newsletter.story

Three Dollar Bill's "Mustache Weather"

February 3, 2010

Feb. 5 to March 12
ComedySportz Theatre


This group of Friday-night knuckleheads returns with its latest revue of all-new sketch comedy material. We’ll have to wait and see what that means but, in the meantime,

here’s

my revue of the talented company’s first show, staged just over a year ago. Details on the new show

here

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Also this week:

February 3, 2010

Shirley Caesar and CeCe Winans are among the performers set for “Gospelfest,” Feb. 6 at Clowes Hall. Details here.

IU Opera presents “Lucia di Lammermoor,” Feb. 5-13 at IU Musical Arts Center, Bloomington. Details here.

Jeff Foxworthy, Bill Engvall and Larry the Cable Guy join forces Feb. 6 at Conseco Fieldhouse. Details here.

The Eiteljorg Museum presents "Pistols: Dazzling Firearms," Feb. 6-April 18. Details here.

 

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Cincinnati investors buy apartment complex anchored by mansion

February 2, 2010
Tom Harton
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550 Cold Spring Road on Dec. 30.
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People

February 2, 2010

Richard Shepperd is retiring as president and CEO of Bioanalytical Systems Inc., a West Lafayette-based provider of clinical research services and equipment. Sheppard already surrendered his position as president, and the company’s board named Anthony Chilton, the company’s chief operating officer, interim president. The board said it would conduct a national search for a new CEO. Shepperd, 69, became CEO in September 2006 and had agreed to stay no later than December 2009. During his tenure, Bioanalytical’s stock lost 85 percent of its value.

Dr. Michael Langley has joined Carmel-based Anson Group as a regulatory consultant. Langley retired from Eli Lilly and Co., having served in many roles, including director of regulatory affairs and clinical research.

Dr. Shanna Bowman and Dr. Stacey Smith have joined County Line Pediatrics, a new practice on South Emerson Avenue that's part of St. Francis Medical Group. Both Bowman and Smith earned their medical degrees at the Indiana University School of Medicine.

The Indiana Health Industry Forum made Kristin Jones its president and CEO after she had performed those jobs on an interim basis since 2008. Also, the health and life sciences group named former Roche Diagnostics executive Joerg Schreiber chairman.

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Correction

February 2, 2010
Alpha Sigma Tau recently purchased a 10,790-square-foot building at 3334 Founders Road. The name of the sorority was incorrect in the Jan. 26 Real Estate Weekly.
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Sales/acquisitions

February 2, 2010
-GCP Investment LLC has acquired the senior mortgage debt on Georgetown Commerce Park, a two-building industrial property at 7301 N. Georgetown Road. The 84,000-square-foot distribution building and 64,900-square-foot flex building went into foreclosure in mid-2009. GCP Investment, which includes Brian Mann of Mann Properties and Kurt Meyer of commercial real estate firm Baseline Inc., intends to buy the property out of foreclosure and appoint Mann Properties to lease and manage it. Tenants include Methodist Health Care Center, the National MS Society, Vibbert DDS and Symbios Technologies.

-Cedarwood Development bought a 2.25-acre parcel at State Road 37 and Fairview Road, Greenwood. The price wasn’t disclosed. A CVS pharmacy is planned for the site. Scot Courtney of Grubb & Ellis Harding Dahm & Co. represented the seller, The Market Place at State Road 37 LLC. The buyer was represented by Jeff Hubley of Midland Atlantic. 
 
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Leasing/leasing contracts

February 2, 2010
-EJP Inc., a flea market, leased 29,000 square feet at 3900 S. East St. Liz Yoho of Providence Development represented the landlord, Expo Bowl Inc. The tenant represented itself.

-R. Falcone Automotive Inc. leased 19,632 square feet at 1906 W. 16th St. Mark Writt and Greg Witkowski of CB Richard Ellis represented the owner/landlord, 16th Street Properties LLC. The tenant represented itself.

-Hill-Rom Co. Inc. leased 9,000 square feet at 8531 Zionsville Road in Building 2 of the Park 100 Industrial Center. Tom Cooler and Mark Writt of CB Richard Ellis represented the tenant. The owner, ProLogis, was represented by Brett Spitzer of NAI Olympia Partners.

