FedEx launches nonstop flights from China to Indy
First nonstop scheduled cargo flights from China are a milestone for Indianapolis International Airport and could attract companies that rely on ready access to Asia.
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Alfa-Romeo ponders joining IndyCar, new sponsors jump in
On a day when Dallara breaks ground on new IndyCar manufacturing facility, Alfa-Romeo is pondering joining series as its third engine supplier. And that may not be the end of the good news for the open-wheel series.
Some IUPUI adjunct instructors to receive 3-percent raises
A coalition representing part-time educators within IUPUI’s School of Liberal Arts called for a pay hike after full-time faculty received a similar raise.
Simon CEO: Mall owner has ‘firepower’ for deals
Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said Tuesday.
Super Bowl workshop targets minority, female firms
The first of three meetings to encourage minority- and women-owned companies to pursue 2012 Super Bowl contracting opportunities is Tuesday evening at the Madame Walker Theatre Center.
Labor costs being watched at Duke Energy plant
Cost pressures could eat away at $2.9 billion Edwardsport project’s contingency fund, leaving no room for unexpected costs during startup and testing, Duke told the Indiana Utility Regulatory Commission.
Court upholds Lilly patent on cancer drug Alimta
A U.S. District Court judge on Monday upheld Eli Lilly and Co.’s patent on the cancer drug Alimta, protecting the compound until July 2016. It was a welcome win after a difficult few months for Indianapolis-based Lilly, which is facing a wave of patent expirations in coming years.
Automotive supplier plans 200 new jobs at Butler plant
Multimatic Inc. plans to expand its northeast Indiana production operation, adding new assembly lines as it aims to create over 200 jobs by 2013—more than tripling employment there.
Indiana environmental activists to push bipartisan agenda
Jesse Kharbanda, executive director of the Hoosier Environmental Council, said the new Legislature will make it more challenging to sell environmental initiatives mainly because there are more than two dozen freshmen lawmakers he and others will have to court.
City-County Council OKs parking privatization
City-County Council members voted 15-14 Monday night to clear the way for Indianapolis to lease its parking meters to a private firm, a move proponents say will upgrade the system even as it generates revenue for infrastructure improvements.
KAR plans to add 249 jobs in Carmel expansion
KAR Auction Services Inc. announced Monday night that it plans to expand its Carmel headquarters, creating up to 249 jobs by 2015.
Housing
On a seasonally adjusted basis, the pace of mortgage loan activity jumped 5.8 percent for the week ended Nov. 5, according to the Mortgage Bankers Association. The rate for 30-year mortgages was unchanged at 4.28 percent. The rate for 15-year mortgages remained at 3.64 percent.
Construction
-Alt Construction has started a 12,000-square-foot tenant build-out for Marion County Traffic Court at 8115 E. Washington St. The project is scheduled to be completed next month.
-Alt Construction has started a 12,500-square-foot tenant build-out for Planet Fitness at 8811 Hardegan St. The project is scheduled to be completed next month.
-Kort Builders has started a 3,000-square-foot restaurant addition for Ale Emporium at 8617 Allisonville Road.
-Shamrock Builders-Commercial has started construction of a new dental office for Dr. Kevin Toole at 480 E. Northfield Drive, Suite 400. The 1,740-square-foot office is to be completed by Jan. 15.
COAN: Stocks will get worse before they get better
Looking at the final years of the Great Depression tells me that next year might not be so kind to investors.
Leasing/leasing contracts
-Compass Group USA Inc. leased 20,160 square feet of industrial space at 2610 E. Fortune Circle. The tenant was represented by Kyle Powell and Don Treibic of Cassidy Turley. The landlord, Blue Real Estate, was represented by Jake Sturman and Brian Buschuk of Jones Lang LaSalle.
-DuCharme McMillen & Associates Inc. leased 17,499 square feet of office space at Allison Pointe, 8440 Allison Pointe Blvd. The tenant was represented by Steve Beals of Lee & Associates. The landlord, TIC Properties Management LLC, was represented by Bryan Miller of Cassidy Turley.
