newsletter.story

Sales/acquisitions

September 16, 2014
-Taco Bell of America bought Lot 3 in Plainfield Park, 5030 Cambridge Way, Plainfield. The buyer was represented by John Byrne of Radar Commercial Real Estate. The seller, 267 Partners LLC, was represented by Jeff Hubley of Midland Atlantic Properties.

-Zevacor Molecular bought a 71,000-square-foot building at 14395 Bergen Blvd., Noblesville. The buyer was represented by Drew Augustin, Bryan Augustin and Brooke Sipe of Alliance Commercial Group. The seller, Westcore Delta LLC, was represented by Michael Weishaar and Luke Wessel of Cassidy Turley.

-Pharmakon Pharmaceuticals Inc. bought seven acres at Saxony Corp. Campus (Parcel Y), Noblesville. The buyer was represented by Brian Askins and Matt Waggoner of Cushman & Wakefield/Summit. The seller, Interstate Holdings LLC, was represented by Sean McKinnies of Republic Development.

-Oracle One LLC bought an 11,700-square-foot building at 5450 Rock Hampton Court. The seller, Tolson & Associates LLC, was represented by Steve Schaub of Cushman & Wakefield /Summit. The buyer represented itself.
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Leases/leasing contracts

September 16, 2014
-ACS Human Services LLC leased 40,204 square feet of office space at 4450 Victory Lane. The tenant was represented by Yumi Goodman of Colliers International. The landlord, Midway Corp., was represented by Russ Van Til and Jeff Henry of Cassidy Turley.

-Southern Wine & Spirits of America Inc. leased 25,201 square feet at 8888 Keystone Crossing.  The tenant was represented by Mike Semler of Cassidy Turley. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL.      
 
-The Indiana Annual Conference of the United Methodist Church Inc. leased 12,117 square feet at Meridian Corporate Plaza Two, 301 Pennsylvania Parkway, Carmel. The tenant was represented by Jon Owens of Cassidy Turley. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL.      

-Crown Castle USA Inc. leased 9,363 square feet of office space at 9045 River Road. The tenant was represented by Kimberly Estes Hartman and Tom Osborne of Colliers International. The landlord, Duke Realty Limited Partnership, was represented by Adam Seger of Duke Realty.

-Sitehawk Retail Real Estate leased 6,173 square feet of office space at 8500 Keystone Crossing. The landlord, PWA Keystone Crossing LP, was represented by Andrew Martin and Bennett Williams of Cassidy Turley. The tenant represented itself.

-Comprehensive Retirement Solutions LLC leased 4,865 square feet of office space at One Penn Mark, 11595 N. Meridian St., Carmel. The tenant was represented by Kevin Dick and Paul Dick of Colliers International. The landlord, TNHYIF Reiv Sierra LLC, was represented by Rick Trimpe and John Vandenbark of CBRE.
 
-rue21 renewed its lease for 4,685 square feet of retail space at 540-630 W. Northfield Drive, Brownsburg. The landlord, ATC Realty One LLC, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.

-Covideo leased 3,838 square feet on the third floor of 6235 N. Guilford Ave. The tenant was represented by Kelly Williams of Re/Max Ability Plus. The landlord, Monon Housing Partners, was represented by Jason S. Challand of Echelon Realty Advisors.

-Advanced Solutions Inc. leased 3,798 square feet at 8900 Keystone Crossing. The tenant was represented by Spud Dick of Cassidy Turley. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL.        

-St. Louis Group LLC leased 3,730 square feet at 8888 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL. The tenant represented itself.
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Rates

September 16, 2014
The average rate for 30-year mortgages rose from 4.24 percent to 4.27 percent in the week ended Sept. 11, according to Bankrate.com. The rate for 15-year mortgages rose from 3.37 percent to 3.42 percent.
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People

September 16, 2014
Ross Goyer has joined Cornerstone Companies Inc. as vice president of development and property management.
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Construction

September 16, 2014
-Capitol Construction has completed a 2,500-square-foot office build-out for Fully Armored at 755 W. Carmel Drive, Suite 150, Carmel.

