Another breakfast concept coming to Indianapolis area
The Egg & I joins national chains such as Another Broken Egg and First Watch that have found the Indianapolis area to be an attractive breakfast market.
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Developers finish first project, shift focus to downtown deal
Drew Loftus and Kyle Robinson are wrapping up their first project, in Broad Ripple, and have bought another building, this one downtown. A well-known architectural and design firm is slated to be the building’s tenant.
Glitches halt online ISTEP testing for Indiana schools
School districts across the state suspended the first day of ISTEP+ online testing Monday because of computer issues. IPS is reporting more problems Tuesday.
Carmel’s Kitchen aims to attract foodpreneurs
The Carmel Farmers Market’s Salsa Queen already is preparing for opening day, but this year Barbara Carter has the luxury of slicing and dicing in her own commercial kitchen.
Schools face ISTEP+ problems for 2nd straight day
School districts trying to administer Indiana’s required standardized test encountered new problems Tuesday that forced the state to suspend testing for a second straight day. The problems brought a hailstorm of complaints.
Indiana ISTEP testing to resume, but at half the test load
Required standardized tests for Indiana students will resume Wednesday after two days of computer glitches, but state officials asked schools to cut their normal test loads by half to avoid more problems.
Legislature OKs new Fishers food-and-drink tax
Fishers has state lawmakers’ permission to impose a 1-percent food-and-beverage tax, but local leaders aren’t rushing into anything.
Trial date set in Carmel’s lawsuit on Palladium construction
The 2-year-old complaint concerns defects to steel supports discovered during construction of the city’s signature concert hall.
Milhaus set to launch $26M downtown apartment project
Milhaus Development is set to begin construction this summer on a $26 million apartment project on College Avenue that will include 236 units. The first ones should be available next spring.
Investment gains mask slowdown for insurer
The bull market boosted first-quarter profit at Baldwin & Lyons Inc. to a record high, even though the property and casualty insurer’s core business lost ground.
Six arrested in prostitution bust
Police seized $250,000 and arrested six people Wednesday in a prostitution sting involving two suburban massage parlors. Lu Wang, 50, of Fishers, was charged with promoting prostitution after police raided Dove Spa in Carmel and Beijing Spa in Zionsville. Five women also were charged with prostitution-related offenses. Authorities said Wang was the ringleader of the group.
New seed fund aims to make Indiana a hotbed for digital health startups
Infuse Accelerator hopes to make early-stage investments in 12 to 15 companies a year.
Assets of attorney in fraud case have gone missing, feds say
After being charged with defrauding clients, Indianapolis attorney William Conour was ordered not to dispose of his personal property. But much of it is now missing, including art, furniture, sports memorabilia and bottles of expensive champagne, according to court filings.
Company news
Diagnotes Inc., an Indianapolis-based health IT company, announced today that it has closed on $1 million in funding from life sciences and early-stage growth company investors. The investment group was led by Indiana University’s Innovate Indiana Fund and includes BioCrossroads’ Indiana Seed Fund II, Stepstone Angels and other investors. The funding will help Diagnotes commercialize its communication system for on-call health care providers. The Diagnotes system allows providers and patients to connect with on-call doctors and nurses while delivering key patient information from the electronic health record to the point of care.
Endocyte Inc. recorded $14.5 million in revenue during the first quarter and a loss of $3.9 million, or 11 cents per share. The West Lafayette-based drug development firm is still working with European regulators to win approval to launch its first drug, vintafolide. The drug, targeted for drug-resistant ovarian cancer, would be commercialized with New Jersey-based Merck & Co. Inc. Merck’s payment last year of $120 million is Endocyte’s sole source of revenue. The company’s cash pile declined during the first quarter from $201.4 million to $185.9 million. Endocyte officials reaffirmed their predictions that the company will have cash and cash equivalents between $145 million and $160 million at the end of 2013.