-Girls Scouts leased 15,713 square feet at 2611 Waterfront Parkway, East Drive. The tenant was represented by Rebecca Baer of Summit Realty Group. The landlord, New Boston Jacaranda L.P., was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.
-Dreamscape Landscaping leased 7,200 square feet of industrial space at 4021 W. 10th St. The landlord, Speedway Industrial Park, was represented by Bill Byram of Cassidy Turley. The tenant represented itself.
-The Indianapolis affiliate of the Susan G. Komen Breast Cancer Foundation Inc. leased 3,321 square feet of office space at 3500 DePauw Blvd. The tenant was represented by Mary Beth Kohart of Cassidy Turley. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett M. Williams of Cassidy Turley.
-Formstack Inc. leased 3,245 square feet of office space at 6525 E. 82nd St. The tenant was represented by Todd Morris of JTM Commercial. The landlord, BREOF Castleton Park REO LLC, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley.
-Hunt Big Sales leased 3,186 square feet of office space at 10150 Lantern Road, Fishers. The tenant was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley. The landlord, Genesis Development Group LLC, was represented by Paul Dick of Colliers International.
-New Balance Shoe Store leased 3,147 square feet of retail space at West Carmel Marketplace, 9893 N. Michigan Road. The tenant, Brad Stout, was represented by Tom Megenhardt of Thomas K. Megenhardt Commercial Real Estate. The landlord, CASTO, was represented by John Byrne and Jacque Haynes of Cassidy Turley.
-Wellspring Counseling & Consulting Resources LLC leased 1,515 square feet of office space at 3091 E. 91st St. The landlord, BREOF Keystone REO LLC, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The tenant represented itself.
-ASI Inc. leased 1,000 square feet in Greenwood Oaks Business Centre, 500 S. Polk St, Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.
-Indy Intervention renewed its lease for 800 square feet of office space in Greenwood Oaks Business Centre, 500 S. Polk St, Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.
Sales/acquisitions
-EMK Property Investors, Greenwood, bought Presidential Estates Apartments at 1808 Century Way, behind St. Vincent Hospital. The 255-unit complex was listed for $6.75 million. The sale price wasn’t disclosed. Tikijian Associates represented both the buyer and seller, Greystone Bank. The new owner hired Indianapolis-based Barrett & Stokely to manage the property.
-Conesero Property LLC bought a 4,821-square-foot industrial building at 4761 Industrial Parkway. The price wasn’t disclosed. The buyer was represented by Fritz Kauffman of Cassidy Turley. Kauffman also represented the seller, Industrial Space Management Corp.
-M Street Church of Christ bought a synagogue at 5879 Central Ave. The price wasn’t disclosed. The buyer was represented by Collette Owen of CMO Real Estate. The seller, Shaarey Tefilla Congregation, was represented by Ralph Balber and Ashley Bussell of Halakar Real Estate.
Indianapolis investment adviser Gene Tanner in it for the long haul
At 78, L. Gene Tanner is one of the longest-serving investment advisers working in Indianapolis. Tanner spoke with IBJ's Norm Heikens about why he shifted to City Securities, his brush with convicted Ponzi scheme operator Bernard Madoff, and how his investment strategy has changed.
Gold is booming, but for how long?
Experts are split over whether runup in precious metal is a classic bubble.
Trail Side project faces another hurdle
A $10 million apartment and retail building planned for 875 Massachusetts Ave. was supposed to have broken ground by now. But difficulty in closing the sale of tax credits that will be used to finance the project could cause the deal to unravel.
Rolls-Royce eyeing former Lilly campus downtown
If the manufacturer and drugmaker can come to an agreement, Rolls-Royce would lease the space formerly occupied by Eli Lilly and Co. and relocate some of its 2,500 employees to the downtown campus on South Meridian Street. Discussions are expected to last several months.