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Local software developer plans to add 25 jobs

October 2, 2012

Connect Think LLC said it will add the jobs by 2016 and will invest $244,000 in equipment to continue its focus on mobile application development.

Council approves new downtown TIF district

October 2, 2012

The Indianapolis City-County Council on Monday night voted 25-2 to expand the downtown tax-increment financing district to the northeast and northwest.

Dems, GOP launch on-air ad spree for Senate seat

October 2, 2012

Indiana has quickly become a major battleground in the race for control of the U.S. Senate, with national Republicans and Democrats forking over more cash this week to tea party favorite Richard Mourdock and Democrat Joe Donnelly.

Construction

October 1, 2012

-Mezzetta, Inc. has completed a 5,600-square-foot retail remodel for Royal Gallery of Rugs at 8689 River Crossing Blvd. at Keystone at the Crossing.  

-Capitol Construction has completed a 3,000-square-foot office expansion for Endocyte at 8910 Purdue Road.

-Kort Builders has completed a 1,650-square-foot office build-out for Mass Ave Animal Clinic, 625 N. East St.

Residential

October 1, 2012

The average rate for 30-year mortgages fell to 3.55 percent from 3.70 percent in the week ended Sept. 26, according to Bankrate.com. The rate for 15-year mortgages fell to 2.88 percent from 2.95 percent.

Leases/leasing contracts

October 1, 2012

-Connecticut Electric Inc. leased 33,500 square feet of industrial space at 1819 W 38th St., Anderson. The tenant and landlord, Duo Co., were represented by Thomas Willey of Willey Commercial Real Estate.

-Mini Blessings Childcare Ministry leased 12,000 square feet at Emerson Way Shopping Center, 5410 Emerson Way. The tenant was represented by Joe Lonneman of Ambrose Property Group. The landlord, Emerson Way LLC, was represented by Tracey Holtzman of Midland Atlantic Properties.

-Half Price Books leased 8,800 square feet at Clearwater Village, 4611-4737 E. 82nd St.  The tenant was represented by Dawn Lyon of Site Link Commercial Realty. The landlord, Broadbent Co., was represented by John Beuoy of Broadbent.

-Horizon Bank leased 7,040 square feet of office space at 117 E. Washington Street, Indianapolis. The tenant was represented by John Crisp of Cassidy Turley. The landlord, The Broadbent Co., was represented by Josh Broadbent.

-Prime Lending leased 6,216 square feet of office space at 50 E. 91st St. The tenant was represented by Bennett Williams of Cassidy Turley. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin of Cassidy Turley.

-Transition Resources Corp. leased 3,800 square feet of office space at 600 Corporation Drive, Pendleton. The tenant and landlord, Tower Pendleton LLC, were represented by Thomas Willey of Willey Commercial  Real Estate.

-Accelerated Health Systems LLC leased 3,545 square feet at Raceway Crossing, 10934-10976 E. U.S. 36, Avon.  The tenant was represented by Jonathan Sharp at HSA Commercial Real Estate.  The landlord, Broadbent Co., was represented by Brian Broadbent.

-ATI Physical Therapy leased 3,305 square feet of retail space at 433 N. Capitol Ave. The tenant was represented by John Crisp of Cassidy Turley. The landlord, American United Life Insurance Co., was represented by Jacque Haynes and Don Williams of Cassidy Turley.

-Detour American Grille Express leased 3,200 square feet at Fashion Mall Commons, 8487 Union Chapel Road. The tenant was represented by Rob Warstler at Colliers International. The landlord, Broadbent Co., was represented by John Beuoy of Broadbent.

-Bi Qin Shao leased 3,154 square feet at Pyramid Place Shoppes, 3502  W. 86th St. The tenant was represented by Jeff Hubley of Midland Atlantic Properties. The landlord, Centre Properties, was represented by Dean Almas of Sitehawk Retail Real Estate.

-Snap MyLife Indianapolis leased 2,917 square feet of office space at 8335 Allison Pointe Trail. The tenant was represented by David Black of Cresa Partners. The landlord, TIC Properties Management LLC, was represented by Bryan Miller of Cassidy Turley.

-Get Real Sports Sales leased 2,695 square feet of office space at 550 Congressional Blvd., Carmel. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Trigild, was represented by Rich Forslund of Summit Realty Group.

-Fugi Foot Spa leased 2,400 square feet at Greenwood Place, 7551-7747 S. Shelby St. The tenant was represented by Itamar Cohen of Indiana Realty Group.  The landlord, Broadbent Co., was represented by Josh Broadbent.

-MOD Salon leased 2,334 square feet at Clearwater Shoppes, 3809-3981 E. 82nd St. The landlord, Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.

-Boost Mobile leased 1,737 square feet at Georgetown Plaza, 4825-4959 W. 38th St. The landlord, Broadbent Co., was represented by Brian Broadbent. The tenant represented itself.

-Pyone Cho Asia Market leased 1,600 square feet of retail space in Greenbriar Shopping Center, 1321 W. 86th St. The landlord, Prime Property Investors Fund VIII LP, was represented by Bart Jackson of Lee & Associates. The tenant represented itself.

