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Daniels touts tax credit from $2B Indiana surplus

July 3, 2012

Indiana Gov. Mitch Daniels is touting state cash reserves he says will send an additional $100 to each Indiana taxpayer through automatic tax credits next year.

Bus seat maker to start production in Indiana

July 3, 2012

A German company that makes passenger seats for buses and trains plans to start its first U.S. manufacturing facility in northern Indiana, creating up to 62 jobs.

New ‘Spider-man’ not so amazing

July 3, 2012

What bugged me about the latest arachnid adventure.

Rivoli Theatre finally cleared for comeback

July 2, 2012

A legal battle that had threatened the east-side landmark has been settled, and a $300,000 grant has been secured to begin stabilizing it.

Correction

July 2, 2012

Cesar’s Group Fitness Studio leased 8,400 square feet of retail space in 96th Street Station Shopping Center, 9546 Allisonville Road, Suite 117. The tenant was represented by Tracey Holtzman of Midland Atlantic. The landlord, LOR Corp., was represented by Jacque Haynes of Cassidy Turley. The square footage was incorrect in last week’s Real Estate Weekly.

Construction

July 2, 2012

-Kort Builders has completed a 7,000-square-foot retail space for Lakeshore Learning at 1300 E. 86th St.

-Kort Builders has completed a 3,000-square-foot office space for Willow Marketing at 3590 N. Meridian St.

-Kort Builders has completed a 900-square-foot retail space for Midwest Wireless at 1428 W. 86th St.

People

July 2, 2012

Amy Masterson has joined Polaris Property Management LLC as a property manager.

Residential

July 2, 2012

The average rate for 30-year mortgages was unchanged at 3.89 percent for the week ended June 27, according to Bankrate.com. The rate for 15-year mortgages was unchanged at 3.16 percent.

Leases/leasing contracts

July 2, 2012

-Jacobson Warehouse Co. leased 150,577 square feet of industrial space at 7900 Rockville Road. The tenant was represented by Joe Lauinger of Mohr Partners. The landlord, Equity Industrial A-Rockville LLC, was represented by Luke Wessel and Todd Vannatta of Cassidy Turley.

-Indiana Discount Mall renewed its lease for 87,824 square feet of retail space at Lafayette Place, 3585 Commercial Drive. The tenant and landlord, Sandor Development, represented themselves.

-SE Warehousing & Logistics Inc. leased 49,988 square feet of industrial space at 3250 N. Post Road. The tenant was represented by Greg Witkowski of CBRE. The landlord, Forester Properties Inc., was represented by Bryan Poynter of Cassidy Turley.

-Fineline Office Furniture leased 11,253 square feet of industrial space at 5665 W. 79th St. The tenant was represented by Glenn Davis of Colliers International. The landlord, GI Partners, was represented by Bryan Poynter and Russ Van Til of Cassidy Turley.

-Beauty Town renewed its lease for 8,000 square feet of retail space at Honey Creek Plaza, 5332 W. 38th St. The tenant and landlord, Sandor Development, represented themselves.

-Carmel Specialty Surgery Center LLC leased 7,278 square feet at 11590 N. Meridian St., Carmel. The tenant was represented by Tom Osborne and Kim Hartman of Colliers International. The landlord, Fidelity Office Building II LP, was represented by Mike Napariu of REI Real Estate Services LLC.

-Nationwide Insurance leased 4,421 square feet at Penn Mark II, 11555 N. Meridian St., Carmel. The tenant was represented by John Vandenbark of CBRE. The landlord, Zeller Realty Group, was represented by Zeller’s Tristan Glover.
 
-K&B Models Inc. renewed its lease for 3,000 square feet of industrial space in Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.

-Altered Physique Inc. leased 3,000 square feet of retail space at 8840 N. Michigan Road. The tenant was represented by Dan Baldini of Polaris Real Estate. The landlord, Fortune Park Retail Center LLC, was represented by Scott Levinson of Urbahns Companies Inc.

-American Income Life Insurance Co. leased 2,980 square feet at One College Park, 8910 Purdue Road. The tenant was represented by Nick Svarczkopf of CBRE.  The landlord, Zeller Realty Group, was represented by Zeller’s Tristan Glover.

-Violet Vintage leased 2,460 square feet of industrial space in Park Plaza, 5781 Park Plaza Court. The tenant was represented by Spero Pulos of Lee & Associates. The landlord, First Industrial Trust, represented itself.

