newsletter.story

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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People

August 25, 2014

Dr. William VanNess submitted his resignation last week as Indiana’s health commissioner, but plans to stay in his role until Gov. Mike Pence finds a replacement, according to the Associated Press. VanNess was appointed by Pence in January, a month after retiring as CEO of Community Hospital of Anderson.

Dr. Isra’a Khan, a pediatric hospitalist at Community Hospital North, has joined Community Physician Network. She received her medical degree at Dow Medical College in Karachi, Pakistan.

Suburban Health Organization named Dr. Craig Wilson chief medical officer. He will work to develop new ways for county-owned and not-for-profit hospitals in the organization to integrate their health care operations. Wilson previously served as chief medical officer of St. Vincent Fishers Hospital. He holds an undergraduate degree in medicine from the University of Queensland, Australia, and a master’s degree in health science from Duke University.

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Rates

August 19, 2014
The average rate for 30-year mortgages fell from 4.29 percent to 4.27 percent in the week ended Aug. 14, according to Bankrate.com. The rate for 15-year mortgages fell from 3.40 percent to 3.39 percent.
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Sales/acquisitions

August 19, 2014
-Think Holdings LLC, dba Rainbow Child Care, bought 1.5 acres at Geist Shoppes, 10400 Olio Road, Fishers. The buyer was represented by Kurt Meyer of Baseline Properties. The Seller, Ameriana Bank, was represented by Dean Almas of Sitehawk Retail Real Estate.

-A joint venture between TWG Development and Vince Shimp bought a 22,000-square-foot building at 915 S. Meridian St. The buyer was represented by Rob Lukemeyer of Baseline Commercial Group. The seller, Rinky Corp., was represented by Derek Menerey and Ashley Bussell of Newmark Knight Frank Halakar.

-Material Handling Solutions bought a 30,000-square-foot warehouse on six acres at 72 S. Post Road. The buyer was represented by Brian Augustin of Alliance Commercial Group. The seller, Hobbs Automotive, was represented by Michael P. Sloan of The Broadbent Group.
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Leases/leasing contracts

August 19, 2014
-La-Z Boy Furniture leased 20,040 square feet at Clearwater Crossing, 3736-3958 E. 82nd St. The landlord, The Broadbent Co., was represented by Joe Kenney of Broadbent. The tenant represented itself.

-TwinMed LLC leased 11,470 square feet of office space at 6625 Network Way. The tenant was represented by Yumi Goodman of Colliers International. The landlord, Network Way Properties LLC, was represented by Kevin Gillihan of JLL.

-Wings Etc. leased 4,748 square feet 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.

-Integrated Health Solutions Inc. leased 2,454 square feet at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, Metro Centre Office Park LLC, was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Quality Applied Systems Inc. leased 2,419 square feet at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, Metro Centre Office Park LLC, was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Hamilton County Pediatric Dentistry LLC leased 2,169 square feet at 13450 N. Meridian St., Carmel. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, LHRET Ascension SV LLC, was represented by Lillebridge Healthcare Services Inc.

-Steven J. Shear DDS leased 2,078 square feet at 9002 N. Meridian St. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, PHT Lakeview LLC, was represented by Travis Tucker of Duke Realty.

-Style Encore leased 3,260 square feet at Greenwood Place, 7759-7921 U.S. 31 South. The landlord, The Broadbent Co., was represented by Joe Kenney of Broadbent. The tenant represented itself.

-Premier Pharmacy leased 1,625 square feet at Fishers Town Center, 8395 E. 116th St., Fishers. The landlord, The Broadbent Co., was represented by Brian Broadbent. The tenant represented itself.

-Ooh LaLa Nail Spa leased 1,600 square feet at Fashion Mall Commons, 8487 Union Chapel Road. The landlord, The Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.

-R&A Fashions leased 1,200 square feet at Lafayette Shoppes, 3840-3882 Lafayette Road. The landlord, The Broadbent Co., was represented by Jim Mosher of Broadbent. The tenant represented itself.
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People

August 19, 2014
Caroline Thomas has joined Cushman & Wakefield/Summit as brokerage coordinator. Rob King has joined the lease administration department.
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Construction

August 19, 2014
-Holladay Construction Group LLC. partnered with Holladay Properties to convert a 17,000-square-foot warehouse into an office/warehouse suite for Accelerated Inc. at 5777 Decatur Blvd.

-Capitol Construction has completed a 16,000-square-foot expansion for Allied Solutions at 1320 City Center Drive, Carmel.

-Capitol Construction has completed a 3,400-square-foot office build-out for Body One Physical Therapy at 10412 Allisonville Road, Fishers.  

