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Cold prompts shutdown of local government Tuesday

January 27, 2014

Indianapolis Mayor Greg Ballard said City-County government will be closed Tuesday due to the forecast of “dangerously cold temperatures.” He also imposed a two-hour delay for local government on Wednesday.

Construction

January 27, 2014

-Capitol Construction has completed a 3,700-square-foot office expansion and renovation for Humana at 8888 Keystone Crossing.

-Capitol Construction has completed a 7,500-square-foot office expansion for beyond.com at 3077 E. 98th St.

-Capitol Construction has completed a 1,400-square-foot office build-out for Norfolk Southern at 9229 Delegates Row.

Residential

January 27, 2014

Mortgage rates were steady for the week ended Jan. 23. The average rate for 30-year mortgages fell from 4.57 percent to 4.56 percent, according to Bankrate.com. The rate for 15-year mortgages fell from 3.62 percent to 3.61 percent.

Leases/leasing contracts

January 27, 2014

-Southern Wine & Spirits of America renewed its lease for 211,500 square feet of industrial space at 800 Commerce Parkway Drive, Greenwood. The tenant was represented by Patrick Lindley of Cassidy Turley. The landlord, Liberty Property Trust, was represented by Jake Sturman of Jones Lang LaSalle.

-Golf Galaxy leased 35,056 square feet at Castleton Square Pavilion, 5625 E. 86th St. The tenant was represented by Paul Gold of ECHO Real Estate Services. The landlord, Castleton Anchor Redevelopment II LLC, was represented by Thomas English and Larry Davis of Sitehawk Retail Real Estate.

-Ingredion Inc. leased 13,864 square feet at 5521 W. 74th St. The tenant was represented by Matt Jackson of Jackson IG. The landlord, Duke Limited Partnership, was represented by Kate Willen of Duke Realty Corp.

-Winner Woodworking Inc. leased 6,300 square feet of industrial space at 2205 National Ave.  The tenant and landlord, Donald Kosten, were represented by Mike Medlock of Lee & Associates.
 
-Mattress Firm leased 4,500 square feet at U.S. 40 Shops at Perry Road and U.S. 40, Plainfield. The tenant was represented by Scott Gray of Sitehawk Retail Real Estate. The landlord, ECC Main Street Property LLC, was represented by Larry Davis and Thomas English of Sitehawk Retail Real Estate.

-MS Consultants Inc. leased 3,627 square feet at 8900 Keystone Crossing. The tenant was represented by Nick Svarczkopf of CBRE. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.   
 
-Provident Funding Associates LP leased 3,050 square feet at 8900 Keystone Crossing. The tenant was represented by Kevin Gillihan of Jones Lang LaSalle. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.        

-Symetra Life Insurance leased 2,830 square feet at 9100 Keystone Crossing. The tenant was represented by Chris Carmen of Carmen Commercial Real Estate Group. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.

-Blaze Pizza leased 2,400 square feet at Meijer Outlot Shops II, 12697 N. Pennsylvania St., Carmel.  The tenant was represented by Allison Hawley of Niessink Commercial. The landlord, ECC Carmel Meijer Shops II LLC, was represented by Larry Davis, Tom English and John Baker of Sitehawk Retail Real Estate.

-National Electrical Contractors Associates leased 2,247 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle. The tenant represented itself.    

-Chipotle Mexican Grill leased 2,240 square feet at Meijer Outlot Shops II, 12697 N. Pennsylvania St., Carmel. The tenant was represented by Bryan Chandler of Eclipse Real Estate. The landlord, ECC Carmel Meijer Shops II LLC, was represented by Larry Davis and Tom English of Sitehawk Retail Real Estate.

-Diagnotes Inc. leased 2,025 square feet at 8900 Keystone Crossing. The tenant was represented by Chris Carmen of Carmen Commercial Real Estate Inc. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.

-Combined Insurance Co. of America leased 1,854 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle. The tenant represented itself.   

-TKH Holdings LLC leased 1,750 square feet at Harbourtown Shoppes, located at North Harbour, Noblesville, for a Friends & Company restaurant. The landlord, Harbourtown Center LLC, was represented by J.W. Ernst of Charter Commercial Realty Group. The tenant represented itself.

