newsletter.story

Sales/acquisitions

July 29, 2014
-Pulte Homes of Indiana bought 35.46 acres at the southeast corner of West 146th Street and Little Eagle Creek Road, Carmel. The seller, Murphy Family Trust, was represented by Abbe Hohmann of Site Strategies Advisory. The buyer represented itself.

-Madison Avenue Planet RE LLC, doing business as Planet Fitness, bought a 13,800-square-foot, freestanding retail building at 2740 Madison Ave. The buyer was represented by Bart Jackson and Scot Courtney of Lee & Associates. The seller, Wabash College, was represented by Jim Karozos of Colliers International.
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Leases/leasing contracts

July 29, 2014
-Lysse Partners LLC leased 32,826 square feet of industrial space at 8460 Bearing Drive. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.

-Bastian Solutions leased 17,242 square feet Georgetown Building 1, 7950 Georgetown Road. The tenant was represented by Mark Writt of CBRE. The landlord, Duke Realty, was represented by Jay Archer of Duke.
 
-Security Vault Works Inc. leased 16,000 square feet of industrial space in Park West, 980 Western Drive. The tenant was represented by Stan Elser of Lee & Associates. The landlord, B&D Development Co. LLC, represented itself.

-Save-A-Lot Food Stores leased 15,600 square feet at 1223 S. High School Road. The tenant was represented by Larry Davis of Sitehawk Retail Real Estate. The landlord, West Washington Street Partners LLC, was represented by Brent Benge of Paradigm Real Estate Investments.

-Pet Supplies Plus leased 7,011 square feet at Indian Creek Commons, 10625 Pendleton Pike. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Viking Partners Indiana Creek LLC, was represented by Seth Biggerstaff of Veritas Realty.

-Cleaning Solutions leased 4,430 square feet of industrial space at 5603 W. Raymond St. Both the tenant and the landlord, Iron Point Titan Asset Management LLC, were represented by Bryan Poynter of Cassidy Turley.

-Western Governors University renewed its lease for 3,841 square feet of office space at 10 W. Market St. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, MT Acquisitions LLC, was represented by Bennett Williams and Andrew Martin of Cassidy Turley.

-Integration Partners Corp. leased 3,299 square feet of industrial space at 9855 Crosspoint Blvd. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.

-Milestone Contractors LP leased 3,281 square feet of industrial space at 3250 N. Post Road. Both the tenant and the landlord, Iron Point Titan Asset Management LLC, were represented by Bryan Poynter of Cassidy Turley.

-Quartermaster Facility Supplies LLC leased 2,400 square feet of industrial space at 5603 W. Raymond St. Both the tenant and the landlord, Iron Point Titan Asset Management LLC, were represented by Bryan Poynter of Cassidy Turley.

-Matthews International Corp. leased 2,097 square feet of office space at 8606 N. Allisonville Road. The tenant was represented by Spud Dick of Cassidy Turley. The landlord, Citimark Inc., was represented by Brian Fitzgerald of Citimark.

-Any Lab Test Now leased 1,600 square feet of retail space at 1642 S. Olive Branch Parke Lane, Greenwood. The landlord, KLC Realty LLC, was represented by Greg Smith of Colliers International. The tenant represented itself.
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Rates

July 29, 2014
The average rate for 30-year mortgages fell from 4.30 percent to 4.28 percent in the week ended July 24, according to Bankrate.com. The rate for 15-year mortgages rose from 3.40 percent to 3.41 percent.
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People

July 29, 2014
Tim O’Brien, formerly of CBRE, Colliers International and Resource Commercial, has started O'Brien Commercial Real Estate, a commercial brokerage and consulting firm.
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Construction

July 29, 2014
-Holladay Construction Group LLC partnered with Holladay Properties on a 600-foot warehouse work-area expansion and office upgrade for Batesville at 5770 Decatur Blvd.

-Capitol Construction has completed a 3,600-square-foot office build-out for Advanced Pain Management at 10412 N. Allisonville Road, Fishers.

-Capitol Construction has completed a 3,700-square-foot office build-out for Fairway Mortgage at 10194 Crosspoint Blvd.