-USA Medical Inc. leased 6,888 square feet at Plaza at Castleton, 8470 Castle Corner Drive. Scot Courtney, Cindy Hoskinson and Bart Jackson of Grubb & Ellis Harding Dahm & Co. represented the landlord, Castleton Shopping Center LLC. The tenant was represented by Bart Jackson of Grubb & Ellis Harding Dahm & Co.

-Katzman & Katzman PC leased 5,853 square feet of office space at 3500 DePauw Blvd. Scott Levinson of Urbahn Cos. represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Friaco’s Mexican Restaurant leased 3,200 square feet at Fishers Corner Shoppes, 11680 Commercial Drive, Suite 1000, Fishers. Nick Wright of Midland Atlantic represented the tenant. The landlord, SENA Realty FC LLC was represented by Williams Realty Group.

-Serenity Counseling Services leased 2,070 square feet at Vista Professional Center, 432 S. Emerson Ave., Greenwood. Cathy Richards of Grubb & Ellis Harding Dahm & Co. represented the tenant and the landlord, Adelphia Properties LLC.

-Downtown Comics Inc. leased 1,040 square feet at Chapel Hill Shoppes, 7301 W. 10th St. Scot Courtney and Bart Jackson of Grubb & Ellis Harding Dahm & Co. represented the landlord, GSR LLC. The tenant represented itself.

-Landrum’s Cleaning LLC leased 2,553 square feet at 8770 Commerce Park Place. The landlord, Dhillon Commerce Park LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker. The tenant represented itself.

-Talagy leased 3,801 square feet of office space at 3500 DePauw Blvd. Darrell Pike of Precedent Real Estate Services represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Verizon Access Transmission Services leased 3,427 square feet of office space at 550 Congressional Blvd., Carmel. Michael Swanson of Jones Lang LaSalle-Southwest represented the tenant. The landlord, 550 Congressional Blvd. LLC, was represented by David A. Moore, Darrin L. Boyd and Mary Beth Kohart of Colliers Turley Martin Tucker.
 
-Paws Ability leased 2,800 square feet at Plainfield Village on U.S. 40. The landlord, The Broadbent Co., was represented by Jeff Roberts. The tenant represented itself.

-Millennium Sounds leased 2,800 square feet at Clearwater Shoppes, 82nd Street and Dean Road. The landlord, The Broadbent Co., was represented by John Beuoy. The tenant represented itself.

-The Game Preserve Inc. leased 1,600 square feet in Fashion Mall Commons, 8487 Union Chapel Road. The tenant was represented by Robyn Smart of CB Richard Ellis. The owner/landlord, Fashion Mall Commons I LP, was represented by John Beuoy of The Broadbent Co.
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Housing

February 2, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity fell 10.9 percent for the week ended Jan. 22, according to the Mortgage Bankers Association. Rates for 30-year loans increased to 5.02 percent from 5 percent the previous week. Fifteen-year mortgages increased to 4.34 percent from 4.33 percent.
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Lilly looks to autoimmune drugs

January 27, 2010
J.K. Wall
Two local researchers show why Eli Lilly and Co. and its peers are interested in developing medicines to treat automimmune diseases: The costs of treating them are growing twice as fast as the prescription drug market.
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People

January 27, 2010

Dr. Michael Weiner, a professor at the Indiana University School of Medicine, has been named director of the IU Center for Health Services and Outcomes Research, director of the Regenstrief Institute's health services research program, and an evidence-based practice center at Richard L. Roudebush Veterans Affairs Medical Center in Indianapolis. Weiner replaces Dr. Brad Doebbling in those positions. Doebbling remains with the IU med school and Regenstrief.

The board of directors at Hendricks Regional Health added three members: Julia Mullholland, a community volunteer; Lori Shufflebarger, owner of the Gail Force Enterprises construction firm; and Charles L. Nelson, an oral surgeon at Avon Oral & Maxillofacial Surgery.

Fayette Regional Health System in Connersville appointed Randy White CEO on Monday. White had been Fayette Regional’s chief operating officer and had served as interim CEO for much of last year leading up to the resignation of his predecessor, David Brandon.

Safis Solutions, an Indianapolis-based life sciences consulting company, hired John Nadelin as a senior compliance adviser.

