Local manufacturer to be acquired for $41 million
United Kingdom-based Meggitt PLC plans to acquire Piezotech LLC, a manufacturer founded in Indianapolis in 1967, for $41.2 million, the companies announced Wednesday.
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Panel to make recommendations for grading system
State leaders have created another new education panel – this one to help develop an A-F grading system to replace one that has come under fire following accusations it was adjusted to help a specific school.
Sales/acquisitions
-Beazer Design Studio bought 35.69 acres at State Road 32 and Little Chicago Road, Noblesville. The buyer was represented by Scott Clayton of Encore Sotheby's International Realty. The seller, Equicor Development Inc., was represented by Bill Flanary of Cassidy Turley.
-Oversize Farm LLC bought 169.80 acres at the southwest corner of Mount Comfort Road and County Road 200 North, Greenfield. The buyer was represented by Bill Byram of Cassidy Turley. The seller, Farmers Capital Bank Corp., was represented by Bill Flanary of Cassidy Turley.
-Trivis Capital Partners LLC bought an 18,806-square-foot retail property at 3001 Meridian Meadows, Greenwood. The seller, Bayview Loan Servicing, LLC, was represented by Jacque Haynes of Cassidy Turley. The buyer represented itself.
Leases/leasing contracts
-Eversman Enterprise I LLC leased a 25,000-square-foot, free-standing entertainment facility at 175 Southern Plaza Drive. The tenant was represented by Brett Burch of Valenti Real Estate Services Inc. The landlord, Byrum-Marr Partnership, represented itself.
-High Point Global LLC. leased 6,213 square feet of office space at 300 N. Meridian St. The tenant was represented by Jim Teskey of CRESA Partners. The landlord, University Park Associates, was represented by Mike Napariu of REI Real Estate Services.
-Image Dental PC leased 3,656 square feet at 11711 N. Pennsylvania St., Carmel. The tenant was represented by Matt Jackson of Jackson IG. The landlord, North Pennsylvania Associates LP, was represented by Mike Napariu of REI Real Estate Services.
-Fidelis Asset Management leased 3,351 square feet of office space at 8200 Haverstick Road. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, Citimark Management Co. Inc., was represented by Brian Fitzgerald of Citimark.
-Stutler Family Dental leased an additional 3,341 square feet at 1460 N. Green St., Brownsburg. The tenant was represented by Matt Jackson of Jackson IG. The landlord, Brownsburg Commons LLC, was represented by Rich Block of Paragon Realty LLC.
-Presidio Corp. leased 3,132 square feet of office space at 11595 N. Meridian St., Carmel. The tenant was represented by Mary Catherine Williams of DTZ. The landlord, True North Management Group, was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Northeast Pediatric Dentistry LLC leased 2,990 square feet at 11501 Cumberland Road, Fishers. The tenant was represented by Matt Jackson of Jackson IG. The landlord, Cumberland Road III Office Center LLC, represented itself.
-Foot Reflexology leased 2,500 square feet in West Carmel Shoppes, 4335 W. 106th St., Carmel. The tenant was represented by Jun Liu of Carpenter Realty. The landlord, Lawndale Partners LLC, was represented by Paul Rogozinski of Veritas Realty.
-Zhi Hiang leased 1,600 square feet in Geist Crossing II, 9745 Fall Creek Road. The tenant was represented by Ben Li of Mid America Realty Co. The landlord, Glendale Partners of Geist Crossing II LLC, was represented by Paul Rogozinski and Kyle Hughes of Veritas Realty.
-Plainfield Dental LLC leased 1,600 square feet at 824 Edwards Drive, Plainfield. The tenant was represented by Matt Jackson of Jackson IG. The landlord, National Bank of Indianapolis, was represented by Stephen Daum of Summit Realty Group.
-Zounds Hearing leased 1,200 square feet in Fishers Crossing Shopping Center, 11852 Allisonville Road, Fishers. The landlord, Glendale Partners of Fishers Crossing Inc., was represented by Paul Rogozinski and Kyle Hughes of Veritas Realty. The tenant represented itself.
-Star Benefit Associates Inc. leased 1,016 square feet of office space at 6525 E. 82nd St. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-Greenleaf Apothecary leased 840 square feet of retail space at 10154 Brooks School Road, Fishers. The tenant was represented by Nathan Smith of Colliers International. The landlord, FCH Associates LLC, was represented by Cindy Hoskinson of Lee & Associates.
Residential
The average rate for 30-year mortgages fell from 4.74 percent to 4.62 percent for the week ended Aug. 28, according to Bankrate.com. The rate for 15-year mortgages fell from 3.75 percent to 3.66 percent.
Construction
-Capitol Construction has completed a 1,900-square-foot office build-out for Tyra Law at 355 Indiana Ave..
-Capitol Construction has completed a 1,360-square-foot office build-out for Elser Financial at 8365 Keystone Crossing.
People
JBM Contractors Corp has hired Keith Cochrun as senior estimator/project manager and Michael Stuerenberg as estimator/project manager.
Indiana splashes economic message on Times Square
The state has taken its economic development efforts to Times Square in New York City, where a couple of 15-second ads promoting Indiana are shown every hour on a 26-foot wide digital screen.
City announces pursuit of 2018 Super Bowl
Indianapolis will seek to host its second Super Bowl in 2018 after a highly praised debut in 2012. “We’re going after the Super Bowl on the merits of our greatness and what we accomplished” in 2012, said Colts owner Jim Irsay.
PROXY CORNER: Allison Transmission Holdings Inc.
Allison Transmission Holdings Inc. designs and manufactures commercial and military fully automatic transmissions and hybrid-propulsion systems for transit buses. The company also sells replacement parts, support equipment and other service products.
TrendyMinds building a video production facility
The facility will include a 16-foot cyclorama—a curved wall that presents the illusion of an endless landscape.
Lids tries to regain glory following fashion shift
Genesco’s hat unit now has reported four consecutive quarters of declining same-store sales—an unusual malaise for a business that from 2001 to 2006 posted a miraculous 19 straight quarters of increased same-store sales.
Daniels’ push to cut costs, create metrics faces skepticism at Purdue
The former governor wants to change the rules of higher education. But first he must convince skeptical professors that his plans aren’t just politics, but actually good for Purdue.
Wal-Mart steps up grocery ambitions
The Indianapolis grocery market is about to become even more competitive, as discount giant Wal-Mart embarks on a strategy to offer consumers a store design much cozier than its cavernous supercenters.
Which Indy hospitals do it right the first time?
Medicare data show some county-owned hospitals around Indianapolis scored better than big-name hospitals like IU Health and Community.
State pension fund’s performance falls short of target
With more money in bonds than in publicly traded stocks, Indiana’s $27.1 billion pension fund took a beating in the Bernanke sell-off and closed the fiscal year short of its targeted return.
Omnicity lured teen to invest, state says
State securities regulators allege that principals of Omnicity Corp. goaded a 19-year-old to invest $100,000 from his inheritance into the wireless broadband firm so that it could clinch the purchase of an Ohio carrier in 2010.
Small radio stations find success with intensely local strategy
Small Indiana-based radio broadcasters are surviving, and in some cases thriving, despite tough times for radio and years of consolidation that put stations in larger cities into hands of national heavyweights.
IU prof’s study suggests putting shareholders on the line
Despite tougher federal laws aimed at curbing executive malfeasance, a study by an Indiana University professor advocates making shareholders more responsible for watching management—or facing financial penalties themselves.