-Capitol Construction has completed a 2,500-square-foot office expansion for PR Mortgage at 11555 N. Meridian St, Carmel.
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People

August 18, 2014

Community Health Network hired Joe Kessler as its chief financial officer, replacing Tom Fischer, who left in December. Kessler previously worked as CFO at the Kaleida Health hospital system in Buffalo, New York, and before that at TriHealth in Cincinnati and at the Ernst & Young accounting firm. He received his bachelor’s degree in business administration from Ohio State University.

Dixie Platt has been named vice president of marketing and communications at Community Health Network, starting Sept. 2. Most recently, Platt was senior vice president of communications, public policy and external relations at St. Louis-based hospital system SSM Healthcare. Platt has a bachelor’s degree from the University of Wisconsin and a master’s degree in journalism from the University of Missouri.

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Company news

August 18, 2014

Regenstrief Institute Inc. plans to build a $13 million, 80,000-square-foot headquarters at 10th and Wilson streets, the Indiana University School of Medicine announced on Aug. 14. The facility will be built on the medical school's campus at IUPUI on land leased from Indiana University. Regenstrief, a not-for-profit medical research organization, plans to move 50 investigators, 165 staff members and a number of affiliated scientists into the building when it is completed in mid-2015. Most of those employees now work in nearby locations at 1050 Wishard Blvd. and 410 W. 10th St. The Regenstrief Foundation has committed $5 million to the new building and the IU School of Medicine is contributing another $1 million, officials said. Schmidt Associates of Indianapolis is handling architecture and interior design. Regenstrief investigators developed and operate the Regenstrief Medical Record System, which has served as the electronic medical record system for Wishard, and now Eskenazi Health, since 1973. It is the oldest continually operational medical record system in the United States, Regenstrief said.

Eli Lilly and Co. says it will close its Elanco Animal Health enzyme plant in Terre Haute by early 2016 as part of a consolidation, according to the Associated Press. Lilly spokesman Ed Sagebiel told the Tribune-Star that the Indianapolis-based company is consolidating all of its animal enzyme manufacturing to a site in Great Britain. He said the plant closure will affect 23 employees, all of whom will be offered comparable positions at a Lilly plant near Clinton that employs about 500 workers. Clinton is about 15 miles north of Terre Haute. The Terre Haute plant makes animal feed enzymes that help animals digest food more efficiently, boosting farm productivity. Lilly purchased the Terre Haute plant in 2012.

Carmel entrepreneur Zeke Turner has agreed to sell the real estate investment trust he started two years ago for $950 million to focus on his original nursing home development company, Mainstreet Property Group. HealthLease Properties REIT, which Turner leads as CEO, announced Aug. 13 that it will be sold to Ohio-based Health Care REIT Inc. The Toledo, Ohio-based company, also known as HCN, also agreed to form a development partnership with Mainstreet under which it will acquire 17 projects Mainstreet has under construction and 45 senior care campuses it plans to build. In all, the deal is worth more than $2.3 billion. HCN, the largest U.S. health care landlord by market value, said it will pay $14.20 per share in Canadian dollars for HealthLease, 31 percent more than HealthLease's stock price before the deal was announced. HealthLease Properties, which is listed on the Toronto Stock Exchange, owns 51 senior care facilities in Canada and the United States, including 12 in Indiana. In second-quarter results announced Aug. 12, the company’s revenue and profit doubled from the previous year, to $17.6 million and $5 million, respectively, in Canadian dollars. Mainstreet has been the fastest-growing company in the Indianapolis area over the past three years. Revenue skyrocketed to more than $66 million last year.

A federal judge said Indiana can challenge an Internal Revenue Service rule that offers tax credits to Hoosiers who purchase health insurance on Obamacare’s federal marketplace, HealthCare.gov. According to Bloomberg News, U.S. District Judge William T. Lawrence in Indianapolis denied an IRS bid to dismiss that portion of the state’s 2013 lawsuit, in which it claimed the rule illegally conflicts with a provision of the federal law limiting those tax credits to enrollees in state-created exchanges. Lawrence’s ruling comes three weeks after U.S. appeals courts in Washington, D.C., and in Richmond, Virginia, reached conflicting conclusions about availability of the subsidy for which 4.5 million people have qualified. Indiana was one of the states that opted to not create an exchange. Lawrence, in his ruling, rejected U.S. contentions that Indiana and the 39 state public school systems that joined it in the suit would suffer no harm from the rule. Lawrence did, however, reject Indiana’s contention the mandate violated its sovereignty, ruling it, and 25 other states, lost that argument in the early stages of a 2010 Obamacare challenge that ended with the U.S. Supreme Court upholding the legislation as a valid exercise of Congress’ taxing authority.

