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Colts’ Irsay touches hot button with hotel issue

It's true, you don't build a church for Easter Sunday. Here's another truth; Indianapolis isn't getting a second Super Bowl unless another big, posh downtown hotel is built. So what's the city to do?

Local real estate developer files for bankruptcy

Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.

Indiana oil production surges amid high prices

Crude-oil production jumped 8.3 percent in Indiana in 2011, to just under 2 million barrels—the highest output in a decade, according to data from the Indiana Department of Natural Resources.

Production on Rolls-Royce LiftSystem picks up steam

Rolls-Royce Corp. said Tuesday that its landed a $315 million contract from Pratt & Whitney for its LiftSystem, which enables short takeoffs and vertical landings by the U.S. Marine Corps’ F-35B aircraft.

North American growth propels Cummins’ profit

Cummins Inc.'s profit jumped 33 percent in the first quarter due to strong demand for its engines in the North American market, the Columbus-based manufacturer said Tuesday morning.

CNO quarterly earnings jump on stronger sales

CNO Financial Group Inc. on Monday reported first-quarter earnings of $59.1 million, a 30-percent increase from the $45.1 million it earned in the same quarter last year.

Indiana announces proposed Duke Energy settlement

Duke Energy Corp. has agreed to cap the cost of its troubled coal-gasification plant in southwestern Indiana at $2.6 billion, or about $700 million less than the expected cost of construction, as part of a proposed settlement announced Monday.

Residential

The average rate for 30-year mortgages fell from 4.10 percent to 4.09 percent in the week ended April 25, according to Bankrate.com. The rate for 15-year mortgages fell from 3.32 percent to 3.28 percent.

Leases/leasing contracts

-The U.S. Attorney’s Office leased 44,412 square feet of office space in Market Tower, 10 W. Market St. The tenant was represented by Tim Craft of CBRE. The landlord, MT Acquisitions LLC, was represented by Dave Moore, Andy Martin, Darrin Boyd and Bennett Williams of Cassidy Turley.

-A&A Industrial Supply Inc. leased 12,000 square feet of industrial space at 5719 Kopetsky Drive. The tenant was represented by Todd Vannatta and Michael Weishaar of Cassidy Turley. The landlord, Gateway South LLC, was represented by Brian Dell of Summit Realty Group.

-EFI Global Inc. renewed its lease for 6,406 square feet of industrial space at 8091-8105 Center Run Drive. The tenant was represented by Kevin McCarron of CLW Real Estate Services Group Inc. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley.

-Mattress Firm leased 4,080 square feet of retail space in The Shoppes at River’s Edge, 4335 E. 82nd St., Suite 107. The tenant was represented by Scott Gray of Sitehawk Retail Real Estate. The landlord, River Retail LLC, was represented by Jamison Downs and Kyle Hughes of Veritas Realty.

-Accelerated Health Systems leased 3,200 square feet at Saratoga Shops, 1070 W. Main St., Plainfield. The tenant was represented by Jonathon Sharp of HAS Commercial Real Estate. The landlord, Saratoga Associates LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.  

-Panchero’s Mexican Grill leased 2,550 square feet of retail space in The Shoppes at River’s Edge, 4335 E. 82nd St., Suite 105. The tenant was represented by Donna Hovey of CBRE. The landlord, River Retail LLC, was represented by Jamison Downs and Kyle Hughes of Veritas Realty.  
 
-Grandbridge Real Estate Capital LLC leased 2,126 square feet at 11711 N. Pennsylvania St. The tenant was represented by Rick Trimpe of CBRE. The landlord, North Pennsylvania Associates LLC, was represented by Mike Napariu of REI Real Estate Services LLC.    

-DJ’s Hot Dog leased 2,030 square feet of retail space at Indy Pavilions, 7035 E. 96th St., Unit U. The landlord was represented by Drew Kelly of Sandor Development. The tenant represented itself.