-Capitol Construction has completed a 7,000-square-foot production facility for Ambre Blends at 7825 E. 89th St.
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People

July 28, 2014

Hendricks Regional Health in Danville named Yvonne Culpepper, a registered nurse, its chief operations officer in addition to her role as chief nursing officer. Culpepper earned a bachelor’s degree in nursing and master’s degree in nursing administration from Indiana University. She earned a doctor of nursing practice degree from Purdue University.

Dr. Gordon Reed, has been named chief medical officer at Hendricks Regional Health. Reed earned a bachelor’s degree at the University of Illinois and completed his medical training at the Indiana University School of Medicine.

Dr. Brian Brewer, a trauma surgeon, has joined the trauma center at IU Health Methodist Hospital. He most recently worked at Sinai Hospital in Baltimore. Brewer earned his medical degree from Meharry Medical College.

Dr. Peter Hammer, a trauma surgeon, has joined the trauma center at IU Health Methodist Hospital. He most recently worked at the Los Angeles County and University of Southern California Medical Center. Hammer, a retired commander from the U.S. Navy and a veteran of the war in Afghanistan, earned his medical degree at Wayne State University.

Dr. Ben Zarzaur, a trauma surgeon, has joined trauma center at IU Health Methodist Hospital. He most recently was a professor of surgery and preventative medicine at the University of Tennessee in Memphis. Zarzaur earned his medical degree from the University of Alabama.

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Company news

July 28, 2014

The Indiana University School of Medicine plans to hire 100 research professors over the next five years in a bid to vault into the top 25 medical schools. If successful, that recruitment drive could boost by 15 percent the number of research-oriented faculty at IU and bring in an extra $35 million to $40 million in annual research funding. If the plan plays out as Dean Dr. Jay L. Hess hopes, the school could become a closer partner with drugmaker Eli Lilly and Co., medical-device maker Cook Group Inc. and other major life sciences companies. Hess’ plans are actually a bit more modest than those advanced by his predecessor, Dr. Craig Brater, who retired last year. Brater wanted IU to become one of the 10 most richly funded medical schools for research, up from about 40th now. To get there, he estimated, the school needed to recruit 400 researchers, on top of the 700 it employs today. But Hess noted that IU would need hundreds of millions of dollars more per year in funding from the National Institutes of Health—IU receives about $100 million per year—to reach that level.

Four doctors who supposedly ran a system of clinics aimed at helping addicts kick painkillers were illegally selling a drug that's supposed to aid in rehabilitation, federal authorities said Friday after raiding the doctors’ clinics in Carmel, Noblesville, Muncie, Kokomo and Centerville. According to the Associated Press, Dr. Larry Ley, 68, of Noblesville, was being held on $1 million bond on drug-dealing charges in Hamilton County Jail. Prosecutors say Ley led the operation. A dozen additional suspects, including three other doctors, are under arrest or sought by police. The probable cause affidavit said patients would go to clinics operated by organizations called the Drug and Opiate Recovery Network or Living Life Clean and pay cash for prescriptions of Suboxone, a drug that can be used to treat addictions to opioid painkillers or heroin. The clinics did not accept insurance. Patients allegedly did not undergo medical or mental exams, and weren't asked to provide medical histories. Office employees allegedly handed out pre-signed prescriptions, the affidavit alleges. In 2013, Ley allegedly wrote nearly 8,500 prescriptions, generating an income of $718,000, the affidavit says.

Terre Haute-based Union Health System will cut 150 positions system-wide by the end of the year, according to the Tribune-Star. The cut represents a 5-percent reduction of the system’s 3,000 workers and is projected to produce savings of $200 million by 2020, according to a letter sent Thursday by CEO Pat Board to the hospital system’s employees. “We face numerous challenges due to changes in the healthcare environment and its impact on Union Health System, which include a shift to more outpatient services and declining reimbursement." Union Health includes Union Hospital in Terre Haute and Union Clinton Hospital in Vermillion County north of Terre Haute in western Indiana.

Community Health Network Foundation has been awarded a $1.5 million federal grant to discover ways to deliver better care at lower cost while strengthening its nursing staff. The Health Resources and Services Administration grant will fund a three-year project to encourage nurses to deliver care as teams at Community East Family Medicine Center and then replicate the model they create at seven Community hospitals and other sites of care. The grant covers 88 percent of the project’s estimated costs, and Community will provide the balance of the funding.

