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Articles
Blame Penn State administrators
I take exception to Benner [Jan. 16 column] adding Pennsylvania State University in with the other schools that had football scandals.
ITT Educational’s profit plunges, but tops analyst expectations
The Carmel-based operator of for-profit colleges earned $76 million in the quarter compared with $97.5 million in the same quarter of 2010. Revenue fell 10 percent.
What’s New: Happy Dog Hotel and Spa
This week, meet Bev Schroeder, who opened Happy Dog Hotel and Spa in Carmel last month.
House Dems lose right-to-work referendum vote
Indiana House Democrats walked off the floor Monday after losing an effort to put a right-to-work measure aimed at unions before voters, possibly resuming an off-and-on boycott strategy aimed at derailing the measure for the second straight year.
Indiana House Dems return after right-to-work boycott
Indiana House Democrats have returned to work at the statehouse after a boycott over divisive right-to-work legislation by moving to strike down the measure.
Construction
-Kort Builders has completed a 964-square-foot retail space for Trichology Salon at 1440 Clay Terrace Blvd., Carmel.
-Kort Builders has started a 5,040-square-foot build-out for Tin Roof restaurant at 36 S. Pennsylvania St.
-Kort Builders has started a 2,300-square-foot build-out for Ossip Optometry at 54 Monument Circle.
-Kort Builders has started a 3,812-square-foot build-out for Massage Envy, 8555 River Road.
Leases/leasing contracts
-Sterling Electric Inc. leased 70,400 square feet of industrial space at 7973 Allison Ave. The tenant was represented by Sean McHale of Colliers International. The landlord, Prologis, was represented by Elizabeth Kavchak of ProLogis.
-Phoenix Material Management extended and expanded its lease and will now occupy 70,400 square feet of industrial space at Plainfield Industrial Park, 923 Whitaker Road, Plainfield. The tenant was represented by Rick Suja of Colliers International. The landlord, KPIV 923 Whitaker Road LP, was represented by Luke Wessel of Cassidy Turley.
-Forward Air Inc. leased 38,250 square feet of industrial space at 2363 Perry Road, Plainfield. The tenant was represented by Michael Bauer of Fischer & Co. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.
-GVS Filter Technology renewed its lease of 17,600 square feet of industrial space at 5303-5373 W. 79th St. The tenant was represented by Michael Weishaar of Cassidy Turley.The landlord, Duke Realty Corp., was represented by Duke’s Kate Willen Ems.
-Rocket Epicurean Ventures LLC leased 9,325 square feet of industrial space off at 602 N. Park Ave. The landlord, Tway Properties LLC, was represented by D. Bryan Weese of Bingham McHale LLP. The tenant represented itself.
-Williamson Auto Body leased 7,301 square feet of retail space in Esquire Plaza, 8347 Pendleton Pike. The landlord, Sandor Development, was represented by Sandor’s Jeff Roberts. The tenant represented itself.
-Bycan-Sellen Associates leased an additional 6,400 square feet of industrial space at 7998 Centerpoint Drive. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.
-Schmidt Mortgage leased 3,415 square feet in Hamilton Crossing III, 12800 N. Meridian St., Carmel. The tenant was represented by Jenna Barnett of Newmark Knight Frank Halakar. The landlord, Duke Realty, was represented by Duke’s Adam Seger.
-PolicyStat leased 3,026 square feet in Hamilton Crossing III, 12800 N. Meridian St., Carmel. The tenant was represented by Chris Carmen of Carmen Commercial Real Estate. The landlord, Duke Realty, was represented by Duke’s Adam Seger.
-Indy X Fitness leased 2,570 square feet of retail space in The Pointe, 1259 N. State Road 135, Greenwood. The tenant was represented by Cathy Richards of Lee & Associates. The landlord, Sun Greenwood LLC, was represented by Cathy Richards and Jim Karozos of Lee & Associates.
