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|  Tuesday, May 13, 2008 |
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Hagerman turns 100; gets contract for IHS
The Hagerman Group got a nice birthday present recently when it was selected to serve as construction manager for the Indiana Historical Society's remodeling project. Founded in 1908, the fourth-generation, family-owned company turns 100 years old this year. Based in Indianapolis, Hagerman has another office in Fort Wayne. The key to longevity is the ability to adjust to changes in the economy and construction market, combined with a commitment to clients, company president Jeff Hagerman said. 
Leases/leasing contracts
- Moe & Johnny's Restaurant leased 4,200 square feet at 581-589 S. Dan Jones Road in Avon. The landlord, Schmadeke Group, was represented by Kathy Brown with KMB Realty Group. The tenant represented itself.
- Artrageous Pottery LLC leased 1,600 square feet at 1025 E. S.R. 44 in Shelbyville. The landlord, Shelbyville LLC, was represented by Kathy Brown with KMB Realty Group. The tenant represented itself. |  | | | |
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- Carpet One leased 4,800 square feet at 15887 Cumberland Road in Noblesville. Bart Jackson with Grubb and Ellis Harding Dahm & Co. represented the tenant. Urbahns Cos. represented itself as landlord.
- Radiance Tanning Co. leased 3,200 square feet at 15887 Cumberland Road in Noblesville. Urbahns Cos. represented itself as landlord. The tenant represented itself.
Investments/financials/stock sales
Kite Realty Group Trust reported $11.6 million in funds from operations in the first quarter. That compares with $10.9 million in the year-ago quarter. Kite's portfolio of 52 retail properties totaling 7.6 million square feet was 92.8-percent occupied at March 31, down from 94.8 percent at the end of 2007. The company had $185 million of projects in development during the quarter; those seven projects will span 1.3 million square feet. During the quarter, Kite acquired Rivers Edge Shopping Center in Indianapolis for $18.3 million. The center near 86th and Dean Road is 110,896 square feet and is 79-percent leased. In the quarter, Kite said it and California-based Coastal Partners LLC are buying Pan Am Plaza and two adjacent ice skating rinks, which they'll redevelop to capitalize on the growing convention center across the street from the site and the new Lucas Oil Stadium a block away.
Housing
The pace of mortgage loan activity increased 15.6 percent last week from the prior week, according to the Mortgage Bankers Association. Refinancings accounted for 47.1 percent, up 19.3 percent. Interest rates fell slightly, with 30-year mortgages averaging 5.91 percent, down from 6.01 percent, and 15-year loans averaging 5.49 percent, down from 5.53 percent.
People
Trudy Paige has joined ReMax United in Westfield as a sales associate.
Ina Rawlings has joined Polaris Real Estate as a buyer agent.
 Downtown restaurant buzz
Here's the latest downtown restaurant news:
- Brazilian steakhouse Fogo de Chão has opened in The Broadbent Building. And if a preview dinner was any indication, this place should do well. You get an extensive salad bar, hot side dishes and unlimited servings of 15 different types of meat served up by gaucho chefs, all for $38.50 for dinner. Save room for dessert and caipirinhas, tasty cocktails our server described as sweet mojitos.
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- BadaBoomz, downtown's former Buffalo Wild Wings, plans to switch again to a new concept. The restaurant is scheduled to reopen May 14 as J. Gumbo's. The Louisville-based chain has seven locations. It's a Cajun-Creole concept that looks a lot like Yats. (Read more at Dig-B)
- Elements has a new owner with plans to expand the concept into new markets. Greg Hardesty and Mike Sylvia sold the restaurant to Dennis Dunn, who apparently plans to keep everything the same. (More at FeedMeDrinkMe.)
Compiled by Tracy Donhardt, tdonhardt@ibj.com
Edited by Tom Harton
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