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Colts confident they can sell new luxury suites

Colts officials say local demand remains high for suites, even as other NFL teams struggle, and that season-ticket renewals are at 95 percent. The city will foot the $2 million bill for two new suites at Lucas Oil Stadium.

House OKs high-fence hunting bill, but fate murky

Supporters of the bill say it is needed to resolve an eight-year-old lawsuit over attempts by the Indiana Department of Natural Resources to shut down the existing deer preserves.

Construction

Capitol Construction has completed a 2,800-square-foot retail build-out for Yo Yo Yogurt at 6685 E. State Road 334, Zionsville.

Residential

The average rate for 30-year mortgages fell from 3.73 percent to 3.64 percent for the week ended April 10, according to Bankrate.com. The rate for 15-year mortgages fell from 2.95 percent to 2.89 percent.

People

Jeffrey Merritt has joined Colliers International as vice president of commercial services.

Leases/leasing contracts

-TF Publishing leased 115,000 square feet at 4200 Industrial Blvd. The tenant was represented by Mark Writt of CBRE. The landlord, Roll International Corp-Paramount Farms, was represented by Steven Schaub and Matt McGrady of Summit Realty Group.                

-Health Care Excel Inc. leased 16,044 square feet at 2601 Metropolis Parkway, Plainfield. The tenant was represented by Yumi Prater of Colliers International. The landlord, Edgewood Capital Advisors LLC, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.

-CDC Distributors leased 6,906 square feet of industrial space at 4625 W. 86th St. The tenant was represented by Joe Lonnemann of Ambrose Property Group. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.

-Presto Business Technologies LLC leased 6,800 square feet of industrial space at 8435 Georgetown Road. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley. The tenant represented itself.

-Midwest Structural Products Inc. leased 5,250 square feet at 146 South Park Blvd., Greenwood. The tenant was represented by Keith Turnbill of RE/MAX Select Realtors. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.                

-Cynthia Bangda Inc. leased 3,600 square feet of industrial space at 5303-5331 W. 86th St. The landlord, Forester Properties Inc., was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.  

-Indianapolis Ballet dba Indianapolis School of Ballet leased 2,450 square feet of office space at 500 N. Capitol Ave. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, Cadillac Building Inc., was represented by Scott Lindenberg of Reliant Partners LLC.

-Optical Technologies Inc. renewed its lease for 2,224 square feet at 62 South Park Blvd., Greenwood. The tenant, Optical Technologies Inc., was represented by Pam Smith of Realty World. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.                

-Unique Insurance Co. leased 1,759 square feet of office space at 3500 DePauw Blvd. The tenant was represented by Brooke Sipe of Alliance Commercial Real Estate. The landlord, Sterling American Property Inc., was represented by Bennett Williams, Dave Moore and Darrin Boyd of Cassidy Turley.

-Johnson Grossnickle & Associates Inc. has expanded its lease by 1,318 square feet to occupy a total of 6,083 square feet at 29 South Park Blvd., Greenwood. The tenant was represented by Spud Dick and John Crisp of Cassidy Turley. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.                

-Rick Borges Real Estate Service Inc. has leased 1,086 square feet at 27 S Park Blvd., Greenwood. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group. The tenant represented itself.

Sales/acquisitions

-Balkan Realty LLC bought a 1,400-square-foot office suite at 12574 Promise Creek Lane, Suite 112, Fishers. The seller, First Financial Collateral Inc., was represented by Paul Dick and Kevin Dick of Colliers International. The buyer represented itself.  

-Baldwin & Lyons Inc. bought a 180,000-square-foot building at 111 Congressional Blvd., Carmel. The buyer was represented by Matt Langfeldt, Rich Forslund and Matt Waggoner of Summit Realty Group. The seller, Lauth Property Group, was represented by Rick Trimpe and John Vandenbark of CBRE.