Indianapolis-based WellPoint Inc. will change its name back to Anthem Inc., the brand under which it sells most of its coverage, according to Bloomberg News. The name change will be completed by the end of the year, pending shareholder approval, the company said in a statement. WellPoint will hold a shareholder vote on the change in November. WellPoint and other large health insurers find themselves increasingly marketing directly to consumers, as Obamacare requires most uninsured Americans to obtain coverage and employers thrust more responsibility for costs on their workers. The company sells plans in 14 of the health care law’s new insurance exchanges, in most cases under its Anthem brand.  The company doesn't sell plans under the WellPoint name. WellPoint Inc. was formed in 2004 when Indianapolis-based insurer Anthem Inc. completed a $16.5 billion merger with California-based WellPoint Health Networks Inc. Anthem Inc. was originally formed in 1995 when Indianapolis-based insurer Associated Group merged with Cincinnati-based Community Mutual Insurance Co. Anthem demutualized and conducted an initial public offering in 2001.

Bloomington’s Monroe Hospital LLC, which has had a close relationship with Indianapolis-based St. Vincent Health, filed for bankruptcy reorganization on Aug. 15 and plans to sell its business to a Canadian hospital operator. The Chapter 11 bankruptcy petition, filed in federal court in Indianapolis, said the 32-bed hospital had more than twice as many liabilities as assets. It has been losing money due to low patient traffic in the face of cross-town competition from Indiana University Health’s Bloomington Hospital. Monroe and St. Vincent signed a management agreement two years ago, with St. Vincent taking responsibility for Monroe’s quality and safety efforts, finance functions, physician relations and patient satisfaction. St. Vincent also considered adding Monroe to its 22-hospital network. Those merger talks and St. Vincent’s management of those Monroe services ended last October, but longtime St. Vincent executive Joe Roche was installed as Monroe’s CEO. St. Vincent is now one of Monroe’s largest creditors, with the hospital owing St. Vincent’s physician group $170,000. St. Vincent physicians provide cardiac care and orthopedic surgeries to Monroe patients. Even after the hospital is sold to a new owner, St. Vincent will try to continue its clinical relationship with Monroe.

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Construction

August 12, 2014
-Capitol Construction has completed a 9,900-square-foot shell for Dollar General at 21 E. Main St., Pittsboro.

-Capitol Construction has completed a 1,700-square-foot office build-out for Steinborn at 50 E. 91st St.

-Capitol Construction has completed a 700-square-foot retail build-out for Hubbard & Cravens Coffee at 11 S. Meridian St.
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Leases/leasing contracts

August 12, 2014
-Buchanan Group Services LLC leased 80,000 square feet of industrial space at 2525 N. Shadeland Ave. The tenant was represented by John Snell of Snell Real Estate Evaluation Co. Inc. The landlord, 2525 Shadeland LLC, was represented by Todd Vannatta and Michael Weishaar of Cassidy Turley.

-DSG Indiana LLC leased 75,578 square feet of industrial space at 909 Whitaker Road, Plainfield. The tenant was represented by Luke Wessel of Cassidy Turley. The landlord, Industrial Income Trust, was represented by Brian Seitz of JLL.

-Pilkington North American leased 10,027 square feet of industrial space at 612 Blanchard St., Shelbyville. The tenant was represented by Jason Speckman of Cushman & Wakefield/Summit. The landlord, 222 Group LLC, was represented by Todd Vannatta of Cassidy Turley.

-Pet Supplies Plus leased 7,011 square feet of retail space in Indian Creek Commons Shopping Center, 10625 Pendleton Pike, Suite A-1. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate and John Liprando of Sullivan Hayes. The landlord, Viking Partners Indian Creek LLC, was represented by Jamison Downs, Seth Biggerstaff and Kyle Hughes of Veritas Realty.
 
-Hoosier Connection Limousine Inc. leased 4,318 square feet of industrial space at 5545 W. Raymond St. The tenant was represented by Ryan Carroll of Carson Realty. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.

-Center Grove Dentistry PC leased 2,800 square feet at 1405 W. County Line Road, Greenwood. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, First Financial Collateral Inc., was represented by Steve Beals and Richard King of Lee & Associates.

-World Finance leased 2,580 square feet of retail space in Walnut Hills Plaza Shopping Center, 2008 Stafford Road, Plainfield. The tenant was represented by Seth Biggerstaff of Veritas Realty. The landlord, Walnut Bliss LLC, was represented by Todd Camesasca of Kosene & Kosene.

-Flynndogg Enterprises LLC, dba Hot Box Pizza, leased 2,400 square feet at 14300 Mundy Drive, Suite 700, Noblesville. The tenant was represented by Jason S. Challand of Echelon Realty Advisors. The landlord, Prairie Lakes II LLC, was represented by Liz Yoho of Providence Development.

-The Voice Clinic LLC leased 2,115 square feet at 1185 W. Carmel Drive, Carmel. The tenant was represented by Matt Jackson of Jackson IG LLC. The landlord, Old Meridian Investments LLC, represented itself.

