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Articles
Pittsburgh grocer jumping into Indy market
A major supermarket chain is hoping to expand into the Indianapolis market, starting with an anchor position in a mixed-use project under construction in Carmel.
Wind farm says Duke violated contract
The owner of a northern Indiana wind farm says Duke Energy Indiana Inc.—which had agreed to buy energy the 87-turbine operation produces—breached its contract, “proving disastrous.
Rebranding of bird-food retail chain ups emphasis on core product
Wild Birds Unlimited recently unveiled a new marketing program encompassing everything from revamped store design to new staff training to a rebalancing of the product line. The idea was to place less emphasis on gift items and more on the store’s core product—birdseed.
Former Shapiro’s in Carmel hits market with $2.1M price
The Carmel Redevelopment Commission has engaged Colliers International to market and sell the former Shapiro’s Delicatessen building in growing Carmel City Center.
DINING: Carmel adds Mex to Main Street mix
Review of Agave Bar & Grill. Fourth in a month-long series of new-in-2013 restaurants that we hadn’t previously reviewed.
Two downtown office buildings have new owners
Indianapolis-based Ambrose Property Group bought the Landmark Center at 1099 N. Meridian St., while Chicago-based Zeller Realty purchased the historic Century Building at 36 S. Pennsylvania St.
Ball State-birthed big-top musical graduates to big time
“The Circus in Winter,” which began its theatrical life as a student project, is headed for an East Coast theater considered a stepping stone to Broadway.
Leases/leasing contracts
-Beverly Healthcare LLC leased 32,826 square feet of industrial space at 8460 Bearing Drive. The tenant was represented by Nick Arterburn of CBRE. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.
-Goodwill leased 13,000 square feet of retail space at 5720 W. Washington St. The tenant was represented by Bill French of Cassidy Turley. The landlord, Continental Realty and Development LLC, represented itself.
-RTM Consultants Inc. leased 6,983 square feet of office space at 6640 Parkdale Place. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, Healthcare Trust of America, was represented by Andrew Nordhoff and Julia Schnepper of Healthcare Trust.
-American Academy of Osteopathy expanded its lease to 5,899 square feet of office space in The Pyramids, 3500 DePauw Blvd. The tenant was represented by Steve Beals and Richard R. King III of Lee & Associates. The landlord, CP Pyramids Associates LP, was represented by Bennett Williams and David Moore of Cassidy Turley.
-Pure Sleep Mattress leased 4,000 square feet at Gateway Shops, 106th Street and Michigan Road, Carmel. The tenant was represented by Jamison Downs and Kyle Hughes of Veritas Realty. The landlord, Sandor Development, was represented by Sandor's Drew Kelly.
-Long’s Mattress leased 2,975 square feet of retail space at Greenwood Plaza, 1280 U.S. 31 North, Greenwood. The tenant was represented by Cindy Hoskinson of Lee & Associates. The landlord, Jones Family Investments LLC, was represented by Bridget Clanton of Quadrant Properties.
-Zoey’s Pizzeria leased 2,820 square feet at Meridian Parke Shoppes, 3115 Meridian Parke Lane, Greenwood. The landlord, Sandor Development, was represented by Sandor's Jeff Roberts. The tenant represented itself.
-ImmediaDent leased 2,419 square feet at College Park Shoppes, 8403 W. 86th St. The tenant was represented by John Byrne of Cassidy Turley. The landlord, Sandor Development, was represented by Sandor's Drew Kelly.
-Champion Consultants leased 2,035 square feet at Auburn Woods Park, 9650 Commerce Drive, Carmel. The tenant was represented by Brian Goodwin of Metro PCS. The landlord, Sandor Development, was represented by Lawrence Morrissey of Corporate Commercial Group.
-Fishers Fish & Chicken leased 1,710 square feet of retail space in Greenbriar Shopping Center, 1357 W. 86th St. The landlord, Prime Property Investors Fund VIII LP, was represented by Bart Jackson of Lee & Associates. The tenant represented itself.
