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Housing
On a seasonally adjusted basis, the pace of mortgage loan activity decreased 1.4 percent for the week ended Sept. 17, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.44 percent from 4.47 percent the previous week. The rate for 15-year mortgages fell to 3.88 percent from 3.96 percent.
Corrections
-St. Francis Medical Group LLC, for Southeast Family Physicians, leased 8,245 square feet in Emerson Office Parke Building 2, 965 Emerson Parkway, Greenwood. The tenant was represented by Travis Tucker of Duke Realty. The landlord, Emerson Office Parke Building Two LLC, was represented by Greg W. Allen and John Cunningham of Allen Commercial Group. The name of the tenant was incorrect in last week’s Real Estate Weekly.
-Jordan-Fishers LLC bought the 40,000-square-foot Village Square retail center at 11033-11361 Allisonville Road, Fishers. The price wasn’t disclosed. The buyer was represented by Keith Dedrick of Corporate Commercial Group. The seller, Huntington Bank, was represented by Bob Barker of Z&B Realty Services. Kevin Broadrick of Marcus & Millichap worked with both buyer and seller. The name of the seller’s broker was incorrect in last week’s Real Estate Weekly.
Developer of senior housing buys big tract near Zionsville
Baptist Homes of Indiana Inc. closed Sept. 17 on 159 acres that encircle the Golf Club of Indiana.
UAW rejects pay cuts; local GM plant could close
Union employees at General Motors' Indianapolis metal-stamping plant have overwhelmingly rejected a proposed pay cut that would have kept the facility open.
BPG sells trio of Keystone Crossing buildings
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
Murder trial set to begin
The trial for an Indianapolis man accused in a 2008 double murder is expected to get under way on Monday. Michael Brown is charged with killing his friends, 73-year-old Eric Hendricks and 70-year-old Milton Lindgren, who were found beaten to death in their home on the city’s southwest side. Brown was arrested a few weeks later in San Diego. Prosecutors believe Brown was stealing money from the victims.
State Police vet dies in head-on wreck
An Indiana State Police veteran died over the weekend in a head-on crash on Interstate 70 in Wayne County. Motor Vehicle Inspector Robert Pitcher was headed westbound Sunday when he lost control of his pickup and hit the guardrail. Pitcher then crossed the median and entered oncoming traffic, where he slammed into a semitrailer head-on. Pitcher was pronounced dead at the scene. The driver of the semi was airlifted to Wishard Hospital with severe burns. Pitcher worked out of the Pendleton post for 22 years.
Burglary suspects hurt while fleeing
Two men were taken to Wishard Hospital early Monday after suffering injuries while fleeing police investigating a break-in at a west-side Public Storage facility. An officer also was injured during the chase. The facility’s manager called 9-1-1 just after midnight after noticing two men on the property breaking into storage units. Police said the burglars had used bolt cutters to get into 10 of the units. Police set up a perimeter, saw the suspects scaling a razor-wire fence, and pursued them. One officer was cut climbing the fence. A police dog tracked down one of the suspects immediately, and the other was found hiding nearby. Both men are expected to recover. Fox59 will have more at 4 p.m.
Colts may look to sell souvenirs through vending machines
Locally based MainGate is testing the new NFL merchandise sales technique in Minnesota. Indianapolis could be next.
Dolce hotel, YMCA part of city-funded ‘North of South’ development
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
State legislators ready to redo alcohol ID law
Legislators and liquor store workers say they've received many complaints from people about a state law that took effect this summer requiring anyone buying carryout alcohol in Indiana to show a photo ID.
NBC pairs Peyton Manning and IndyCars as Hoosier icons
Prime-time promo proves open-wheel racing still synonomous with Indianapolis. Image of Dwight Freeney busting through corn field focuses on state's roots, not its present or future.
Southwest Airlines to buy AirTran for $1.4B
Dallas-based Southwest Airlines would bump Delta Air Lines from top carrier spot at Indianapolis International Airport when it acquires Orlando-based-based AirTran in a deal announced Monday. Southwest/AirTran would have about 33 percent of the Indianapolis market, airport officials said.
Art museum replaces gallery guards with students
The Indianapolis Museum of Art fired 56 gallery attendants Monday morning and will replace them with 100 IUPUI students on a federal work-study program. IMA also will employ 14 reserve police officers to patrol its campus.
$150M ‘North of South’ project moving ahead
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
Raytheon’s local plant lands $42M Navy order
Raytheon Technical Services Co. in Indianapolis has scored a $42 million contract to make forward-looking infrared sensors for the U.S. Air Force’s HH-60G helicopter, the Department of Defense said late last week.
You-review-it Monday
Any weekend when Art vs. Art competes with the International Violin Competition of Indianapolis has to be an interesting one.
Hoosiers can register to vote using cell phones
Indiana has a new high-tech way residents can register to vote for the Nov. 2 elections — using Internet-capable mobile phones.
REITs use stock sales to grow after paying debt
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.