With Obamacare, insurers will still find ways to avoid risk
Obamacare put an end to health insurers’ worst methods for avoiding risk. But that doesn’t mean insurers have ended their risk-shifting ways. Not at all.
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Summit partners seek tax break for $14M distribution facility
They plan to spend $14 million to build the 542,000-square-foot warehouse on 33 acres on the city’s west side. One condition of the tax abatement is finding a user that would create at least 50 jobs by 2018.
How the Brizzi public-corruption case unraveled
Federal authorities suffered a near-complete defeat in their efforts to prosecute the players in an unusual real estate deal in Elkhart, a setback that ultimately scuttled an ambitious public-corruption case targeting former Marion County prosecutor Carl Brizzi.
Startup bakery seeking tax breaks on $78M project
Dallas-based Specialty Bakery LLC plans to build a 226,778-square-foot production and distribution facility in southwest Indianapolis that would create 241 jobs by 2018.
Gay marriage debate draws in higher education
DePauw University and Wabash College have joined Freedom Indiana, a newly formed organization opposed to Indiana’s proposed same-sex marriage amendment.
Judge sentences attorney Page to probation, fine
Attorney and real estate developer Paul J. Page will serve two years of probation and pay a $10,000 fine for concealing the source of a $362,000 down payment on his purchase of a state-leased office building in Elkhart.
Rolls-Royce opens $42M production facility
The facility, which will make engine compressor parts known as banded stators, is expected to employ about 100 high-tech personnel by next year.
Printing facility to close, terminate 150 employees
Big changes in the media industry have dramatically lowered the amount of work available for Multi Packaging Solutions Inc.’s printing plant in Terre Haute.
You-review-it Monday: What did I miss?
I was away for the weekend. Fill me in one what you saw while I was away. Matisse? Patti LuPone A Spirit & Place event?
Indigo ‘hopeful’ for Frontier sale despite snag
Phoenix-based Indigo Partners has until Monday to tell Frontier parent Indianapolis-based Republic Airways Holdings whether it wants to terminate the $145 million deal.
Foes say proposed reservoir would have adverse impact
A Muncie group that opposes a proposal to build a new reservoir in central Indiana says the project raises health concerns, including waste from former auto industry plants that might contaminate the reservoir.
Pace slows, but Carmel redevelopment panel still busy
The Carmel Redevelopment Commission has a lot to do—with or without staff support. Mayor Jim Brainard and the city’s director of administration will handle the volunteer panel’s day-to-day affairs for the immediate future.
Discount retailers, grocers await impact of food-stamp cut
With an estimated 8 percent of shoppers using food stamps, the impact will probably be felt most acutely by discount retailers such as Dollar General Corp., Family Dollar Stores Inc. and Wal-Mart Stores, analysts say.
Review recommends stronger oversight of state contractor
An independent review of Elevate Ventures found the state contractor needs more oversight even though it is "substantially compliant with its investment and operational requirements,” Indiana Gov. Mike Pence's office said Friday.
Leases/leasing contracts
-Gannett Co. Inc. leased 22,000 square feet of office/industrial space at 7531 Miles Drive. The tenant was represented by Nick Arterburn of CBRE. The landlord, WF Industrial Properties, was represented by Patrick Lindley and Grant Lindley of Cassidy Turley.
-Goodwill Industries leased 10,984 square feet of retail space at 4200 S. East St. The tenant was represented by Bill French of Cassidy Turley. The landlord, Tri Land Properties Inc., represented itself.
-Lockerbie Square Cabinet Co. leased 7,194 square feet of industrial space at 4350 W. 10th St. The tenant was represented by Brett Burch of Valenti Real Estate Services. The landlord, Speedway Industrial Park, was represented by Bill Byram of Cassidy Turley.
-Raybourn Group International leased 6,551 square feet of space at Parkstone Office Center, 9100 N. Purdue Road. The landlord, Parkstone Indianapolis LP, was represented by Derek Menerey and Ashley Bussell of Newmark Knight Frank Halakar. The tenant represented itself.