Dow AgroSciences LLC reported second-quarter sales of $1.9 billion, an increase of 3 percent over last year's second period. The Indianapolis-based subsidiary of Michigan-based Dow Chemical Co. reported quarterly earnings before interest, taxes, depreciation and amortization, or EBITDA, of $281 million. That was down $9 million, or 3 percent, from a year ago. Crop-protection sales rose 3 percent in the quarter, led by insecticides, which reported double-digit gains in all regions. Quarterly seed sales increased 3 percent, with growth in corn and soybeans in North America and Latin America.

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People

July 21, 2014

Community Health Network named Dr. Michael Shrift its chief medical information officer. He previously worked at Cleveland Clinic as associate chief medical information officer, and before that held positions at Allina Hospital and Clinics in Minneapolis and Centura Health in Denver. Shrift holds a bachelor’s degree in human biology from Stanford University. He earned his medical degree from the State University of New York Health Sciences Center. He also earned an MBA from the University of Denver.

Gina Arnett Thompson, former executive director of statewide regulatory affairs for Indiana University Health, has joined the health care group of the Indianapolis law firm Krieg DeVault LLP. Thompson holds an associate’s degree in nursing and a bachelor’s degree from Indiana State University. She earned a law degree from the Indiana University Robert H. McKinney School of Law.

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Company news

July 21, 2014

Assembly Pharmaceuticals Inc., which had offices in Indiana, has merged with New York-based Ventrus Biosciences, a publicly traded drug development firm, to create Assembly Biosciences. The new company trades on the NASDAQ stock market under the ticker symbol ASMB. Assembly has been developing antiviral drugs focused on hepatitis B based on the scientific research of Adam Zlotnick, a professor of molecular and cellular biochemistry at the Indiana University Bloomington campus. Zlotnick co-founded Assembly in 2012 with IU chemist Richard DiMarchi; IU biochemist William Turner; Dr. Uri Lopatin, an infection disease researcher based in San Francisco; and Indianapolis entrepreneur Derek Small. Small will be chief operating officer of Assembly Biosciences.

Eli Lilly and Co. signed a $45 million drug-development deal with United Kingdom-based biotech company Immunocore Ltd., according to the Wall Street Journal. Immunocore is trying to develop injectable cancer treatments that would direct the immune system’s T cells to get inside cancer cells and kill them. Immunocore will receive $15 million from Lilly upfront for each of three drug programs that have not yet entered human testing. If Lilly decides to take the treatments into the next stage of development, Immunocore can either receive a fee of $10 million to co-invest and develop the drugs or let Lilly develop the drugs while still retaining a right to future royalties if the drugs hit the market. Last year, Immunocore signed partnership deals with four other drug companies: Roche, GlaxoSmithKline, AstraZeneca and Adaptimmune. Immunocore and Adaptimmune were previously one company called Avidex, formed based on patents licensed from the University of Oxford.

Indiana will be one of up to 20 new states in which Minnesota-based UnitedHealth Group will compete on the Obamacare exchanges later this year. The health insurance giant sold on just four Obamacare exchanges for 2014, but will greatly expand its activity selling policies for 2015, according to the Associated Press. In Indiana, UnitedHealth has told the Indiana Department of Insurance it expects to sign up about 5,000 customers via plans sold under the All Savers brand. UnitedHealth representatives have told Indiana health insurance brokers that the company will make plans available for 2015, even though the specific states in which UnitedHealth will sell on the Obamacare exchanges has not been publicly released by the company. The exchanges, which are online marketplaces for health insurance, are the only place consumers can access Obamacare’s generous tax credits to reduce the cost of health coverage. UnitedHealth CEO Stephen Hemsley told Wall Street analysts on July 17 that the exchanges will become a more established part of future health care benefits, and UnitedHealth doesn’t want to enter those markets too late.

