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State adds jobs; unemployment rate remains at 5.9 percent

August 18, 2014

Indiana added 9,900 private-sector jobs in July, with more than half of them coming in the manufacturing sector, the state announced Monday morning.

Construction

August 18, 2014

-Holladay Construction Group LLC. partnered with Holladay Properties to convert a 17,000-square-foot warehouse into an office/warehouse suite for Accelerated Inc. at 5777 Decatur Blvd.

-Capitol Construction has completed a 16,000-square-foot expansion for Allied Solutions at 1320 City Center Drive, Carmel.

-Capitol Construction has completed a 3,400-square-foot office build-out for Body One Physical Therapy at 10412 Allisonville Road, Fishers.  

-Capitol Construction has completed a 2,500-square-foot office expansion for PR Mortgage at 11555 N. Meridian St, Carmel.

People

August 18, 2014

Caroline Thomas has joined Cushman & Wakefield/Summit as brokerage coordinator. Rob King has joined the lease administration department.

Rates

August 18, 2014

The average rate for 30-year mortgages fell from 4.29 percent to 4.27 percent in the week ended Aug. 14, according to Bankrate.com. The rate for 15-year mortgages fell from 3.40 percent to 3.39 percent.

Leases/leasing contracts

August 18, 2014

-La-Z Boy Furniture leased 20,040 square feet at Clearwater Crossing, 3736-3958 E. 82nd St. The landlord, The Broadbent Co., was represented by Joe Kenney of Broadbent. The tenant represented itself.

-TwinMed LLC leased 11,470 square feet of office space at 6625 Network Way. The tenant was represented by Yumi Goodman of Colliers International. The landlord, Network Way Properties LLC, was represented by Kevin Gillihan of JLL.

-Wings Etc. leased 4,748 square feet at Greenfield Station, 1925 Melody Lane, Greenfield. The tenant was represented by Dean Almas of Sitehawk Retail Real Estate. The landlord, LOR Corp., was represented by Jacque Haynes of Cassidy Turley.

-Integrated Health Solutions Inc. leased 2,454 square feet at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, Metro Centre Office Park LLC, was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Quality Applied Systems Inc. leased 2,419 square feet at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, Metro Centre Office Park LLC, was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Hamilton County Pediatric Dentistry LLC leased 2,169 square feet at 13450 N. Meridian St., Carmel. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, LHRET Ascension SV LLC, was represented by Lillebridge Healthcare Services Inc.

-Steven J. Shear DDS leased 2,078 square feet at 9002 N. Meridian St. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, PHT Lakeview LLC, was represented by Travis Tucker of Duke Realty.

-Style Encore leased 3,260 square feet at Greenwood Place, 7759-7921 U.S. 31 South. The landlord, The Broadbent Co., was represented by Joe Kenney of Broadbent. The tenant represented itself.

-Premier Pharmacy leased 1,625 square feet at Fishers Town Center, 8395 E. 116th St., Fishers. The landlord, The Broadbent Co., was represented by Brian Broadbent. The tenant represented itself.

-Ooh LaLa Nail Spa leased 1,600 square feet at Fashion Mall Commons, 8487 Union Chapel Road. The landlord, The Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.

-R&A Fashions leased 1,200 square feet at Lafayette Shoppes, 3840-3882 Lafayette Road. The landlord, The Broadbent Co., was represented by Jim Mosher of Broadbent. The tenant represented itself.

Sales/acquisitions

August 18, 2014

-Think Holdings LLC, dba Rainbow Child Care, bought 1.5 acres at Geist Shoppes, 10400 Olio Road, Fishers. The buyer was represented by Kurt Meyer of Baseline Properties. The Seller, Ameriana Bank, was represented by Dean Almas of Sitehawk Retail Real Estate.

-A joint venture between TWG Development and Vince Shimp bought a 22,000-square-foot building at 915 S. Meridian St. The buyer was represented by Rob Lukemeyer of Baseline Commercial Group. The seller, Rinky Corp., was represented by Derek Menerey and Ashley Bussell of Newmark Knight Frank Halakar.

-Material Handling Solutions bought a 30,000-square-foot warehouse on six acres at 72 S. Post Road. The buyer was represented by Brian Augustin of Alliance Commercial Group. The seller, Hobbs Automotive, was represented by Michael P. Sloan of The Broadbent Group.

Company closing local operations, cutting 110 workers

August 18, 2014

ModusLink Global Solutions Inc. plans to shut down its 96,000-square-foot distribution facility in Indianapolis, eliminating 110 jobs by the end of October, the company said late last week.

Good Earth exits appeal of Broad Ripple project

August 18, 2014

The $30 million development has been delayed by a request to repeal a zoning change for the property. Though Good Earth is no longer involved, a local resident is continuing his fight against the project from Browning Investments Inc.

Muncie packaging company to lay off 261 workers

August 18, 2014

DIY Group packages products and displays for national manufacturers and retailers. The notice sent to the state cited the loss of a contract with Jarden Home Brands for the layoffs.

Carpenter, Fisher to merge IndyCar teams in 2015

August 18, 2014

Ed Carpenter Racing and Sarah Fisher Hartman Racing said Saturday they will unite to form CFH Racing. The Indianapolis-based teams will be headquartered at Fisher Hartman offices a few blocks from Indianapolis Motor Speedway.

UPDATE: Indiana State Fair attendance tops 950,000

August 18, 2014

This year’s 17-day run goes down in the books as one of the three most attended.

Sun King plans $8.8M brewery, tasting room in Fishers

August 18, 2014

Homegrown craft-beer maker Sun King Brewing Co. plans to build a second production facility and tasting room in Fishers, adding capacity as it widens its reach. The Town Council will consider a $2.5M economic development deal Monday night.

Illinois ends contract with private manager of lottery

August 15, 2014

The manager, Northstar Lottery Group LLC, is 80-percent owned by Rhode Island-based Gtech Corp., the parent company of Gtech Indiana, which manages the Hoosier Lottery.

IPL moves to drop coal from Harding Street power plant

August 15, 2014

Indianapolis' electricity utility plans to convert its aging Harding Street power plant entirely to natural gas by 2016, after facing growing pressure to do so from environmental groups and politicians.

Lender files to foreclose on downtown’s Villagio condos

August 15, 2014

First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.

Top Ballard deputy Kintner heading for private sector

August 15, 2014

Indianapolis Mayor Greg Ballard announced several staff changes Friday morning, including the planned departure of Deputy Mayor of Economic Development Deron Kintner.

U.S. factory output rises for 6th straight month

August 15, 2014

The Federal Reserve reports that manufacturing production rose 1 percent in July compared to the prior month. Over the past 12 months, manufacturing has risen 4.9 percent.

Navient donates site to relocate historic home

August 15, 2014

With the land donation, the Noblesville Preservation Alliance is now focused on raising the funds needed to move the Flanagan House from its current location to Navient’s campus on USA Parkway this fall.

Indiana universities face budget cuts if tax intake lags

August 15, 2014

Indiana's public universities could see their budgets cut another 2 percent if state tax collections continue trailing expectations, Gov. Mike Pence's budget director said Thursday.

IPFW study recommends shift to Indiana University control

August 15, 2014

Indiana Purdue-Fort Wayne would better serve its region with a shift in governance to Indiana University and a change in the state's funding formula for university campuses, a study released Thursday recommended.

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