Franciscan St. Francis Health has partnered with WhatNext.com, a Carmel-based online support network that matches up cancer patients according to their diagnosis, stage and age. More than 10,000 Americans have registered to use WhatNext.com, including 400 patients in Indiana. “People are trying to make sense of a whole universe of new and staggering volume of medical information at the same time they are trying to figure out what’s next and to stay emotionally strong,” said David Wasilewski, who launched WhatNext.com in September 2011. “Our site helps patients benefit from those who have been there.”
The ‘burbs: culinary wasteland or undiscovered territory?
Local food writer’s “Taste of Indy” feature got me thinking about destination dining in the northern suburbs. What would make your list?
Leases/leasing contracts
-Heartland Food Products Group leased 309,600 square feet of industrial space at 4925 W. 86th St. The tenant was represented by Fritz Kauffman and Don Treibic of Cassidy Turley. The landlord, Duke Realty, represented itself.
-Central Indiana Education Service Center leased 13,245 square feet of office space at 6026 6036 Lakeside Blvd. The tenant was represented by Yumi Prater of Colliers International. The landlord, GI Partners, was represented by Bryan Poynter and Russell Van Til of Cassidy Turley.
-The Men’s Wearhouse leased 6,553 square feet at Clay Terrace, 146th Street and U.S. 31, Carmel. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Clay Terrace Partners LLC, was represented by Pat O’Hara of Simon Property Group.
-Pet Supplies Plus leased 6,400 square feet at Fishers Crossing, 7230 Fishers Crossing Drive, Fishers. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate and John Liprando of Sullivan Hayes. The landlord, Viking Partners Fishers LLC, was represented by Kyle Hughes and Jamison Downs of Veritas Realty LLC.
-Jockamo Irvington LLC renewed its lease for 5,468 square feet of retail space at 5614-5646 E. Washington St. The landlord, Irv LLC, was represented by John Byrne of Cassidy Turley. The tenant represented itself.-Indiana Association of 7th Day Adventists Inc. leased 2,773 square feet of office space at 7301 Georgetown Road. The tenant was represented by Nathan Smith of Colliers International. The landlord, GCP Investment LLC in care of Mann Properties Management, was represented by Craig Cleveland of Mann Properties.
-Preventive Care Medical LLC leased 2,750 square feet of office space at 7430 N. Shadeland Ave. The landlord, SNAG LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
-Stonegate Mortgage Corp. leased an additional 1,776 square feet at 1499 Windhorst Way, Greenwood. The tenant was represented by Nick Svarczkopf and John Vandenbark of CBRE. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.
-Thomas Mascari leased 1,600 square feet of retail space at 3001 Meridian Meadows, Greenwood. The landlord, Bayview Loan Servicing LLC, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-H&R Block leased 1,400 square feet of retail space at 8958 8974 E. 96th St., Fishers. The landlord, C III Asset Management, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-Great Clips leased 1,200 square feet of retail space at 1600 E. Michigan Road, Shelbyville. The landlord, C III Asset Management, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-LCS Avon LLC leased 880 square feet of office space at 6845 E. U.S. Highway 36, Avon. The landlord, Westridge Office Park II LLC Receivership Estate, was represented by Nathan Smith of Colliers International. The tenant represented itself.
Outback, Olive Garden slated for Michigan Road
The Carmel City Council on Monday agreed to pave the way—literally—for commercial development planned for the west side of Michigan Road south of 106th Street.
Review finds no conflict in state’s deal with Mainstreet
Gov. Mike Pence asked the Indiana Economic Development Corp. in early April to review its decision to grant $345,000 in performance-based economic incentives to Mainstreet Property Group LLC, a company started by a top Republican lawmaker and his son.
Carmel developer plans rooms with a view
Construction is expected to begin this summer on a $6 million development at Carmel’s City Center that includes luxury apartments overlooking the Monon Trail.
Merchants, Citizens Bank to merge
Shareholders in Carmel-based Merchants will receive stock that was valued at $98.3 million before the announcement of the deal caused a huge spike.