A major downturn in commercial real estate was inevitable, but the depths have surprised even seasoned industry veterans.

— Belkin International Inc. renewed its lease for 798,096 square feet at Airtech 1, 558 W. Airtech Parkway, Plainfield. Andrew Morris, Jeremy Woods and Matt McGrady of Summit Realty Group represented the tenant. The distribution center landlord, ProLogis, represented itself in the transaction.

— Defender Direct Inc. leased 23,166 square feet at 3939 Priority Way South Drive, in The Precedent Office Park. Scott H. Lindenberg and Ronald D. Foster of Echelon Realty Advisors represented the tenant. The landlord, PP Indianapolis V Project Corp., was represented by Rick Trimpe of CB Richard Ellis.

— American Physical Medicine and Rehabilitation PC leased 3,292 square feet of office space at 6612 E. 75th St. Matt Jackson of Halakar Real Estate represented the tenant. The landlord, 6612 East 75th Street Corp., was represented by Andrew Martin of Colliers Turley Martin Tucker.

— Indiana Children’s Wish Fund Inc. leased 2,287 square feet of office space at 6435 Castleway West Drive. Jeff Castell of Colliers Turley Martin Tucker represented the tenant. The landlord, Brookfield Real Estate Opportunity Group, was represented by David A. Moore and Darrin L. Boyd, also of Colliers.

— Dr. Rusty Neal DDS leased 2,348 square feet of retail space at 9893 N. Michigan Road in the West Carmel Marketplace Shoppes. James Marron of UGL Equis represented the tenant. The landlord, CASTO, was represented by Jacque Haynes and John Byrne of Colliers Turley Martin Tucker.

— HRC Medical of Indiana LLC leased 1,887 square feet of office space at 10173 Allisonville Road. Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker represented the tenant. The landlords, James T. and Dorothy E. Ward, were represented by Kurt Meyer of Baseline Inc.

— Cortese Dermatology leased 1,996 square feet of office space at 8921 Southpointe Drive. Tom Cortese of Acorn Group represented the tenant. The landlord, NNN Southpointe LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker.

— Leitz Out Concepts Inc. leased 1,759 square feet of office space at 3500 DePauw Boulevard. Justin Smith of Steinco represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore and Darrin L. Boyd of Colliers Turley Martin Tucker.

Bluestone Property Management, based in Amherst, N.H., is an investor in the recent purchase of Lake Castleton Apartments by a New York-based hedge fund. Last week’s Real Estate Weekly cited the wrong Bluestone, a company based in Houston.

Indy Management Group Inc. bought the two-building Sherman Commons retail strip center at 3709 E. Washington St. for $1.05 million. The buyer, which is a tenant in the 22-year-old center, was represented by Herb Feldmann and Cindy Hoskinson of Grubb & Ellis Harding Dahm & Co. The seller, Sherman Commons Associates LLC, was represented by Brian T. Southworth and Nathan D. Whalen of the local office of Marcus & Millichap Real Estate Investment Services. The center is 80 percent occupied.

On a seasonally adjusted basis, the pace of mortgage loan activity fell 10.7 percent for the week ended Dec. 18, according to the Mortgage Bankers Association. Rates for 30-year loans were steady for the week at 4.92 percent. Fifteen-year mortgages increased to 4.34 percent from 4.33 percent the previous week.

Jan. 1
Indianapolis Civic Theatre
    The well-trod path down the Yellow Brick Road gets a resurfacing at this “Wizard of Oz” stage performance in which audience members can join in on the songs and familiar lines. Also encouraged: Dressing up for a costume competition. Arrive early (6:30) for pre-show vocal warm-ups. Details here.
 

Dec. 31
Hilbert Circle Theatre
    The Indianapolis Symphony Orchestra may not have toured lately, but for this year-ending concert, it will be symbolically traveling to Vienna. The music is by Strauss and the after-party features the Paul Berns Band. Dance Kaleidoscope and soprano Jacqueline Brecheen (recently seen in Indiana University Opera’s “The Magic Flute”) are along for the ride. Details here.
 

Jan. 1
Caleb Mills Auditorium, Shortridge High School
    Here’s an optimistic way to start 2010. A parade of young Indianapolis talent—many at home from college on holiday break—take turns belting out the best of Broadway, new (including tunes from “Cry-Baby” and “In the Heights”) and old. Participants include Jessica Murphy and Brook Wood, whom I praised in “Songs for a New World” back in 2008. Tickets are a mere $8 and proceeds benefit the Shortridge Speech Team. For details, call 440-1372.

 

Jan. 1
Harrison Center for the Arts
    For the first First Friday of the decade (depending on how you are counting), the Harrison Center for the Arts offers its usual/unusual mixed bag. The main exhibition, “Hair of the Dog,” features the work of artist Quincy Owens. Learn more about the artist here: http://www.indyarts.org/meetindyartists.aspx?ty=key&lr=Quincy%20Owens&id=6506.
But, in true Harrison Center fashion, that’s not all. The Heartland Film Festival will be screening some of its Crystal Heart Award-winning shorts, including “Jitensha (Bicycle) and “Validation,” while, in the gymnasium, bicycle polo will be played. Works by Herron High School students will also be on display. Details here.
 

