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Architect finds new path as real estate struggles
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned
firm with 120 architects.
General Growth hearing delayed to weigh bids
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
Scaled back renovation project begins at Penn Arts
Renovation work finally has begun on the Penn Arts building at 16th and Pennsylvania streets.
First Internet Bank profitable in first quarter
The Indianapolis-based parent company of First Internet Bank of Indiana said on Monday that it earned $2.2 million in the
first quarter, compared with a loss during the same time frame last year.
Construction
-S&B Construction has been hired to build the 3,000-square-foot Coatesville Community Center in Coatesville.
-S&B Construction has been hired to do a 6,000-square-foot tenant build out for Advance Auto Parts in Avon.
UPDATE: Emmis takeover deal unlikely to hit turbulence
A big Emmis Communications Corp. shareholder believes the $90 million deal CEO Jeff Smulyan unveiled Monday morning to
take the company private is unlikely to get derailed—even though it’s worth far less than a takeover offer Smulyan
failed to get through his board four years ago.
Housing
On a seasonally adjusted basis, the pace of mortgage loan activity increased 13.6 percent for the week ended April 16, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 5.04 percent from 5.17 percent the previous week. The rate for 15-year mortgages decreased to 4.34 percent from 4.45 percent.
Leasing/leasing contracts
-Chemque Inc. renewed its lease for 19,200 square feet at 6101 Guion Road. The tenant was represented by Rick Suja of Summit Realty Group. The landlord, Grand Prix Properties, was represented by Chip Barnes of NAI Olympia Partners.
-Benefit Associates leased 9,355 square feet at 9000 Keystone Crossing. The tenant was represented by Brian Askins of UGL-Equis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-RBC leased 7,956 square feet at 8888 Keystone Crossing. The tenant was represented by John Vandenbark of CB Richard Ellis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Thompson Pump Midwest leased 5,765 square feet at 8775 Zionsville Road. The tenant was represented by Steve Schaub of Summit Realty Group. The landlord, Kentucky Avenue Land Company, was represented by John Demaree of Summit.
-APEX Benefits Group leased 4,713 square feet at 8500 Keystone Crossing. The tenant was represented by Dan Richardson of CB Richard Ellis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Employment Plus leased 3,200 square feet of office space at Two Metroplex, 8383 Craig St. The tenant was represented by Matt Kiger of Halakar Commercial Real Estate. The landlord, Two Metro LLC, was represented by Ted McClure of McClure Real Estate.
-Pulse Creative Partners Inc. leased 2,033 square feet of office space at 427 S. College Ave. The landlord, Deylen Realty Inc., was represented by Sandra Jarvis of IndySQUARED. The tenant represented itself.
Body found floating in river
The Delaware County coroner will perform an autopsy Monday on the body of a woman found floating in the White River in Muncie.
The body of Phyllis Ballantini was discovered by a woman walking along a stretch of the White River Greenway on Saturday.
Investigators think her body had been there for several hours. There were no reported signs of trauma.
Accused murderer arrested, again
Lawrence police have arrested an accused murderer who was accidentally let out of jail in Lake County. Arthur Lewis, 32, should
have been in jail awaiting trial for murder, criminal confinement and armed robbery. Instead, Lewis, his girlfriend Shelba
Yosha and her 5-year-old daughter drove a Ford Taurus from Gary to the Walmart on Pendleton Pike in Lawrence. Lawrence police
took him back into custody Saturday morning after Lake County police tipped them off that Lewis had been “inadvertently
released.”
Suspect captured after firing on officer
Indianapolis police have arrested a suspect they believe fired a gun at an officer early Monday morning. A tip led police
to the Motor Inn at East 38th Street and Shadeland Avenue, where they captured Antonio Williams. Williams, 24, faces preliminary
charges of attempted murder for firing at the officer, possessing a firearm as a convicted violent felon, brandishing a firearm,
and vehicle theft. A 29-year-old woman, Tracy Kemple, also was arrested for harboring a fugitive. Fox59 will have more at
4 p.m.
WellPoint gets lashing from Sebelius, again
Indianapolis-based health insurer trades jabs with U.S. health secretary after Reuters story claims insurer deliberately cancels
coverage for breast cancer patients.
Emmis chief looks to take company private
JS Acquisition Inc., the company Emmis CEO Jeff Smulyan has established to complete the acquisition, would purchase all shares
of publicly traded Emmis for about $90 million, according to Monday morning’s announcement.
U.S. farmers planting corn at record pace
U.S. corn farmers may have planted more acres last week than in any week ever as dry weather
and more-productive equipment sped up fieldwork.
Old National improves first-quarter performance
Evansville-based Old National Bancorp on Monday reported a first-quarter profit of $10.1 million, up
84 percent from the prior-year period and a big improvement from the fourth quarter of 2009, when the company posted a loss
of $9.3 million.
‘Spring Awakening,’ David Sedaris coming to IU.
Tony-winner is (as of now) bypassing Indy but playing Bloomington.
Medicare Advantage may survive cuts under health reform
The two largest U.S. health insurance companies, UnitedHealth, based in Minnetonka, Minn., and WellPoint Inc., based in Indianapolis,
sell Advantage plans.
Anthem Blue Cross postponing rate hike again
In January, Anthem Blue Cross notified many individual policyholders that their rates would rise as much as 39 percent March
1. After a public outcry, the company announced a two-month delay. Now that is on hold, too.