This isn’t what St. Vincent Health wanted. The Indianapolis-based hospital system’s clerical error of May 5, which sent 63,325 letters about patients' upcoming appointments to the wrong people, is now being cited by the information technology world as an example of the surge in data breaches. Trade publication PC World referred to the data breach at the St. Vincent Breast Health Center in an article headlined, “The 5 biggest data breaches of 2014 (so far)” (although the St. Vincent breach, in sheer number of people affected, wasn’t actually one of the five largest breaches). Also, SC Magazine, a trade publication for IT security professionals,  flagged the St. Vincent breach and even posted the letter the hospital system sent to its patients. According to the Identity Theft Resource Center, there have been 21 percent more data breaches publicly reported in the United States so far this year, compared with the same period in 2013.

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Construction

July 21, 2014

-Kort Builders has completed a 2,000-square-foot build-out for The Kolache Factory at 890 E. 116th St., Carmel.

-Kort Builders has completed a 7,000-square-foot build-out for PetPeople at Nora Plaza, 86th Street and Westfield Boulevard.

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People

July 21, 2014

Mainstreet has added the following employees:

Susan Bartle has joined as human resource generalist.

Anne Bearman has joined as an executive assistant.

Tim Roberts has joined as construction manager.

Brittany Shuler has joined as financial analyst.

Kit Werbe has joined as communications and media manager.

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Rates

July 21, 2014
The average rate for 30-year mortgages fell from 4.31 percent to 4.3 percent in the week ended July 17, according to Bankrate.com. The rate for 15-year mortgages fell from 3.41 percent to 3.4 percent.
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Leases/leasing contracts

July 21, 2014

-Kenco Logistic Services LLC leased 257,030 square feet in Browning/Duke Realty’s AllPoints at Anson Building 7A in AllPoints at Anson, Whitestown. The tenant was represented by Mark Writt of CBRE. The landlord, Duke Realty, was represented by Jay Archer and Mark Hosfeld of Duke.
 
-Fuzion Analytics Inc. leased 27,296 square feet at 550 Congressional Blvd., Carmel. The landlord, 550 REI Perennial LLC, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit. The tenant represented itself.

-Applied Engineering Services Inc. leased 13,745 square feet at 9100 Keystone Crossing. The tenant was represented by Brian Askins and Matt Waggoner of Cushman & Wakefield/Summit. The landlord, Equus Capital Partners Ltd., was represented by Abby Zito and John Robinson of JLL.

-Bubba's 33 leased 9,597 square feet at Greenwood Place, 7759-7921 S. US 31. The tenant was represented by Thompson Thrift. The landlord, The Broadbent Co., was represented by Joe Kenney of Broadbent.

-KE Labs leased 4,412 square feet at 3500 DePauw Blvd. The tenant was represented by Brian Askins of Cushman & Wakefield/Summit. The landlord, CP Pyramids Associates, was represented by Dave Moore of Cassidy Turley.

-Business Media Group leased 4,200 square feet at 8 W. Louisiana St. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Sadie Properties LLC, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit.

-Anytime Fitness leased 4,000 square feet at Washington Shoppes, 10009-10089 E. Washington St. The landlord, The Broadbent Co., was represented by Joe Kenney of Broadbent. The tenant represented itself.

-McGrady Hill LLC leased 3,764 square feet at Crosspoint Plaza One, 10475 Crosspoint Blvd. The tenant was represented by Mark McDermott of McDermott Commercial Inc. The landlord, Lexington Crosspoint LP, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit.

-Verizon Access Transmission Services leased 3,427 square feet at 550 Congressional Blvd., Carmel. The tenant was represented by Kevin Riley of CBRE.  The landlord, 550 REI Perennial LLC, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit.

-A-1 Cash Advance leased 1,200 square feet of retail space in Kroger Plaza, 1619 E. Michigan Road, Shelbyville. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-Delicias Jalisco 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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Correction

July 21, 2014
Samerian Foundation and Expo Center leased 2,035 square feet of office space in Auburn Woods Park, 9650 Commerce Drive. The tenant was represented by Sam Smith of Colliers International. The landlord, Sandor Development, was represented by Nick Roth of Sandor. The tenant rep was not listed in last week's Real Estate Weekly.
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Sales/acquisitions

July 21, 2014

-Ambrose Property Group bought the five-building, 436,000-square-foot former Safeco Corp. office complex at 500 N. Meridian St. The buyer was represented by Joseph DiSalvo and Matt Deahl of Marcus & Millichap. The seller, a group of investors led by N Meridian LLC, was represented by DiSalvo, Deahl and Forest Bender, also of Marcus & Millichap.

