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Also this week

May 5, 2010

Pearl Jam, May 7 at Verizon Wireless Music Center. Details here.

Bryan Adams, May 12 at Murat Egyptian Room. Details here.

“Always Patsy Cline,” May 6 to June 6 at Beef & Boards Dinner Theatre. Details here.

Works by local women playwrights are staged at Divafest, May 7-9 at the IndyFringe Building. Details here.

Indianapolis Symphony Orchestra and Time for Three, May 6 at Hilbert Circle Theatre. Details here.

Violinist Lara St. John joins the Indianapolis Chamber Orchestra for a program including Vivaldi’s “The Four Seasons,” May 8 at the Indiana History Center’s Basile Theatre. Details here.
 

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Correction

May 4, 2010
The landlord was misidentified in three Keystone Crossing leases reported last week. The landlord, represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle, is BPG Properties Ltd.
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Leasing/leasing contracts

May 4, 2010
-K&G Menswear leased 39,963 square feet at Castleton Crossing, 5410 E 82nd St. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, American National Insurance Co., was represented by Bill French of Cassidy Turley.

-Advanced Control Technologies Inc. subleased 11,820 square feet at Hillsdale TechneCenter, Building 3, 6805 Hillsdale Court. The subtenant was represented by Aasif Bade of Ambrose Property Group. The sublandlord, Reliable Water Services LLC, was represented by Don Ballard and Stan Elser of Grubb & Ellis Harding Dahm & Co.

-is.group leased 7,677 square feet at Parkwood One, 250 E. 96th St. The tenant was represented by Jon Jessup and Jeff Merritt of Summit Realty Group. The landlord, Duke Realty, represented itself.

-Shoe Trend leased 6,000 square feet at Keystone Plaza, 2335 E. 53rd St. The landlord, Keystone Plaza Associates, was represented by Larry Davis and Scott Gray of Sitehawk Retail Real Estate. The tenant represented itself.

-Center for Diagnostic Imaging/CDI Radiology leased 4,283 square feet of medical office space at Gables of Avon, 9819 E. US 36, Avon. The tenant was represented by Tim Norton of Summit Realty Group. The landlord, Gables of Avon LLC, represented itself.

-Who North America Inc. leased 4,000 square feet at 2040 S. Lynhurst Drive.  The tenant was represented by Ryan Kelly of Summit Realty Group. The landlord, ProLogis, was represented by Chris Black of CB Richard Ellis.
 
-Kforce leased 3,743 square feet at Pan Am Plaza, 201 S. Capitol Ave., Suite 1200. The tenant was represented by Katie Gray and Bill Ehret of Summit Realty Group.  The landlord, Coastal Partners, represented itself.
 
-First American Title Insurance leased 2,376 square feet of office space at 20 Executive Drive, Carmel. The tenant was represented by Matt Waggoner of Summit Realty Group. The landlord, Century 21, represented itself.

-American Family Dental Group-Bloomington LLC leased 2,296 square feet at 10435 Commerce Drive, Carmel. The tenant was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley.  The landlord, West Carmel I LLC, was represented by Matt Moore of Resource Commercial Real Estate Services.

-20/20 Eye Physicians leased 2,095 square feet of medical office space at the Clarian Health Center at 4880 Century Plaza. The tenant was represented by Tim Norton of Summit Realty Group. The landlord, Clarian Health Partners Inc., was represented by Tim Craft of CB Richard Ellis.
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Housing

May 4, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity fell 2.9 percent for the week ended April 23, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 5.08 percent from 5.04 percent the previous week.  The rate for 15-year mortgages increased to 4.38 percent from 4.34 percent.
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Construction

May 4, 2010
-Kort Builders has finished a 4,000-square-foot retail space for Ossip Optometry at 6375 S. Emerson Ave.

