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    Kurt Beier

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Articles

Leases/leasing contracts

June 23, 2014

-National Oilwell Varco leased 31,790 square feet of industrial space at 9870 E. 30th St. The tenant was represented by Grant Lindley of Cassidy Turley. The landlord, James D. Crawford Trust, was represented by Luke Wessel of Cassidy Turley.

-Progressive Casualty Insurance Co. renewed its lease for 17,444 square feet of office space at 5975 Castle Creek Parkway. The tenant was represented by Tom Osborne and Kimberly Estes Hartman of Colliers International. The landlord, LS REF2 OREO/Castle Creek, was represented by Matt Langfeldt and Rich Forslund of Cushman & Wakefield/Summit.

-The Icing On The Cake Event Center LLC leased 4,084 square feet of retail space at Lafayette Center, 4261 Lafayette Road. The tenant was represented by Alex Sanders of Newmark Knight Frank Halakar.The landlord, Namdar Realty Group, was represented by Bill Marsh and Greg Smith of Colliers International.

-CTL Global Holdings LLC leased 2,125 square feet of industrial space at 6330 E. 75th St. The landlord, TIAA-CREF, was represented by Todd Vannatta and Bennett Williams of Cassidy Turley. The tenant represented itself.

-Sweet Express Yogurt Shop leased 1,967 square feet at North Willow Mall, 2278 W. 86th St. The landlord, Township 86 Development Co. LP, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-A Nail Salon leased 1,800 square feet at Brownsburg Shopping Center, 816 E. Main St., Brownsburg. The landlord, TCP Brownsburg Center LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-Little Caesars leased 1,460 square feet at Sandstone Commons, 11640 Brooks School Road, Fishers.  The landlord, CPM III LP, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-China Wok Restaurant leased 1,370 square feet at Saratoga Shops, 1070 W. Main St., Plainfield. The tenant was represented by Jerry Zheng of DOC Real Estate Inc. The landlord, Saratoga Associates LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.

-9-Round Kickboxing leased 1,272 square feet at 116th Street Centre, 980 E. 116th St., Carmel. The Landlord, TCP Guilford LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

Why hospitals leave the inner city, in one chart

June 23, 2014

Since hospitals lose money on just about every patient except those with private insurance, they have been closing inner-city facilities and opening new facilities in the suburbs for the past four decades.

Company news

June 23, 2014

More than 100 Indiana firms since January have told federal regulators they plan to offer up ownership stakes or take on debt. That’s approaching a year’s worth of activity in less than six months, based on the state’s performance the past few years. Firms selling equity or debt include numerous health care firms, such as RepuCare, HC1.com, Indigo BioSystems, SonarMed and Wellfount. Indigo CEO Randy Julian boiled his firm’s investment timing down to, “It was time to mash the pedal to the floor and go.” The 47-employee company, which develops software for medical laboratories, secured $8.5 million earlier this month. “I do think if you look around,” Julian said, “the other companies that have raised money have had some component of that story that’s the same.”

Carmel-based Mainstreet has built 14 short-term rehabilitation facilities—usually near hospitals—and has 17 more under construction or in planning stages. That rapid building helped drive the company from $11 million in revenue in 2011 to more than $66 million two years later, making it the fastest-growing private company in the Indianapolis area. “We’re in the right place at the right time. We’ve invested heavily into our systems and our designs and now are really bearing the fruits of a lot of years of labor,” said Mainstreet CEO Zeke Turner. Beginning in 2015, rather than only build facilities that others operate, Mainstreet will begin to operate some facilities that it builds. The first two Mainstreet-operated facilities are scheduled to open in Carmel and Bloomington.

Shares of central Indiana pharmaceutical firm Endocyte Inc. lost 15 percent of their value last week after industry giant Merck & Co. Inc. gave up on developing Endocyte cancer drug vintafolide. On Tuesday evening, West-Lafayette-based Endocyte said it had regained worldwide rights to vintafolide from Merck. The move essentially meant Endocyte lost Merck’s financial backing and sales muscle for the drug. The treatment failed a key study last month, leading to a 62-percent single-day drop in Endocyte's share price on May 2. Endocyte and Merck announced May 19 that they were terminating a clinical trial of the drug, after an analysis showed vintafolide didn’t demonstrate efficacy when treating patients with platinum-resistant ovarian cancer. Endocyte said it will continue to test vintafolide for lung cancer. Shares of Endocyte closed Friday at $6.55 apiece.

