Water, sewer utility sale passes another hurdle
Sale of city's water and sewer utilities faces showdown on Monday with full council vote.
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Indiana’s unemployment rate rises slightly
June figure hits 10.1 percent, up a tick from April and May, marking the third straight month Indiana’s unemployment rate
has been in double digits.
Bren Simon deposition sheds light on family feud
A judge is scheduled to hear final arguments Thursday over whether Bren
Simon should remain as trustee for her late husband's roughly $2 billion estate. A video deposition has provided a glimpse
into ugly family conflicts.
Two companies expanding in northeast Indiana
Together, Fuel Systems of Angola and Steffy Wood Products plan to create more than 170 jobs within the next three years by
investing more than $4.8 million to expand operations in Angola.
Judge hears arguments challenging Emmis sale
Common shareholders are challenging the proposed acquisition of the company by closely held JS Acquisition LLC, formed by
Emmis Chairman and CEO Jeffrey H. Smulyan in an effort to take it private.
Angola manufacturers plan nearly 180 new jobs
Fuel Systems of Angola and Steffy Wood Products say they will invest a total of $4.8 million on their production facilities
in northeast Indiana, creating 178 jobs by 2013.
Steel Dynamics profit up, but misses analysts’ estimates
Net income was $49.2 million, compared with a net loss of $16 million a year earlier, the Fort Wayne-based steelmaker said
Monday in a statement.
Conservancy group looks to buy Girl Scouts camp
Red-tail Conservancy director Barry Banks says the group hopes to raise the full $150,000 as soon as possible to buy the 47-acre
Camp Munsee.
Not-for-profit gambling pinched by recession
The lingering recession is cutting into the money Indiana’s not-for-profit groups generate from bingo, pull-tabs and other
gambling ventures, straining their budgets.
Housing
On a seasonally adjusted basis, the pace of mortgage loan activity fell 2.9 percent for the week ended July 9, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 4.69 percent from 4.68 percent the previous week. The rate for 15-year mortgages increased to 4.12 percent from 4.11 percent.
Construction
TMG Construction Management Inc. has been hired to build out a 1,200-square-foot space for Excercise Inc. at 1430 N. Green
St., Brownsburg.
People
–Kristina Ehret has joined RE/MAX Legends Group in Indianapolis as an agent.
–Matthew Gunning and Mike Wheeler have joined RE/MAX Excel in Avon as agents.
Leases/leasing contracts
-Turf Solutions leased 11,700 square feet at 10080 E. 121st St., Suite 130, Fishers. The tenant was represented by Keith Dedrick of Corporate Commercial Group. The building owner, Fishers Ridge LLC, was represented by Darrin Boyd of Cassidy Turley.
-Spectrum Health Systems leased 6,042 square feet at 8200 Haverstick Road. The tenant was represented by Adam Broderick of Jones Lang LaSalle. The landlord, Shepard & Poorman Investments LLP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.
-Leland’s Fireplace & Patio leased 5,600 square feet at The Pavilion at Castleton, 5999 E. 86th St. The landlord, Stough Associates LP, was represented by Mark Perlstein of Sitehawk Retail Real Estate. The tenant represented itself.
-Fairway Independent Mortgage renewed a 4,530-square-foot lease at 8200 Haverstick Road. The landlord, Shepard & Poorman Investments LLP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc. The tenant represented itself.
-The Vitamin Shoppes leased 3,600 square feet at Washington Square Commons, 10110 E Washington St. The tenant and landlord, Thompson Thrift Development Inc., were represented by Mark Perlstein of Sitehawk Retail Real Estate.
-Aspen Dental leased 3,400 square feet at Washington Square Commons, 10110 E. Washington St. The tenant and landlord, Thompson Thrift Development Inc., were represented by Mark Perlstein of Sitehawk Retail Real Estate.
-Crandall’s Fish, Chicken & Shrimp leased 3,125 square feet at 8855 Pendleton Pike. Ron Mannon and Scott Herider of Grubb & Ellis Harding Dahm & Co. represented the landlord, North Winthrop Commons Inc. The tenant represented itself in the transaction.
-Chicago Title Insurance Company renewed a 3,096-square-foot lease at Smith Valley Professional Center, 1642 W. Smith Valley Road, Greenwood. The tenant was represented by Orion Realty Group of California in cooperation with Russell VanTil and Jon Owens of Cassidy Turley. The landlord, LSTR LLC, was represented by Cathy Richards of Grubb & Ellis Harding Dahm & Co.
-JDR Solutions renewed a 2,641-square-foot lease at 8250 Haverstick Road. The landlord, Shepard & Poorman Investments LLP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc. The tenant represented itself.
-Maribeth Smith & Associates Inc. leased 1,997 square feet at 32 E. Washington St. The landlord, Indiana Symphony Society Inc., was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The tenant represented itself.
-K.B. Parrish & Co. LLP leased 1,440 square feet of office space at 6515 E. 82nd St. The landlord, BREOF Castleton Park REO, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The tenant represented itself.
Sales/acquisitions
-Polaris Commercial Investments purchased a 25,000-square-foot office building at 5455 W. 86th St. The price wasn’t disclosed. The buyer was represented by Scott H. Lindenberg of Echelon Realty Advisors. The seller, Riversource REO 1 LLC, was represented by Jim Logan of Colliers International.
-Hana BK LLC paid $960,000 for a 2,675-square-foot, freestanding building at 2122 E. 10th St. that houses a Burger King Restaurant. The buyer was represented by Kevin McCrann and Thomas McConnell of the New Jersey office of Marcus & Millichap Real Estate Investment Services. The seller, TI Investments LLC, was represented by Brian T. Southworth and Nathan D. Whalen of Marcus & Millichap’s Indianapolis office.
Deadline approaches for Richelieu offers
John Jacobs and a Cleveland-based partner have put a Friday deadline on offers for the 62-unit Richelieu apartments, a two-building
property at the intersection of North and East streets and Mass Ave.
IT firm plans $24 million data center
The city’s Metropolitan Development Commission will consider providing Lightbound LLC with property tax abatements to offset
investment cost.
Indiana working on phosphorous limits for lakes
The Indiana Department of Environmental Management says the rule would impact sewage treatment plants upstream of lakes.
Change likely after downtown shootings
Representatives with the Indiana Black Expo and the city of Indianapolis say changes are likely for next year’s event
after 10 people were shot in a series of shootings downtown Saturday night. IBE spokeswoman Elizabeth Hart said she hopes
the weekend shootings will not reflect poorly on the organization or event. Indianapolis Public Safety Director Frank Straub
said the big issue that needs to be addressed is the number of unsupervised teen-agers downtown during the event.
Driver shoots self after chase
A driver shot himself to death after leading police on a chase early Sunday through south-central Indiana, authorities say.
The chase started in Bloomington after the unidentified driver failed to stop for police and ended in Owen County after the
car got stuck in a field. Police from Bloomington, Indiana University, Ellettsville, Monroe County and Owen County participated
in the chase.