-Kort Builders has finished a 5,000-square-foot retail space for Reis Nichols at 789 U.S. 31 North, Greenwood.
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Q&A

April 28, 2010
J.K. Wall
Dr. Stanley Adkins is chief medical officer of Indianapolis-based AmeriVeriCR, a startup that uses software to review medical claims for errors. With health care reform and a new, larger set of diagnosis codes phasing in over the next few years, AmeriVeri is betting that demand for its service will increase.
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Chao exit hurts drug development industry

April 28, 2010
J.K. Wall
Purdue University’s decision to close the Chao Center in West Lafayette is a setback for Indiana’s effort to grow a vibrant contract drug manufacturing sector. But it’s just the latest in a series of unexpected changes—not all for the worse—since Indianapolis-based BioCrossroads launched a contract drug manufacturing initiative in late 2007.
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People

April 28, 2010
Chad Priest, a registered nurse and attorney, has been appointed CEO of Managed Emergency Surge for Healthcare Inc., which aims to expand the capacity for central Indiana to provide medical and surgical care in the event of a disaster. Priest has been practicing health law at the Baker & Daniels law firm in Indianapolis. He also is an adjunct instructor at the Indiana University School of Nursing.

Dr. Eileen Thomason, Dr. Jason Reiser, Dr. Richard Rejer, and Dr. Brian Miles—all part of Southeast Family Medicine—have joined the St. Francis Medical Group, which has grown to more than 120 doctors.

Marie Swanson, IUPUI’s associate vice chancellor for public health, has been appointed to an advisory panel to the U.S. Centers for Disease Control and Prevention, focused on toxic substances.

Alliance Home Health Care, a skilled provider of senior home health care, announced that Deborah Rood, a registered nurse, has joined the company as its clinical director.

Indianapolis-based Harlan Laboratories Inc. has named Hans Thunem its new CEO. Thunem was previously president of research models and services at Harlan, a contract research organization that focuses on animal testing. Harlan’s previous CEO was Steve Sullivan, who joined Harlan from Covance Inc. in 2006. Sullivan stepped down in December.

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Reform to accelerate health care costs

April 28, 2010
J.K. Wall
Medicare actuary Richard Foster estimated the new law would raise overall health care spending by an additional $311 million over current law—more than when he first examined the legislation in December.
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"Pasticco"

April 28, 2010

April 30
Basile Opera Center

Think of it as operatic cabaret. Proving that it does more than just stage full-scale, big-ticket productions, the Indianapolis Opera’s new series offers a chance to get up close and intimate with the music—for a mere $15 ticket. The performance features up-and-coming members of the Indianapolis Opera Ensemble supplemented by other pros who have worked with the company. Music for the casual evening includes works by Mozart, Rossini and Verdi. Details here.
 

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"Legally Blonde: The Musical"

April 28, 2010

May 4-9
Clowes Hall

The producers of “Legally Blonde: The Musical” took a huge chance when, during the show’s Broadway run, they chose to air the entire shot-from-the-stage show on MTV. I’m not sure what effect that had on the rest of the musically inclined (or the new audience it hoped to tap), but the TV presentation actually convinced me that what might have been just another movie-to-stage cash-in actually had some merit.

Staying close to the hit Reese Witherspoon film, the show (which I’ve yet to see live), for the most part knows which moments to musicalize and when to play the sincerity card. Highlight for me: a loopy, surprisingly sweet, laugh-out-loud song called “Ireland” for hairdresser/confidant Paulette and “Chip on Your Shoulder,” a good tune for nice guy Emmett. And an added plus: Michael Rupert, from the original cast of the show (and from the original cast of "Falsettos" and "The Happy Time" is still with the show.

I’ll be hosting a talk back with cast members after the Wednesday evening performance. Stick around. Details here.

 

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"Chew on This"

April 28, 2010

May 4
Various locations

Want to upgrade the quality of your dining conversations? Fifteen locally owned restaurants and community locations will be hosting chats on Tuesday based on Richard Longworth’s book “Caught in the Middle: America’s Heartland in the Age of Globalism.” This isn’t a mass book club meeting, however. In fact, there’s no need to have read the book. Just bring an appetite and a desire to discuss Indiana foods.

There’s a different price per restaurant, ranging from $50 a person at R Bistro, Recess and Rick’s Café Boatyard to free pitch-ins at the University of Indianapolis, St. Luke’s United Methodist Church, the Indiana Humanities Council and other spots. Details here.
 

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"Scheherazade"

April 28, 2010

April 29-May 1
Hilbert Circle Theatre

The name-recognition draw for this Indianapolis Symphony Orchestra concert is Rimsky-Korsakov’s musical take on the story of the princess who tries to thwart her murderous husband through storytelling. But there’s also an interesting undercard, which includes “Mariel,” by Osvaldo Golijov.