-Peachin Schwartz & Weingardt PC leased 6,016 square feet at Crosspoint Six, 9775 Crosspoint Blvd. The tenant was represented by Brian Askins of Summit Realty Group. The landlord, Young Realty Crosspoint Six, was represented by Lori Pfeiffer and Larry Davis of Sitehawk Property Management.
-Dealers Transmission Exchange leased 5,000 square feet at 5700 W. Minnesota St. The tenant was represented by Cam Kucic of Summit Realty Group. The landlord, CCH Investments LLC, was represented by Brad Williams and Tyler Wilson of Summit Realty Group.
-Bloomfield Bank leased 3,250 square feet at Fidelity Keystone Office Tower, 650 E Carmel Drive, Carmel. The tenant was represented by Darrell Pike of Pike Real Estate Services LLC. The landlord, Network Capital Corp., was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar.
-VYM General Contractors LLC leased 1,800 square feet of industrial space at 5303-5331 W. 86th St. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.
-Square 9 leased 1,608 square feet at Fidelity Keystone Office Tower, 650 E. Carmel Drive, Carmel. The landlord, Network Capital Corp., was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar. The tenant represented itself.
-Horwitz & Associates leased 1,499 square feet at Parkstone Office Center, 9100 N. Purdue Road. The landlord, Parkstone Indianapolis LP, was represented by Ashley Bussell and Derek Menerey of Newmark Knight Frank Halakar. The tenant represented itself.
-Integrity Travel Solution leased 1,355 square feet at Parkstone Office Center, 9101 N. Wesleyan Road. The landlord, Parkstone Indianapolis LP, was represented by Derek Menerey and Ashley Bussell of Newmark Knight Frank Halakar. The tenant represented itself.
-Astra Digital leased 973 square feet at Parkstone Office Center, 9101 N. Wesleyan Road. The landlord, Parkstone Indianapolis LP, was represented by Derek Menerey and Ashley Bussell of Newmark Knight Frank Halakar. The tenant represented itself.
Residential
The average rate for 30-year mortgages remained at 4.27 percent for the week ended Oct. 30, according to Bankrate.com. The rate for 15-year mortgages ticked up to 3.38 percent from 3.37 percent the previous week.
Sales/acquisitions
-One Liberty Properties Inc. bought a 125,622-square-foot industrial building leased by Federal Express at 3825 Hanna Circle. The seller, Guthrie Partners LP, was represented by Janice Paine and Brian F. Knapp of Colliers International. The buyer represented itself.
-An affiliate of Klosterman Baking Co. bought a 10,800-square-foot industrial building at 5867 Churchman Ave. The buyer was represented by Stan Elser and Jim Karozos of Lee & Associates. The seller, Pifer LLC, was represented by David Lane of Burr & Temkin.
-WF Industrial Properties bought 2.97 acres at 7531 Miles Drive. The buyer was represented by Patrick Lindley and Grant Lindley of Cassidy Turley. The seller, JP Morgan Chase Bank, was represented by Nick Arterburn of CBRE.
Construction
-Capitol Construction has completed a 9,000-square-foot office expansion for Kronos at 101 W. Washington St.
-Charles C Brandt Construction has completed a $50,000 renovation for RR Donnelly at 700 Airtech Parkway, Plainfield.
-Charles C Brandt Construction has been awarded a $100,000 tenant finish project for Fusion at 550 Congressional Blvd., Carmel.
-Charles C Brandt Construction has been awarded a $15,000 tenant finish project for Applied Marketing at 550 Congressional Blvd, Carmel.
Marathon expects record participation
A record number of runners are expected to race in the Indianapolis Monumental Marathon on Saturday morning. The sixth annual event includes a regular marathon, a half-marathon, a 5K run and a Fun Run for children. More than 13,000 runners are registered. The marathon starts at 8 a.m. at Monument Circle and follows a route as far north as 66th Street.
Two injured by flurry of bullets
A gunman or gunmen riddled a northwest-side home with at least 26 bullets at about 2:30 a.m. Friday, injuring two men in the house. Investigators say the shooting in the 1800 block of Dexter Street, just north of West 16th Street, was likely drug-related. One victim, 26, suffered wounds in the head and leg. The other, 22, was shot in the leg. Both were hospitalized in undisclosed conditions. The shots were fired from a red compact car.