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Owner of city apartment complex files Chapter 11

The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.

Kroger drops plans for Michigan Road store

The locally owned landscape center Altum's said in a note to customers last week that Kroger has withdrawn plans to build a new grocery store on the nursery property on the edge of Carmel.

UPDATE: New product, services drive ExactTarget growth plans

A new product roll-out and increasing demand for client services will drive ExactTarget's growth over the next five years, CEO Scott Dorsey said Tuesday after his firm announced that it would invest $45M and add 500 employees through 2015.

Cummins shares fall after quarterly report

Cummins Inc. reported $283 million in third quarter profit, a three-fold increase from the year-ago period, but the performance missed analyst expectations.

American Commercial Lines sued over $777M buyout bid

Officials of Jeffersonville-based American Commercial and private-equity firm Platinum Equity LLC structured the $33-a-share offer in a way that unfairly bars other bids for the shipping company, American Commercial shareholder Leonard Becker said in his lawsuit.

City-County Council approves 2011 budget

The CIB’s $73.1 million budget, which included a $10 million payment to the Pacers for the operation of Conseco Fieldhouse, passed by a 15-14 vote.

NCAA tackles agents issue, looks to new sanctions

Several groups are working with the NCAA to find new ways to enforce rules prohibiting improper agent-related benefits for student-athletes, including possible post-NCAA financial penalties that reach into a player’s potential NFL career.

Leasing/leasing contracts

-Stanley Black & Decker Inc. leased 219,968 square feet of industrial space at 501 W. New Road, Greenfield, where it will consolidate plants that operate in Shelbyville and Connecticut. The tenant was represented by Tom Cooler of CB Richard Ellis Indianapolis and Mike McLaughlin of CB Richard Ellis Chicago. The landlord, Cabot II-IN1B02 LLC, was represented by Mark Writt of CB Richard Ellis.

-Citi Trends Inc. leased 13,310 square feet at Twin Aire Plaza, 674 Twin Aire Drive. The tenant was represented by Larry Davis and Tom English of Sitehawk Retail Real Estate. The landlord, MER-CAR Corp., represented itself.

-Family Christian Stores leased 5,000 square feet at Southtown Centre, South Scatterfield Road, Anderson. The tenant was represented by Scott Gray of Sitehawk Retail Real Estate. The landlord, Charles Street Associates LLC, was represented by Paul Nicholson of Central Management.

-Shoe Trend leased 4,420 square feet at Eagledale Plaza, 2802 N. Lafayette Road. The landlord, Sandor Development Co., was represented by Sandor’s Jamison Downs and John Holloway. The tenant represented itself.

-Tratek leased 4,000 square feet at 15335 Endeavor Drive, Noblesville. The tenant was represented by David Ponader and Sam Smith of Colliers International. The landlord, Bullock & Co., was represented by John Hanley of CB Richard Ellis.

-Company Wrench Limited LLC leased a 3,600-square-foot industrial building at 7019 Brookville Road. The tenant was represented by Cameron Kucic of Summit Realty Group. The landlord, Coraz Realty Inc., was represented by Bill Brennan of Lee & Associates.

-Wound Vision LLC leased 3,100 square feet of office space in Fletcher Place Lofts, 410 S. College Ave. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, Von Deylen Family LLC, was represented by Sandra Jarvis of IndySQUARED.

-Personal Finance Co. leased 2,500 square feet at Hobby Lobby Plaza, 1804 S. Scatterfield Road, Anderson. The landlord, Sandor Development Co., was represented by Sandor’s Jamison Downs and John Holloway. The tenant represented itself.

-Lewis and Wilkins LLP leased 2,033 square feet of office space in Fletcher Place Terrace, 427 S. College Ave. The tenant was represented by Bryan Augustin of NAI Olympia Partners. The landlord, Deylen Realty Inc., was represented by Sandra Jarvis of IndySQUARED.

-Taylor’s Appraisal Service Inc. leased 1,200 square feet of office space in The Vantage Centre, 720 Executive Park Drive, Greenwood. The tenant was represented by Bruce Richardson of Royal Cos. The landlord, Act III Investments, was represented by Cathy Richards of Lee & Associates.

Sales/acquisitions

-Masterpiece Classic Cars LLC bought 27,586 square feet of industrial space at 675 South U.S. 31, Whiteland. The price wasn’t disclosed. The seller, Forty One Corp., an affiliate of Huntington Bank, was represented by Greg Folz and Michael Weishaar of Cassidy Turley. The buyer represented itself.

-Wexford on the Park LP bought former Indianapolis Public School No. 30 at 38 Miley Ave., near West Washington Street and North Belmont Avenue. The price wasn’t disclosed. The buyer was represented by Gary Merritt. The seller, RealtyLink Inc., was represented by Sandra Jarvis of IndySQUARED.

Housing

On a seasonally adjusted basis, the pace of mortgage loan activity fell 10.5 percent for the week ended Oct. 15, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 4.34 percent from 4.21 percent the previous week. The rate for 15-year mortgages grew to 3.74 percent from 3.62 percent.

Grand jury indicts OmniSource for racketeering

A Marion County grand jury has returned an eight-count indictment against OmniSource Corp., accusing the metal recycling powerhouse of racketeering and receiving stolen property. Company president Mark Millett called the allegations "unfounded."

WellPoint dismisses highly paid subsidiary CEO

Last year, Dijuana Lewis earned a $650,000 salary as one of the insurer’s highest paid executives and received a $200,000 bonus in part for helping to lead the sale of the NextRx subsidiary to Express Scripts Inc. for about $4.68 billion.