The Argentinean composer has had a busy last few years, including the score for Francis Coppola’s films “Youth Without Youth” and “Tetro,” a new opera for the Met, a song cycle for classical stars Emanuel Ax and Dawn Upshaw, a cello concerto for Yo-Yo Ma, and a sold-out Lincoln Center festival of his music. Says the composer about “Mariel,” which premiered at Carnegie Hall in 2008: “I attempted to capture that short instant before grief, in which one learns of the sudden death of a friend who was full of life.” Details here.
 

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Leasing/leasing contracts

April 27, 2010
-Chemque Inc. renewed its lease for 19,200 square feet at 6101 Guion Road. The tenant was represented by Rick Suja of Summit Realty Group. The landlord, Grand Prix Properties, was represented by Chip Barnes of NAI Olympia Partners.

-Benefit Associates leased 9,355 square feet at 9000 Keystone Crossing. The tenant was represented by Brian Askins of UGL-Equis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.

-RBC leased 7,956 square feet at 8888 Keystone Crossing. The tenant was represented by John Vandenbark of CB Richard Ellis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.

-Thompson Pump Midwest leased 5,765 square feet at 8775 Zionsville Road. The tenant was represented by Steve Schaub of Summit Realty Group. The landlord, Kentucky Avenue Land Company, was represented by John Demaree of Summit.

-APEX Benefits Group leased 4,713 square feet at 8500 Keystone Crossing. The tenant was represented by Dan Richardson of CB Richard Ellis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.

-Employment Plus leased 3,200 square feet of office space at Two Metroplex, 8383 Craig St. The tenant was represented by Matt Kiger of Halakar Commercial Real Estate. The landlord, Two Metro LLC, was represented by Ted McClure of McClure Real Estate.

-Pulse Creative Partners Inc. leased 2,033 square feet of office space at 427 S. College Ave. The landlord, Deylen Realty Inc., was represented by Sandra Jarvis of IndySQUARED. The tenant represented itself.
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Construction

April 27, 2010
-S&B Construction has been hired to build the 3,000-square-foot Coatesville Community Center in Coatesville.

-S&B Construction has been hired to do a 6,000-square-foot tenant build out for Advance Auto Parts in Avon.
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People

April 21, 2010

Ann M. Peraud has joined the health and life sciences practice group at the local law firm of Baker & Daniels LLP. Peraud earned a master's degree in health administration from the University of Iowa in 2009 after graduating from the University of Iowa College of Law and the University of Notre Dame with a bachelor of arts degree.

BioCrossroads, an Indiana life sciences advocacy organization, named four new people to its board of directors: Richard P. Jones II, general manager at Medco Health Solutions in Whitestown; Jan Lundberg, president of Lilly Research Laboratories in Indianapolis; Jon C. Serbousek, president of Biomet Orthopedics in Warsaw; and Deborah L. Tanner, president of Central Laboratory of Covance Inc. in Indianapolis.

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Company news

April 21, 2010

Facing the tighter restrictions of health reform at home, WellPoint Inc. wants to follow just about every other U.S. company in seeking growth in China. WellPoint CEO Angela Braly traveled to China last week to seek out a joint venture partner to offer health insurance to the nation’s upwardly mobile population. "If everything moves on smoothly, we are targeting 2011 for offering health insurance services through the venture,” Braly told the China Daily newspaper. Indianapolis-based WellPoint already has a joint venture with three other American health insuers to provide medical management consulting to Chinese insurance companies. But with China going through its own version of health reform, private health insurance is poised to become a popular complement to government insurance programs, according to China Daily. China's health insurance premiums totaled $1.6 billion in the first two months of this year, according to the industry regulator, up 34 percent from the same period last year. Such growth is enticing to WellPoint, which has been losing customers and premiums at home.

Whew! Bioanalytical Systems Inc. gets to stay on the NASDAQ Capital Market after a recent surge kept its share price above $1 for three straight weeks. NASDAQ had threatened in March to delist the West Lafayette-based company if its stock price didn’t improve. The company’s shares closed at $1 apiece on March 31 and haven’t dipped below that level since. Bioanlytical provides contract research services and monitoring instruments to drug-development companies and medical research organizations.