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Company news

January 27, 2010

The Indiana University School of Medicine in Indianapolis will be one of 12 sites for a clinical trial of a potentially groundbreaking treatment for autism. New York-based Curemark LLC has developed an ingestible powder designed to help patients digest protein. The drug is the product of research by Curemark founder Dr. Joan Fallon, who found that many autistic children lack enzymes to digest protein, meaning their bodies cannot produce the amino acids crucial in brain development. If it proves effective against autism, the powder, called CA-MT, would be the first treatment to reverse the underlying causes of autism.

Hopes rose Tuesday that Eli Lilly and Co. and its partner Amylin Pharmaceuticals Inc. will win approval of their new version of diabetes treatment Byetta. That’s because the U.S. Food and Drug Administration on Monday approved a Byetta rival, Victoza, developed by Denmark-based Novo Nordisk A/S. Victoza is a once-daily shot, compared with the twice-daily Byetta. But Indianapolis-based Lilly and San Diego-based Amylin have asked the FDA to approve a once-weekly version of Byetta, which would be the most convenient for patients. Analysts expect sales of once-weekly Byetta to reach as high as $2 billion by 2015, which would be split by Lilly and Amylin. Sales of twice-daily Byetta last year were on pace to reach about $790 million. What’s been holding up Victoza and the once-weekly Byetta have been regulator concerns about patients developing inflammation of the pancreas while taking the drugs. The FDA required Victoza’s label to warn about pancreatitis as well as use in patients at risk for a rare thyroid cancer. Those warnings were milder than many analysts had feared. One analyst expects the FDA to make a decision on once-weekly Byetta by March 5.

Warsaw-based Symmetry Medical Inc. will manufacture implants, instruments and cases for OrthoPediatrics Corp., another Warsaw-based company that makes orthopedic implants for children. Symmetry expects to bring in $3 million in revenue from the deal this year. Symmetry also will receive fees for inventory management, warehousing and supply-chain management services. The agreement will last for five years.

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"Art from the Heartland"

January 27, 2010

Jan. 28-April 18
Indianapolis Art Center

The first of what will become a biennial exhibition features 70 works by 50 artists from Indiana, its neighbor states and, just for good measure, Wisconsin. Local artists include Amy Brier (creator of the rolling limestone ball pieces at White River Gardens) and Deborah Klein, who works in delicately cut paper (see samples here). The show was juried by arts advocate Paul Klein, author of the popular Chicago blog ArtLetter. Details here.

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Art & Soul Kickoff

January 27, 2010

Jan. 30
Indianapolis Artsgarden

A month of concerts and other arts activities in the Artsgarden gets started with this free program from 1-4 p.m. It includes artist booths and performances by, among others, James Andrews and New Seasons (give a listen here) and the Phi Beta Sigma Step Team. Additional Art & Soul performances in February include Asante Children’s Theatre (Feb. 7), songstress Brenda Williams (Feb. 17), and poet Tasha Jones (Feb. 21). Details here.

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"Touch of Evil"

January 27, 2010

Jan. 29
Tobias Theatre, Indianapolis Museum of Art

Truth be told, I haven’t seen the 1958 Orson Welles film “Touch of Evil” since I was in college. Back then, I wasn’t a fan of movies that called attention to the direction, and so my voice didn’t join the praise for its miraculous opening tracking shot and other how-did-they-do-that feats of cinematography.
It could be time for a revisit, though, since one of the film’s most ardent fans will be introducing it for this one-time-only screening at the IMA. That’s Peter Bogdanovich, who has created his own share of memorable on-screen moments as a director (“Paper Moon,” “The Last Picture Show,” and “What’s Up, Doc?”) and actor (“The Sopranos”). Details here.
 

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Groovaloo

January 27, 2010

Jan. 30
Clowes Hall

High-energy hip-hop dancing is the order of the day for this head-spinning, arm-crossing, floor-sliding, rubber-limbed company that came to national attention on NBC’s “America’s Best Dance Crew.” It’s part of the Clowes Presents series, our leading dance importer. Details here.
 

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Also this week:

January 27, 2010

Broadway star Sutton Foster (“Thoroughly Modern Millie,” “Shrek,” “Young Frankenstein) offers a public presentation Jan. 30 at Ball State’s Sursa Performing Arts Hall. Details here.

The Indianapolis Symphony Orchestra is joined by the Indianapolis Symphonic Choir, the Butler University Chorale and baritone Hugh Russell for an evening of Dvorak and Faure, Jan. 29-30 at Hilbert Circle Theatre. Details here.