Exemption for not-for-profit health plans could saddle WellPoint with nearly $2 billion a year in new taxes.

We talk about the spectrum of political ideology, but last week on health care reform, it became more of a circle as liberals joined conservatives in criticizing the Senate health reform bill.

A Denver-based company that just sold its largest Indianapolis apartment complex has taken its four remaining local properties off the market.

An item in last week’s Real Estate Weekly listed the wrong landlord for Providence Shoppes, 12545 Old Meridian St., Carmel. The landlord for the center, where Stacked Pickle leased 4,313 square feet, is Providence Partners LLC.

On a seasonally adjusted basis, the pace of mortgage loan activity increased three-tenths of a percent for the week ended Dec. 11, according to the Mortgage Bankers Association. Rates for 30-year loans increased to 4.92 percent from 4.88 percent the previous week. Fifteen-year mortgages were unchanged at 4.33 percent.

-D.B. Klain Builders LLC, Carmel, has started a 1,162-square-foot tenant build-out for Edward Jones & Co. at 2159 Glebe St. The project is scheduled to be completed Jan. 5.

-GVK Contracting + Remodeling, Westfield, has completed a 35-day, 1,420-square-foot build-out for Saku Japan restaurant at Hamilton Town Center, Noblesville.

-Domain Contractors has completed a 6,000-square-foot office remodel for Caregivers Inc., 3536 Washington Blvd.

-Performance United LLC bought a 380,000-square-foot warehouse at 5352 Performance Way that is fully occupied by LaCrosse Footwear Inc. The seller of the building, a joint venture of Browning Investments and ProLogis, was represented by John Huguenard, Kim Estes and Angie Wethington of Colliers Investment Services Group. Financing for the purchase was provided by a national life insurance company and arranged by Jon Goldstein, Christian Miles and Phil Mudd, also of Colliers Investment Services. The purchase price for the building, which was completed last March, was not disclosed.
 

Dec. 30
Murat Theatre
Opting out of the New Year’s Eve hubbub? Here’s a night-before option. And a quick Chris Isaak quiz:
1.    What Stanley Kubrick film featured Isaak’s “Baby Did a Bad, Bad Thing”?
2.    What David Lynch film featured Isaak’s “Livin’ for Your Lover”?
3.    What Jonathan Demme film featured Isaak’s “Suspicion of Love”?
For more details on the concert, click here.  Quiz answers can be found at the bottom of the Laughin’ on the Avenue item, below.

Dec. 29-Jan. 3
Clowes Hall
The Broadway in Indianapolis subscription season gets a late start, but from here on, the touring shows roll steadily into town. First up is the Oprah Winfrey-produced/endorsed musical version of Alice Walker’s acclaimed novel. Leading the cast is Kenita R. Miller, who has been on my want-to-see-list since I saw her in a YouTube clip from the musical “Dessa Rose” (don’t search it unless you are ready to weep). Also in the company, original cast member (and Tony nominee) Felicia P. Fields and season three “American Idol” semi-finalist Latoya London.
As with the rest of the Broadway in Indianapolis subscription series, I’ll be hosting talk back sessions with cast and crew after the Wednesday night performance. Have your questions ready. Details here. .
 

Dec. 29
Madame Walker Theatre Center
In need of some laughs to shake off the holiday blues? Indianapolis has its share of comedy clubs, but there’s also this monthly series at the Madame Walker, which isn’t taking time off just because the weather outside is frightful. Note: Performances are labeled as “uncut, uncensored, off-the-hook.” Details here. Answers to Chris Isaak quiz, above: 1. “Eyes Wide Shut.” 2. “Blue Velvet.” 3. “Married to the Mob.”
 

As the horse-trading focuses on a Medicare expansion and public option—both of which appear to be on the way out—a rhetorical battle is raging on whether ObamaCare health care reform will help or hike costs.

Mathematica Policy Research, which last studied Indiana in 2004, will now examine Healthy Indiana Plan.

Polls show public likes proposed Medicare expansion and public option, but does not like overall Senate bill.

B&D Consulting, a Washington-based lobbying arm of Indianapolis law firm Baker & Daniels LLP, acquired the consulting practice of Dr. Tim Franson, who will now lead the B&D Consulting regulatory affairs practice.

Richard Helsper became chief operating officer at Muncie-based Ball Memorial Hospital, a subsidiary of Clarian Health, on Dec. 1. Helsper joined Clarian in 2003 and has worked to improve operations at the Midwest Proton Radiotherapy Institute in Bloomington, Clarian Arnett Hospital in Lafayette and at Ball Memorial.