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Kurt Beier
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Longtime developer undergoes changes: Shopping centers prove fruitful for Zinkan & Barker

April 24, 2006

Stephen Zinkan is one persistent fellow. The veteran real estate developer began knocking on the door of Cincinnati-based The Kroger Co. in the early 1990s, in an attempt to build his firm’s portfolio. He and Kelly Flynn had founded Flynn & Zinkan Realty Co. in the early 1980s and carved a niche developing groceryanchored shopping centers. Amid the rejections, Zinkan, 56, implored Kroger to give him its toughest assignment. The corporation relented and handed him property at 71st Street and…

Scholar’s Inn ready to rise: Starbucks-like strategy: ‘Bread for the masses’

April 24, 2006

Scholar’s Inn bakers load delivery trucks with more than 5,000 loaves of bread each week. And each time head bread baker Jeff Duez rolls a rack of apricot almond bread out to the loading dock, he ducks his head. A 5-foot-high doorway separates the bakery’s Bloomington kitchen from the ramp where delivery trucks pull up twice daily. That’s one of the many inefficiencies co-owner Lyle Feigenbaum addressed when he purchased a 10,000-squarefoot production facility the company will fire up this…

Required agent, broker education now available online: Rule change gives them option of Web or classroom

April 24, 2006

Indiana real estate agents and brokers need not venture outside the comforts of their homes to complete continuing-education requirements, thanks to a rule change allowing providers to offer courses online. Licenses expire every two years, and 16 hours of continuing education must be completed in that span for professionals to remain in good standing. The Indiana Real Estate Commission adopted the change that took effect April 1. “Rather than having to go to a hotel room or a physical classroom…

NASCAR a big deal for IRST: Role as security products provider could be worth $100M

April 24, 2006

Ingersoll Rand Security Technologies has been named NASCAR’s first official provider of security products, a deal that could mean substantial growth for the company’s Carmel headquarters and an Indianapolis manufacturing plant, which together already employ 900. IRST is a division of Bermuda-based behemoth Ingersoll-Rand Co., which is better known for agricultural, construction and transportation equipment sold under names such as Bobcat and Thermo King. The link with the racing circuit is expected to drive home the point that Ingersoll-Rand is…

Tower’s leasing power should weather storm: Brokers say One Indiana Square will remain attractive

April 24, 2006

Several downtown leasing agents doubt the storm damage incurred at One Indiana Square will have a significant impact on the tower owners’ ability to attract future office tenants. In fact, a few contend their quick response to containing the fallout from displaced occupants could even make the building more attractive. “There are a lot of people who never have this challenge put in front of them,” said Jeff Harris, president of locally based Meridian Real Estate and a former marketing…

BEHIND THE NEWS: Just before sentencing, failed exec judged incompetent

April 24, 2006

Angry investors in James T. O’Neal Jr.’s failed auto mall company have waited nearly a decade for the Carmel native to get his comeuppance. They thought that day would come this spring, at his sentencing on two felony charges stemming from what investigators say was a scheme to swindle the rich and famous in Indianapolis and central Florida out of millions of dollars. But now a psychiatrist has concluded that “O’Neal is suffering from a mental disease rendering him unable…

Real estate experts examine the market: Indianapolis in good shape overall, panelists say, but job growth, incentive issues, among concerns

April 24, 2006

On April 14, as part of its Power Breakfast Series, the Indianapolis Business Journal gathered a panel of commercial real estate and construction experts to discuss industry conditions in the local market. In a discussion moderated by IBJ Editor Tom Harton, panelists took on a wide range of issues, including tax incentives and the status of downtown’s residential and retail markets. Power Breakfast guests were Mike Curless, executive vice president and principal with Lauth Property Group; Mike Wells, president of…

Tech acquisitions are bittersweet: Investors win, but state loses headquarters

April 24, 2006

In the past two weeks, central Indiana’s two fastest-growing high-tech companies have announced their sales to larger out-of-state firms. Local leaders are of two minds about it. On the one hand, there’s the enormous payday for investors. Massachusetts-based Hologic Inc. is buying Indianapolis-based medical-device maker Suros Surgical Systems Inc. for at least $240 million. And St. Louis-based TALX Corp. scooped up Carmelbased Internet testing firm Performance Assessment Network Inc. for $75 million. Optimists hope to see much of that money…

