Real estate brokerage sues IU Health over commissions
CBRE Inc. accuses the local hospital system of cheating it out of consulting fees that could top seven figures related to several building projects.
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Indianapolis neighborhood striving for LEED status
Designation to east-side project would go beyond building certification.
Company news
A few years back, the Indianapolis-based American College of Sports Medicine created the American Fitness Index, ranking the 50 largest U.S. metro areas. To no surprise, the Indianapolis area has never ranked well—coming in 44th last year and 45th this year. But now, the College of Sports Medicine is piloting a program—in Indianapolis and Oklahoma City—that will try to do something about it. The college, which includes physicians, researchers and other health professionals, will interview leaders in both cities to identify key areas for action, then offer expert assistance to launch efforts to boost physical activity, and try to reduce rates of smoking, obesity and other maladies. The goal is to add four additional cities in 2012 and 2013 each, bringing the total to 10 communities that will receive tailored technical assistance. The Anthem Blue Cross and Blue Shield Foundation and the YMCA of Greater Indianapolis are both supporting the pilot.
BioCrossroads’ Indiana Seed Fund has invested $300,000 in a startup company developing an absorbable stent to treat cardiovascular disease. Zorion Medical is chaired by former Eli Lilly and Co. executive David Broecker, who has moved to Indianapolis from Boston. Broecker, a Wabash College graduate in chemistry and mathematics, previously was president and CEO of Cambridge, Mass.-based biopharmaceutical company Alkermes Inc. Broecker also is CEO of BioCritica Inc., a locally based firm founded last May that acquired commercialization rights to Lilly’s Xigris, a drug to treat the blood infection sepsis. Zorion developed a stent that can be absorbed into the body—as opposed to existing stents made of metal. The biomaterial also can deliver drugs to help heal the artery.
Los Angeles-based CBRE Inc. says Indiana University Health is cheating it out of commissions related to several real estate deals in Indianapolis, Lafayette, Frankfort and Mooresville. Most notable is IU Health’s canceled plan for a $73 million administrative office building at 16th Street and Capitol Avenue, which would have been built near a $120 million neuroscience hub across the street from IU Health's Methodist Hospital campus. IU Health instead purchased the Gateway Tower plaza at 10th and Illinois streets to house administrative staff. Officials told IBJ in March the price was so good on Gateway Plaza—where the hospital system already rents 130,000 square feet—that they couldn’t refuse. Attorneys for IU Health declined to comment because the ligitation is pending.
The California-based St. Baldrick’s Foundation, which raises money for childhood cancer research, awarded a $145,566 grant to Dr. Jodi Skiles, a pediatric researcher at the Indiana University School of Medicine. Her research, conducted in the United States and in Kenya, will focus on developing individualized dosing regimens of vincristine, a core anticancer agent used in many childhood cancers, which reaches toxic levels for some patients much more quickly than others.
Plumbing issues close 2 Fishers parks
Brooks School Park and Cumberland Park in Fishers have been closed until further notice, the town of Fishers announced yesterday, due to plumbing issues. Fishers officials said a lift-station failure and sewage backup in the vicinity of 116th Street and Brooks School Road are causing the problems. Hamilton Southeastern Utilities crews are working to fix the problems.
Leasing/leasing contracts
-David A. Noyes & Co. leased 38,880 square feet at One West in Parkwood West, 250 W. 96th St. The tenant was represented by Bill Ehret of Summit Realty Group. The landlord, Duke Realty, represented itself.
-Universal Recycling Technologies leased 25,600 square feet in Park 100 Building 59, 8002-42 Woodland Drive. The tenant was represented by Bill Drinkall of NAI Harding Dahm. The landlord, Duke Realty, was represented by Duke’s Glenn Davis.
-Quick Ship Brands leased 19,181 square feet in Park Fletcher Building 39, 2910 Fortune Circle West. The tenant was represented by Chris Black of CBRE. The landlord, Duke Realty, was represented by Duke’s Glenn Davis.-Cascade Asset Management leased 15,672 square feet in the Mitchell Building at AmeriPlex, 5125 Decatur Blvd. The tenant was represented by Kelly Williams of Cassidy Turley. The building owner, Holladay Properties, was represented by Matt Dickerson of Jones Lang LaSalle and Dan Phair of Holladay Properties.
-Goodwill Industries of Central Inc. leased 15,075 square feet at Geist Pavilion, 11501 Geist Pavilion Drive, Fishers. The tenant was represented by Bill French of Cassidy Turley. The landlord, 116th & Olio LLC, was represented by Jeff Wright of Kite Realty Group.
-Exodus leased 12,000 square feet of space at Circle City Industrial Complex, 1125 Brookside Ave. The landlord, National Bank of Indianapolis, was represented by Ashley Bussell, Ralph Balber and Conrad Jacobs of Newmark Knight Frank Halakar. The tenant represented itself.
