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Company news

January 24, 2014

Eli Lilly and Co. is reportedly willing to pay as much as $3.7 billion to acquire a Massachusetts-based biotech company with a troubled leukemia drug, according to the U.K. newspaper The Mail. The paper claims that Indianapolis-based Lilly is the leading suitor for Ariad Pharmaceuticals Inc., along with U.K.-based GlaxoSmithKline plc and Ireland-based Shire PLC. All three firms made “friendly approaches” to Ariad, according to The Mail, and are willing to pay up to $20 per share. Ariad currently has 185.7 million shares outstanding, meaning such a purchase price would total $3.7 billion. The Mail is not a regular source of financial news, and its article bases its report on “whispers heard across the Pond” by “dealers.” Lilly spokesman Mark Taylor declined to comment on the rumors.

Hill-Rom Holdings Inc. said it will eliminate about 350 jobs over the next two years as a cost-saving move after the maker of hospital equipment saw profit grow slower than expected. Batesville-based Hill-Rom said 200 of the cuts will occur in the United States, with the balance occurring in Europe. Because the cuts will be made, in part, via a voluntary retirement program, Hill-Rom said it does not yet know how many cuts will occur in Indiana. The U.S. portion of the cuts are scheduled to be complete by the end of March. The European job cuts will play out over the next two years. The cuts, which represent about 5 percent of Hill-Rom’s 6,800 workers, will save the company $30 million per year, boosting profit by about 35 cents per share. Over the past four years, Hill-Rom has already eliminated about 1,000 jobs. “Economic uncertainty for our customers continues to impact the timing and the level of capital spending for our key product categories. The weak order rates in the last two quarters and the volatility over the past year reflect the challenges we continue to experience in our core market,” Hill-Rom CEO John Greisch told investors last week. Hill-Rom reported earnings per share of 22 cents in the three months ended Dec. 31, down 44 percent from the same quarter of 2012. Revenue fell 8 percent from the previous year, to $393 million.

The Indiana Senate passed a bill Thursday that would halt construction on nursing homes. Senate Bill 173 would also prohibit additional comprehensive care beds at existing facilities, according to the StatehouseFile.com, but continuing care retirement homes and assisted living would be exempt from the construction moratorium. “Building new facilities will add more unneeded beds at a time when utilization of skilled nursing facilities is decreasing,” said Sen. Patricia Miller, R-Indianapolis, who authored the bill. The bill now moves to the House for consideration.

The Indiana Medical Licensing Board suspended the license of Dr. Frank Campbell, an Anderson physician linked to drug-related deaths of 31 people. The Herald Bulletin reported the board also fined Campbell $500 on each of the six counts of violating physician regulations filed by state authorities. Campbell can seek reinstatement in a year. Campbell was medical director of the Madison County Community Health Center until the Drug Enforcement Administration questioned him last year over allowing two physician assistants to prescribe controlled substances using prescriptions he pre-signed. Campbell said he trusted the assistants and pre-signed prescriptions for expediency. An Indiana Medicaid Fraud Control Unit investigator submitted a court affidavit saying 31 of Campbell's patients died drug-related deaths since January 2009.

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People

January 24, 2014

Jim Terwilliger, president of Indiana University Health’s Methodist and University hospitals, will step down March 1. He had led IU Health’s two flagship hospitals since July 2012, when longtime executive Sam Odle retired. Dennis Murphy, whom IU Health hired to fill Odle's other job of chief operating officer, decided to replace Terwilliger. Dr. Jeff Sperring, CEO of IU Health’s Riley Hospital for Children, will serve as interim president of Methodist and University hospitals, while IU Health conducts a search for a permanent replacement.

Indianapolis-based WellPoint Inc. named Amy Cheslock vice president of payment innovation for provider engagement and contracting within the company’s commercial and specialty business division. She previously was vice president of provider engagement and contracting for WellPoint’s central region markets and enterprise cost-of-care initiatives. Cheslock succeeds Jill Rubin Hummel who, last month, was named president of WellPoint’s affiliated health plan in Connecticut.

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Sales/acquisitions

January 21, 2014
-Ninety Nine 90 LLC bought 1.06 acres in Brookville Crossing, 7855 Brookville Road. The buyer was represented by Wayne O'Hara of Sitehawk Retail Real Estate. The seller, Brookville Crossing LLC, was represented by Shawn Deitch of Kaiser Land Co.

-Westridge Investments LLC bought a 38,448-square-foot, two-building office park at 6781-6845 E. U.S. 36, Avon. The buyer was represented by Tom Osborne and Kim Hartman of Colliers International. The seller, Resource Property Management LLC, as receiver, was represented by Brian F. Knapp and Janice Paine of Colliers International.

-Sunbeam Development Corp. bought a 3,500-square-foot retail building at 9598 Allisonville Road. The sellers, Russell C. Beckwith and Vivian L. Beckwith, were represented by Paul Dick and Kevin Dick of Colliers International. The buyer represented itself.