Sales/acquisitions

January 27, 2014

-DAST 2 LLC bought a 21,400-square-foot office building at 2500 E. 46th St. The buyer was represented by Tom Ferguson of Premier Commercial Real Estate. The seller, 46th Street LLC, was represented by Tom Osborne, Kim Hartman and R.J. Rudolph of Colliers International. 

-Vijayakumar Vemulapallli bought the 183,000-square-foot North Eastwood Shopping Center at 38th Street and Post Road. The seller, LNR Partners, was represented by Brian F. Knapp and Janice Paine of Colliers International. The buyer represented himself.

-Esponda Associates Inc. bought a 6,000-square-foot group home at 8560 N College Ave. The seller, JB & MJM of Indiana Inc., was represented by Ross Reller and Nathan Smith of Colliers International. The buyer represented itself.

Bar Association stands against gay-marriage amendment

January 27, 2014

Backed by nearly three-fourths of its members, the Indianapolis Bar has taken the unusual step of announcing its opposition to the state constitutional amendment under debate at the Statehouse.

Workers not owed for changing time, Supreme Court rules

January 27, 2014

Companies in many cases don’t have to pay workers for the time they spend putting on and taking off safety gear, the U.S. Supreme Court ruled, siding with U.S. Steel Corp. in a lawsuit by 800 workers.

Indy Eleven takes big gamble with stadium finance plan

January 27, 2014

By asking for tax money to help finance an $87 million, 18,500-seat venue, soccer team owner Ersal Ozdemir is gambling with one of his franchise's most valuable assets.

Former Indy Chamber leader joins Hagerman

January 27, 2014

Scott Miller, who stepped down May 31 as president of the Indy Chamber, has been hired as president of The Hagerman Group, one of the state’s largest construction contractors.

St. Vincent hospitals not quite as rich as they seem

January 27, 2014

St. Vincent Health has been sending roughly $50 million to $70 million every year to its parent company, St. Louis-based Ascension Health, to support other hospitals in Ascension’s 93-hospital network.

Hawthorns Golf Club in Fishers files for bankruptcy

January 27, 2014

The move comes after a lender filed a $4.8 million foreclosure lawsuit on the club and asked a Hamilton County court to appoint a receiver.

Utility regulatory openings generate heavy interest

January 27, 2014

Twenty-one candidates are in the running to fill two openings on the Indiana Utility Regulatory Commission.

Fairgrounds Coliseum project ahead of schedule

January 27, 2014

Indiana State Fair officials are expecting to open the renovated Fairgrounds Coliseum in April, three months ahead of schedule.

Developer ready to start northeast-side grocery project

January 27, 2014

The redevelopment of a nearly vacant shopping center at 56th Street and Emerson Avenue will include a Wal-Mart Neighborhood Market and 15,000 square feet of small-shop retail space.

View of health rollout improves, but only slightly

January 27, 2014

Negative perceptions of the health care rollout have eased, a new poll finds. But overall, two-thirds of Americans say things still aren’t going well.

Indiana bill would limit use of drone surveillance

January 27, 2014

The bill introduced by Republican Rep. Eric Koch of Bedford would strictly regulate police use of unmanned aircraft and prohibit their use to conduct surveillance without a court warrant.

You-review-it: Grammy Awards, ‘Caveman,’ and ??

January 27, 2014

For me, the weekend included “Defending the Caveman” at Theatre on the Square and live tweeting the Grammy Awards. What did the last few days hold for you?

Minimum wage bills pushed in at least 30 states

January 26, 2014

A pitch last week from Indiana Democrats was a nonstarter. But a Quinnipiac University poll this month found 71 percent of Americans in favor of raising the minimum wage—including more than half of Republicans polled.

Propane costs soar amid winter supply squeeze

January 26, 2014

Many distributors in the Midwest are limiting the amount of propane they deliver to customers. And the Indiana attorney general’s office is urging Hoosiers to conserve the amount of propane used to heat their homes.

New tiered network trips up IU Health, UnitedHealthcare talks

January 24, 2014

In spite of offers to strike a short-term extension, UnitedHealthcare and Indiana University Health are still hung up in contract negotiations on one key point: Minnesota-based UnitedHealthcare wants to create a multi-tiered network of providers and services that would offer the lowest co-pays and deductibles for favored hospital systems—which IU Health is not.

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