-Studio YOU leased 1,500 square feet of retail space in Village Commons I, 862 S. State Road 135, Greenwood. The tenant was represented by Nick George of Indianapolis Homes Realty. The landlord, VC-1 LLC, was represented by Scot Courtney and Bart Jackson of Lee & Associates.
-Royal Phones leased 1,461 square feet at College Park Shoppes, 8403 W. 86th St. The landlord, Sandor Development, was represented by Sandor's Drew Kelly. The tenant represented itself.
-Zully Castellanos Men’s Barbershop leased 1,200 square feet at Indy Pavilions, 7035 E. 96th St. The landlord, Sandor Development, was represented by Sandor's Drew Kelly. The tenant represented itself.
-Edward Jones leased 1,092 square feet of office space at 1160 N. State Road 135, Greenwood. The tenant was represented by David Ellis of Fenway Real Estate Services. The landlord, VisionWare LLC, was represented by Cathy Richards of Lee & Associates.
-Signature Systems leased 433 square feet at Auburn Woods Park, 9640 Commerce Drive, Carmel. The landlord, Sandor Development, was represented by Lawrence Morrisey of Corporate Commercial Group. The tenant represented itself.
Construction
-Capitol Construction has completed a 4,500-square-foot management office and fitness center at 11555 N. Meridian St., Carmel.
-Capitol Construction has completed a 2,400-square-foot build-out for Selective Insurance Group Legal at 11711 N. Meridian St., Carmel.
-Capitol Construction has completed a 14,500-square-foot office remodel for BKD at 201 N. Illinois St.
Panel’s use of TIF funds spurs new flap in Carmel
The cash-strapped Carmel Redevelopment Commission is revising its 2014 budget to account for the loss of a six-figure income stream critics say it was not entitled to use in the first place.
Other 2013 news of note: From Pacers to panhandling
A look at some of the runner-up top Indianapolis business stories from 2013.
Indianapolis-based hedge funds subject to market forces, too
Five years after the crash, the luster of hedge funds isn’t what it used to be.
Cord Camera to close remaining Indianapolis store
A camera business that once had more than 30 locations in Ohio and Indiana is closing six of its remaining eight stores in the face of dropping sales and increased use of smartphone cameras.
Geico could double Carmel work force by year’s end
Insurance giant Geico is ahead of schedule when it comes to staffing its Carmel customer-service center, reaching the 400-employee mark in December.
State lags city with science, tech jobs
Careers in science, technology, engineering and math—typically referred to as STEM fields—have surged in growth compared to other careers in Marion and Hamilton counties. But the rest of Indiana has barely budged from the early 2000s.
Ex-Star reporter lands Carmel consulting deal
Carmel reporter Dan McFeely quit the layoff-prone Indianapolis Star in November to become a consultant to Carmel’s Department of Economic Development. Records show the deal could be lucrative for the 15-year Star veteran, with the potential to earn up to $99,000 a year.
Developer plans $80M project in Carmel
Apartment specialist Edward Rose Properties Inc. is proposing an $80 million mixed-use project on mostly undeveloped land in Carmel’s Old Meridian District.
Sales/acquisitions
-Seabury Charter LLC bought 1.859 acres at 2295 N. Illinois St. The buyer was represented by R.J. Rudolph and Yumi Goodman of Colliers International. The seller, MMW Corp., was represented by Ross Reller of Colliers International.
-M&D Noblesville LLC bought 2.01 acres of retail land at 16080 Prosperity Drive, Noblesville. The buyer was represented by Tom Osborne of Colliers International. The seller, Marsh Supermarkets Inc., was represented by Jeff Merritt of Colliers International.
-C-K Real Estate Investments bought a third of an acre in the Bridgewater Corporate Park at 4661 Lisborn Drive, Carmel. The site will house a 4,000-square-foot office building for the Crossen Kooi law firm. The buyer was represented by Pat Chandler of ReMax at Keystone Crossing. The seller, John McKenzie, represented himself.
-Insight Consulting bought a 15,395-square-foot building at 7830 Johnson Road. The buyer was represented by Jacqueline Haynes of Cassidy Turley. The seller, QAI, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.