After months of rumors, Roche Diagnostics finally acquired Israel-based Medingo Ltd., which has a semi-disposable insulin patch pump that Roche hopes to couple with its blood glucose meters. Roche, which is based in Switzerland but runs its North American business out of Indianapolis, paid $160 million for Medingo and promised various payments if the company’s product achieves key milestones in its development and sales. The product is set to launch in 2012. Roche holds the largest market share worldwide in devices for diabetes care, but it has been losing ground to competitors in the U.S. market.

Warsaw-based Biomet Inc. posted a $3.1 million loss in its quarter ended Feb. 28, a big improvement from its $479 million loss in the same quarter a year earlier. Last year’s results were dampened by a $449 million impairment charge that Biomet recorded on its dental business. But this year, the loss narrowed as sales surged 9 percent to $670 million in the quarter, driven by a 17-percent spike in sales of knee implants. Cash flow rose 9 percent to $251 million, up from $229 million in the same quarter a year earlier. Biomet’s financial results often are a bellwether for other orthopedic implant companies, which report their quarterly results later this month.

Carmel-based technology firm Gemms Inc. plans to invest $2.1 million to expand its headquarters and software development operations here, more than doubling its staff in the next five years, according to the Indiana Economic Development Corp. Gemms, which develops electronic medical record systems for cardiology practices, has 40 employees now and plans to add 69 more by 2015.

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Drug prices rise ahead of rebates

April 21, 2010
J.K. Wall
Drug prices rose faster last year than they have in a decade—just in time for big rebates the drug industry promised as part of the health reform law.
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"A Celebration of the Life and Legacy of Ryan White"

April 21, 2010

April 28
Clowes Hall

 The Children’s Museum of Indianapolis and the Elton John AIDS Foundation present this special event honoring Ryan White, whose battle with HIV/AIDS helped change perception of the disease. The evening includes a performance by Elton John—who connected with White after the student was asked to name his favorite celebrity—and appearances by Phil Donahue; actress Judith Light; and White’s mother, Jeanne White-Gardner. Details here.
 

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Stutz Artists Open House

April 21, 2010

April 23-24
Stutz Building

 One of the reasons the Stutz Artists Open House is such a fun event is that the wonderful building itself is so difficult to navigate. You think you’re going one way, you’re really going another. Stairways don’t seem to lead where you expect them to. And that gallery you visited that you thought was down this corridor really isn’t. Sometimes, it feels like being trapped in an M.C. Escher drawing.

Why is that good? Because it adds a greater sense of discovery to this annual event, where about 70 artists open their studio doors to visitors, increasing the chance that you are going to find something you weren’t necessarily looking for.

This year’s event includes food and drink not just from the building’s Bearcats eatery but also from nearby Creation Café/Euphoria, Judge’s Bar-B-Que and more. Cynthia Laine and others provide the music. And Turner Woodard’s car collection adds to the unique sense of place. If 10:30 is too early for you to call it a night on Friday, follow the crowd to the after party at ARTBOX Gallery, conveniently located in the Stutz II Building. Details here.

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Intermedia Festival

April 21, 2010

April 23-25
Central Library and IUPUI’s ICTC Complex

 

If you think Indianapolis is a town that tends to look backward rather than forward when it comes to the arts, consider a visit to Central Library this weekend. There, dancers, musicians, visual artists and artists you’ll have trouble classifying take part in this festival of next-wave creativity.

The lineup includes composer/performer Pamela Z, whose bag of tricks includes “gesture-activated MDA controllers”; Bora Yoon, who creates “architectural landscapes from found objects”; Big Robot, a band that mixes live musicians with “computer and media interactivity”; and MPG: Mobile Performance Group, which attempts to engage using “automobiles, video projection, cell phones, FM transmission, wireless hotspots, and any other technologies that allow artists to engage the public.” Forgive me for using so many quotation marks but, in these cases, I find it necessary to accept the performers’ own definitions of what they do.

The ambitious, one-of-a-kind weekend has been honchoed by Festival Director Scott Deal, a professor of music at IUPUI. For details, and to reserve free tickets, click here.

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"Around the World in 80 Days"

April 21, 2010

April 27-May 16
Indiana Repertory Theatre

When Jules Verne’s novel “Around the World in 80 Days” became a big-budget movie, it featured a who’s who of big-name stars in parts large and small, including David Niven, Peter Lorre, George Raft, Frank Sinatra, Buster Keaton, Shirley MacLaine and Noel Coward.

