A man was seen fleeing from the rear of the residence. Police arrested a man matching his description an hour later on Crawfordsville Road.
City sells North of South bonds, locks in 5.2-percent rate
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
Sales/acquisitions
-St. Louis-based Thiemann Real Estate LLC bought the 256-unit Washington Quarters Apartments at 40 Capitol Drive, Avon, for approximately $18 million. The buyer was represented, in part, by Kevin MacKenzie and Jon Everson of Holliday Fenoglio Fowler LP. The seller, Crossmann Properties LLC, was represented by John Sebree and David Keller of Holliday Fenoglio Fowler.
-Brechbuhler Scales bought two acres at Decatur Boulevard and Narita Road in the AmeriPlex-Indianapolis Corporate Park, where it will build a 12,000-square-foot flex industrial/office building. The price paid for the land wasn’t disclosed. The buyer was represented by Chip Barnes of Jones Lang LaSalle. The seller, Holladay Properties, represented itself.
MADER: Design guidelines vital to city’s success
No one likes to be told what to do. But, we’re told how fast we can drive, how many emergency exits we have to have in a building and, in some cases, even the color we can paint our houses.
Fire damages Scandia Apartments
A fire that broke out Thursday night at the Scandia Apartments complex near 96th Street and Allisonville Road on the northeast side of Indianapolis caused about $215,000 in damage. No one was injured but 12 people were forced out of their homes because of smoke damage. The Red Cross is helping the residents find a place to stay. The cause of the fire is under investigation.
Another northwest-side apartment complex faces foreclosure
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
Missing Alabama boys found in Indy
Police say two missing children from Alabama were found unharmed Monday in Indianapolis after they were taken by their baby sitter. Six-year-old Angel Montoya and 5-year-old Christian Montoya of Russellville, Ala., may have been kidnapped by Teresa McGee, according to officials. She’s now in custody in Indiana. The Alabama Department of Public Safety issued a Missing Child Alert for two children Monday. The boys were located at Rosewood Commons Apartments near West 56th Street.