-Islamic School of Plainfield bought a 7,500-square-foot former day care facility at 2183 Stanley Road, Plainfield. The seller, Stanley Road Investors LLC, was represented by Brett Burch of Valenti Real Estate Services Inc. The buyer represented itself.

-Watermark Residential bought a 19-acre site on the south side of Whitestown Parkway just east of County Road 700 East in Whitestown. The seller, Diversified Property Group LLC, was represented by Brett Burch of Valenti Real Estate Services Inc. The buyer represented itself.
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Leases/leasing contracts

January 21, 2014
-Vox Lumen subleased 117,0000 square feet at 11899 Exit 5 Parkway, Fishers. The tenant was represented by Tom Ferguson and Pete Alveal of Premiere Commercial Real Estate. The sublandlord, Diamond Foods, was represented by John Hanley and Terry Busch of CBRE.

-Facilities Solutions Group leased 10,721 square feet at 9715 Kincaid Drive, Fishers. The tenant was represented by Cam Kucic and Ryan Kelly of Summit Realty Group. The landlord, Meritex Enterprises Inc., was represented by Brian Buschuk of Jones Lang LaSalle .

-Countyline Collision LLC leased 6,240 square feet of industrial space at 1515 Hancel Parkway, Mooresville. The landlord, D.A. Green LLC, was represented by Patrick Lindley and Grant Lindley of Cassidy Turley. The tenant represented itself.

-Midwest Fertilizer Corp. leased 5,409 square feet of office space at 101 W. Ohio St. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, West Ohio II LLC, was represented by Renae Breitbach of Amerimar.

-Blake Ruff Personal Training, DBA Crossfit Dash, leased 5,085 square feet at 3250B W. 86th St. The tenant was represented by Jack Hogan of Jones Lang LaSalle. The landlord, Zahn LLC, was represented by Matt Waterman of Pegasus Investments.

-Blake Ruff Personal Training, DBA Crossfit Castlewood, leased 4,800 square feet at 8455 Castlewood Drive. The tenant was represented by Jack Hogan of Jones Lang LaSalle. The landlord, KHK LLC, was represented by Spero Pulos of Lee & Associates.

-Wings Etc. leased 4,105 square feet at Western Plaza, 135 Sheridan Road, Noblesville. The tenant was represented by Dean Almas of Sitehawk Retail Real Estate. The landlord, Western Plaza LLC, was represented by Ryan Menard of Thompson Thrift Development.

-Eagle and Fein PC leased 3,963 square feet of office space at 8500 Keystone Crossing. The tenant was represented by James Clark of Jones Lang LaSalle. The landlord, PWA Keystone Crossing LP, was represented by Mike Semler, Bennett Williams and Andrew Martin of Cassidy Turley.

-Riverside leased 3,600 square feet of industrial space at 5333-5367 W. 86th St. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.

-Mezzetta Construction Services Inc. leased 3,438 square feet of industrial space at 6911-7061 Corporate Circle. The landlord, GI Partners, was represented by Bryan Poynter and Russ Van Til of Cassidy Turley. The tenant represented itself.

-Dr. Diana Kozlowski DDS leased 3,329 square feet of office space at 526 State Road 32, Westfield. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, Alpha Tau Enterprises LLC., was represented by Craig Kaiser of Northern Commercial.

-The Heritage Group leased 3,329 square feet at Intech Eleven, 6625 Network Way. The tenant was represented by Mike Cook of CBRE. The landlord, Network Way Properties, was represented by Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.

-Jimmy John's Gourmet Sandwiches leased 1,500 square feet of retail space at 322 S. Lebanon St., Lebanon. The tenant was represented by Jeff Daniel of Valenti Real Estate Services Inc. The landlord, K&E Limited Partnership, represented itself.

-Maxx Electronic Cigarettes leased 1,410 square feet of retail space in Avon Commerce Crossing, 8185 E. US 36, Avon. The tenant and landlord, Commerce Crossing LLC, were represented by Brett Burch of Valenti Real Estate Services Inc.
 
-The Joint chiropractic clinic leased 1,326 square feet at Rangeline Crossing, 116th Street and Rangeline Road, Carmel. The tenant was represented by Kyle Hughes of Veritas Realty. The landlord, KRG Centre LLC, was represented by Andrew Hasbrook of Kite Realty Group.

-Universal Protection Services of America Inc. leased 1,208 square feet of office space at 201 South Capitol Ave. The tenant was represented Mike Napariu of REI Real Estate Services. The landlord, Pan Am SCE I LLC, was represented by Tom Ott of Coastal Partners.
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Residential

January 21, 2014
The average rate for 30-year mortgages fell from 4.64 percent to 4.57 percent in the week ended Jan. 16, according to Bankrate.com. The rate for 15-year mortgages fell from 3.69 percent to 3.62 percent.
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Construction

January 21, 2014
-Charles C. Brandt Construction has completed a 2,500-square-foot remodel of the Educated Sandwich Shop at 150 W. Market St.