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"Encore in Black & White Gala"

January 27, 2010

Jan. 30
Skyline Club

Jerome Collins, of the a cappella sensation Straight No Chaser, will be singing Motown hits as musical guest for this dessert-and-entertainment benefit for Encore Vocal Arts. I’ll be serving as emcee for the event—and trying to land some sweet silent auction deals. To give a listen to Collins, click here.  Details on the event here.

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Northwest-side industrial park sells for almost $30 million

January 26, 2010
Tom Harton
The North by Northwest Business Park near 86th Street and Georgetown Road has been sold to firms in Minneapolis and Baltimore for $29.6 million.
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Leasing/leasing contracts

January 26, 2010
-NuVox Communications of Indiana Inc. leased 7,521 square feet of office space at 701 W. Henry St. Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker represented the tenant. The landlord, Indy Telcom Center LLC, represented itself.

-Nelson & Frankenberger PC leased 6,504 square feet of office space at 3105 E. 98th St.  The tenant was represented by Ron Foster of Echelon Realty Advisors. The landlord, Brookfield Real Estate Opportunity Group, was represented by David A. Moore and Darrin L. Boyd of Colliers Turley Martin Tucker.

-Methodist Occupational Health Centers leased 8,383 square feet of office space at 11580 Overlook Drive, Fishers. The tenant was represented by Tim Craft of CB Richard Ellis. The landlord, Sandstone Properties LLC, was represented Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker.

-The Mucky Duck Pub leased 3,535 square feet of retail space at 4425 Southport Crossings Way. Michael Alboher of Alboher Development Co. Inc. represented the tenant. The landlord, P&M Property Management LLC, was represented by Keith Turnbill of the commercial division of Re/Max Select.

-Beacon Hill Staffing Group LLC leased 2,233 square feet of office space at 8425 Woodfield Crossing. The tenant was represented by Brad Goldberg of Visconsi Realty Associates Inc. The landlord, Woodfield II & III LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker.

-D&F Distributors leased 2,500 square feet at 4345 W. 96th St. The tenant was represented by Matt Jackson and Joe Lonnemann of Halakar Real Estate. The landlord, Park 421 LLC, was represented by Craig Cleveland of Mann Properties.
 
-Laboratory Corp. of America Holdings leased 2,052 square feet of office space at 8937 Southpointe Drive. The landlord, NNN Southpointe LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker. The tenant represented itself.

-Mutual of Omaha leased 4,388 square feet at 9100 Keystone Crossing. The tenant was represented by Spero Pulos of Grubb & Ellis Harding Dahm & Co.  John R. Robinson and Abby L. Cooper of Jones Lang LaSalle represented the landlord, Philadelphia-based BGP Properties Ltd. 

-J. Camden PC leased 2,030 square feet at 9200 Keystone Crossing. John R. Robinson and Abby L. Cooper of Jones Lang LaSalle represented the landlord, Philadelphia-based BGP Properties Ltd. The tenant represented itself. 

-A-Trains leased 1,234 square feet of retail space in the Madison on the Mall Shopping Center, 1211 N. Madison Ave., Greenwood. The tenant was represented by Cheryl Planck of Lawyers Real Estate Group. The landlord, Murnel Property LLC, was represented by Bruce Richardson of Royal Companies Inc.

-Janet Julius and Kyle Cutshaw leased 1,080 square feet of retail space at 295 South State Road 135, Greenwood. The tenant was represented by Bruce Richardson of Royal Companies Inc. The landlord, Boomer Properties 295 LLC, was represented by Mark Dietel of Royal Companies.
 
-American Income Life leased 1,501 square feet at 8604 Allisonville Road. The tenant was represented by Mike Weaver, Matt Jackson and Joe Lonnemann of Halakar Real Estate. The landlord, New Boston Castle Creek Limited Partnership, was represented by Gus Sevastianos of Citimark Management Co. Inc.

-Lakeshore Chiropractic leased 1,500 square feet at 9745 Fall Creek Road. The tenant was represented by Matt Jackson and Joe Lonnemann of Halakar Real Estate. The landlord, Glendale Partners at Geist Crossing II, represented itself.