Suburban residents slow to jump on vanpool bandwagon: Neither cost nor environmental advantages stir the masses; advocate says ’employers need to get smarter’

April 17, 2006

The federally funded Central Indiana Commuter Services has finally won over a dozen workers to share a van to and from work-somewhat of a feat in a region where a vanpool might as well be a bathing option for a conversion van. Besides a vanpool program that runs between Cloverdale and Indianapolis, CICS recently signed on a handful of Fishers residents to share a seven-passenger van between the Hamilton County town and downtown Indianapolis. Lately, CICS has been trying to…

Bank’s price fell $100M: Union Federal buyer cut offer as negotiations dragged on; investors pushed for liquidity

April 17, 2006

No wonder word leaked early this year that Union Federal Bank was about to be sold. A new federal filing reveals that a deal had been brewing since early last year-spawned largely by mounting frustration among investors that they were unable to turn their stake in the bank’s privately held parent, Fort Wayne-based Waterfield Mortgage Co., into cash. “The concerns over liquidity were voiced by many shareholders at Waterfield Mortgage’s annual shareholders’ meeting in the spring of 2004,” according to…

Circle Centre’s 4th floor may drum up office tenant: Percussive Arts Society lease could spawn other deals

April 17, 2006

The Lawton, Okla.-based Percussive Arts Society might announce as early as next month that it’s moving its 12 headquarters employees into 15,000 square feet on the troubled fourth floor of Circle Centre mall, according to a source familiar with the discussion. Roughly 10,000 of those square feet would be a museum that might get bongo enthusiasts and the curious alike to stop by and check out some Thai button gongs and West African talking drums. If all goes as planned,…

Separating emotion from reality: Home-staging companies help ‘sell that house’

April 10, 2006

Shakespeare wrote that “all the world’s a stage,” but when it comes to the competitive home-sales market, one might say all the world’s about staging. Home staging-the process of making a home more appealing to potential buyers-has gained recognition through popular cable television programs such as “Designed to Sell” and “Sell This House.” It can run the gamut from repainting walls to tearing them down, or from changing window treatments to replacing windows. Interior designer Marion Stewart and her longtime…

Local facility first to offer overnight help for anorexia: Lotus House fills void for those with eating disorders

April 10, 2006

A spacious home near Stony Creek in Noblesville once known as the Hare estate has been transformed into an intensive treatment facility for young women struggling with severe eating disorders. Dubbed Lotus House, the three-story residence began hosting patients in October. Partners Patrick Hall, 40, and Misty Rees, 33, founded the facility to provide an inpatient alternative to standard care. The facility, which offers therapies for anorexia nervosa and bulimia, is just the second in the Indianapolis area to treat…

Steep loss forecast for Standard Management: Company still anticipates closing deals for more financing as SEC annual report deadline looms

April 10, 2006

Standard Management Corp. is projecting a 2005 loss topping $20 million, and its stock has fallen below a minimum share price required by the NASDAQ exchange. The Indianapolis pharmaceutical-services firm also missed a deadline to file its annual report, as a push to arrange more financing “has consumed a substantial portion of management’s time and limited resources,” according to a March 31 filing with the U.S. Securities and Exchange Commission. Company leaders expect a $20.3 million loss from continuing operations….

Repairs to tower may take months: Tenants scramble for other arrangements

April 10, 2006

It was a symbol of his success. For the last three years, environmental attorney Robert Clark has relished the view from his corner office in One Indiana Square, high above the streets of Indianapolis. But on Sunday, April 2, tornadoforce winds left it in tatters. His family photos are gone. Likewise his case files and the many gifts he’d received over the years from friends or clients. “I understand there are no exterior walls,” he said. “My desk is still…

Financial Strategies Mortgage Inc.: Training firm meeting national demand More states require continuing education for mortgage lenders