-Altered Image renewed its lease for 1,700 square feet of retail space in Avon Creek, 10030 U.S. Highway 36, Avon. The landlord was represented by Sandor Development. The tenant represented itself.

-Art Nails renewed its lease for 1,650 square feet of retail space in Dori Plaza, 8315 E. Washington St. The landlord was represented by Sandor Development. The tenant represented itself.

-H&R Block renewed its lease for 1,600 square feet at Emerson Commons Shoppes, 6815 S. Emerson Ave. The tenant was represented by Kathryn Sulich of Cassidy Turley. The landlord, First Emerson Commons Way LLC, was represented by John Baker of Sitehawk Retail Real Estate.  

-Conway Communications Inc. leased 1,400 square feet of retail space in Southport Commons, 2134 W. Southport Road. The tenant was represented by Jamison Downs and Kyle Hughes of Veritas Realty.  The landlord, Belport LLC, was represented by Keith Kleinmaier of Retail Realty Inc.

-Coner’s Auto Sales leased 1,250 square feet of retail space in South Greenwood Shoppes, 6001 N. US 31, Whiteland. The tenant and landlord, HRCP Inc., were represented by Cathy Richards of Lee & Associates.

-Perfect Nails renewed its lease for 1,200 square feet of retail space at Indy Pavilions, 7035 E. 96th Street, Unit J. The landlord was represented by Sandor Development. The tenant represented itself.

-Check ‘n Go renewed its lease for 1,080 square feet of retail space in Esquire Plaza, 8201 Pendleton Pike. The landlord was represented by Sandor Development. The tenant represented itself.

-Nima Salon leased 700 square feet of retail space at Esquire Office Complex, 8375 Pendleton Pike, Suite 400. The landlord was represented by Jeff Roberts of Sandor Development. The tenant represented itself.

Sales/acquisitions

Pulte Homes of Indiana LLC bought Persimmon Grove, a 36.8-acre, unfinished residential development in Avon near Ronald Reagan Parkway and County Road 200 North. The price wasn’t disclosed. The buyer was represented by Janie Posey of Re/Max Excel. The seller, Bay Street Holdings LLC, a unit of BMO Harris bank, was represented by Bob Lindgren, Stan Elser and Mike Kensill of Lee & Associates.

Veteran broker Hohmann leaves Cassidy Turley to go solo

Hohmann has been involved in numerous high-profile real estate deals over the years, including the transaction that resulted in development of Intech Park and assembling about 60 acres for Clay Terrace in Carmel.

Celadon Group names new chief financial officer

Celadon Group Inc. announced Monday that it has named Eric Meek as executive vice president, chief financial officer and treasurer, effective immediately, as part of a succession-planning process.

BioCrossroads launches second seed fund

BioCrossroads Inc. has raised an $8.25 million seed fund in its second attempt to help startup life sciences companies grow to the point where they can attract venture capital or a corporate funder.

Health insurers could pay $16.5M in rebates

Health insurance customers in Indiana will get an estimated $16.5 million in rebates this year, but the average amount received per person will be less than the national average and less than 3 percent of the total cost of coverage.

Colt giving away Pacers tickets

Indianapolis Colts Punter Pat McAfee said he plans to give away 375 pairs of tickets to Monday night’s NBA playoff game between the Indiana Pacers and the Orlando Magic. McAfee, via Twitter, said the tickets will be given away starting at 4:30 p.m. during “Pat’s Pacer Playoff Party” in the Home Court Gift Shop at Bankers Life Fieldhouse. The game begins at 7:30 p.m. The Pacers trail in the best-of-seven series 1-0.
 

Woman’s body found in pool

The body of a missing woman was discovered early Monday morning in a swimming pool at a vacant Madison County home in Edgewood, just west of Anderson. Police found the body of 83-year-old Wilma Ewing about 1 a.m., about a half-hour after family members reported her missing. Ewing’s vehicle was seen at the vacant home in the 500 block of Central Way, prompting a search of the property. Police said they do not suspect foul play.