-Foundation Financial Group renewed its lease for 2,419 square feet of retail space at Indy Pavilions, 7035 E. 96th St., Unit S. The tenant and landlord, Sandor Development, represented themselves.

-Instant Tax Service renewed its lease for 2,209 square feet of retail space at Eagledale Plaza, 2802 N. Lafayette Road, No. 15. The tenant and landlord, Sandor Development, represented themselves.

-Art2link leased 1,544 square feet at Meridian Mark II, 11711 N. Meridian St. The tenant was represented by Nick Svarczkopf of CBRE. The landlord, Zeller Realty Group, was represented by Zeller’s Tristan Glover.

Sales/acquisitions

July 2, 2012

-Capitol Construction bought a 9,200-square-foot office building at 11063 Village Square Lane, Fishers. The price wasn’t disclosed. The buyer was represented by John Vandenbark of CBRE. The seller, Offices of VS Fishers LLC, was represented by Keith Dedrick of Corporate Commercial Group.

-Morning Dove Therapeutic Riding Inc. bought 28.4 acres at County Road 500 South and County Road 650 East in Whitestown. The price wasn’t disclosed. The seller, Jeanette T. Stokely Trust, was represented by Bo Leffel of Cassidy Turley. The buyer represented itself.

-Gary A. Bieberich bought a 2,700-square-foot retail building at 8306 Pendleton Pike. The price wasn’t disclosed. The seller, The Mary L. Higgins Living Trust, was represented by Jacque Haynes and John Byrne of Cassidy Turley. The buyer represented itself.

Fireworks ban carries stiff penalties

July 2, 2012

An executive order that bans personal fireworks use in Marion County carries hefty fines. Indianapolis Mayor Greg Ballard issued the emergency declaration Saturday because of the drought and severe fire risk. The ban includes Indianapolis and Speedway, but not Lawrence. It does not apply to professional fireworks displays licensed by the state. Police have been instructed to respond to first violations with warnings, but repeat violators face fines up to $2,500 or misdemeanor charges that carry penalties of up to 180 days in jail.

Weekend shooting kills one

July 2, 2012

A weekend shooting left one person dead and another injured near 30th Street and Capitol Avenue on the north side of Indianapolis. Tavein Brashear, 21, was pronounced dead at the scene early Sunday morning near Fire Station 14. The second victim, Jarrett Hall, 19, suffered a gunshot wound to the leg and was taken to Wishard Hospital in good condition. Police think the shots were fired from a passing vehicle. Some of the shots struck the fire station.

Loss of Hibbert would be tough for Pacers fans to stomach

July 2, 2012

Pacers' new basketball operations boss Donnie Walsh faces his first difficult decision concerning restricted free agent Roy Hibbert.

Drought could have mixed impact for Indiana farmers

July 2, 2012

Agriculture experts say some Indiana farmers are already facing big crop losses because of this summer's drought.

Indiana fireworks bans hitting dealers hard

July 2, 2012

Fireworks retailers around Indiana say their sales have taken a big hit from the fireworks bans being put in place because of the state's drought conditions.

UPDATE: BrightPoint sale follows tough stretch for firm

July 2, 2012

Given the soft cell phone market and Brightpoint’s recent struggles, a sale to California-based Ingram Micro for about $840 million makes sense, analysts say. The two companies announced the acquisition early Monday morning.

J.C. Penney closing distribution center, laying off 230

July 2, 2012

The distribution center, which opened in 2002 near the Indianapolis International Airport, will close by the end of September, company officials said.

IndyCar seeks presenting sponsor, bigger schedule

July 2, 2012

IndyCar Series officials have approached two of its existing sponsors, Verizon Wireless and Firestone, about becoming the open-wheel race series’ presenting sponsor, a deal motorsports business experts said could be worth $3 million annually.

Drought sets records for Indianapolis, Evansville

July 2, 2012

Last month was the driest June on record for Indianapolis and Evansville, the National Weather Service says. Weather service figures show both cities received less than half as much rain as their previous records.

Roundup: Half Price Books, GFS, Mr. Dan’s, Granite City

July 2, 2012

Several retailers and restaurants are making moves in Indianapolis. For the latest, make sure to follow @PropertyLines on Twitter.

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