Report paints brighter picture for retail
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
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The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
-Capitol Construction Services Inc. has completed a 7,139-square-foot building for Dr. Jody Friedman, DDS, at 4011 Westfield Road, Westfield, and built out a 4,139-square-foot space for Friedman Family Dentistry within the building.
-Capitol Construction Services Inc. has completed a 25,201-square-foot build-out for Southern Wine and Spirits at 8500 Keystone Crossing.
On a seasonally adjusted basis, the pace of mortgage loan activity decreased four-tenths of a percent for the week ended June 3, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.54 percent from 4.58 percent the previous week. The rate for 15-year mortgages dropped to 3.67 percent from 3.78 percent.
-Creative Converting leased 18,041 square feet of office space at 6602 E 75th St. The tenant was represented by Matt Waggoner of Summit Realty Group. The landlord, Capozzoli Advisory for Pensions Inc., was represented by Andrew Martin of Cassidy Turley.
-Electronic Evolutions Inc. leased 13,000 square feet of office space at 535 W. Carmel Drive, Carmel. The tenant was represented by Stephen Adams of Hokanson Inc. The landlord, Greg Dawson & Associates, was represented by Matt Waggoner and Tom Hadley of Summit Realty Group.
-Pepperidge Farm leased 9,000 square feet of industrial space at 3250 N. Post Road. The tenant was represented by Don Ballard and Steve Beals of Lee & Associates. The landlord, Forester Properties, was represented by Kyle Powell of Cassidy Turley.
-USA Fireworks leased 5,880 square feet of retail space at Sherman Commons, 3709 E. Washington St. The tenant and landlord, Indy Management Group, were represented by Herb Feldmann and Cindy Hoskinson of Lee & Associates.
-The Stacked Pickle leased 5,100 square feet at Fishers Station, 11621 N. Fishers Station Drive, Fishers. The tenant was represented by Brian Epstein of Urban Space. The landlord, Fishers Station Development Co., was represented by Blake Beaver of Kite Realty Group.
-CBDM Inc., doing business as The Local Eatery & Pub, leased 4,845 square feet at Bridgewater Marketplace, 146th and Gray Road, Westfield. The tenant was represented by Nicholas Wright of Newbridge Commercial Real Estate Inc. The landlord, KRG Bridgewater LLC, represented itself.
-USA Fireworks leased 4,200 square feet of retail space at Prairie Lakes, 14350 Mundy Drive, Noblesville. The tenant and landlord, Prairie Lakes Development LLC, were represented by Herb Feldmann and Cindy Hoskinson of Lee & Associates.
-J. Rasso’s Italian restaurant leased 3,741 square feet at Hamilton Crossing Centre, 12201 N. Meridian St., Carmel. The tenant was represented by Steve Tatum of Steve Tatum Commercial Real Estate. The landlord, KRG Hamilton Crossing LLC, was represented by Blake Beaver of Kite Realty Group.
-Viva Dental leased 3,010 square feet at Washington Market, 10409 E. Washington St. The tenant was represented by Kelli Membreno of Libertad Real Estate. The landlord, Sandor Development, was represented by John Holloway of Sandor.
-Foot Euphoria leased 2,912 square feet of retail space at Fortune Plaza, 9655 U.S. Hwy 36, Avon. The tenant was represented by Rick Jones of Lee & Associates. The landlord, Fortune Enterprise B LLC, was represented by Greg Smith of Colliers International.
-Body One Physical Therapy leased 2,483 square feet of retail space at Cherry Street Plaza, 310 E. Main St., Westfield. The tenant was represented by Tim O’Brien and Yumi Prater of Colliers International. The landlord, Cherry Street Plaza LLC, was represented by Ron Mannon of Lee & Associates.
-Maurel Bridal Boutique leased 2,280 square feet at West Washington & Belmont Market, 2111 W. Washington St. The tenant was represented by Kelli Membreno of Libertad Real Estate. The landlord, Sandor Development, was represented by John Holloway of Sandor.
-Revol Wireless leased 1,600 square feet at Honey Creek Plaza, 5408 W. 38th St. The landlord, Sandor Development, was represented by John Holloway of Sandor. The tenant represented itself.
-1-Call Contractor Services leased 1,500 square feet of industrial space at 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.