-Charles C. Brandt Construction has completed a 6,000-square-foot remodel of the offices of USA Gymnastics at 132 E. Washington St.

-Charles C. Brandt Construction has completed a 8,000-square-foot remodel of the offices of USA Track & Field at 132 E. Washington St.
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Company news

January 20, 2014

The folks at Lumosity, the San Francisco company that tries to improve human brain cognition, must have cheered when they saw this study partly led by a researcher at the Indiana University School of Medicine. The study, published this month by the Journal of the American Geriatrics Society, found that seniors who underwent exercises meant to boost mental sharpness still showed benefits up to a decade later. The study involved 2,800 seniors living independently in Indianapolis and six other regions. Lumosity, which makes a smartphone app to exercise your brain, is one of numerous programs, both online and offline, that are meant to boost mental sharpness in older adults.

Over-the-counter medications for common colds and allergies, such as DayQuil, could become harder to obtain under an Indiana House bill introduced this month. According to the Associated Press, HB-1106, authored by Rep. Rebecca Kubacki, R-Syracuse, would make medication containing ephedrine and pseudoephedrine a schedule III drug, which means it couldn’t be purchased without a doctor’s visit and prescription. An existing law puts a limit on how much ephedrine and pseudoephedrine can be purchased in a day, month or year. But, Kubacki said she doesn’t think the law goes far enough. However, Dr. Richard Feldman, chairman of legislation for the Indiana Academy of Family Physicians, said the medical community prefers the existing legislation to Kubacki’s new bill. “We think it’s adequate; we don’t want any more restrictions,” Feldman said. He added, “The last thing that the doctors I talked to want is to be overrun with patient visits for an over-the-counter drug that should remain over-the-counter, rather than seeing patients who deserve their attention.”

WellPoint Inc.’s core operations turned out more profit than the company predicted, the Indianapolis-based health insurer disclosed in a Jan. 13 securities filing. WellPoint raised its 2013 profit forecast to $8.52 per share, up 12 cents from a previous forecast of $8.40 per share. The company has yet to close its books on 2013. It will reveal its actual 2013 financial results Jan. 29. The new forecast roughly matches what Wall Street analysts were expecting. A survey of 23 analysts by Thomson Reuters found an average 2013 profit forecast of $8.51 per share, even before the disclosure. Both WellPoint’s and analyst forecasts exclude a variety of special charges, such as investment gains, the early extinguishment of debt, a favorable tax ruling and a charge related to WellPoint’s sale of its 1-800-Contacts subsidiary. When those items are included, WellPoint’s 2013 profit would total $8.20 per share, according to Monday’s disclosure. In October, WellPoint predicted full-year profit would total $8.45 per share. But that was before the 54-cent-per-share charge for the 1-800-Contacts sale was announced.

In late December 2013, the Health Foundation of Greater Indianapolis gave $440,376 to three organizations that will help Hoosiers navigate the Obamacare health insurance exchange. A grant of $270,000 was awarded to Indiana 2-1-1, a call-in service for obtaining information about social assistance, to maintain detailed information about the exchange navigators and application counselors that have been approved by the government to help exchange customers. A sample conducted in May 2013 showed that 38 percent of callers to Indiana 2-1-1 have at least one person in the household without health insurance. The Indiana Primary Health Care Association will receive $70,376 to train 26 certified Navigators to provide continuing education to at least 126 state-certified Navigators in state-funded and federally qualified health centers. Because of the cost of the federal certification process, many state-funded health centers, especially in rural areas, have been unable to certify their enrollment staff. Also, $100,000 was granted to Eskenazi Health to extend its media and outreach campaign through the end of the first open enrollment period in March 2014. The campaign promotes Eskenazi Health’s toll-free Navigator Call Center (1-855-202-1053), which answers consumer questions and provides assistance in obtaining health insurance through the Obamacare exchanges.

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People

January 20, 2014

Dr. Anthony Sorkin, an orthopedic trauma surgeon, has been named system medical director of Indiana University Health Orthopedics and Sports Medicine. Sorkin joined IU Health Physicians a year ago to treat patients with traumatic injuries at IU Health Methodist Hospital. Prior to IU Health, Sorkin served as director of orthopedic traumatology for Rockford Orthopedics in Illinois. Sorkin earned his bachelor’s degree in biology from the University of Miami and his medical degree from the University of Maryland School of Medicine.

Dr. Sachin Mehta, a rehabilitation and physical medicine doctor, has joined Franciscan Physician Network Rehabilitation Specialists in Indianapolis. He most recently served as medical director of the brain injury and rehabilitation programs at Marianjoy Medical Group, Wheaton, Ill. He received a bachelor’s degree in biology at Lehigh University and a medical degree from the Indiana University School of Medicine.

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Sales/acquisitions

January 14, 2014
-Lauth Communities/Lauth Group Inc. bought the 208-unit Bluestone Apartments at 50 N. Blue Road, Greenfield. The buyer and seller, Paragus, were represented by Tikijian Associates.

