Cummins reports record quarterly sales, profit
Sales for the fourth quarter were $4.1 billion, up 22 percent from the same period in 2009. Quarterly profit of $362 million, or $1.84 per share, exceeded analyst expectations.
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Articles
Integra Bank’s auditor says situation may be dire
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
Pacers fire O’Brien, make Vogel interim coach
President Larry Bird fired head coach Jim O’Brien on Sunday after the team squandered a promising start to the season by losing seven of its past eight games.
Charter school’s nimble approach could become the norm
Indianapolis Metropolitan High School implemented a school-wide overhaul in its educational approach in only three months. The charter school might be the face of the future for all Indiana public schools.
Bren Simon fires attorneys in estate dispute, appeals ruling
Bren Simon is poised to replace her outside legal team in favor of a heavy hitter from Chicago as she appeals two courtroom setbacks in Hamilton County.
Illinois governor responds as states try to poach jobs
Gov. Pat Quinn has a message for New Jersey Gov. Chris Christie and officials from other states trying to lure jobs from Illinois: Back off.
Remy International considering stock offering, CEO says
Pendleton-based Remy International Inc., the former General Motors Co. unit that exited bankruptcy in 2007, is considering a public offering of its stock this year, CEO John Weber says.
St. Louis firm pursuing local retail, industrial properties
Bianco Properties has purchased its fourth Indianapolis property in less than five years and is pursuing more deals here.
Leasing/leasing contracts
-The Family & Social Services Administration renewed its lease for 86,000 square feet at 2525 Shadeland Ave. The tenant was represented by R.J. Rudolph and Tim O’Brien of Colliers International. The landlord, Norry Management, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
-Arlington/Roe leased 21,089 square feet at 8900 Keystone Crossing. The tenant was represented by Rick Trimpe of CB Richard Ellis. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Planet Fitness leased 19,260 square feet at North Willow Mall, 2302 W. 86th St. The tenant was represented by Bart Jackson of Lee & Associates. The landlord, Township 86th Development Co. LP, was represented by Keith Fried of Sitehawk Retail Real Estate.
-Flaherty & Collins Inc. leased 12,871 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.
-Slingshot SEO leased 11,576 square feet at 8900 Keystone Crossing. The tenant was represented by Bennett Williams of Cassidy Turley. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Horizon Planning Group leased 9,344 square feet at 9000 Keystone Crossing. The tenant was represented by Andrew Follman of Meridian Real Estate. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Investors Titlecorp leased 6,392 square feet at 111 Congressional Blvd., Carmel. The tenant was represented by Debbie Shumate Johnson of Alliance Commercial Real Estate. The landlord, Technology Center Associates LP, was represented by Mike Napariu of REI Real Estate Services.
-3DT Holdings leased 5,637 square feet at 251 N. Illinois St. The tenant was represented by Lynn S. Fischer of Fischer & Associates Inc. The landlord, Indiana Secondary Market for Education Loans Inc., was represented by Ryan Conrad of Colliers International.
-Stewie’s Family Pub leased 3,200 square feet at Saratoga Shops, 1070 W. Main St., Plainfield. The tenant was represented by Bart Jackson of Lee & Associates. The landlord, Saratoga Associates LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.
-Dr. Ronald Banta, D.P.M., Inc. renewed its lease for 2,789 square feet of space at Keystone Office Park, 3077 E. 98th St., Suite 100. The tenant was represented by Conrad Jacobs and Matt Kiger of Newmark Knight Frank Halakar. The landlord, BREOF Keystone, was represented by David Moore of Cassidy Turley.
-Jet’s Pizza leased 2,100 square feet at Colby Shoppes, 954 N. State Road 135, Greenwood. The tenant was represented by Lynn S. Fischer of Fischer & Associates Inc. The landlord, KLC Realty, was represented by Colliers International.
-Dr. Jay Hollander, DDS, PC, renewed its lease for 1,900 square feet at 1255 W. 86th St. The tenant was represented by Debbie Shumate Johnson of Alliance Commercial Real Estate. The landlord, Prime Property Investors Fund VIII, was represented by Fred Frisch of Prime Property Investors.
-Flourish Yoga LLC leased 1,866 square feet of retail space in Fall Creek Harbour Shoppes, 10138 Brooks School Road, Fishers. The tenant and landlord, FCH Associates LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
-Massey Martial Arts Academy LLC leased 1,585 square feet of retail space in Fall Creek Harbour Shoppes, 10114 Brooks School Road, Fishers. The tenant was represented by Rich Block of Paragon Realty LLC. The landlord, FCH Associates LLC, was represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
-Foster Contracting LLC leased 1,500 square feet of industrial 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
-Financial Equity Associates, a Merrillville-based private investor, recently bought the 202-unit Bayhead Village apartments near West 38th Street and Bayhead Drive. The price wasn’t disclosed. It was the buyer’s third acquisition here since 2007 and the second in 2010. The buyer and seller, Apartment Investment and Management Co., were represented by Tikijian Associates.
-Doheny Indianapolis Properties LLC bought a 19,168-square-foot industrial building at 4937 Fieldstone Drive, Whitestown. The price wasn’t disclosed. The buyer was represented by Steve Beals of Lee & Associates. The seller, Valenti Held Real Estate Group, was represented by Michael Weishaar of Cassidy Turley.
-Gridiron Real Estate LLC bought a 12,000-square-foot office building at 4435 Southport Crossings Way. The price wasn’t disclosed. The buyer was represented by Spero Pulos of Lee & Associates. The seller, P&M Property Management LLC, was represented by Keith Turnbill of Re/Max Select.
-Velox Express Inc. bought a 5,235-square-foot office building at 243 S. Madison Ave., Greenwood. The buyer and seller, Perfectionheir Properties LLC, were represented by Cathy Richards of Lee & Associates.
21st Century Fund pockets a payoff from sale
The state’s principal fund investing in high-tech companies has reached a milestone—for the first time recouping all the money it granted an emerging company, and then some.
FEIGENBAUM: Daniels experiences pushback even from Republicans
Assorted issues advanced by Republican Gov. Mitch Daniels are confronting political pushback—from his Republican legislative majority.
Smaller meetings key to convention center expansion
Large conventions typically get the most attention, but it’s the smaller meetings that will be critical to ensuring the expanded Indiana Convention Center is adequately occupied.
WTHR hires news director
Television news veteran Keith Connors will join WTHR-TV Channel 13 as news director Jan. 12, the local station announced Friday.
Simon target’s valuation ‘out of reach’ for Indianapolis firm
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
Real estate brokers scrambling for national partnerships
Top commercial real estate firms have been playing a name game of late, picking up or dropping national affiliations in a broad realignment of the city’s brokerage business.
Leave fund alone
In reading the editorial, “Let’s consider tapping bank fund,” in the Jan. 3 issue, several corrections are appropriate.
More unemployment claims filed nationally last week
The U.S. Labor Department says applications for unemployment aid rose by 18,000 to a seasonally adjusted 409,000 in the week ending Jan. 1. Applications fell to 391,000 in the previous week, the lowest point since July 2008.
Indiana took in more revenue than expected last month
The state reports it took in $137 million more last month than during December 2009, marking a 13 percent increase in revenue collections over last year.
