Judge orders Clear Channel to sell key Speedway parcel
The town of Speedway will pay Clear Channel $189,000 for its interest in a key piece of property near the Indianapolis Motor Speedway.
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Fast-food roundup: Dunkin, DQ, McAlister’s, Wendy’s, Panda Express, Fast Burrito
Our roundup of new fast-food and fast-casual restaurants including Dairy Queen, Wendy’s and McAlister’s will provide plenty of fodder for the anti-chain crowd.
Massive Anson project showing residential, retail progress
Duke Realty Corp. has retrenched at its massive Anson development in Whitestown—focusing on the most promising sections, rearranging some of its site plans, and letting land-purchase contracts expire on about 300 acres where development prospects are likely several years away.
Indy 500 Last Row Party rolls out new features
One of the Indy 500’s best peripheral events, the Last Row Party celebrates its 40th anniversary. Organizers have several special activities and guests slated this year.
Developer Kite to remake key corner in Carmel
Kite Realty Group Trust is planning a Rivers Edge-like overhaul of two shopping centers it owns at 116th Street and Rangeline Road in Carmel. The Indianapolis-based real estate firm already has landed new tenants, including a natural and organic grocery store and a handful of restaurants.
Prominent downtown buildings offered for sale
Greater availability of debt financing has spurred renewed interest in real estate deal-making. Chase Tower and Rolls-Royce's downtown complex are for sale, while Capital Center is under contract.
Van takes out fire hydrant
A van crashed into a fire hydrant early Tuesday morning on the northwest side of Indianapolis, prompting the closure of one lane of 16th Street near Lafayette Road for several hours. Police aren’t sure what caused the vehicle to veer from the road about 1:30 a.m. The impact ripped the hydrant from its mount, causing water to gush out and flood the area.
Mainstreet signs operator for new health care properties
A Cicero-based developer has signed a national senior-living company to operate four new properties it plans for Indiana.
Company news
EMC Precision Machining in Sheridan gave each of its 93 employees a bicycle Friday for exceeding cost-cutting goals. The incentive is part of a larger campaign the company adopted this year to promote both employee and company health and fitness. The bikes are a reward to employees for submitting ideas approved by the company that should result in annual savings of $300,000—double the goal set by EMC. The company spent about $30,000 to purchase the bikes and to throw a cookout to celebrate the occasion. EMC was founded in Ohio in 1925 and opened its Sheridan location in 2009 after purchasing Biddle Precision Components.
A Cicero-based developer has signed a national senior-living company to operate four new developments it plans for Indiana. Mainstreet Property Group LLC said May 30 that it has entered into a joint venture with Des Moines-based Life Care Services for new projects in Wabash, Avon, Westfield and Crawfordsville. Construction has begun on Wabash Health and Wellness Suites, a $15 million nursing and assisted-living property. Earlier in May, Mainstreet filed a prospectus for a new publicly traded company called HealthLease Properties Real Estate Investment Trust, which would be traded on the Toronto Stock Exchange. Mainstreet is seeking to raise $110 million, according to a prospectus. The Mainstreet-LCS project site in Westfield is adjacent to Grand Park, and the site in Avon is at 10307 E. County Road 100 North. Neither of those projects will be part of the new REIT. Earlier this year, Mainstreet received approval from the city of Indianapolis to build a $15.7 million senior health care center at East 16th Street and Arlington Avenue. Overall, the company owns or co-owns at least 13 senior health care centers in Indiana, Illinois and Ohio, and has at least six more under development. It also plans to break ground on up to 12 centers by the end of the year.
The Indiana University National Center of Excellence in Women's Health has been awarded two grants from the Indiana State Department of Health, totaling nearly $400,000, to focus on preventing pregnancies, especially among teens. The money will be used to pay for a traveling bus, which will provide health screenings and education programs in Marion, Clay and Delaware counties. The IU center also hopes to partner with health care providers in other parts of the state where women have poor access to primary health care resources.
nFrame plans multi-million-dollar expansion of data center
Carmel-based nFrame plans a multimillion-dollar expansion of its high-tech data center near Pennsylvania and 116th Streets, the company disclosed Wednesday.