-Capitol Construction has completed a 1,500-square-foot office build-out for Grand Financial at 1155 N. Meridian St., Carmel.

-Capitol Construction has completed a 4,000-square-foot office build-out for KE Labs at 3500 Depauw Blvd., Suite 1080.

-Kort Builders has completed a 7,800-square-foot build-out for Case Remodeling at 99 E. Carmel Drive, Carmel.

-Kort Builders has completed a 2,200-square-foot build-out for H2H Salon at Hamilton Town Center, 13185 Harrell Parkway, Suite 200, Noblesville.
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People

September 15, 2014

Dr. Ingrid Mason, an internist, has been named vice chairwoman of the Office of the Chief Medical Officer, which oversees medical practice and quality at 22 hospitals around the state. She was previously president of the medical staff at St. Vincent Indianapolis Hospital. Mason earned a bachelor’s degree at Valparaiso University and received her medical degree from the Indiana University School of Medicine.

Dr. Lauren Ladd, a radiologist, has joined Eskenazi Health. She holds a bachelor’s in chemistry from Butler University and a medical degree from the IU School of Medicine.

Dr. Youssef Tahiri, a plastic surgeon, has joined Eskenazi Health. He earned his medical degree from McGill University in Quebec, Canada.

Dr. Peter Pang, an emergency physician, has joined Eskenazi Health. He received his bachelor’s from Brown University and his medical degree from the University of Texas-San Antonio.

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Company news

September 15, 2014

The Community Health Network hospital system will purchase the Hilton Indianapolis North hotel along Interstate 69 and redevelop it as a facility for physicians and patients. The 221-room hotel sits on a nine-acre piece of land, adjacent to Community North Hospital, which is owned by the hospital’s foundation. The foundation has first-right-of-refusal to purchase the hotel from the current Hilton franchisee. The foundation announced Sept. 11 it would exercise that right, purchasing the hotel for an undisclosed amount. The hotel will continue to operate until the end of the year. “Community’s north region continues to expand its reach and needs the physical space to meet the growing demands of the marketplace,” said Joyce Irwin, president of the Community Health Network Foundation, in a written statement. “Opening up this prime area of real estate for health care services benefits the residents who live in the northern areas of central Indiana.” Community Hospital North opened in 1985 with 100 inpatient beds, emergency department and outpatient services. It has since expanded to include a 42-bed neonatal intensive care unit, a maternity unit with 60 private patient suites, a heart and vascular hospital, a rehabilitation hospital, and an oncology center.

Three years after its founding, Lafayette-based SpeechVive Inc. has launched its first product, a device intended to help people with a soft voice due to Parkinson's disease speak more loudly and communicate more effectively. Based on technology developed at Purdue University, the device is now available to try as a demo through the National Parkinson's Disease Foundation’s Centers of Excellence before purchasing. The technology was developed over the past decade by Jessica Huber, a professor in Purdue's Department of Speech, Language and Hearing Sciences. Huber co-founded SpeechVive in 2011 to bring the technology to market. According to SpeechVive, more than 1.5 million people in the United States are diagnosed with Parkinson's disease, and about 89 percent of those with the disease have voice-related change affecting how loudly they speak.

The Indiana State Department of Health and the University of Indianapolis Center for Aging & Community are offering $30,000 grants to as many as seven groups to use to improve the quality of nursing home care. The grants will be made to regional groups formed by health care facilities, provider associations, consumer advocacy groups and community organizations. The collaborative partners will work together to assess needs, design quality improvement plans and provide education and resources to nursing homes in their areas.