-Genesis Benefit Solutions Inc. leased 1,031 square feet at 7007 Graham Road. Ben Loughery, Matt Jackson and Joe Lonnemann of Halakar Real Estate represented the tenant. The landlord, GPI Office Properties II LP, was represented by Adam Broderick of Jones Lang LaSalle.
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Sales/acquisitions

January 26, 2010
Sigma Alpha Tau Sorority purchased a 10,790-square-foot building on 1.01 acres at 3334 Founders Road. The price wasn’t disclosed. Debbie Shumate of Grubb & Ellis Harding Dahm & Co. represented the seller, MEBB Inc., and the buyer.
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Construction

January 26, 2010
-Shamrock Builders-Commercial has started an interior rebuilding project for Dr. Stephen Lehman, DDS, at 320 Medical Drive, Carmel. A fire gutted the 4,480-square-foot office Nov. 1. The project is scheduled to be completed by the end of May. 

-Shamrock Builders-Commercial has broken ground on a new office for Laughlin / Northwestern Mutual Life at 9759 Crosspoint Blvd. The 18,000-square-foot building is scheduled to be completed by the middle of July.

-D.B. Klain Builders LLC has completed a 1,162-square-foot tenant build-out at 2159 Glebe St., Carmel. The space is occupied by Edward Jones & Co.
 
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Housing

January 26, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity increased 9.1 percent for the week ended Jan. 15, according to the Mortgage Bankers Association. Rates for 30-year loans fell to 5 percent, down from 5.13 percent the previous week. Fifteen-year mortgages fell to 4.33 percent from 4.45 percent the previous week.
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State Republicans try to block health reform mandates

January 20, 2010
J.K. Wall
Joint resolutions in the state Legislature seek to amend the state constitution to block enforcement of provisions in the federal bills that would require individuals to buy insurance and all but the smallest employers to help pay for it.
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Wall Street likes wobble on health reform

January 20, 2010
J.K. Wall
With the stunning victory of Republican Scott Brown in the Massachusetts election for U.S. Senate, Wall Street analysts expect to see a "run" on health care stocks.
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Company news

January 20, 2010

Hey, wait a minute! That was the reaction, somewhat delayed, by the Indiana chapter of the National Federation of Independent Business, to a late-December change to federal health reform legislation. The Senate version of reform exempts companies with fewer than 50 employees from a requirement to provide health benefits. But in late December, Senate leaders made a change for construction firms, saying the exemption would apply only if they have five or fewer employees. The change was a favor to union groups, which said non-union construction contractors would have an advantage over unionized shops that do provide health benefits. Local NFIB leaders staged a protest/press conference last week, calling on Congress to “strip this job-killing provision from a final health care bill.”

Orbis Education, a locally based maker of nursing-education software, received $8 million in venture capital from Menlo Park, Calif.-based Lightspeed Venture Partners. Founded in 2003, Orbis offers online instruction to help universities and hospitals train new nurses. A key hurdle in the looming nursing shortage is the lack of capacity for nursing schools to accept all qualified applicants. Last year, it had $4.5 million in revenue and 33 employees. Orbis aims to boost its work force past 50 by the end of the year. Orbis had previously raised $4 million from family, friends and angel investors.
 
Watch out, Eli Lilly and Co. A Greenwood pharmaceutical firm plans to build a $28 million insulin facility there to make a cheaper version of the diabetes-fighting medicine. According to the Daily Journal of Franklin, Elona Biotechnologies expects its 50,000-square-foot facility to employ as many as 70 people. Greeenwood officials are considering $8.5 million in incentives, including some loans, to help Elona build the facility and get it approved by the U.S. Food and Drug Administration. Elona was founded in the late 1980s by former Lilly  researcher Ron Zimmerman.

West Lafayette-based IVDiagnostics LLC won a $124,000 grant from the National Institutes of Health to further its cancer diagnostics research. The Small Business and Innovation Research Phase 1 grant will pay for the company to improve the design of its IVFLow medical device, which analyzes and monitors tumor cells without taking blood from a patient.

Physicians working in a surgery center connected to Community Hospital South kicked in $500,000 to help the hospital complete a massive expansion. The gift, given by 65 doctors, boosts to $1.2 million the money raised for the project by the philanthropic arm of Community Health Network. The $130 million expansion will add 40 beds. It is scheduled to open in mid-2010.

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