Leases/leasing contracts
-Jones Lang LaSalle has been appointed exclusive leasing agent for Lake Pointe II, at 8440 Allison Pointe Blvd., and Woodland Center I and II, 8275 and 8335 Allison Pointe Trail. The office properties total 215,961 square feet. John Robinson and Jimmy Clark are in charge of leasing the properties for Jones Lang LaSalle.
-Lovett Pallet LLC leased 72,490 square feet of industrial space at 217 S. Belmont Ave. The tenant was represented by Kelly Williams of Cassidy Turley. The landlord, Material Handling Exchange, represented itself.
-Aircom Manufacturing leased 35,000 square feet of industrial space at 2402 N. Shadeland Ave. The tenant was represented by Bart Book, Todd Vannatta and George Charbonneau of Cassidy Turley. The landlord, Shadeland South Business Park, represented itself.
-IDI Composites International renewed its lease for 9,750 square feet of industrial space at 3477 E. Conner St., Noblesville. The tenant was represented by Walter Freihofer of Freihofer Inc. The landlord, Kahlo III LLC, was represented by Bob Lindgren of Lee & Associates.
-American Mattress leased 6,315 square feet at North Willow Commons, 1410-1518 W. 86th St. The tenant was represented by Jeff Haas of Julius M. Fineblum Real Estate. The landlord, Broadbent Co., was represented by Broadbent's John Beuoy.
-American Healthcare Group Inc. leased 3,500 square feet of office space at 2920 E. 96th St. The tenant was represented by Darrell Pike of Pike Real Estate Services LLC. The landlord, Jean M. Weber Trust, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.-Accelerated Health Systems leased 3,200 square feet at Fishers Town Commons, 8211 and 8235 E. 116th St., Fishers. The tenant was represented by Jonathan Sharp of HSA Commercial Real Estate. The landlord, Broadbent Co., was represented by Brian Broadbent.
-Game Time leased 2,638 square feet at Castleton Plaza, 6314-6398 E. 82nd St. The landlord, Broadbent Co., was represented by Josh Broadbent. The tenant represented itself.
-Firehouse Subs leased 2,400 square feet at Brownsburg Village, 124 E Northfield Drive, Brownsburg. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, BVSC LLC, was represented by Jodi Milto of Midland Atlantic.
-Atlas Family Dental leased 1,613 square feet at Raceway Crossing, 10934-10976 E. U.S. 36, Avon. The tenant was represented by Jim Austin of Revel Underwood. The landlord, Broadbent Co., was represented by Brian Broadbent.
-Nutricion Y Salud leased 1,600 square feet at Lafayette Shoppes, 3840-3882 Lafayette Road. The landlord, Broadbent Co., and was represented by Brian Broadbent. The tenant represented itself.
-Runners Forum leased 1,547 square feet at The Shoppes at 141st Street, 14005-14099 Mundy Drive, Fishers. The landlord, Broadbent Co., was represented by Brian Broadbent. The tenant represented itself.
-Sweet Treats leased 1,400 square feet at Avon Crossing, 7900 E. U.S. 36, Avon. The landlord, Cranfill Development Corp., was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.
-Bernard Health LLC leased 1,229 square feet of retail space at Nora Plaza, 1300 E. 86th St., Suite C-150. The tenant was represented by Andrew Clifford of Clifford Realty. The landlord, Ramco Gershenson Inc., represented itself.
-Eclipse Hair leased 900 square feet at Castleton Plaza, 6314-6398 E. 82nd St. The landlord, Broadbent Co., was represented by Josh Broadbent. The tenant represented itself.Lauth embarks on turnaround of The Congressional in Carmel
The local developer moved its offices into the building and plans more than $2 million in upgrades to reposition a property that fell on hard times at the dawn of the national real estate crisis.
Cause, origin of apartment building fire undetermined
The fire destroyed part of 16 Park, a $34 million affordable housing development that's intended to help spur a revival of the 16th Street corridor.