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Sales/acquisitions

September 9, 2014
-Popeyes Louisiana Kitchen bought a 0.85-acre outlot at 4920 W. 38th St. The buyer was represented by Steve Delaney and Larry Davis of Sitehawk Retail Real Estate. The seller, GE Capital, was represented by Allison Hawley of Niessink Commercial Real Estate

-AFC Enterprises dba Popeyes Louisiana Kitchen bought the former Big Red Towing at 3821 N. Keystone Ave. The buyer was represented by Steve Delaney and Larry Davis of Sitehawk Retail Real Estate. The seller, Joe Long, represented himself.

-MSM Real Estate Holdings LLC dba Methodist Sports Medicine bought the 38,000-square-foot 1401 Office Park at 1401, 1405 and 1411 W. County Line Road, Greenwood. The buyer was represented by Itamar Cohen of Prudential Commercial Group. The seller, First Financial Bank, was represented by Steve Beals and Richard King III of Lee & Associates.

-Hockett Real Estate LP bought 32 acres at 6551 and 6591 S. Indianapolis Road, Whitestown. The seller, C and W Inc., was represented by Tom Osborne and Ross Reller of Colliers International. The buyer represented itself.

-San Antonio-based USAA Real Estate Co. bought Lake Pointe Center III and Lake Pointe Center IV office buildings at 8470 and 8520 Allison Pointe Blvd. The seller of the 170,000-square-foot complex, Sun Life Assurance Co. of Canada, was represented by Rebecca Wells, Jim Postweiler and John Robinson of JLL. The buyer represented itself.
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Leases/leasing contracts

September 9, 2014
-JLL has been hired by USAA Real Estate Co. as leasing manager for Lake Pointe Center III and Lake Pointe Center IV at 8470 and 8520 Allison Pointe Blvd. JLL's Kevin Gillihan and Eric Pryor will handle leasing at the 170,000-square-foot office complex.   

-Emporium LLC leased 40,980 square feet at River Ridge Plaza, 2100 Scatterfield Road, Anderson. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Sandor, was represented by Jeff Roberts of Sandor.

-CDI renewed its lease for 12,106 square feet at 11900 N. Meridian St. The tenant was represented by Tim Norton of Cushman & Wakefield/Summit. The landlord, Cornerstone Companies Inc., represented itself.

-Circle City Martial Arts & Fitness leased 6,591 square feet at 6107 Airport Blvd., Building 106, Mount Comfort. The tenant was represented by Joe Lonnemann of NAI Meridian Real Estate LLC. The landlord, The Peterson Property Group LLC, was represented by Matt Langfeldt, Rich Forslund and Jason Speckman of Cushman & Wakefield/Summit.

-AFC Enterprises d/b/a Popeyes Louisiana Kitchen leased a 5,480-square-foot building at 6161 E. 82nd St. The tenant was represented by Steve Delaney and Larry Davis of Sitehawk Retail Real Estate. The landlord, Huffer Holdings LLC  and SunTrust Bank, was represented by Jeff Hubley and Patrick Boyle of Midland Atlantic Properties.

-McGilvery’s Tap House leased 4,260 square feet at Greenbrook Shoppes, 8249 U.S. 31 South. The tenant was represented by John Schick of Schick Properties. The landlord, Williams Realty Nine LLC, was represented by Larry Davis and John Baker of Sitehawk Retail Real Estate.

-American Mattress leased 3,313 square feet at Fishers Marketplace, 131st Street and State Road 37, Fishers. The tenant was represented by David Lucas of Julius M. Feinblum Real Estate Inc. The landlord, Thompson Thrift Development, was represented by Ryan Menard of Thompson Thrift.

-TKO Taekwondo leased 2,560 square feet at Greenbriar Shopping Center, 1315 W. 86th St. The landlord, Prime Property Investors Fund VIII, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-The Urban Chalkboard leased 2,529 square feet at The Carmel Marketplace, 452 E. Carmel Drive, Carmel. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Buckingham Fountains LLC, was represented by Gary Perel of Newmark Knight Frank Halakar.