-NKR Enterprises bought a 48,620-square-foot industrial property at 365 S. Post Road. The buyer was represented by Michael Weishaar of Cassidy Turley. The seller, Medallion Metals LLC, was represented by Fritz Kauffman of Cassidy Turley.

-KLC Realty LLC bought a 7,000-square-foot retail building at 9310 N. Michigan Road. The buyer was represented by Greg Smith of Colliers International. The seller, GABC Holdings Inc., was represented by Nate Smith of Colliers International.
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Leases/leasing contracts

January 14, 2014
-JD Byrider renewed and expanded its lease to 61,326 square feet at Hamilton Crossing I, 12722-12802 Hamilton Crossing, Carmel. The tenant was represented by Brian Askins of Summit Realty Group. The landlord, Duke Realty Corp., was represented by Duke's Traci Kapsalis.

-First Databank renewed its lease for 27,345 square feet in Four Parkwood, 500 E. 96th St. The tenant was represented by Tom Hadley of Summit Realty Group. The landlord, Duke Realty Corp., was represented by Duke's Traci Kapsalis.

-Cohen Garelick & Glazier Professional Corp. leased 12,268 square feet at 8888 Keystone Crossing.  The tenant was represented by Tim Hull of CBRE. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.   

-Community Health Networks Physical Therapy and Rehabilitation renewed its lease for 9,200 square feet at Hillsdale Business Park, Hillsdale Court and North Shadeland Avenue. The tenant was represented by Rob Lukemeyer of Baseline Commercial Real Estate. The landlord, Hillsdale Property Owner LLC, was represented by Brian Buschuk, Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.

-Messer Construction renewed its lease for 7,608 square feet at 6964 Hillsdale Court in the Hillsdale Business Park. The landlord, Hillsdale Property Owner LLC, was represented by Brian Buschuk, Kevin Gillihan and Jack Hogan of Jones Lang LaSalle. The tenant represented itself.

-Community Health Networks' Northeast Family Physicians renewed its lease for 7,038 square feet at 6910 Hillsdale Court in the Hillsdale Business Park. The tenant was represented by Rob Lukemeyer of Baseline Commercial Real Estate. The landlord, Hillsdale Property Owner LLC, was represented by Brian Buschuk, Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.

-Cornerstone Associates renewed two leases totaling 8,892 square feet at 6967 Hillsdale Court in the Hillsdale Business Park. The landlord, Hillsdale Property Owner LLC, was represented by Brian Buschuk, Kevin Gillihan and Jack Hogan of Jones Lang LaSalle. The tenant represented itself.

-Independent Colleges of Indiana Inc. leased 4,712 square feet of office space at 30 S. Meridian St. The tenant was represented by Timothy Norton of Summit Realty Group. The landlord, Kite Realty Group, was represented by Mike Semler and John Crisp of Cassidy Turley.

-Moisture Management Services Co. LLC leased 4,080 square feet of industrial space at 9855 Crosspoint Blvd. The tenant was represented by Paul Dick and Kevin Dick of Colliers International. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.

-The Dermatology Center of Indiana leased 3,200 square feet of retail space at 6705 S. State Road 334, Zionsville. The tenant was represented by Jim Mount of Hokanson Companies. The landlord, Duke Realty Corp., was represented by Jacque Haynes and John Byrne of Cassidy Turley.

-Reach For Youth Inc. leased 2,034 square feet at 435 E. Main St., Greenwood. The tenant was represented by Yumi Goodman of Colliers International. The landlord, Randy Faulkner & Associates Inc., was represented by Bruce Richardson of My Agent Real Estate Services.

-Insphere Insurance Solutions leased 1,698 square feet of office space at 3500 DePauw Blvd. The landlord, Sterling American Property, was represented by Dave Moore, Bennett Williams and Darrin Boyd of Cassidy Turley. The tenant represented itself.

-RPM Machinery LLC leased 1,413 square feet of office space at 8910 Purdue Road. The tenant was represented by Spud Dick and John Crisp of Cassidy Turley. The landlord, Zeller Realty Group, represented itself.
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Residential

January 14, 2014
The average rate for 30-year mortgages fell from 4.69 percent to 4.64 percent in the week ended Jan. 8, according to Bankrate.com. The rate for 15-year mortgages fell from 3.73 percent to 3.69 percent.
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Construction

January 14, 2014
-Capitol Construction has completed a 10,700-square-foot office build-out for Indiana Polyclinic at 201 W. Pennsylvania Parkway.