-AFC Enterprises, d/b/a Popeyes Louisiana Kitchen, bought a .96-acre outlot at Fishers Marketplace, State Road 37 and 131st Street, Fishers. The buyer was represented by Larry Davis and Steve Delaney of Sitehawk Retail Real Estate. The seller, ONB Realty I LLC, was represented by Chris Hake and Ryan Menard of Thompson Thrift Development.

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Sales/acquisitions

July 15, 2014
-Perk Hamilton LLC bought 1.81 acres at 141st Street and Olio Road, Noblesville. The buyer was represented by Bill French of Cassidy Turley. The seller, Interstate Co., was represented by Keith Fried of Sitehawk Retail Real Estate.

-Pulte Homes bought 32.84 acres at county roads 650 East and 500 South, Whitestown. The buyer was represented by Bo Leffel of Cassidy Turley. The sellers, Harrison and Jack Eiteljorg, represented themselves.
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Leases/leasing contracts

July 15, 2014
-CloudBlue, an Ingram Micro company, leased 111,296 square feet at 5345 Decatur Blvd. The tenant was represented by Andrea Hopper and Pete Quinn of Cushman & Wakefield/Summit. The landlord, Westcore Properties, was represented by Michael Weishaar of Cassidy Turley.

-Acuren Inspection Inc. renewed its lease for 30,240 square feet of industrial space at 7515 Company Drive. The tenant was represented by J.D. Graves of CBRE. The landlord, Panattoni Development Co., was represented by Luke Wessel and Grant Lindley of Cassidy Turley.

-Fatheadz subleased 24,042 square feet of industrial space at 510-514 W. Merrill St. The subtenant was represented by Paul Kite of Strongbox Commercial. The sublandlord, The Millcraft Paper Co., was represented by Patrick Lindley and Grant Lindley of Cassidy Turley.

-General Parts Inc. leased 8,800 square feet of industrial space at 7752-7796 Moller Road. The tenant was represented by Matt Jackson of Jackson Investment Group. The landlord, CrossLake Partners, was represented by Todd Vannatta and Fritz Kauffman of Cassidy Turley.

-Inka’s Restaurant leased 3,200 square feet of restaurant space in Honey Creek Plaza, 5356 W. 38th St. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-Verizon Wireless renewed its lease for 2,750 square feet of space in Cherry Tree Plaza, 9875 E. Washington St. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Real Estate Investment Securities Association Inc. leased 2,599 square feet of office space at 10401 N. Meridian St. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, Meridian Plaza LLC, was represented by Nick Trimpe of Zeller Realty Group.

-Circle City Pizza renewed its lease for 2,269 square feet of retail space in Esquire Plaza, 8245 Pendleton Pike. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Samerian Foundation and Expo Center leased 2,035 square feet of office space in Auburn Woods Park, 9650 Commerce Drive. The landlord, Sandor Development, was represented by Nick Roth of Sandor. The tenant represented itself.

-Hull & Associates leased 1,523 square feet of office space at 8445 Keystone Crossing. The tenant was represented by Bennett Williams and Andrew Martin of Cassidy Turley. The landlord, Northside Realty Partnership LLP, was represented by Kevin Dick and Paul Dick of Colliers International.  

-Pro Nail renewed its lease for 1,500 square feet of retail space in Cherry Tree Plaza, 9717 E. Washington St. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-UZOOX leased 1,454 square feet of retail space in Indy Pavilions, 7035 E. 96th St. The tenant was represented by William Wilson of Paragon Realty. The landlord, Sandor Development, was represented by Drew Kelly of Sandor.  

-Fred Loya Insurance leased 1,254 square feet of space in College Park, 3269 W. 86th St. The tenant was represented by Sharon Thompson of KW Commercial. The landlord, Sandor Development, was represented by Drew Kelly of Sandor.

-Tropical Foods N More Inc. leased 1,200 square feet of retail space at Crooked Creek Shoppes, 7940 N Michigan Road. The landlord, KLC Realty LLC, was represented by Greg Smith of Colliers International. The tenant represented itself.