-Crooked Creek Community Development Corp. leased 1,200 square feet at Smarts Plaza, 7003 N Michigan Road. The landlord, Sandor Development, was represented by John Holloway of Sandor. The tenant represented itself.
-Asia Bistro leased 1,200 square feet at Fishers Station, 7400 E. Fishers Station Drive, Fishers. The tenant was represented by Karen Yan of Best Realty. The landlord, Fishers Station Development Co., was represented by Blake Beaver of Kite Realty Group.
-Zink Properties LLC bought a 9,994-square-foot truck terminal and a 4,260-square-foot repair facility at 3340 Shelby St. The price wasn’t disclosed. The buyer was represented by Ron Foster of Echelon Realty Advisors. The seller, Djuric Terminals LLC, was represented by J.D. Graves of CB Richard Ellis.
-Tube Processing Corp. bought a 16,700-square-foot industrial building at 3802 Shelby St. The price wasn’t disclosed. The buyer was represented by Luke Wessel of Cassidy Turley. The seller, Bordon D. Crews Revocable Trust, was represented by Stan Elser of Lee & Associates.
Planned Parenthood of Indiana is fighting the Indiana's Housing and Community Development Authority over the loss of a fundraising tax credit because of a new law that strips the not-for-profit of state funding.
Indiana State Police are investigating a Sunday morning shooting on Interstate 65 just north of downtown. About 1:40 a.m., troopers responded to a report of a single-car crash on southbound I-65 near 21st Street. A witness told police he heard gunshots just before the crash and saw someone jump out of the car and run away. The driver, 29-year-old Christopher Summers, turned up a short time later at a restaurant in the 2500 block of Martin Luther King Drive with a gunshot wound to his left hip. He was treated at Wishard Hospital and released. Summers told investigators a black Monte Carlo with dark tinted windows pulled beside his car and someone fired shots from the open passenger window. He then lost control of his vehicle and crashed into the barrier wall.
U.S. Attorney Joe Hogsett plans to meet with Marion County law enforcement leaders this week to develop a plan to combat gun violence. Over the last week, four people have been shot and killed in Indianapolis, including a 61-year-old man shot by a stranger while coming home from work. Among Hogsett’s ideas: pursuing federal charges in gun crimes, which he says keep offenders behind bars longer.
Volunteers are continuing their search for missing Indiana University student Lauren Spierer, who was last seen walking home from a friend’s Bloomington apartment early June 3. Search groups are working two shifts, beginning at 11 a.m. and 5:30 p.m. Police, meanwhile, said an “America’s Most Wanted” television show segment about 20-year-old Spierer’s disappearance generated at least 30 to 40 tips, but so far none of them have led to major breakthroughs in the case.
Vi Shukla is a scientific leader at Indianapolis-based Dow AgroSciences LLC, focused on its Exzact Precision Technology tools for genetic engineering of plants and crops. Dow Agro used the technology in its own crop seed products, and has also been licensing for use in tomatos and trees.
NFL owners and players at not-so-secret meetings set July 15 as deadline to get a deal done that will end the labor lockout. If that date passes with no deal, big trouble looms.
Analysts raised their eyebrows at the $800 million reportedly paid by WellPoint Inc. to acquire a West Coast Medicare plan, but with the commercial health insurance business stagnating, Medicare is vital to WellPoint’s future growth.
The structure planned for the southwest corner of Broad Ripple and College avenues also would include first-floor retail space and a police substation. Construction is set to begin this summer and be complete by mid-2012.
The city is kicking in $6.35 million for a $15 million Broad Ripple parking garage with first floor retail space and a police substation.
It was a predictable year for the awards, but Neil Patrick Harris and company offered a quirky, fun show. Some thoughts.
A London-based hedge fund sued Brightpoint over a $10 million loan it alleged the Indianapolis-based mobile phone distributor fraudulently brokered in anticipation of an acquisition that never materialized.
Republic Airways Holdings Inc. agreed to seek new investors for Frontier Airlines, shrinking its stake to become a minority owner, in exchange for concessions from pilots at the unprofitable carrier.
Did you take young ones to Let’s Meet PBS Kids in the Park? Hang with a more mature crowd at “Avenue Q”?
Hoosier schools chief Tony Bennett is embracing the role of pitchman as the Department of Education makes the changes he campaigned so hard for over the last few years real.
Pence launched his campaign for governor Saturday with a promise to fight health care reform and federal climate change legislation.