-3D Recreation leased 2,444 square feet of retail space in Fall Creek Harbour, 10142 Brooks School Road, Fishers. The tenant and landlord, FCH Associates LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates
-Paradise Tanning leased 2,170 square feet of retail space in Ashley Crossing, 733C Lowes Blvd., Greenwood. The landlord, Sandor Development, was represented by Sandor’s Jeff Roberts. The tenant represented itself.
-Diva Nails leased 1,530 square feet of retail space in Honey Creek Plaza, 5346 W. 38th St. The landlord, Sandor Development, was represented by Sandor’s Drew Kelly. The tenant represented itself.
-The Gabriel Project leased an additional 684 square feet at 5455 W. 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Dan Baldini of Polaris. The tenant represented itself.
Sales/acquisitions
-Cranfill Development bought the 11,127-square-foot Merchants’ Pointe retail building at 2271 Pointe Parkway, Carmel. The building had been listed for $1.1 million. The sale price wasn’t disclosed. The buyer was represented by Michael Cranfill of Sitehawk Retail Real Estate. The seller, Indiana Bank & Trust, was represented by Jackie Haynes of Cassidy Turley.
-William Sollenberger bought a 12,400-square-foot industrial property at 468 Gradle Drive, Carmel. The price wasn’t disclosed. The buyer was represented by Drew Patton of Northern Commercial. The seller, McCoy Investments, was represented by Don Treibic of Cassidy Turley.
-AO Realty LLC bought a 43,253-square-foot-industrial property at 1205 W. South St., Lebanon. The price wasn’t disclosed. The seller, Solideal USA, was represented by Kelly Williams and Ray Simons of Cassidy Turley. The buyer represented itself.
-Team Six Properties LLC bought a 48,000-square-foot industrial property at 1800 Commerce Parkway, Franklin. Both the buyer and seller, Klaisler Manufacturing Corp., were represented by Don Treibic and Fritz Kauffman of Cassidy Turley.
For-profit colleges face curbs on aid in new veterans bill
For-profit colleges like Carmel-based ITT Educational Services would be forced to rely less on federal money under a bill aimed at curbing the marketing of degrees to soldiers and veterans.
Bill aims to lift upside for 21st Century fund
Republican State Sen. Brent Waltz has filed a bill that would require the Indiana Economic Development Corp. and businesses seeking awards from the 21st Century fund to match the state’s money with outside capital at a four-to-one ratio.
Falling home inventory suggests market is firming up
About 12,000 homes were listed for sale at the end of December in the nine-county central Indiana market, a roughly 18-percent drop from a year earlier.
Restaurants and stores plan new Indy locations
Off Broadway Shoes highlights new retailers entering the market.
STYRING: Beware of mass transit boondoggles
Getting people out of their cars to use something more time-consuming and less convenient is a tall order.
Indianapolis-area mergers and acquisitions in 2011
A number of acquisitions last year disclosed no sale price. In the Indianapolis area, those deals ranged from MacAllister Machinery’s purchase of a Caterpillar dealership in Michigan to Herff Jones’ acquisition of a Memphis, Tenn.-headquartered maker of cheerleading uniforms.
Indiana deals ranged upward of $800 million
Mergers and acquisitions in 2011 ranged from WellPoint’s acquisition of CareMore to a trucking company merger.
Indiana basketball tourney format to get second look
A state Senate committee rejected an effort Wednesday to resurrect Indiana's single-class high school basketball tournament, but the head of the statewide high school athletics governing body agreed to review the current format.
Entrepreneurs take risks without betting the farm
Some small-business owners are taking divergent paths to build revenue during difficult economic times. Some are adding products and services, while others are focusing on core competencies. What’s your take on the different strategies?
Financial review questions some spending at Carmel arts center
A taping of the PBS show "The Sinatra Legacy" was one of the activities the board of directors reviewed after former CEO Steven Libman resigned last summer.