-9 Dragons Distribution leased 2,400 square feet at Centre East Shopping Center, 10537 E. Washington St. The landlord, Centre East LLC, was represented by Dean Almas of Sitehawk Retail Real Estate. The tenant represented itself.

-State Farm leased 1,600 square feet at 6335 Intech Commons Drive. The landlord, Inland American Management LLC, was represented by Jeff Hubley of Midland Atlantic Properties. The tenant represented itself.

-Menchies Frozen Yogurt leased 1,600 square feet at 2683 E. Main St., Suite 108, Plainfield. The tenant was represented by Jeff Hubley of Midland Atlantic Properties. The landlord, Plainfield Commons II LLC, was represented by Liz Yoho of Providence Development LLC.

-Total Home Design Center leased 1,600 square feet at Meridian Meadows, 3003 Meridian Meadows Road, Greenwood. The landlord, TCP Meridian Meadows LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-Dottie Couture leased 1,340 square feet at The Depot at Nickelplate, 8594 E. 116th St., Fishers. The tenant was represented by Allison Hawley of Niessink Commercial Real Estate. The landlord, Fishers Owners LLC, was represented by Steve Delaney and Keith Fried of Sitehawk Retail Real Estate.
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Rates

September 9, 2014
The average rate for 30-year mortgages rose from 4.23 percent to 4.24 percent in the week ended Sept. 4, according to Bankrate.com. The rate for 15-year mortgages fell from 3.38 percent to 3.37 percent.
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Construction

September 9, 2014
-Reynolds Construction Group Inc. is scheduled to start a 7,200-square-foot interior renovation for Cornerstone Environmental Health and Safety at 880 Lennox Court, Zionsville.

-Mattingly Construction has completed construction of a 1,809-square-foot build-out for PROFYLE Boutique at Ironworks, 2727 E. 86th St., No. 125.

-Mattingly Construction has started construction of a 3,921-square-foot building for Martin Dentistry at 1724 Broad Ripple Ave.

-Mattingly Construction has completed a 1,200-square-foot build-out for Heritage Christian High School commons area at 6401 E. 75th St.
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People

September 5, 2014

Brian Schroeder has been named administrative director of Eskenazi Health Wellness, Eskenazi Health Occupational Health and Eskenazi Health Volunteer Services. He previously worked as a clinical practice administrator for the obstetrics and gynecology department of the Indiana University School of Medicine. He holds a bachelor’s degree in public health and a master’s degree in health administration, both from Indiana University.

Dr. Beth Nagle, a family physician, has joined Franciscan Physician Network’s Beech Grove Family Medicine practice. She earned her medical degree at the University of Tennessee Health Science Center College of Medicine in Memphis and received her undergraduate degree in biology from Taylor University.

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Company news

September 5, 2014

Eli Lilly and Co. plans to seek regulatory approval early next year for a new once-a-day insulin after the diabetes treatment fared better than the blockbuster drug Lantus in two late-stage clinical studies. According to the Associated Press, Lilly’s drug peglispro produced statistically significant lower blood sugar levels in Type 1 diabetes patients when compared to people who took Lantus, which garnered $7.8 billion in sales last year for France-based Sanofi SA. Peglispro is a basal or background insulin that patients with Type 1 or Type 2 diabetes can take along with shorter-acting mealtime insulin to help keep blood sugar levels stable.

St. Vincent Health wants to build a $14 million sports performance facility for serious athletes at Indy Cycloplex, a city park that includes the Major Taylor Velodrome cycling track. St. Vincent’s proposal is one idea being discussed with Marian University, which has a contract to manage the park for the city, and four amateur sports groups: Indiana Sports Corp, Play Ball Indiana, USA Football and USA Track & Field. St. Vincent’s idea, if accepted, could become reality as early as 2017. While no firm plans are in place, the groups are likely to discuss the possibility of relocating their offices or some of their operations to the site to create an “amateur sports community,” officials said. The four sports groups are all based in Indianapolis, but are spread around the city. Facilities for research, training, sports safety and performance are among the possible development options on the table in the hope they could attract other sports-governing bodies to Indianapolis. Another possibility for the site is a youth sports park.