-Capitol Construction has completed a 4,900-square-foot office build-out for Watermark at 5975 Castle Creek Parkway.
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Company news

January 13, 2014

Positive results from a Phase 2 trial in patients convinced Indianapolis-based Eli Lilly and Co. to reacquire an experimental migraine medicine, which goes by the name LY2951742. Lilly aims to conduct a Phase 3 trial, the last stage of testing before it can submit the drug for market approval. The drug was licensed from Lilly in 2011 by Massachusetts-based Arteaus Therapeutics, a company formed at the same time by venture capital firms OrbiMed and Atlas Venture. Lilly did not disclose the financial terms of its deal with Arteaus. However, Lilly will record a fourth-quarter charge of $57.1 million to reflect the reacquisition costs and Lilly’s assumption of ongoing development expenses of the drug. The drug is one of nine experimental drugs Lilly has licensed to outside firms as a way to share the risk of research and development costs. Lilly calls the risk-sharing arrangement with venture capital firms its Capital Funds Portfolio. The migraine medicine is the first one Lilly has reacquired from a participating venture-backed company.

Eli Lilly and Co. needs new drugs to patch a larger-than-expected hole in its revenue. On Jan. 7, the Indianapolis-based drugmaker revised its 2014 revenue forecast. Instead of its longstanding prediction of $20 billion in revenue, Lilly now expects to bring in between $19.2 billion and $19.8 billion. Wall Street analysts expected $19.6 billion, according to 17 estimates compiled by Bloomberg News. Revenue is falling at Lilly after its U.S. patents on antidepressant Cymbalta expired in December. Cymbalta generated $4.99 billion in 2012, but analysts expect its sales to plummet to $1.43 billion this year, according to Bloomberg. Also in March, Lilly will lose patent protection on its osteoporosis drug Evista. Analysts expect Evista sales to drop to $498.6 million this year from nearly $1 billion annually before. Lilly expects its 2014 profit to range between $2.77 and $2.85 per share. Analysts anticipated $2.78.

WellPoint Inc. plans to unwind one of the deals Angela Braly made late in her troubled tenure as CEO of the Indianapolis-based health insurer. WellPoint agreed to sell online contact lens retailer 1-800-Contacts to Boston-based private equity firm Thomas H. Lee Partners LP. WellPoint will also sell Glasses.com, a subsidiary of 1-800-Contacts, to Milan-based Luxottica Group SpA. WellPoint’s new CEO, Joe Swedish, said he wants to focus on its core insurance business. “As we prepare for the coming changes to the health-care system, we are focused on our core growth opportunities across both our commercial and government business segments,” Swedish said in the statement. “Proceeds from this transaction will support our continued capital deployment strategies.” WellPoint bought 1-800 Contacts from private equity firm Fenway Partners in June 2012 for about $900 million. The purchase added to investor anger against Braly. She left the company two months later.

The Indiana Family and Social Services Administration announced Friday it will add 3,400 people to the Healthy Indiana Plan, a health insurance program for low-income Hoosiers. That’s the number of Hoosiers who had been among the 50,000 on the program’s waiting list who reapplied and were deemed eligible. But state officials said they expect 20,000 Hoosiers to apply for HIP by the end of this year. The program, which had been running at about 40,000 participants, will have its enrollment capped this year at 45,000. Gov. Mike Pence is negotiating with the Obama administration to use HIP to expand coverage to all Hoosiers with incomes up to 138 percent of the federal poverty limit. For now, HIP participants cannot have incomes above the federal poverty limit, which is $11,490 per adult or $23,550 for a family of four.

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People

January 13, 2014

Dr. Safi Shahda has joined Eskenazi Health in the medical oncology outpatient clinic. He received his medical degree from Damascus University, Damascus, Syria.
 
Dr. Kristin Hoffmann has joined Eskenazi Health in the dermatology clinic. She earned a bachelor’s degree in neuroscience from Wellesley College and a medical degree from the Yale University School of Medicine.

Dr. Rachel Carr, an OBGYN physician, has joined Community Physician Network in Indianapolis. She earned her medical degree at the Indiana University School of Medicine.

Dr. Ryan Grimm, a pediatrician, has joined Community Physician Network in Greenwood. He completed his medical degree at the IU School of Medicine.

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Sales/acquisitions

January 7, 2014
-Seabury Charter LLC bought 1.859 acres at 2295 N. Illinois St. The buyer was represented by R.J. Rudolph and Yumi Goodman of Colliers International. The seller, MMW Corp., was represented by Ross Reller of Colliers International.  

-M&D Noblesville LLC bought 2.01 acres of retail land at 16080 Prosperity Drive, Noblesville. The buyer was represented by Tom Osborne of Colliers International. The seller, Marsh Supermarkets Inc., was represented by Jeff Merritt of Colliers International.

-C-K Real Estate Investments bought a third of an acre in the Bridgewater Corporate Park at 4661 Lisborn Drive, Carmel. The site will house a 4,000-square-foot office building for the Crossen Kooi law firm. The buyer was represented by Pat Chandler of ReMax at Keystone Crossing. The seller, John McKenzie, represented himself.