-IDI Composites International leased 9,750 square feet of space at 3477 E. Conner St., Noblesville. The tenant was represented by Walter Freihofer of Freihofer Inc. The landlord, Kahlo III LLC, was represented by Bob Lindgren of Lee & Associates.
-Boom Bozz Pizza & Tap House leased 5,554 square feet at Cool Creek Commons, 2454 E. 146th St., Carmel. The landlord, Westfield One LLC, was represented by Andrew Hasbrook of Kite Realty Group. The tenant represented itself.
-Dynamique Auto Dealer Services Inc. leased 3,547 square feet at Fidelity Plaza Tower II,11350 N. Meridian St., Carmel. The tenant was represented by Brooke Augustin of Alliance Commercial Real Estate. The landlord, HUB Properties GA LLC, was represented by Matt Waggoner and Tom Hadley of Summit Realty Group.-Dibella’s Subs leased 3,200 square feet at Traders Point II, 5640 W. 86th St. The tenant was represented by Kyle Hughes of Veritas Realty. The landlord, Kite West 86th Street II LLC, was represented by Andrew Hasbrook of Kite Realty Group.
-Hycore Biomedical Inc. subleased 3,109 square feet in Keystone Office Park, 3021 E. 98th St. The sublessee was represented by Tim Hull of CB Richard Ellis. The sublessor, St. Jude Healthcare, was represented by Brooke Augustin of Alliance Commercial Real Estate.
-The Web Guys leased 3,073 square feet of office space at SePRO Tower, 11550 N Meridian St., Carmel. The landlord, SePRO Corp., was represented by Bill Ehret and Alex Cantu of Summit Realty Group. The tenant represented itself.
-Apezza Pizza has expanded its lease to 2,420 square feet at Fall Creek Harbour Shoppes, 10150 Brooks School Road, Fishers. The landlord, FCH Associates LLC, was represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates. The tenant represented itself.
-FCStone, LLC leased 2,300 square feet at 1155 Parkway Drive, Zionsville. The tenant was represented by Leslie Bonacker of CresaPartners. The landlord, Southpark Investments LLC, was represented by Tammy Kelly of RE/MAX Ability Plus Commercial Division.
-TeaBuds Brewing Co. leased 975 square feet of retail space in Old Town on The Monon, 111 W. Main St., Carmel. The landlord, Barrett & Stokley, was represented by Bart Jackson of Lee & Associates. The tenant represented itself.
Bush Stadium gets last hurrah
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
Police chase ends in 6-car crash
A police chase ended in a multi-vehicle crash and minor injuries to two people Thursday night in Fishers. Six cars were involved in the crash near 116th Street and Allisonville Road. Police were responding to a call about a potentially suicidal female and located her near the Sam's Club parking lot on 96th Street. When an officer approached, she took off in her van, starting the short chase. No charges were immediately filed.
Planners balk at proposed Jack in the Box on Meridian
The city's planning staff is recommending denial of a variance request for a Jack in the Box restaurant proposed for Meridian Street just south of 16th Street.
City balks at Jack in the Box plans for Meridian Street site
Urban design guidelines prohibit new drive-throughs along Meridian or Pennsylvania streets in the downtown vicinity.
Apartment project planned for south end of Monon
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
Life Time buys out Lifestyle; 2 Indy fitness centers closing
Florida-based Lifestyle Family Fitness plans to close two of its facilities in Indianapolis—at 82nd Street near Dean Road and along Shelby Street just south of Stop 10 Road—by the end of November.
Lifestyle Family Fitness closes 2 locations, sells 2 others
Minnesota-based Life Time Fitness is buying the two sites that will remain open. One is in Fishers and the other is near 96th and Meridian streets in Indianapolis.
New renderings: $5M plan for amphitheater, trail in Fishers
The Town of Fishers this week unveiled plans to build a new outdoor amphitheater and multipurpose trail in its downtown district along 116th Street.
Builder, developer partner in turnaround firm
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
Neighbors oppose gas station at 16th and Central
Residents of an area near the intersection of Central Avenue and 16th Street are sparring with owners of a site on its northwest corner who want to build a gas station there. The neighbors had other hopes for the spot, as part of their plans for a pedestrian-friendly 16th Street corridor.
Land gift preserves 40 acres in Indianapolis suburbs
The donation to the Central Indiana Land Trust comes from farmer Van Eller, who lived most of his life on the land now surrounded by Fishers and Carmel subdivisions before he died last year at age 89.
Carmel office/retail complex hurt by road project gets second chance
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
Fisher’s IndyCar team building headquarters in Speedway
Sarah Fisher Hartman Racing plans to build a $2.7 million facility on Speedway’s new Main Street to house her race team. Construction on the 37,000-square-foot shop could start in February and be finished in September.
Seats from Bush Stadium to live on at bus stops
A local group has partnered with IndyGo to pay homage to one of the city’s great sports landmarks by installing Bush Stadium’s seats at bus stops all over the city.
TAFT: Education reform should include real estate
IPS has declined to sell or lease these buildings to charter schools.