Just three months before the parent company of AIT Laboratories was sold in 2009 to its employees for $90 million, it was appraised for less than one-fifth as much, according to a lawsuit filed Aug. 29 by the U.S. Department of Labor. That sudden swing in value is why the federal government has sued AIT founder Michael Evans and the bank he hired to help sell AIT, alleging they breached their fiduciary duties. The suit, filed in federal court in Indianapolis, asks the court to force Evans and Louisville-based PBI Bank to give back any gains they made from the sale. Evans, 70, owned nearly 88 percent of AIT when it was sold to an employee stock ownership plan, or ESOP, according to the lawsuit. Evans did not cash out that entire stake immediately when the sale was made, but instead was to be paid over time as AIT employees made contributions to the ESOP, which functions as their company retirement plan. The lawsuit claims Evans has been paid $16.3 million. It's not clear from the suit how much more he might be in line to collect. The complaint notes that in 2013, a period when AIT was under severe financial pressure, a recapitalization resulted in Evans, who had helped finance the buyout, receiving a 90-percent stake in AIT. Meanwhile, the ESOP's stake shrank from 100 percent to 10 percent.

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People

September 2, 2014
Jeffrey K. Lockhart has joined Collier's International's Capital Advisors Group as senior vice president.
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Sales/acquisitions

September 2, 2014
-INTEX Associates LLC bought a five-building, 154,200-square-foot portfolio of industrial/flex buildings at 6011 E. Hanna Ave., 5333 and 5340 Commerce Square Drive and 8320 Brookville Road. The buyer and seller, First Financial Collateral Inc., were represented by Joseph DiSalvo and Matt Deahl of Marcus & Millichap.

-Greg Crawford bought a 15,000-square-foot retail property at 4901 Century Plaza Road. The seller, Bates Realty LLC, was represented by Ray Simons of Cassidy Turley. The buyer represented himself.

-Dresslar Dent & Autobody LLC bought a 5,360-square-foot industrial building at 420 E. Old Plank Road, Bargersville. The buyer was represented by Teresa Clements of Lee & Associates. The seller, Blankenship Limited Liability, was represented by Jim Karozos of Colliers International.

-Robert W. Kleis Jr. Living Trust bought 1.389 acres at 550 Polk St., Greenwood.  The buyer and seller, Greenwood Senior Citizen Inc., were represented by Teresa Clements of Lee & Associates.
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Leases/leasing contracts

September 2, 2014
-The District Tap leased 15,062 square feet at 3720 E. 82nd St. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, White River Investments LP, was represented by John Beuoy of The Broadbent Co.  

-Hoosier Cancer Research Network Inc. leased 7,884 square feet of office space at 500 N. Meridian St. The tenant was represented by Spud Dick and John Crisp of Cassidy Turley. The landlord, Ambrose Property Group, was represented by John Vandenbark of CBRE.

-Sitehawk Retail Real Estate leased 6,173 square feet of office space at 8500 Keystone Crossing. The landlord, PWA Keystone Crossing LP, was represented by Andrew Martin and Bennett Williams of Cassidy Turley. The tenant represented itself.

-Wings Etc. leased 4,748 square feet of retail space at Greenfield Station,1925 Melody Lane, Greenfield. The tenant was represented by Dean Almas of Sitehawk Retail Real Estate. The landlord, LOR Corp., was represented by Jacque Haynes of Cassidy Turley.

-Auto-Chlor System renewed its lease for 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.

-Little Caesar’s Pizza leased 3,500 square feet of retail space at 3400 S. East St. The tenant was represented by Seth Biggerstaff of Veritas Realty. The landlord, James Crewes, was represented by Hugh Kennerk of Sperry Van Ness/Sycamore Commercial.
                  