-Frame and Save leased 1,400 square feet at Castleton Point, 5305-5499 E. 82nd St. The landlord, Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.

-Whisper Hearing Center leased 1,368 square feet of office space in Smith Valley Professional Center, 1700 W. Smith Valley Road, Greenwood.  The tenant was represented by Stephen Adams and Riley Faulk of Hokanson Cos. The landlord, Smith Valley Investment LLC, was represented by Cathy Richards of Lee & Associates and Keith Turnbill of RE/MAX Select.

-Holy Family Books & Gifts leased 1,280 square feet at Carmel Walk Shopping Center, 1327 S. Rangeline Road, Carmel. The landlord, The Fineberg Group LLC, was represented by Patrick Boyle of Midland Atlantic Properties. The tenant represented itself.

Sales/acquisitions

October 1, 2012

-U.S. Properties bought a 50,000-square-foot commercial building at 4701 Rockville Road. The buyer was represented by Ron Bowden of Evergreen Investments. The seller, ONB Realty, was represented by Keith Dedrick of Corporate Commercial Group.

-643 Mass Ave. LLC bought a 9,000-square-foot retail/office building at 643 Massachusetts Ave. The buyer was represented by Bryan Paine of ReMax Acclaimed Properties. The seller, FEC Investments, was represented by Jodi Milto of Midland Atlantic Properties.

-4841 Industrial Parkway LLC bought a 5,320-square-foot industrial building at 4841 Industrial Parkway. The seller, Star Financial Bank, was represented by Fritz Kauffman of Cassidy Turley. The buyer represented itself.

Developer targets long-empty College Avenue retail building

October 1, 2012

Teagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from an attempt—since withdrawn—to demolish the structure.

IndyCar denies getting offer from George to buy series

October 1, 2012

The Sports Business Journal is reporting that former Indianapolis Motor Speedway CEO Tony George has assembled an investor group that includes race team owners Chip Ganassi, Roger Penske, Michael Andretti and Kevin Kalkhoven to buy the IndyCar Series.

Bernanke: Economy growing much too slowly to put people back to work

October 1, 2012

Federal Reserve Chairman Ben Bernanke told a local lunch crowd that he expects the economy to keep growing, but he said the growth is so slow that it could create a "permanent group" of underemployed Americans.

Store clerk shoots would-be robber

October 1, 2012

An Indianapolis store employee armed with a handgun shot and killed a robbery suspect about 1 a.m. Monday at the 21st Amendment liquor shop at 3939 S. Keystone Ave., police say. Three employees told investigators that the man was armed with a gun and demanded money before store clerk Zachary Rogers shot and killed him. Rogers, an Iraq veteran, was in his third night on the job.    
 

Police probe death after house fire

October 1, 2012

Indianapolis police and arson investigators are probing the discovery of a body inside a fire-damaged home in Lawrence Township. Bryant Steele, 27, was found dead in his home at 3921 Chateau Drive about 7 a.m. Sunday after a blaze was put out by firefighters. Relatives said Steele, who has a lengthy criminal history, frequently went out in public dressed as a woman and may have been a target for violence. The fire caused an estimated $90,000 in damages.
 

Sledge’s exit will keep IU program mostly intact

October 1, 2012

The departure of Dr. George Sledge likely will sap the breast cancer research program at the Indiana University Melvin and Bren Simon Cancer Center of about $500,000 in annual funding. But the program Sledge built over the past three decades mostly will remain intact.

Butler picks developer for $45M campus project

October 1, 2012

Butler University trustees have picked locally based Keystone Group to build a parking, retail and residential project on campus between Clowes Hall and Hinkle Fieldhouse.

Fortune Industries plans to exit PEO business

October 1, 2012

In an unusual turn of events, the publicly traded professional employer organization is abandoning its plans to be taken private and instead hopes to become a skilled-nursing operator through a merger with a Greenfield-based company.

Cummins gets EPA approval for key engine

October 1, 2012

Cummins Inc. has received the Environmental Protection Agency’s blessing on a redesigned engine that will meet the first-ever set of federal standards for heavy-duty truck emissions.

Will Medicaid expansion actually work?

October 1, 2012

It would be “absurd” and a “travesty” for Indiana not to expand its Medicaid program, according to two local hospital officials. And yet other health care leaders do not expect expanded Medicaid coverage to provide nearly as much help to uninsured Hoosiers as hoped.

Bernanke makes strong defense of Fed rate policies

October 1, 2012

In a speech in Indianapolis, Chairman Ben Bernanke offered a sharp defense Monday of the Federal Reserve's bold policies to stimulate the weak economy, while cautioning Congress to respect its private discussions.

Colts coach Pagano to miss much of season with leukemia

October 1, 2012

Indianapolis Colts Head Coach Chuck Pagano has been diagnosed with a treatable form of leukemia and will miss some of the team’s upcoming games, the team announced Monday morning.

Receiver appointed to manage troubled Century Building

October 1, 2012

A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.

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