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Purdue, IU rank among top 15 college endowments

February 2, 2010

Purdue University’s $1.45 billion endowment ranks ninth in the nation. IU came in at 11th with an endowment valued at about
$1.23 billion.

Melvin Simon’s daughter seeks to oust Bren as trustee

February 1, 2010

Deborah Simon is seeking
the removal of her stepmother and appointment of a corporate trustee while her lawsuit challenging changes
to the late billionaire’s will plays out. The move is the latest salvo in an escalating battle over
an estate that could be worth $2 billion.

Cincinnati investors buy apartment complex anchored by mansion

February 1, 2010

Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550
Cold Spring Road on Dec. 30.

Daniels trims slaughterhouse inspection cuts

February 1, 2010

The administration of Gov. Mitch Daniels is backing away from a plan to cut in half the budget for state inspections of meat
processors after complaints that it would drive some plants out of business and hurt small farmers.

Leasing/leasing contracts

February 1, 2010

-EJP Inc., a flea market, leased 29,000 square feet at 3900 S. East St. Liz Yoho of Providence Development represented the landlord, Expo Bowl Inc. The tenant represented itself.

-R. Falcone Automotive Inc. leased 19,632 square feet at 1906 W. 16th St. Mark Writt and Greg Witkowski of CB Richard Ellis represented the owner/landlord, 16th Street Properties LLC. The tenant represented itself.

-Hill-Rom Co. Inc. leased 9,000 square feet at 8531 Zionsville Road in Building 2 of the Park 100 Industrial Center. Tom Cooler and Mark Writt of CB Richard Ellis represented the tenant. The owner, ProLogis, was represented by Brett Spitzer of NAI Olympia Partners.

-USA Medical Inc. leased 6,888 square feet at Plaza at Castleton, 8470 Castle Corner Drive. Scot Courtney, Cindy Hoskinson and Bart Jackson of Grubb & Ellis Harding Dahm & Co. represented the landlord, Castleton Shopping Center LLC. The tenant was represented by Bart Jackson of Grubb & Ellis Harding Dahm & Co.

-Katzman & Katzman PC leased 5,853 square feet of office space at 3500 DePauw Blvd. Scott Levinson of Urbahn Cos. represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Friaco’s Mexican Restaurant leased 3,200 square feet at Fishers Corner Shoppes, 11680 Commercial Drive, Suite 1000, Fishers. Nick Wright of Midland Atlantic represented the tenant. The landlord, SENA Realty FC LLC was represented by Williams Realty Group.

-Serenity Counseling Services leased 2,070 square feet at Vista Professional Center, 432 S. Emerson Ave., Greenwood. Cathy Richards of Grubb & Ellis Harding Dahm & Co. represented the tenant and the landlord, Adelphia Properties LLC.

-Downtown Comics Inc. leased 1,040 square feet at Chapel Hill Shoppes, 7301 W. 10th St. Scot Courtney and Bart Jackson of Grubb & Ellis Harding Dahm & Co. represented the landlord, GSR LLC. The tenant represented itself.

-Landrum’s Cleaning LLC leased 2,553 square feet at 8770 Commerce Park Place. The landlord, Dhillon Commerce Park LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker. The tenant represented itself.

-Talagy leased 3,801 square feet of office space at 3500 DePauw Blvd. Darrell Pike of Precedent Real Estate Services represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Verizon Access Transmission Services leased 3,427 square feet of office space at 550 Congressional Blvd., Carmel. Michael Swanson of Jones Lang LaSalle-Southwest represented the tenant. The landlord, 550 Congressional Blvd. LLC, was represented by David A. Moore, Darrin L. Boyd and Mary Beth Kohart of Colliers Turley Martin Tucker.
 
-Paws Ability leased 2,800 square feet at Plainfield Village on U.S. 40. The landlord, The Broadbent Co., was represented by Jeff Roberts. The tenant represented itself.

-Millennium Sounds leased 2,800 square feet at Clearwater Shoppes, 82nd Street and Dean Road. The landlord, The Broadbent Co., was represented by John Beuoy. The tenant represented itself.

-The Game Preserve Inc. leased 1,600 square feet in Fashion Mall Commons, 8487 Union Chapel Road. The tenant was represented by Robyn Smart of CB Richard Ellis. The owner/landlord, Fashion Mall Commons I LP, was represented by John Beuoy of The Broadbent Co.

Sales/acquisitions

February 1, 2010

-GCP Investment LLC has acquired the senior mortgage debt on Georgetown Commerce Park, a two-building industrial property at 7301 N. Georgetown Road. The 84,000-square-foot distribution building and 64,900-square-foot flex building went into foreclosure in mid-2009. GCP Investment, which includes Brian Mann of Mann Properties and Kurt Meyer of commercial real estate firm Baseline Inc., intends to buy the property out of foreclosure and appoint Mann Properties to lease and manage it. Tenants include Methodist Health Care Center, the National MS Society, Vibbert DDS and Symbios Technologies.