-Troutman's Barber & Beauty Salon leased 1,037 square feet of retail space at Lafayette Center, 4233 Lafayette Road. The tenant was represented by Lisa Ruscetti of Evolution Development Group LLC. The landlord, Lafayette Center LLC, was represented by Greg Smith and Bill Marsh of Colliers International.
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Construction

July 15, 2014
-Capitol Construction has completed a 60,000-square-foot office expansion for Next Gear Capital at 11799 N. College Ave., Carmel.

-Capitol Construction has completed a 9,000-square-foot retail and office building for LOR Corp. at 1002 Broad Ripple Ave.

-Capitol Construction has completed a 1,600-square-foot health clinic for Midwest ISO at 720 City Center Drive, Carmel.
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Rates

July 15, 2014
The average rate for 30-year mortgages rose from 4.28 percent to 4.31 percent in the week ended July 10, according to Bankrate.com. The rate for 15-year mortgages rose from 3.4 percent to 3.41 percent.
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People

July 14, 2014

Indianapolis-based Healthx, which provides IT services to health insurers and employers, named Kathy Kinder chief financial officer. She was CFO for software firm Consona Corp., formerly called Made2Manage and now called Aptean. Kinder holds a bachelor’s degree in business with a concentration in accounting from Indiana University.

Dr. Wendy Schulte, a pediatrician, has joined St. Vincent Medical Group in Zionsville. Schulte earned a bachelor’s degree from the University of Wyoming, Laramie, and a medical degree from Indiana University School of Medicine in Indianapolis.

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Company news

July 14, 2014

Indianapolis-based EmotEd LLC, recently spun out of the Indiana University School of Medicine, received nearly $200,000 from the National Institutes of Health to develop video games to diagnose and improve emotional health. The company is based on research by EmotEd founder Dawn Newmann, a research professor at the medical school who also works at Rehabilitation Hospital of Indiana. The NIH money, which came via a Phase I Small Business Technology Transfer award, will allow EmotEd to build an initial platform and test it in a clinical setting. EmotEd will continue to seek non-dilutive funding through Phase II STTR mechanisms and through the Department of Defense.

Indianapolis-based Activate Healthcare is expanding its employer health care clinic operations into Wisconsin, according to Modern Healthcare magazine. Activate already manages 20 near- or on-site health clinics, used by 40 employers, in Indiana, Michigan, Ohio and Washington. Activate was created in 2009 by former Steak n Shake CEO Peter Dunn and ex-Harvard Vanguard Medical Associates CEO Debra Geihsler. Its clients include Monroe County government in Bloomington as well as Monarch Beverage Co. and Major Tool Co. in Indianapolis. Activate is one of a handful of Indiana-based clinic operators that have been growing rapidly and expanding into other states.

Indianapolis-based WellPoint Inc. this month started offering 4 million patients the ability to have e-visits with doctors, while Aetna Inc. says it will boost online access to 8 million people next year from 3 million now, according to Bloomberg News. The health insurers are joining companies such as Teladoc Inc., MDLive Inc. and American Well Corp. that offer virtual visits with doctors who, in some states, can prescribe drugs for anything from sinus infections to back pain. In Indiana, legislation passed this year gave the green light to WellPoint and American Well to partner with the American Health Network physician group to conduct a pilot program of the technology.

Biomet Inc. reported preliminary profit for the past 12 months of $36.8 million on sales of $3.22 billion. That's an improvement in profit of $660 million from fiscal 2013’s $623 million loss on consolidated net sales of $3.05 billion, according to the Fort Wayne Journal Gazette. Excluding extraordinary items, the Warsaw-based company earned $420 million for the year ended May 31. Biomet also reported fiscal fourth-quarter profit of $66.7 million on sales of $845 million, a $288 million improvement over the same period a year earlier when the company posted a $221 million loss on sales of $784 million. Zimmer Inc. in April offered to acquire Biomet for $13.35 billion. The Federal Trade Commission is considering implications of allowing the competitors to merge.

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Sales/acquisitions

July 8, 2014
-JAWCO, an investment group based in Minneapolis, bought the 108-unit Arbor Manor Apartments at 206 Churchill Drive, Mooresville. The seller, locally based Neff Rentals, was represented by Tikijian Associates. The buyer represented itself.