-Companion Care Co. leased 2,520 square feet at 51 S. Park Blvd, Greenwood. The tenant was represented by Thomas Cortese III of CREstacom Real Estate Solutions. The landlord, South Park Group LLC, was represented by Brian Dell of Cushman & Wakefield/Summit.

-Shackelford Graphics Inc. renewed its lease for 2,500 square feet at 5640 S. Meridian St. The landlord, South Meridian Park LLC, was represented by Brian Dell of Cushman & Wakefield/Summit. The tenant represented itself.

-Vanguard of Evansville Inc. leased 2,400 square feet of industrial space at 5603 W. Raymond St. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.
 
-Optical Technologies Inc. renewed its lease for 2,224 square feet at 62 South Park Blvd., Greenwood. The tenant was represented by Pam Smith of Realty World. The landlord, South Park Group LLC, was represented by Brian Dell of Cushman & Wakefield/Summit.
                  
-Lombardo Homes of Indiana LLC leased 2,160 square feet of retail space at Fall Creek Harbour, 10106 Brooks School Road, Fishers. The tenant and landlord, FCH Associates LLC, were represented by Cindy Hoskinson of Lee & Associates.

-A Greek Restaurant leased 2,000 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.

-The Autoglass Professionals Inc. leased 1,800 square feet of industrial space at Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Teresa Clements of Lee & Associates.

-Newkirk Realty PC leased 1,121 square feet at 8606 Allisonville Road. The tenant was represented by Brian Dell of Cushman & Wakefield/Summit. The landlord, Castle Creek Office LLC, was represented by Brian Fitzgerald of Citimark Management Co.
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Construction

September 2, 2014
-Capitol Construction has completed a 2,000-square-foot restaurant build-out for Sushi Boss at 803 W. 10th St.

-Capitol Construction has completed a 2,000-square-foot office build-out for Graham Financial at 11555 N. Meridian St., Carmel.
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Rates

September 2, 2014
The average rate for 30-year mortgages fell from 4.24 percent to 4.23 percent in the week ended Aug. 28, according to Bankrate.com. The rate for 15-year mortgages rose from 3.37 percent to 3.38 percent.
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People

August 26, 2014
Jennifer Spritzer has joined the Carmel office of Keller Williams Commercial specializing in retail and investment properties.
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Correction

August 26, 2014
Indiana Premier Pharmacy leased 1,625 square feet at Fishers Town Center, 8395 E. 116th St., Fishers. The tenant was represented by Adam Olson of Charleston Real Estate. The landlord, The Broadbent Co., was represented by Brian Broadbent. In last week's Real Estate Weekly, the name of the tenant was incomplete and the tenant representative was omitted.
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Rates

August 26, 2014
The average rate for 30-year mortgages fell from 4.27 percent to 4.24 percent in the week ended Aug. 21, according to Bankrate.com. The rate for 15-year mortgages fell from 3.39 percent to 3.37 percent.
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Leases/leasing contracts

August 26, 2014
-Aim Solutions leased 25,600 square feet at 7941-7997 Allison Ave. The tenant was represented by Brian Dell of Cushman & Wakefield/Summit. The landlord, ProLogis, was represented by Jason Speckman of Cushman & Wakefield/Summit.

-Artisanz Fabrication & Machine Co. leased an additional 13,200 square feet of industrial space at 2198 Reeves Road, Plainfield. The landlord, Damon and Patricia Jones, was represented by Patrick Lindley and Grant Lindley of Cassidy Turley. The tenant represented itself.

-Exact Target leased 5,957 square feet of retail space at 433 N. Capitol Ave. The tenant was represented by Jenna Barnett of Newmark Knight Frank Halakar. The landlord, OneAmerica Financial Partners, was represented by Jacque Haynes and Don Williams of Cassidy Turley.