-Cedarwood Development bought a 2.25-acre parcel at State Road 37 and Fairview Road, Greenwood. The price wasn’t disclosed. A CVS pharmacy is planned for the site. Scot Courtney of Grubb & Ellis Harding Dahm & Co. represented the seller, The Market Place at State Road 37 LLC. The buyer was represented by Jeff Hubley of Midland Atlantic. 
 

Construction

February 1, 2010

-Holladay Construction Group has completed a 15,000-square-foot tenant build-out for Gearhead Performance at 5225 Decatur
Blvd.

-Alt Construction has completed a 7,800-square-foot industrial/office build-out for Universal Blower Pac
Inc. at 440 Park 32, West Drive, Noblesville.

-Charles C. Brandt Construction Co. is remodeling the 6,500-square-foot
office of Gared Sports at 9200 E. 146th St., Noblesville. Gared is open during the project, which is scheduled to be completed
Feb. 26.

-Alt Construction has completed a 1,600-square-foot build-out for The Game Preserve at Fashion Mall Commons,
8487 Union Chapel Road.
 
 

Police: Gang dispute behind murders

February 1, 2010

Police say a dispute among members of the same gang was the likely motive for a double homicide discovered Sunday morning
on the city’s northeast side. Investigators found the bodies of Raymond Martir, 42, and Johnny Ferguson, 30, at a home in
the 9100 block of Central Avenue. Police arrested Saul Blanco, 21, on Sunday night in connection with the slayings.

Colts debunk ESPN report on Freeney

February 1, 2010

The Indianapolis Colts on Sunday night refuted a report by ESPN that defensive end Dwight Freeney has a torn ligament and
is doubtful for Super Bowl XLIV. Team spokesman Craig Kelley told FOX59 News that the defensive end has a low “basketball”
sprain of his left ankle, and had been rehabbing the ankle over the past weekend in Miami. Kelley said that Freeney is still
listed as questionable for Sunday’s game against the New Orleans Saints. The rest of the team arrives in South Florida tonight.
Fox59 will have more at 4 p.m.

Secretary of State Rokita making congressional run

February 1, 2010

Republican Indiana Secretary of State Todd Rokita is running for the congressional seat being vacated by longtime Congressman
Steve Buyer.

People

February 1, 2010

Brent Little has joined Buckingham Cos. as vice president of higher education. He will focus on developing
multi-family and student housing at colleges and universities nationwide. 

Housing

February 1, 2010

On a seasonally adjusted basis, the pace of mortgage loan activity fell 10.9 percent for the week ended Jan. 22, according
to the Mortgage Bankers Association. Rates for 30-year loans increased to 5.02 percent from 5 percent the previous week. Fifteen-year
mortgages increased to 4.34 percent from 4.33 percent.

Correction

February 1, 2010

Alpha Sigma Tau recently purchased a 10,790-square-foot building at 3334 Founders Road. The name of the sorority was incorrect in the Jan. 26 Real Estate Weekly.

Thoughts on the Tebow ad

February 1, 2010

From the perspective of return on investment, the Super Bowl ad might be considered a failure.

Obama unveils 2011 budget with $3.8 trillion in spending

February 1, 2010

The president’s budget offers tax cuts for businesses, including a $5,000 tax credit for hiring new workers this year, help
for the unemployed and $25 billion more for cash-strapped state governments. Job creation will take precedence over stemming
a surging deficit.

You-review-it Monday

February 1, 2010

Did you catch Groovaloo at Clowes? Hear director Peter Bogdanovich at the IMA?

Enzon Pharmaceuticals sells Indy drug plant; 100 local jobs safe

February 1, 2010

New Jersey-based Enzon Pharmaceuticals Inc. has sold its Indianapolis plant that manufactures specialty drugs in a deal that
could top $300 million. The buyer says that the operations, which employ about 100, will remain in the city.

Toyota: Parts on way to fix faulty gas pedals

February 1, 2010

Toyota Motor Corp. is telling dealers that they should get parts to fix sticky gas pedals later this week. But the 4.2 million
customers affected by a large recall may have to wait a while for repairs.

Legislator to continue pursuing smoking-ban bill

February 1, 2010

Democratic Rep. Charlie Brown of Gary says he will keep pursuing a bill that would ban smoking in most public places.

Lawmakers approaching session’s half-way point

February 1, 2010

Members of the Indiana General Assembly face a key mid-session deadline this week. Wednesday is the deadline for bills to
pass their house of origin and be sent to the opposite chamber.

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