-Insight Consulting bought a 15,395-square-foot building at 7830 Johnson Road. The buyer was represented by Jacqueline Haynes of Cassidy Turley. The seller, QAI, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
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Leases/leasing contracts

January 7, 2014
-Newegg leased 412,808 square feet at WorldConnect@Ameriplex, Building 1, 6161 Decatur Blvd. The tenant was represented by Mark Writt and Scott Belfer of CBRE. The landlord, Industrial Developments International, was represented by Andrew Morris, Jeremy Woods and Andrea Hopper of Summit Realty Group and Doug Armbruster and Jeremy Kraus of IDI.

-Eagle Adjusting Services Inc. leased 12,588 square feet of industrial space at 14701 Cumberland Road, Noblesville. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Taylored Systems, represented itself.

-R.S. Hughes leased 8,940 square feet of industrial space at 5058-5148 W. 79th St. The tenant was represented by Ken Boyd of Jackson & Cooksey. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.

-National Programming Service LLC leased 8,577 square feet at 7320 E. 86th St. The tenant was represented by Yumi Goodman of Colliers International. The landlord, East 86th Street Partners LLC, represented itself.

-Trophy Technologies LLC leased 8,568 square feet of industrial space at 8857 Bash St. The landlord, Westminster Funds, was represented by Todd Vannatta of Cassidy Turley. The tenant represented itself.

-Anixter Inc. leased 6,000 square feet of industrial space at 6911-7061 Corporate Circle. The tenant was represented by Jeffrey Harris of NAI Meridian Real Estate Services. The landlord, GI Partners, was represented by Russ Van Til and Bryan Poynter of Cassidy Turley.

-Scotlynn USA Division Inc. leased 4,813 square feet of office space at 8335 Keystone Crossing. The tenant was represented by Spero Pulos of Lee & Associates. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin and Bennett Williams of Cassidy Turley.

-Rio Grande Fresh Mexican Grill leased 4,800 square feet of retail space at Hague Road Center, 20805 Hague Road, Noblesville. The landlord, Harshman & Hays Three LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

-In Site Art Consulting Group Inc. leased 3,163 square feet of office space at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson Investment Group. The landlord, Henderson Global Investors North America Inc., was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Skywave Technology Partners leased 3,000 square feet at 4000 Georgetown Road Shopping Center. The tenant was represented by Sharon Thompson of KW Commercial and Keller Williams Indy Metro North. The landlord, Stanford Property Management LLC, represented itself.

-Znachko Associates Inc. leased 2,500 square feet of office space at 5875 Castle Creek Parkway. The tenant was represented Mike Napariu of REI Real Estate Services. The landlord, LSREF2 OREO, was represented by Matt Langfeldt of Summitt Realty Group.

-Elite Management Services LLC leased 2,446 square feet in the Stock Yards Bank Building, 136 E. Market St. The landlord, Crown Stock Yards LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

-Gilday & Associates PC leased 2,223 square feet at One Indiana Square. The tenant was represented by Yumi Goodman of Colliers International. The landlord, One Indiana Square Associates LLC, was represented by Ralph Balber of Newmark Knight Frank Halakar.

-Arch Eyebrows leased 1,200 square feet at Speedway Plaza, 6137 Crawfordsville Road.  The landlord, Plaza at Speedway LLC, was represented by Scott Gray and Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.

-Health Spot leased 1,141 square feet at 9778 E. 116th St., Fishers. The tenant was represented by Kyle Hughes of Veritas Realty LLC. The landlord, Sunbeam Development Corp., was represented by Mark Perlstein of Sitehawk Retail Real Estate.

-OPYS Physician Services LLC leased 875 square feet in the Barrister Building, 155 E. Market St. The landlord, Crown Barrister LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.
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Residential

January 7, 2014
The average rate for 30-year mortgages rose to 4.69 percent from 4.63 percent in the week ended Jan. 1, according to Bankrate.com. The rate for 15-year mortgages rose to 3.73 percent from 3.70 percent.
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Construction

January 7, 2014
-Larry Dunkerly/Masterpiece Homes has started construction of a 3,500-square-foot periodontia facility for Dr. Daniel Gomes at 8235 Country Village Drive.

-Capitol Construction has completed a 9,800-square-foot remodel and expansion for Burgess and Niple at 251 N. Illinois.
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People

January 3, 2014

Dr. Samantha Bouchie, an internist, has joined Community Physician Network in Noblesville. She earned her medical degree at Indiana University School of Medicine.

Dr. Rehan Haque, a pulmonary and critical care physician, has joined Community Physician Network in Indianapolis. He previously worked as an affiliate professor of medicine at the University of Miami Miller School of Medicine in Florida. He earned a medical degree from Aga Khan University School of Medicine in Pakistan.

Dr. Rachel Morton, a pediatric hospitalist, has joined Community Physician Network, practicing at Community North Hospital. She earned a medical degree from the New York Medical College.

Dr. Lauren Rau, a pediatric hospitalist, has joined Community Physician Network, practicing at Community North Hospital. She earned her medical degree at IU School of Medicine.

