Site chosen for proposed Westfield sports complex
The Hamilton County sports and recreation campus—known as the "Family Sports Capital of America"—is expected to occupy 300 acres and cost millions to fully develop.
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Local firm lands $50 million Coast Guard account
Indianapolis-based technology firm Communications Products Inc. scores its second big government contract in nine months.
IBJ Movie Night: ‘Never Let Me Go’
Win tickets to a sneak preview of the Cary Mulligan/Keira Knightley film.
Critics of parking proposal question $500,000 penalty
City leaders argue the termination fee would be paid only if the city breaks the 50-year agreement after the City-County Council signs off on the deal, not if the contract doesn’t win approval.
Union representing Star employees settles suit
Details of the confidential agreement were not made public. The union said in a letter to Star employees that the eight will receive a financial settlement but will not be rehired.
Obama signs $30B small-business lending bill
Scoring a prized political victory five weeks before the Nov. 2 elections, President Barack Obama on Monday signed a bill to help small businesses expand and hire by cutting their taxes and creating a $30 billion loan fund.
IU gets $4 million grant for new research center
IU will use its Lilly Endowment grant to open its news Center for Law, Ethics and Applied Research in Health Information.
Cook stent could prevent more amputations, study finds
A drug-coated stent from Indiana-based Cook Medical was more effective than standard therapy for patients with blockages in an upper-leg artery, a study found.
Smart gets his first shot as NBA head coach
Hoosier basketball legend Keith Smart was appointed by the Golden State Warriors to replace Don Nelson, the head coach with the most victories in NBA history.
Colts’ Polian: NFL 18-game season is done deal
During Monday night’s weekly radio show, the Indianapolis Colts team president called expanding the schedule by two games “fait accompli,” and said the debate is over.
Leases/leasing contracts
-Direct Tech Sales LLC leased 24,348 square feet at Building 136 in Park 100, 5350 Lakeview Parkway. The tenant was represented by Chip Barnes of NAI Olympia Partners. The landlord, Pinchal & Co., was represented by Duke Realty.
-Exact Target leased 22,064 square feet in The Century Building, 36 S. Pennsylvania St. The tenant was represented by Jenna Barnett of Halakar Real Estate. The landlord, Blue Real Estate, was represented by Matt Langfeldt and Rich Forslund of NAI Olympia Partners.
-St. Vincent Hospital and Health Care Center Inc. leased 7,645 square feet at Naab Road Medical Pavillion, 8414 Naab Road. The landlord, Heather Glen Investors MT LLC, was represented by Brooke Augustin of NAI Olympia Parners. The tenant represented itself.
-An Cheng Inc., dba Ocean Asian Restaurant & Buffett, leased 7,220 square feet at College Park Plaza, 3495 W. 86th St. The landlord, Sandor, was represented by Jamison Downs and John Holloway. The tenant represented itself.
-Safis Solutions leased 3,814 square feet at the Marott Center, 342 Massachusetts Ave. The landlord, Rubin & Levin, was represented by Matt Langfeldt and Rich Forslund of NAI Olympia Partners. The tenant represented itself.
-W.G. Grinders leased 2,729 square feet at Providence Shoppes II, 12505 Old Meridian St., Carmel. The tenant was represented by Keith Fried of Sitehawk Retail Real Estate. The landlord, Buckingham Cos., was represented by Susannah Gershman of Thompson Thrift and Natasha Evans of Buckingham.
-Tax Management Associates Inc. leased 1,681 square feet of office space at 6081 E. 82nd St. The landlord, BREOF Castleton Park REO LLC, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The tenant represented itself.
-The United States Army leased 1,618 square feet at Stony Creek Marketplace, 17033 Mercantile Blvd. The landlord, Inland Southeast Stony Creek LLC, was represented by Larry Davis and Tom English of Sitehawk Retail Real Estate. The tenant represented itself.
-Lincare Inc. leased 1,200 square feet of office space at 8847 Commerce Park Place. The landlord, Dhillon Commerce Park LLC, was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley. The tenant represented itself.
-Hair Cut Connection leased 1,000 square feet of retail space at 9506 N. Keystone Ave. The tenant was represented by Richard Jones of Lee & Associates. The landlord, MA Keystone LLC, represented itself.
Sales/acquisitions
RMEGI LLC bought a 20,000-square-foot building at 970 Western Drive. The price wasn’t disclosed. The buyer was represented by Kelly Williams and Juergen Sommer of Cassidy Turley. The seller, Wiese Enterprises Inc., was represented by Mark Stephenson of Sigma Group.
Construction
-S&B Construction is building an 8,000-square-foot Tire Barn outlet at 14010 Mundy Drive, Fishers. The project is scheduled to be completed by the end of the year.
-S&B Construction is building out a 4,400-square-foot space for Progressive Eye Care at 3902 E. 82nd St. The project is scheduled to be completed by Oct. 18.
Housing
On a seasonally adjusted basis, the pace of mortgage loan activity decreased 1.4 percent for the week ended Sept. 17, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.44 percent from 4.47 percent the previous week. The rate for 15-year mortgages fell to 3.88 percent from 3.96 percent.
Corrections
-St. Francis Medical Group LLC, for Southeast Family Physicians, leased 8,245 square feet in Emerson Office Parke Building 2, 965 Emerson Parkway, Greenwood. The tenant was represented by Travis Tucker of Duke Realty. The landlord, Emerson Office Parke Building Two LLC, was represented by Greg W. Allen and John Cunningham of Allen Commercial Group. The name of the tenant was incorrect in last week’s Real Estate Weekly.
-Jordan-Fishers LLC bought the 40,000-square-foot Village Square retail center at 11033-11361 Allisonville Road, Fishers. The price wasn’t disclosed. The buyer was represented by Keith Dedrick of Corporate Commercial Group. The seller, Huntington Bank, was represented by Bob Barker of Z&B Realty Services. Kevin Broadrick of Marcus & Millichap worked with both buyer and seller. The name of the seller’s broker was incorrect in last week’s Real Estate Weekly.
Developer of senior housing buys big tract near Zionsville
Baptist Homes of Indiana Inc. closed Sept. 17 on 159 acres that encircle the Golf Club of Indiana.
UAW rejects pay cuts; local GM plant could close
Union employees at General Motors' Indianapolis metal-stamping plant have overwhelmingly rejected a proposed pay cut that would have kept the facility open.
BPG sells trio of Keystone Crossing buildings
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
Murder trial set to begin
The trial for an Indianapolis man accused in a 2008 double murder is expected to get under way on Monday. Michael Brown is charged with killing his friends, 73-year-old Eric Hendricks and 70-year-old Milton Lindgren, who were found beaten to death in their home on the city’s southwest side. Brown was arrested a few weeks later in San Diego. Prosecutors believe Brown was stealing money from the victims.