April 10, 2006

Launched in 1998 by consultant Aaron Wilson, the training firm is cashing in on the national demand for continuing education programs. Revenue topped $5 million last year, a significant jump from the $200,000 the company collected the first year it offered classes. Financial Strategies found its focus in 2000, when the state began requiring loan officers in Indiana to take continuing education classes-even though there weren’t any classes here for them to take. Wilson jumped on the opportunity. “In one…

SPORTS: Final Four manager enjoys his shining moments

April 10, 2006

On the day after the Men’s Final Four Basketball Tournament concluded, the NCAA’s Greg Shaheen said two national champions had been crowned: The University of Florida in winning, and the city of Indianapolis in hosting. For the local organizers, that was some sweet praise coming from an NCAA guy. Sure, one could question Shaheen’s objectivity. As many know, the 38-year-old is an Indianapolis/Carmel native who not that long ago was one of those local organizers. At the 1997 Indy Final…

Ovation liquidates assets as part of Chapter 11 filing: Stores will remain open under new ownership

April 10, 2006

Indianapolis-based Ovation Audio Video Specialists has emerged from bankruptcy, and some creditors are saying they got the short end of the amplifier. The high-end consumer electronics retailer filed Chapter 11 on Oct. 14 after 19 years in business. Creditors are upset because the bankruptcy case quickly became an asset sale rather than a typical Chapter 11 reorganization. They’re also suspicious that the company’s president walked away with some of the best assets. “Although when they filed they talked about their…

Shared patient rooms in hospitals soon to be history: Guidelines call for private quarters in all new facilities

April 10, 2006

New guidelines due out in June will call for newly constructed hospitals to come equipped with all private patient rooms, the first time such a minimum requirement has been issued. The guidelines, published every four years by the Facilities Guidelines Institute and the American Institute of Architects’ Academy of Health, are used by nearly 40 state governments-including Indiana-to set regulations, approve construction plans and license hospitals to operate. And hospitals nationwide-including those in Indiana-are expected to embrace the guidelines that…

ECONOMIC ANALYSIS: Urban growth crucial for regional prosperity

April 10, 2006

Oakland County, Mich., located northwest of the city of Detroit, is home to some of the wealthiest communities in the nation. Its per capita income consistently ranks it nationally in the top-five counties, and a visual tour of its majestic homes, well-funded private schools and sumptuous amenities confirms the material wealth of its residents. So why aren’t economic developers trekking north to Michigan to discover the secrets of this county’s economic success? The answer is simple: Oakland County is also…

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People

Kurt Beier

Articles

Longtime developer undergoes changes: Shopping centers prove fruitful for Zinkan & Barker

Scholar’s Inn ready to rise: Starbucks-like strategy: ‘Bread for the masses’

Required agent, broker education now available online: Rule change gives them option of Web or classroom

NASCAR a big deal for IRST: Role as security products provider could be worth $100M

Tower’s leasing power should weather storm: Brokers say One Indiana Square will remain attractive

BEHIND THE NEWS: Just before sentencing, failed exec judged incompetent

Real estate experts examine the market: Indianapolis in good shape overall, panelists say, but job growth, incentive issues, among concerns

Tech acquisitions are bittersweet: Investors win, but state loses headquarters

Suburban residents slow to jump on vanpool bandwagon: Neither cost nor environmental advantages stir the masses; advocate says ’employers need to get smarter’

Bank’s price fell $100M: Union Federal buyer cut offer as negotiations dragged on; investors pushed for liquidity

Circle Centre’s 4th floor may drum up office tenant: Percussive Arts Society lease could spawn other deals

Separating emotion from reality: Home-staging companies help ‘sell that house’

Local facility first to offer overnight help for anorexia: Lotus House fills void for those with eating disorders

Steep loss forecast for Standard Management: Company still anticipates closing deals for more financing as SEC annual report deadline looms

Repairs to tower may take months: Tenants scramble for other arrangements

Financial Strategies Mortgage Inc.: Training firm meeting national demand More states require continuing education for mortgage lenders

SPORTS: Final Four manager enjoys his shining moments

Ovation liquidates assets as part of Chapter 11 filing: Stores will remain open under new ownership

Shared patient rooms in hospitals soon to be history: Guidelines call for private quarters in all new facilities

ECONOMIC ANALYSIS: Urban growth crucial for regional prosperity