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Kosene sees reasons for optimism
in slow housing market
Kosene and Kosene has a buyer for the first of 105 condominiums that will make up the residential portion of its downtown mixed-use project, The Maxwell. Kosene began trying to sell Maxwell units less than a month ago. Overall, the company is optimistic about its six local residential projects because of sales activity in the last three months. 
Leases/leasing contracts
- John Wiley & Sons Inc. renewed its lease for 123,416 square feet at 10475 Crosspoint Boulevard in Fishers. Sam Smith of Resource Commercial Real Estate LLC represented the tenant, a publisher of textbooks and other professional books. The landlord, Lexington Properties LP, represented itself.
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|  | - Rolls-Royce Group has leased 44,820 square feet of office space at the former American Trans Air headquarters at Indianapolis International Airport. Tom Cooler of CB Richard Ellis represented the tenant. The landlord, Indianapolis Airport Authority, was represented by John Bales of Venture Real Estate Services LLC.
- John Robinson and Jeff Harris of Meridian Real Estate represented the landlord, Fidelity Meridian LLC, in three lease transactions at 11450 N. Meridian St. Sando Jones Aker Cosmetic Plastic Surgery PC, represented by Travis Tucker of Bremner-Duke Healthcare, leased 6,855 square feet; Fig., a liposurgery clinic represented by Mark Perlstein of Sitehawk and Mark Ladd of Lee & Associates, leased 4,500 square feet; and Stockyards Bank and Trust, represented by John Bales of Venture Real Estate Services LLC, leased 5,521 square feet.
- Marteck has leased 5,597 square feet 8435 Georgetown Road. Matt Jackson with Grubb and Ellis Harding Dahm and Co. represented the tenant. The landlord, The New Tower Trust Co. Multi Employer Trust, was represented by Todd Vannatta and Bart Book of Colliers Turley Martin Tucker.
- Integrity Construction leased 3,000 square feet at 8459 Castlewood Drive. Ed Troha with CB Richard Ellis represented the tenant. Matt Jackson and Spero Pulos of Grubb and Ellis Harding Dahm and Co. represented the landlord, KHK Investments LLC.
- Ameribanc has leased 2,996 square feet at 8604 Allisonville Road. Matt Jackson of Grubb and Ellis Harding Dahm and Co. represented the tenant. The landlord, Castle Creek II Limited Partnership, was represented by Gus Sevastianos of New Boston/Citimark.
Housing
- The number of home sold in central Indiana fell 18.5 percent in August over the same month last year, according to the Metropolitan Indianapolis Board of Realtors. Just over 2,600 homes sold last month, compared with 3,201 in August 2006. Pended sales fell 17.4 percent, to 2,524 units, from a year ago. New listings also fell, declining 5.6 percent, to 5,159 homes. Year to date, sales in the 13 central Indiana counties are down 8.1 percent.
- Nationally, housing starts fell 2.6 percent in August to an annual rate of 1.33 million homes, a 12-year low, according the U.S. Commerce Department. Construction of single-family homes in August was at the lowest point since March 1993. Permits for new construction, a signal of where the market is heading, fell 5.9 percent, to 1.31 million units.
- Freddie Mac said interest rates on 30-year mortgage loans rose slightly to 6.34 percent last week, from 6.31 percent in the prior week.
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| People
- Randall Lybarger has joined Weichert Realtors Hometown Real Estate as a real estate agent.
 - Resource Commercial Real Estate LLC has hired the following: Tim Murray, senior advisor; Ryan Conrad, advisor; Robyn Smart, advisor; and Jon Shuel, advisor.
- Jodie Schurtter has joined Bose McKinney and Evans LLP as an attorney in the law firm's real estate group.
Foot Locker taking Flagstar space
Foot Locker has filed plans to open a 3,300-square-foot store at the corner of Meridian and Washington streets downtown. The space currently is home to Flagstar Bank, which plans to move to the former Bearno's space a few blocks away. Several restaurants,  including Panera, Chipotle, McAlister's and McDonald's, had considered the high-visibility space in the building owned by local businessman John Goodman. The store would be the first downtown for New York-based Foot Locker Inc., which lost a bidding war with Indianapolis-based rival Finish Line to buy Genesco Inc. Finish Line now is trying to wiggle out of the $1.5-billion deal. Foot Locker already has stores at several area malls.
Read the item above and more real estate conversation starters at Property Lines, IBJ's real estate blog. You can link to the blog, which is hosted by real estate beat reporter Cory Schouten, at www.ibj.com.
Edited by Tracy Donhardt
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Tuesday, September 25, 2007 
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