Indiana unemployment rate holds steady

June 20, 2014

The state’s jobless rate held firm in May at 5.7 percent, following nine straight months of declines.

For-profit education company warns it may have to shut down

June 20, 2014

Corinthian Colleges is a competitor of Carmel-based ITT Educational Services Inc. Firms in that field have seen enrollment drop amid heightened government scrutiny.

INDIANA 100: Mainstreet tops fastest-growing companies list

June 20, 2014

Nursing home developer Mainstreet is the fastest-growing private company in the Indianapolis area.

INDIANA 100: Indiana public companies turned in contrasting performances

June 20, 2014

Profit shot up for some, while others fought setbacks.

Records – June 23, 2014

June 19, 2014

Records listings from the June 23, 2014, issue of IBJ.

Gregg’s priorities faulty

June 19, 2014

John Gregg [June 16 Forefront] says Republicans are being Chicken Little because they want to do something rational like stopping spending more than we have.

Record number of Hoosier upstarts hunt for investors

June 19, 2014

Indiana companies are lining up for private investments in record numbers—a trend driven by the growth of dozens of Indianapolis technology companies that have left the startup stage and want to quickly hire and expand.

Fledgling local organization crusading for innovation

June 19, 2014

Jerry McColgin saw firsthand the power of innovation during his 15 years at Whirlpool Corp., starting on the factory floor and working up to lead an Evansville-based team of 35 people scattered across 17 countries.

Washington Prime buys Clay Terrace stake from Lauth

June 17, 2014

Simon Property Group spinoff Washington Prime Group on Monday announced deals worth about $326 million involving at least seven shopping centers, including Clay Terrace in Carmel.

Construction

June 16, 2014

-Holladay Construction Group LLC. has completed an 8,612-square-foot bank renovation for Centier at 568 Carmel Drive.  

-Holladay Construction Group LLC has partnered with Holladay Properties and Schahet Hotels to begin construction of a five-story, 122-room, 82,000-square-foot, full service Holiday Inn near Indianapolis International Airport. Completion is scheduled for the winter of 2015.

People

June 16, 2014

Kelli Burress, a nurse practitioner, has joined St. Vincent Medical Group in Greencastle. Burress earned an associate’s degree from Ivy Tech State College in Indianapolis and a bachelor’s degree in nursing from Indiana Wesleyan University in Indianapolis.

Dr. Mohammed Tarrabain, a family physician, has joined St. Vincent Medical Group in Carmel. Tarrabain earned his medical degree from The American University of Beirut in Lebanon.

Dr. Tim Franson has joined Indianapolis-based YourEncore as chief medical officer. Franson was vice president of global regulatory affairs at Eli Lilly and Co. and since then has worked as a consultant, on his own and at FaegreBD Consulting. Franson holds a bachelor’s degree from the University of Iowa and a medical degree from the University of Illinois College of Medicine.

Simpson out as WIBC morning host, conservative Katz in wings

June 13, 2014

Steve Simpson was informed Friday that his contract would not be renewed by Indianapolis-based Emmis Communications Corp., which owns WIBC. Newsman Simpson will be replaced by conservative talk show host Tony Katz.

MCL stays fresh as cafeteria rivals slide into decline

June 12, 2014

The company that Charles O. McGaughey and his partner, George Laughner, started in 1950 has outlived thousands of Indiana restaurants—chains and mom-and-pops alike—and remained profitable through the changing tastes and trends of seven decades.

People in the news – June 16, 2014

June 12, 2014

People listings are free.

Remodelings might await boomers wanting to stay in their homes

June 11, 2014

Many homes will be difficult for aging boomers to navigate without changing doors, bathrooms, hallways and kitchens.

Roberts leaving downtown location as part of $2.5M expansion

June 11, 2014

The retailer of photo, video and electronics equipment will move from 255 S. Meridian St. to larger downtown space at 220 E. St. Clair St. Roberts plans to add 35 workers by 2018.

Former Colts player set to open soul food restaurant

June 11, 2014

Gary Brackett, who played nine seasons for the team at linebacker, plans to open Georgia Reese’s Southern Table & Bar on the northwest side in August.

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