Construction blitz in full swing around Ball State
With less than two weeks until the start of classes at Ball State University, businesses in Muncie that will cater to students are racing to complete their building projects.
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Group fighting sexual violence closes over unpaid taxes
The Indiana Coalition Against Sexual Assault suspended its operations after failing to pay payroll and other taxes, raising alarm that victims will fall through the cracks.
Van Rooy converting more units to market rate
The local apartment owner and manager will spend $2.5 million to upgrade Ransom Place near the IUPUI campus from Section 8 housing. It’s the second time the company has undertaken such a project in the neighborhood the past few years.
UPDATE: Indy Star owner to break into two companies
McLean, Virginia-based Gannett is the latest in a string of media companies to break off print from faster-growing media businesses, including broadcast TV.
Elwood Staffing to add 40 jobs at Columbus HQ
The company, which already employs 200 in Indiana and 1,000 across the country, will accommodate the expansion by buying and renovating a building across the street from its current headquarters.
Interactive Intelligence takes quarterly loss
Interactive was right on target with the preliminary earnings announcement it made July 16, when it predicted revenue between $86 million and $88 million and an operating loss between $11 million and $12 million.
ISTEPs bring ‘mixed bag’ for Indiana charter schools
Performance among Indiana's charter schools on the 2014 ISTEP tests ran the gamut from low passing rates to rates similar to the state's best public schools.
Construction
Versatile Construction has broken ground on Gateway Shops, an 11,794-square-foot retail center being developed by Sandor Development at 10679 Michigan Road. Completion is scheduled for November.
Rates
The average rate for 30-year mortgages was unchanged at 4.28 percent in the week ended July 31, according to Bankrate.com. The rate for 15-year mortgages dropped from 3.41 percent to 3.40 percent.
Leases/leasing contracts
-Byrd Enterprises Inc. leased 37,378 square feet at Carmel Market Place, 502 E. Carmel Drive, Carmel. The tenant was represented by Bruce Richardson of Dieterl/Richardson. The landlord, Buckingham Fountains LLC, was represented by Gary Perel of Newmark Knight Frank Halakar and Tiffany Oliver of Buckingham Cos.
-HHGregg leased 25,078 square feet of retail space in Washington Place Shopping Center, 10255 E. Washington St. The tenant was represented by Jack Esselman of J.F. Esselman Commercial. The landlord, PEBB Indianapolis LLC, was represented by Jamison Downs, Seth Biggerstaff and Paul Rogozinski of Veritas Realty.
-AIMCO leased 14,342 square feet at 4670 Haven Point Blvd. The tenant was represented by Brian Askins of Cushman & Wakefield/Summit. The landlord, Performance Services Inc., was represented by Ron Foster of Reliant Partners.
-Harvest Church leased 8,640 square feet at 6107 Airport Blvd. The tenant was represented by Brian Askins of Cushman & Wakefield/Summit. The landlord, The Peterson Co. LLC, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit.
-Corizon LLC leased 6,724 square feet of office space at 9245 N. Meridian St. The tenant was represented by Brook Sipe of Alliance Real Estate. The landlord, Echo Associates LLC, was represented by Ashley Bussell and Ralph Balber of Newmark Knight Frank Halakar.
-Madame Royale Nail Salon & Spa leased 2,800 square feet of retail space in Pine Creek Shoppes, 8790 E. 96th St., Fishers. The landlord, Pine Creek on 96th Street LLC, was represented by Seth Biggerstaff and Kyle Hughes of Veritas Realty. The tenant represented itself.
-Gutwein Law leased 2,504 square feet of office space at Station Place, 200 S. Meridian St. The tenant was represented by Ashley Bussell and Ralph Balber of Newmark Knight Frank Halakar. The landlord, Station Place, was represented by Zane Brown of CBRE.
-Louie’s Wine Dive Indianapolis LLC leased 2,500 square feet of retail space in the Massala Building, 345 Massachusettes Ave. The tenant was represented by Allison Hawley of Niessink Commercial Real estate Inc. The landlord, Massala Properties Inc., was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar.
-Jimmy Johns leased 1,760 square feet of retail space in Shelbyville Crossing, 2400 Marketplace Blvd, Suite C, Shelbyville. The tenant was represented by Drew Warner of Eclipse Realty. The landlord, Shelbyville Retail LLC, was represented by Jamison Downs and Kyle Hughes of Veritas Realty.
-A Nail Salon leased 1,608 square feet at Lebanon Crossing, 1370 S. Lebanon St., Lebanon. The landlord, Lebanon 39 LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-Infinity Chiropractor leased 1,600 square feet of retail space in Pine Creek Shoppes, 8966 E. 96th St., Fishers. The tenant was represented by Seth Biggerstaff of Veritas Realty. The landlord, Pine Creek Shoppes on 96th Street LLC, was represented by Paul Rogozinski of Veritas Realty.
-Raw Juice leased 1,200 square feet at Clearwater Springs Shopping Center, 5025 E 82nd St. The landlord, PK Clearwater Springs LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
Sales/acquisitions
-Lowe’s Cos. Inc. bought Intech 12, a 140,368-square-foot office building at 6620 Network Way. The buyer was represented by Tom Hadley of Cushman & Wakefield/Summit. The seller, Encore Enterprises Inc., was represented by Mike Semler of Cassidy Turley.
-Taco Bell of America bought 0.6 acres at 3042 Stones Crossing Road West, Greenwood. The buyer was represented by John Byrne of Radar Commercial Real Estate. The seller, Stones Crossing Development LLC, represented itself.
ITT Educational CEO signals resignation amid stock freefall, federal scrutiny
Carmel-based ITT Educational Services Inc. announced late Monday afternoon that CEO Kevin Modany planned to resign within six months. The struggling for-profit education firm has drawn scrutiny from government officials for its marketing and lending practices.
Pacers’ NBA title odds plunge after George’s broken leg
The Pacers were among the favorites to challenge for the Eastern Conference title this season. That was before Paul George tried to block a layup during a Team USA scrimmage three days ago and broke his right leg in multiple places.
Small employers dumping plans faster than expected, WellPoint says
WellPoint saw 218,000 members of its health plans disappear because their employers ended their group plans. Other insurers, however, say small employers are ending their plans more slowly than expected.
City’s Covanta deal discourages rival recycling programs
Details of a pending recycling deal with Covanta are emerging. Under the pact, the city of Indianapolis would face financial penalties if it launches other recycling programs.
Indiana health startups have raised $100M this year
Investors seem to have rediscovered the Midwest this year, pouring a record $777 million into 139 companies, according to BioEnterprise. In the first half of 2013, Midwest companies raised $351 million.
ITT Educational shares reeling after deal falls through
The real estate deal would have brought as much as $119.1 million for the struggling, Carmel-based education firm.
State eyes downtown site for $17M archives project
Officials want developers to submit plans for a site on the American Legion Mall, including an existing historic building and a 36,000-square-foot addition.
REI Investments agrees to buy site of former GM stamping plant
The local developer plans to purchase the entire 102-acre property, which has been earmarked for a 15,000-seat outdoor concert venue and the city’s new criminal justice complex.