Dr. Carla Weaver, a pediatric hospitalist, has joined Community Physician Network, practicing at Community Hospital East. She previously worked at St. Vincent Health as a newborn hospitalist for 10 years. She did her medical training at the IU School of Medicine.

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Company news

January 3, 2014

Encore Health Network, a network of health care providers owned by Community Health Network, Indiana University Health and Deaconess Health, has added St. Vincent Health to its fold. The Indianapolis-based network will offer discounted access to St. Vincent doctors and hospitals in the Anderson, Carmel, Fishers, Indianapolis and Kokomo markets. Insurance companies, third-party administrators and employers contract with Encore and its Encircle network products to obtain discounts on medical services.

Indiana University Health and UnitedHealthcare entered the new year without a contract. That would normally mean UnitedHealthcare’s customers would pay higher prices at IU Health’s hospitals and physician offices. But IU Health has decided to still give patients the same "in network" co-pays and deductibles that UnitedHealthcare had negotiated under the expiring contracts, keeping patients’ costs the same until a new deal is reached. IU Health said in a press release it would apply the "in network" discounts only to the patient portions of its bills, not to the portions paid by UnitedHealthcare. The Minnesota-based health insurer first notified its customers on Dec. 2 that its contracts with IU Health could expire at year end. Such contracts typically shave 30 percent or more off the list prices of a hospital system’s services. The contract dispute could affect the roughly 400,000 Hoosiers that have employer-based or individually purchased insurance with UnitedHealthcare. That represents about 12 percent of the Indiana commercial market, according to data from Tennessee-based market research firm HealthLeaders-InterStudy. IU Health operates 20 hospitals and employs nearly 1,500 physicians around Indiana.

The U.S. Supreme Court has temporarily blocked an Obamacare requirement that religiously affiliated employers provide health insurance that includes birth control. The decision gives temporarily relief to Catholic plaintiffs that said Obamacare’s requirement to provide contraception coverage violated their religious freedom. In a related case, Indiana-based Franciscan Alliance and other Catholic organizations won a temporary injunction from a federal judge in Indiana, to allow the Supreme Court challenge to play out before Franciscan would be required to provide contraception coverage to its workers via its health insurance plan. "We simply asked that the government not impose its values and policies on plaintiffs, in direct violation of our religious beliefs," said Kevin Leahy, CEO of Franciscan Alliance, which operates three hospitals in the Indianapolis area. The Affordable Care Act required all health insurers to cover contraception at no cost to its health plan members and required all employers with 50 or more workers to provide health insurance to their workers. Both provisions were set to take effect Jan. 1.

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Company news

December 30, 2013

Bioanalytical Systems Inc. posted its second straight profitable quarter, and swung to a full-year profit, according to an announcement released Dec. 26. The West Lafayette-based provider of pharmaceutical testing services and equipment continues to try to turn around after a major restructuring in 2012. It earned $252,000 in its fiscal fourth quarter, which ended Sept. 30, compared with a loss the year before of nearly $2.7 million, much of which was due to restructuring charges. For the full fiscal year, Bioanalytical earned $789,000, compared with a loss of $6.3 million during the previous fiscal year. Revenue for the fiscal year fell nearly 22 percent, after the 2012 closure of testing facilities in Oregon and the United Kingdom. That helped reduce Bioanalytical’s expenses by one-third, boost its gross margin by nearly 50 percent, and turn its cash flow from operations from a negative $200,000 last year to $1.5 million in fiscal 2013.

The McDonald's restaurant inside Riley Hospital for Children will close this week, according to the Associated Press. Officials at Indiana University Health, which operates Riley, said they want to promote healthier foods than burgers, fries and sodas. The Physicians Committee for Responsible Medicine issued a report in 2012, naming Riley one of the five worst children's hospitals for its food environment, with the presence of the McDonald’s listed as one of the biggest factors for the ranking. That report came two months after IU Health had joined the Partnership for a Healthier America, a group working to reduce childhood obesity. Since joining the partnership, IU Health has banned sugary drinks at its in-house eateries and will soon ban deep-fat fryers, although the partnership did not require those bans to extend to the independently operated McDonald’s. Next month, Riley will open a cafe in the lobby of the Simon Family Tower that will remain open 20 hours a day and offer many options, including those that appeal to children.

Indianapolis-based Hoosier Oncology Group has received a $1.9 million gift to help conduct clinical trials of new cancer treatments. The group, founded in 1984, said it would use the money in part to expand its capacity to store blood and tissue samples for later study. The gift came from the estate of Margaret M. Weeks, who was a schoolteacher in the Indianapolis Public Schools. She died in February at the age of 94. Since its founding, Hoosier Oncology Group has initiated more than 150 clinical trials involving more than 3,000 patients. The group was spun out from the Indianapolis-based Walther Cancer Institute in 2007.

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People

December 30, 2013

Dr. Ken Maynard, a family practitioner, has joined the Hendricks Regional Health Medical Group in Brownsburg. He has a bachelor’s from Butler University. He did his medical training at the Chicago College of Osteopathic Medicine.