Lower tuition OK’d for some illegal immigrants

Persons who entered the country illegally and were attending Indiana public colleges when a state immigration law passed two years ago would again be eligible for in-state tuition rates under a bill approved by the Indiana House.

House OKs IMS bill, despite dispute over funding source

A bill to help pay for $100 million in improvements at the Indianapolis Motor Speedway passed the House on Monday—but only on its second try, as some lawmakers expressed frustration about tapping horse racing money for the projects.

State legislator defends supporting daughter’s client

A powerful Indiana House Republican on Monday defended his decision to support a Utah company his daughter represents as a Statehouse lobbyist, one week after Gov. Mike Pence placed a hold on state aid to a company run by the lawmaker's son.

Pacers safe in Boston after bomb attack at marathon

The team was in Boston Monday, preparing for its upcoming game against the Celtics. At least two people were killed and dozens wounded in a bomb attack near the finish line of the Boston Marathon.

Construction begins on $16M downtown apartment project

Located at 800 N. Capitol Ave., the former Litho Press building is receiving a total rehab from two local developers who are retrofitting it with 111 units. The project should be finished by the end of the year.

Report: Medicaid expansion could juice economy

Proponents of a Medicaid expansion in Indiana are playing up the economic boost the state and its businesses could see from the expansion of health insurance coverage called for by President Obama’s health reform law.

Company news

Eli Lilly and Co. wants the city of Indianapolis to give it $30.6 million in tax breaks on a $400 million project that includes a new manufacturing facility and improvements to existing operations downtown. The Metropolitan Development Commission will weigh two Lilly requests for 10-year tax abatements at its meeting at 1 p.m. Wednesday. Over the last several months, the pharmaceuticals giant has rolled out plans for a manufacturing plant southwest of downtown where the firm will manufacture cartridges for insulin. Construction is already under way for the 164,000-square-foot plant on South Harding Street, adjoining Lilly’s existing manufacturing complex known as Lilly Technology Center. Lilly’s investment in the project is estimated at $320 million. In addition, it is planning a new inspection facility that will add another 30,000 square feet to the project, plus renovations to existing buildings on the Lilly Technology Center campus and the Lilly Corporate Center. As a result of the project, the firm said it will be able to retain 175 Indianapolis employees who will earn an average of $30.96 per hour, according to the abatement requests. Over the 10-year period of the two abatements, Lilly still would pay $22.2 million in taxes on the new construction, renovations and equipment.

Matrix-Bio Inc., a Fort Wayne-based diagnostics company, has signed a licensing and marketing agreement for a breast cancer test with New Jersey-based giant Quest Diagnostics. Under the agreement, Quest will have the rights to use metabolic breast cancer biomarkers developed by Matrix-Bio to create a new lab test to detect the recurrence of breast cancer. Quest will co-fund clinical studies with Matrix-Bio and, if those are successful, market the test as a lab service in the United States and other countries. Quest also has the option to pursue an appropriate regulatory pathway for an in vitro diagnostic version of the test. Financial terms of the deal were not disclosed.

Two Purdue University professors have received a $3 million grant from the National Institutes of Health to understand why some children grow out of stuttering. They will use their findings to develop a speech therapy screening tool to identify which preschool children are not likely to recover from stuttering and should receive therapy immediately. Professors Anne Smith and Christine Weber-Fox will use the five-year grant to follow 100 children who stutter. Their research, which began with Smith in 1988, has been funded by the NIH's National Institute on Deafness and Other Communication Disorders for more than 25 years and has received more than $13 million in grant awards.

Ball State University's School of Nursing is partnering with Indianapolis-based hospital system Community Health Network to create the Nursing Academy, an accelerated degree program designed to increase the number of registered nurses in Indiana. The Nursing Academy will kick off this fall by offering students classes at Ball State, online and via video conferencing. Its students also will work at Community’s eight hospitals. The Community Health Network Foundation will fund scholarships for the 24 students representing the academy's inaugural class. The academy hopes to ramp up to enroll 48 students each year.