-A Breathe of Heaven leased 1,360 square feet of retail space in Indian Creek Commons Shopping Center, 10625 Pendleton Pike, Suite A-9. the landlord, Viking Partners Indian Creek LLC, was represented by Jamison Downs, Seth Biggerstaff and Kyle Hughes of Veritas Realty. The tenant represented itself.

-Sherman Wireless leased 800 square feet of retail space in Brightwood Plaza Shopping Center, 2435 N. Sherman Drive. The landlord, Brightwood Plaza Investors LLC, was represented by Kyle Hughes, Paul Rogozinski and Seth Biggerstaff of Veritas Realty. The tenant represented itself.

-Roman & Leo leased 550 square feet of retail space at 8664 E. 116th St., Fishers. The tenant was represented by Seth Biggerstaff of Veritas Realty.  The landlord, Fishers Depot LLC, was represented by Hamada Ibrahim of R.P. Lux Commercial Real Estate Services.
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Sales/acquisitions

August 12, 2014
-Tuttle Development Main Street LLC bought 35 acres at the northwest corner of 146th Street and Promise Road in Noblesville. The buyer was represented by Herb Feldman of Lee & Associates and Doug McAuley of Douglas Realty Advisors Inc. The seller, First Merchants Bank, was represented by Jason S. Challand of Echelon Realty Advisors.

-Shelbyville Retail LLC bought a 1.03-acre retail parcel at Shelbyville Marketplace, 2400 Marketplace Blvd., Shelbyville. The buyer was represented by Jamison Downs and Kyle Hughes of Veritas Realty. The seller, Progress Parkway LLC, was represented by Nancy A. Smith of Carpenter Realtors and Ryan Zickler of Zickler Associates LLC.
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Rates

August 12, 2014
The average rate for 30-year mortgages rose from 4.28 percent to 4.29 percent in the week ended Aug. 7, according to Bankrate.com. The rate for 15-year mortgages was unchanged at 3.40 percent.
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Company news

August 11, 2014

Major Hospital is seeking public input on its plans to build a $100 million hospital on the northern edge of Shelbyville, according to The Shelbyville News. The plans, which Major executives have been mulling since 2003, call for a 240,000-square-foot facility that would connect to Major’s Benesse Oncology Center in the Intelliplex business park. Major has also opened orthopedic, cardiology and OBGYN centers in the park. Major’s inpatient hospital in the center of Shelbyville has 72 beds, but the vast majority of the care Major provides is on an outpatient basis. Major has already begun to solicit bids from construction firms and bond rating agencies. CEO Jack Horner said the Major Hopsital board could make a decision on building a new hospital by October.

St. Vincent Heart Center wants to build a helipad about a half-mile from the specialty hospital. Currently, helicopter ambulances transporting cardiovascular patients must land at a borrowed facility a couple of miles north, on the opposite side of heavily traveled U.S. 31—adding as much as 20 minutes to the trip. Carmel’s Board of Zoning Appeals denied a similar request back in 2008, saying the proposed location was too close to nearby neighborhoods. But the newly proposed location at 10202 N. Meridian St. is less residential. The now-vacant land was once the home of Pilgrim Lutheran Church, which moved to 106th Street in 2012 to make way for the U.S. 31/I-465 interchange improvements now under construction. The zoning board is scheduled to consider the request at its Aug. 25 meeting.

Warsaw-based Symmetry Medical Inc. plans to sell off the orthopedics components subsidiary that generates nearly 80 percent of its revenue, according to Greater Fort Wayne Business Weekly. Massachusetts-based Tecomet, which is part of Genstar Capital, has agreed to pay $450 million for the OEM Solutions subsidiary. As part of the sale, Symmetry Medical will transfer ownership of its surgical instrument business, Symmetry Surgical, to the company’s shareholders and turn Symmetry Surgical into a newly traded public company. Shareholders would get one share of the new company for every four shares of Symmetry Medical stock. OEM Solutions generated nearly $81 million in revenue in the second quarter. Symmetry Surgical, meanwhile, saw $20.4 million in second-quarter revenue, down 8.7 percent from a year earlier.

WellPoint Inc.’s California subsidiary has partnered with the not-for-profit health plan Blue Shield of California to pay $80 million to launch a medical data sharing portal, according to the Associated Press. The California Integrated Data Exchange, known as Cal INDEX, is designed to share patients’ medical claims records electronically among doctors and hospitals, even for emergency room patients. Mark Morgan, president of WellPoint’s Anthem Blue Cross plan in California, said the health plans will mimic successful models such as the New York e-Health Collaborative and Indiana Health Information Exchange. The health plans’ information from patients' billing claims could supplement treatment records in the 30 health information exchanges health care providers have already created in California.

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