-Dottie Couture Shipping leased 5,311 square feet at 1729 S. U.S. 31, Greenwood. The tenant was represented by Kyle Powell of NAI Meridian. The landlord, 1729 South US 31 LLC, was represented by Brian Dell of Cushman & Wakefield/Summit.

-Sipes Asphalt Solutions leased 4,800 square feet of industrial space at 1316 N. Capitol Ave. The landlord, LLR Realty LLC, was represented by Brian Dell of Cushman & Wakefield/Summit. The tenant represented itself.
                  
-Three Chefs Corp. dba Dickey's BBQ leased 2,358 square feet of retail space at Fortune Plaza, 9655 E. U.S. 36, Avon. The tenant was represented by Bill Marsh of Colliers International. The landlord, Fortune Plaza Enterprise B LLC, was represented by Greg Smith of Colliers International.

-Creative Touch Interiors Inc. leased 2,347 square feet of industrial space at 9855 Crosspoint Blvd. The tenant was represented by Mark Writt of CBRE. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.

-Dr. Bryant Ponchot leased 1,686 square feet of retail space at 8802 S. Madison Ave. The landlord, Conrad Morris & Associates LLC, was represented by Greg Smith and Nate Smith of Colliers International. The tenant represented itself.

-Hammel Insurance Agency leased 1,600 square feet of retail space at 12656 E. 116th St., Fishers. The tenant was represented by Keith Dedrick of Corporate Commercial Group. The landlord, Brooks School Plaza LLC, was represented by Greg Smith of Colliers International.

-Jimmy John’s leased 1,535 square feet of retail space at 9893 N. Michigan Road, Carmel. The landlord, CASTO, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
 
-Staff America Inc. leased 1,446 square feet of office space at 8465 Keystone Crossing. The tenant was represented by Kimberly Estes Hartman and Tom Osborne of Colliers International. The landlord, 8465 Associates LLC, was represented by Bill Montrie of Corporate Park Development Inc.

-Sweeties GT LLC leased 1,320 square feet of retail space at 2101 E. 62nd St. The tenant was represented by Ron Mannon of Lee & Associates. The landlord, McKee Realty Corp., was represented by Bill French of Cassidy Turley.

-Hair Passion leased 756 square feet of retail space at 8802 S. Madison Ave. The landlord, Conrad Morris & Associates LLC, was represented by Greg Smith and Nate Smith of Colliers International. The tenant represented itself.
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Construction

August 26, 2014
-Kort Builders has completed a 25,000-square-foot build-out for Streetlinks at 451 Market St.

-Kort Builders has completed a 20,000-square-foot build-out for Surface Encounters at 7375 Company Drive.

-Capitol Construction has completed a 9,400-square-foot office build-out for McGuire Sponsel at 201 N. Illinois St.

-Capitol Construction has completed a 900-square-foot remodel for Starbucks at 55 Monument Circle.
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Sales/acquisitions

August 26, 2014
-Andover North Developer LLC bought 52 acres at 18600 Shadynook Road. The seller, Westfield Lutheran Mission LLC, was represented by Michael P. Sloan of The Broadbent Co. The buyer represented itself.

-Daredevil Brewing Co. bought 1.6 acres at 1147 N. Main St., Speedway. The buyer was represented by John Byrne of Radar Commercial Real Estate. The seller,  the Town of Speedway Department of Redevelopment, was represented by Michael Weishaar and Bill Flanary of Cassidy Turley.

-An affiliate of Barrat Asset Management bought the 60-unit Park Place at Fox Hill apartments at 1349 Saddlebrook Court. The buyer and seller, Fox Hill Apartments LLC, were represented by Michael H. Wernke of Colliers International.
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Company news

August 25, 2014

Ohio-based Cardinal Health Inc. wants to open a $14.4 million drug-production facility that would employ 85 workers by 2017. A Cardinal subsidiary, Cardinal Health 414 LLC, produces a cancer treatment locally at a compounding center on Georgetown Road. The Indianapolis Department of Metropolitan Development said Cardinal wants to expand production of the medication by opening a second facility in an existing 64,000-square-foot warehouse at 4343 W. 62nd St. If the project goes forward locally, the company said it would spend $11.5 million to make the building suitable for pharmaceutical production and another $2.9 million in manufacturing and research equipment for the facility. Cardinal wants a tax abatement valued at $690,297 over 10 years. During that time, the company still would pay $648,169 in property taxes.