Dr. Matthew Kuhar has joined Eskenazi Health in the pathology department. He has a bachelor’s in biology from Gannon University in Erie, Pa., and a medical degree from Drexel University in Philadelphia.

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Sales/acquisitions

December 24, 2013
-K&N Investments bought 2.4 acres at the corner of U.S. 31 and Greenwood Trace Drive and 1.42 acres at the corner of U.S. 31 and Genesis Drive, Whiteland. The buyer was represented by Lorne Kelker of Vital Equity Realty. The seller, Fifth Third Bank, was represented by Sharon Thompson of KW Commercial and Keller Williams Indy Metro North.

-JT Thomas Enterprises LLC bought a 3,770-square-foot office building at 16050 Allisonville Road, Noblesville.  The seller, VCA Real Property Acquisition Corp., was represented by Paul Dick and Kevin Dick of Colliers International. The buyer represented itself.
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Residential

December 24, 2013
The average rate for 30-year mortgages rose to 4.58 percent from 4.55 percent in the week ended Dec. 18, according to Bankrate.com. The rate for 15-year mortgages rose to 3.63 percent from 3.60 percent.
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Leases/leasing contracts

December 24, 2013
-Beverly Healthcare LLC leased 32,826 square feet of industrial space at 8460 Bearing Drive. The tenant was represented by Nick Arterburn of CBRE. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.

-Goodwill leased 13,000 square feet of retail space at 5720 W. Washington St. The tenant was represented by Bill French of Cassidy Turley. The landlord, Continental Realty and Development LLC, represented itself.

-RTM Consultants  Inc. leased 6,983 square feet of office space at 6640 Parkdale Place. The tenant was represented by Mike Napariu of REI Real Estate Services.  The landlord, Healthcare Trust of America, was represented by Andrew Nordhoff and Julia Schnepper of Healthcare Trust.

-American Academy of Osteopathy expanded its lease to 5,899 square feet of office space in The Pyramids, 3500 DePauw Blvd. The tenant was represented by Steve Beals and Richard R. King III of Lee & Associates. The landlord, CP Pyramids Associates LP, was represented by Bennett Williams and David Moore of Cassidy Turley.    

-Pure Sleep Mattress leased 4,000 square feet at Gateway Shops, 106th Street and Michigan Road, Carmel. The tenant was represented by Jamison Downs and Kyle Hughes of Veritas Realty. The landlord, Sandor Development, was represented by Sandor's Drew Kelly.

-Long’s Mattress leased 2,975 square feet of retail space at Greenwood Plaza, 1280 U.S. 31 North, Greenwood. The tenant was represented by Cindy Hoskinson of Lee & Associates. The landlord, Jones Family Investments LLC, was represented by Bridget Clanton of Quadrant Properties.

-Zoey’s Pizzeria leased 2,820 square feet at Meridian Parke Shoppes, 3115 Meridian Parke Lane, Greenwood. The landlord, Sandor Development, was represented by Sandor's Jeff Roberts. The tenant represented itself.

-ImmediaDent leased 2,419 square feet at College Park Shoppes, 8403 W. 86th St. The tenant was represented by John Byrne of Cassidy Turley. The landlord, Sandor Development, was represented by Sandor's Drew Kelly.

-Champion Consultants leased 2,035 square feet at Auburn Woods Park, 9650 Commerce Drive, Carmel. The tenant was represented by Brian Goodwin of Metro PCS. The landlord, Sandor Development, was represented by Lawrence Morrissey of Corporate Commercial Group.

-Fishers Fish & Chicken leased 1,710 square feet of retail space in Greenbriar Shopping Center, 1357 W. 86th St. The landlord, Prime Property Investors Fund VIII LP, was represented by Bart Jackson of Lee & Associates. The tenant represented itself.

-Studio YOU leased 1,500 square feet of retail space in Village Commons I, 862 S. State Road 135, Greenwood. The tenant was represented by Nick George of Indianapolis Homes Realty. The landlord, VC-1 LLC, was represented by Scot Courtney and Bart Jackson of Lee & Associates.

-Royal Phones leased 1,461 square feet at College Park Shoppes, 8403 W. 86th St. The landlord, Sandor Development, was represented by Sandor's Drew Kelly. The tenant represented itself.

-Zully Castellanos Men’s Barbershop leased 1,200 square feet at Indy Pavilions, 7035 E. 96th St. The landlord, Sandor Development, was represented by Sandor's Drew Kelly. The tenant represented itself.

-Edward Jones leased 1,092 square feet of office space at 1160 N. State Road 135, Greenwood. The tenant was represented by David Ellis of Fenway Real Estate Services. The landlord, VisionWare LLC, was represented by Cathy Richards of Lee & Associates.

-Signature Systems leased 433 square feet at Auburn Woods Park, 9640 Commerce Drive, Carmel. The landlord, Sandor Development, was represented by Lawrence Morrisey of Corporate Commercial Group. The tenant represented itself.
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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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