When the Indiana Repertory Theatre opens its stage production of the popular story this week, the actors will be relative unknowns (many of them first-timers to the IRT stage), and there will be only five of them.

How will the IRT take us around the world on a single stage? That’s part of the anticipated pleasure of seeing this globe-trotting play, which has been a hit at regional theaters across the country. Details here.

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Sales/acquisitions

April 20, 2010
Bauer Ventures LLC bought a 6,400-square-foot office building at 2555 Fairview Place, Greenwood. The price wasn’t disclosed. The buyer was represented by Casey Raker of ReMax Select. The seller, JMS Investments Inc., was represented by Cathy Richards of Grubb & Ellis Harding Dahm & Co.
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Leases/leasing contracts

April 20, 2010
-Welch & Wilson Properties LLC, a third-party logistics firm, leased 115,557 square feet at 315 W. New Road, Greenfield. The owner/landlord, California State Teachers' Retirement System, was represented by Mark Writt and Tom Cooler of CB Richard Ellis. The tenant represented itself.

-Phoenix Resource Management renewed its 35,200-square-foot lease at 923 Whitaker Road, Plainfield. The tenant was represented by Rick Suja of Summit Realty Group. The landlord, ProLogis, represented itself.

-Walgreens Co. terminated its lease for 12,455 square feet at 2710 W 16th St. The tenant was represented by Larry Davis and Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Kin Properties, represented itself.

-Noblesville Hometown Sears leased 8,500 square feet at Clover Creek Commons, 17160 Dragonfly Drive, Noblesville. The tenant was represented by Pat Manifold of F.C. Tucker Co. Inc. The landlord, National Bank of Indianapolis, was represented by Ralph Balber and Ashley Bussell of Halakar Real Estate.

-BT Human Resources Consulting LLC leased 7,400 square feet of office space at Station Place, 200 S. Meridian St. The tenant was represented by Stephen Adams of Hokanson Cos. The landlord, Station Place LLC, was represented by Ralph Balber and Ashley Bussell of Halakar Real Estate.

-Findling Park Associates PC leased 4,092 square feet at M&I Plaza, 135 N. Pennsylvania St. The tenant was represented by Herb Feldmann and Cindy Hoskinson of Grubb & Ellis Harding Dahm & Co. The landlord, North Penn Associates, was represented by Jon Owens and Russell Van Til of Cassidy Turley.

-Mattison Corp., an association management firm, leased 2,300 square feet of office space at Station Place, 200 S. Meridian St. The landlord, Station Place LLC, was represented by Ralph Balber and Ashley Bussell of Halakar Real Estate. The tenant represented itself.
 
-Pulse Creative Partners Inc. leased 2,033 square feet of office space at 427 S. College Ave. The landlord, Deylen Realty Inc., was represented by Sandra Jarvis of IndySQUARED. The tenant represented itself.

-45 Minute Cleaners leased 1,600 square feet at 30th & Kessler Center, 2966 N. Kessler Blvd., West Drive.  The landlord, DEWERCS LLC, and tenant were represented by Herb Feldmann and Cindy Hoskinson of Grubb & Ellis Harding Dahm & Co.

-Movie Tyme, a movie production company, leased 1,500 square feet in Sycamore Springs Office Park, 4735 Statesman Drive. The landlord, MSE Realty LLC, was represented by Ralph Balber and Ashley Bussell of Halakar Real Estate. The tenant represented itself.

-Noblesville Martial Arts Studios leased 1,250 square feet at Harbourtown Center at Little Chicago Road and East 211th Street. The landlord, Harbourtown Center LLC, and the tenant were represented by Bill Ernst of Charter Commercial Realty Group.

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Construction

April 20, 2010
-S&B Construction has completed a 52,000-square-foot auditorium addition to Northview Church, 12900 Hazel Dell Parkway, Carmel. The architect was Champlin Architects.

-Kort Builders has completed a 20,000-square-foot office space for Banc Serv at 777 E. Main St., Westfield.

-Kort Builders has completed a 3,000-square-foot retail space for Urth Tones at 11680 Commercial Drive, Fishers.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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