16 Park developer to rebuild after ‘heartbreaking’ fire
The Friday blaze engulfed a four-story, 28-unit apartment building due to open this fall as part of the $34 million 16 Park project. The Indianapolis Housing Agency says construction will resume as soon as possible.
History on the block
This example of Jacobethan Revival architectural style, the Glossbrenner Mansion at 3202 N. Meridian St., is about to be listed for sale.
Toddler injured in drive-by shooting
A 2-year-old girl was hospitalized Sunday night after being struck by gunfire near West 16th and North Tremont streets. The girl’s mother told police her daughter was in a child seat in the back of a car traveling near the intersection about 11:45 p.m. when she was shot in the leg by someone in another vehicle. Police say the shots were fired from a vehicle belonging to the woman’s ex-boyfriend.
EDITORIAL: Road construction carries high costs
Hamilton County motorists may be forgiven the occasional bout of road rage this summer.
Leases/leasing contracts
-Goodwill Education Initiatives Inc. leased 22,198 square feet at 2855 N. Franklin Road. The landlord, Norry Management, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group. The tenant represented itself.
-Shepherd Insurance LLC leased 18,853 square feet at The Congressional, 116th Street and Pennsylvania Parkway, Carmel. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Lauth Group Inc., represented itself.
-Granite City Food & Brewery leased 9,603 square feet in Circle Centre mall. The tenant was represented by Tom Niessink and Connie Niessink of Niessink Commercial Real Estate. The landlord, Circle Centre Mall LLC, was represented by Jamie Christmas of Simon Property Group.-Meridian Design leased 6,579 square feet of office space at 355 Indiana Ave. The tenant was represented by Rich Forslund of Summit Realty Group. The landlord, McGowan Insurance Group, was represented by John Crisp and Spud Dick of Cassidy Turley.
-Hatchett & Hauck renewed its lease for 4,012 square feet at 111 Monument Circle. The tenant was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group. The landlord, Beacon Capital Partners, was represented by John Robinson and Adam Broderick of Jones Lang LaSalle.
-Home Service Experts Inc., dba Mr. Rooter, leased 3,300 square feet at 7266 E. 86th St. The tenant was represented by Tyler Wilson of Summit Realty Group. The landlord, Mann Properties, was represented by Debbie Mann.
-Thoughtburst leased 3,263 square feet at The Congressional, 116th Street and Pennsylvania Parkway, Carmel. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Lauth Group Inc., represented itself.
-Firehouse Subs leased 2,040 square feet at Castleton Shops, 5963 E. 82nd St. The tenant was represented by Keith Stark of SITUS Realty Corp. The landlord, Castleton Shops LLC, was represented by Dean Almas of Sitehawk Retail Real Estate.
-MC Sales & Consulting leased 2,017 square feet of office space at Carmel Office Court, 301 E. Carmel Drive, No. A300, Carmel. The landlord, Carmel-301 LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
-The Strategy Forums leased 1,672 square feet at The Congressional, 116th Street and Pennsylvania Parkway, Carmel. The tenant and landlord, Lauth Group Inc., were represented by Darrin Boyd and David Moore of Cassidy Turley.
-Yogo Land leased 1,300 square feet at 98A N. 10th St., Noblesville. The landlord, 98N10th LLC, was represented by J.W. Ernst of Charter Commercial Realty Group. The tenant represented itself.
-Paradise Personal Training leased 1,280 square feet of office space at Carmel Office Court, 301 E. Carmel Drive, No. E100, Carmel. The landlord, Carmel-301 LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
-Gammas Dream LLC leased 1,200 square feet of office space at Carmel Office Court, 301 E. Carmel Drive, No. A600, Carmel. The landlord, Carmel-301 LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
Dealmaking, construction picking up on Speedway’s Main Street
The six-block stretch just outside the front door of the historic Indianapolis Motor Speedway was desolate when the town of Speedway formed a redevelopment commission in June 2005.