-Term Security Corp. bought the 153-unit Arrowwoods Apartments, 7135 Warrior Trail. The seller, Blue Valley Apartments Inc., was represented by Tikijian Associates. The buyer represented itself.

-Term Security Corp. bought the 220-unit Inverness Apartments, 5810 Sebring Drive. The seller, Blue Valley Apartments Inc., was represented by Tikijian Associates. The buyer represented itself.
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Leases/leasing contracts

July 8, 2014
-Performance Metals Inc. leased 21,400 square feet of industrial space at 2402 N. Shadeland Ave. The tenant was represented by Mark Writt of CBRE. The landlord, Shadeland South Business Park LLC, was represented by Todd Vannatta and Michael Weishaar of Cassidy Turley.

-Indiana State Teachers Association renewed its lease for 19,083 square feet at 150 W. Market St.  The landlord, National Education Association, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit. The tenant represented itself.

-Drillers Service Inc. leased 13,350 square feet at 3930 Perry Blvd., Whitestown. The tenant was represented by Cam Kucic of Cushman & Wakefield/Summit. The landlord, Crest I LLC, was represented by Grant Lindley of Cassidy Turley.

-Cardinal Publishing Group leased 12,700 square feet of industrial space at 2402 N. Shadeland Ave. The landlord, Shadeland South Business Park LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley. The tenant represented itself.

-Big Car leased 3,600 square feet of retail space in Lafayette Place, 3743 Commercial Drive. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-First Construction Consultants leased 3,559 square feet of office space in Auburn Woods Park, 9650 Commerce Drive. The landlord, Sandor Development, was represented by Lawrance Morrissey of Corporate Commercial Group. The tenant represented itself.

-Capital Cities LLC leased 2,986 square feet at 47-49 N. Meridian St. The tenant was represented by Matt Waggoner of Cushman & Wakefield/Summit. The landlord, Bruce A. Bodner Co. Inc., was represented by Alex Cantu of Cushman & Wakefield/Summit

-The Tailgate leased 2,400 square feet of retail space in McFarland Marketplace, 8028 S. Emerson Ave. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Metro PCS lease 1,820 square feet of retail space in East 40, 8524 E. Washington St. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Produce Careers leased 1,740 square feet of office space in Auburn Woods Park, 9640 Commerce Drive. The landlord, Sandor Development, was represented by Lawrance Morrissey of Corporate Commercial Group.  The tenant represented itself.

-CPR Institute leased 1,600 square feet of retail space in McFarland Marketplace, 8028 S. Emerson Avenue.  The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Book Trader leased 1,400 square feet at Castleton Shoppes, 6024-6066 E. 82nd St. The landlord, The Broadbent Co., was represented by Jim Mosher of Broadbent. The tenant represented itself.

-TAG Salon leased 1,260 square feet of retail space in Meridian Parke Shoppes, 3115 Meridian Parke Lane, Greenwood. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-The Asian Grocery leased 1,200 square feet of retail space in McFarland Marketplace, 8028 S. Emerson Ave.  The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Servi-Call renewed its lease for 1,200 square feet of retail space in 69th & Michigan, 6999 Michigan Road. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-EX Nails renewed its lease for 1,200 square feet of retail space in College Park, 3269 W. 86th St. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.
 
-Red Door Property Management leased 854 square feet of office space in Auburn Woods Park, 9640 Commerce Drive. The landlord, Sandor Develompent, was represented by Lawrance  Morrissey of Corporate Commercial Group. The tenant represented itself.
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Rates

July 8, 2014
The average rate for 30-year mortgages was unchanged at 4.28 percent in the week ended July 3, according to Bankrate.com. The rate for 15-year mortgages rose from 3.39 percent to 3.40 percent.
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Construction

July 8, 2014
-Capitol Construction has completed a 9,400-square-foot office expansion for Nyhart at 8415 Allison Pointe Blvd.

-Capitol Construction has completed a 6,900-square-foot retail build-out for Two Deep Brewery at 714 N. Capitol Ave.

-Capitol Construction has completed a 3,500-square-foot office build-out for Pinnacle IT Solutions at 3535 E. 96th St.
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