Consolidated Insurance Services Inc. has merged with Shepherd Insurance, creating an insurance agency with eight Indiana offices, 145 agents and more than 160 employees. Consolidated will now operate as Consolidated Shepherd Insurance, while Shepherd will maintain its name. Shepherd is based in Carmel and has offices in Noblesville, Greenfield, Columbus, Evansville and Seymour. The agency, which in recent years has bulked up its presence in health insurance, was founded in 1977 by Dave Shepherd, who won Indiana's Mr. Basketball award in 1970 while at Carmel High School. Consolidated, founded in 1932, is led by Rex Early, the former Republican state chairman and gubernatorial candidate.

Eli Lilly and Co. and a partner drugmaker won tentative regulatory approval for a once-a-day insulin that will compete with Lantus, the blockbuster insulin made by France-based Sanofi SA. Called Basaglar, the drug is approved for adults with type 2 diabetes and in combination with mealtime insulin for adults and children with type 1 diabetes. Lilly co-developed the drug with Germany-based Boehringer Ingelheim GmbH. The approval is tentative because of a claim of patent infringement filed by Sanofi. The U.S. Food and Drug Administration cannot give final approval of Basaglar until mid-2016, unless courts find in favor of Lilly earlier.

Eli Lilly and Co. will submit its experimental psoriasis drug for regulatory approval after the medicine helped six times as many patients participating in clinical trials completely clear up their skin irritations as an existing treatment. Lilly’s drug, ixekizumab, is in a race with two others to be first in a new class of psoriasis treatments to reach the market. Lilly expects to submit the drug to regulators—most likely in the United States, Europe and Japan—in the first half of 2015. The commercial prospects for ixekizumab are uncertain. Before Thursday’s announcements, Wall Street analysts expected the drug to fall short of $1 billion in annual sales by 2020. Switzerland-based Novartis AG already has submitted its drug for psoriasis to the FDA, and expects a decision as early as year’s end. California-based Amgen Inc. has partnered with United Kingdom-based Astra Zeneca plc on a new drug for psoriasis, but they have yet to complete late-stage testing.

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  1. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  2. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

  3. Good try, Mr. Irwin, but I think we all know the primary motivation for pursuing legal action against the BMV is the HUGE FEES you and your firm expect to receive from the same people you claim to be helping ~ taxpayers! Almost all class action lawsuits end up with the victim receiving a pittance and the lawyers receiving a windfall.

  4. Fix the home life. We're not paying for your child to color, learn letters, numbers and possible self control. YOU raise your children...figure it out! We did. Then they'll do fine in elementary school. Weed out the idiots in public schools, send them well behaved kids (no one expects perfection) and watch what happens! Oh, and pray. A mom.

  5. To clarify, the system Cincinnati building is just a streetcar line which is the cheapest option for rail when you consider light rail (Denver, Portland, and Seattle.) The system (streetcar) that Cincy is building is for a downtown, not a city wide thing. With that said, I think the bus plan make sense and something I shouted to the rooftops about. Most cities with low density and low finances will opt for BRT as it makes more financial and logistical sense. If that route grows and finances are in place, then converting the line to a light rail system is easy as you already have the protected lanes in place. I do think however that Indy should build a streetcar system to connect different areas of downtown. This is the same thing that Tucson, Cincy, Kenosha WI, Portland, and Seattle have done. This allows for easy connections to downtown POI, and allows for more dense growth. Connecting the stadiums to the zoo, convention center, future transit center, and the mall would be one streetcar line that makes sense.

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