Restaurant roundup: BW3, RA Nightclub, Mo’s, Popeyes
A new arrival in Broad Ripple and a high-profile move lead off the latest Indianapolis restaurant roundup.
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Leases/leasing contracts
-JPMorgan Chase Bank extended its lease for 204,068 square feet at Chase Tower, 111 Monument Circle. The tenant was represented by Nick Arterburn of CBRE. The landlord, CW Monument Circle Inc., was represented by John Robinson and Adam Broderick of Jones Lang LaSalle.
-Shoe Sensation Inc. leased 8,050 square feet of retail space at 1600 E. Michigan Road, Shelbyville. The landlord, Cassidy Turley acting as court-appointed receiver, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-Center for Orthopedic Surgery & Sports Medicine leased 6,722 square feet of retail space at 1675 W. Smith Valley Road, Greenwood. The landlord, CW Capital Asset Management LLC, was represented by Bill French of Cassidy Turley. The tenant represented itself.
-Cunningham Weatherspoon Agencies leased 6,008 square feet of office space at 9800-9880 Westpoint Drive. The landlord, Crosspoint Partners, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Indy Auctions leased 5,151 square feet of industrial space at 7226 E. 87th St. The tenant was represented by Spero Pulos of Lee & Associates. The landlord, Westminster Northeast, was represented by Todd Vannatta and Bryan Miller of Cassidy Turley.
-Spence Inc. dba Anytime Fitness leased 5,000 square feet of retail space in Greenfield Station Shopping Center, 1921 Melody Lane, Greenfield. The tenant was represented by Brent Godbout of Franchise Real Estate. The landlord, LOR Corp., was represented by Jacque Haynes of Cassidy Turley.
-Wireless@Work leased 3,887 square feet of office space at 9800 9880 Westpoint Drive. The landlord, Crosspoint Partners, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-America's Best Contacts & Eyeglasses leased 3,255 square feet of retail space at Nora Plaza Shopping Center, 1300 E. 86th St. The tenant was represented by Allison Hawley of Cassidy Turley. The landlord, Ramco Gershenson Properties Trust, represented itself.
-Weichert Realtors leased 3,129 square feet of office space at 1980 E. 116th St., Carmel. The tenant was represented by Sam Smith of Colliers International. The landlord, Clarkland Properties, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.
-Lincoln Square Pancake House renewed its lease for 2,800 square feet of retail space at 8150 Oaklandon Road. The landlord, Cassidy Turley acting as court-appointed receiver, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-The Cellular Connection leased 2,690 square feet of retail space at 4903 S. Emerson Ave. The tenant was represented by Jamison Downs of Veritas Realty. The landlord, Kovacs Enterprises LLC, represented itself.
-The Cellular Connection leased 2,545 square feet of retail space at The Centre, 1360 S. Rangeline Road, Carmel. The tenant was represented by Jamison Downs of Veritas Realty. The landlord, KRG Centre LLC, was represented by Blake Beaver of Kite Realty Group.
-Renew Cosmetic Spa leased 2,480 square feet at Hunter’s Quest, 102-122 E. Carmel Drive, Carmel. The landlord, The Fineberg Group LLC, was represented by Patrick Boyle of Midland Atlantic Properties and Brian Fineberg of Fineberg Property Services. The tenant represented itself.
-Five Guys Burgers & Fries leased 2,400 square feet in Brownsburg Village Shopping Center, 124 E. Northfield Drive, Suite H, Brownsburg. The tenant was represented by Jason Challand of Echelon Realty. The landlord, BVSC LLC, was represented by Jodi Milto of Midland Atlantic Properties.
-A+ Auto Glass leased 1,920 square feet of retail space at 8630 Pendleton Pike. The landlord, Master Automotive Services Group LLC, was represented by Ron Mannon of Lee & Associates. The tenant represented itself.
-Appliance Shop leased 1,000 square feet at Irvington Plaza, 6200 E. Washington St. The landlord, Irvington Plaza Associates, was represented by Patrick Boyle of Midland Atlantic Properties. The tenant represented itself.-Wound Healing Care Centers of Indiana leased an additional 935 square feet of medical space at 8355 Rockville Road. The tenant and landlord, Cloverleaf Property Group LLC, were represented by Allen Culpepper and Jason Alsup of RE/MAX Centerstone.
-Indy Mobile leased 850 square feet of retail space in 30th & Kessler Center, 3119 W. 30th St. The tenant and landlord, DEWERCS One LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
Company news
Catamaran Corp. will add 50 jobs in Indianapolis over the next year to help it provide pharmacy-benefit-management services to the Indiana Medicaid program. The Illinois-based company will open an office downtown Tuesday to kick off its six-year, $60 million contract with the state. The contract, which officially begins April 1, pledges Catamaran to help Indiana Medicaid control the $800 million it spends every year to provide prescription drugs to Medicaid recipients. Catamaran will process Indiana Medicaid’s 12.5 million annual pharmacy claims, run clinical and technical call centers, handle electronic prescriptions and manage specialty medications. The Indianapolis office, located at 150 W. Market St., will house pharmacists, technicians and support staff.
Two investors in Indianapolis are trying to raise money to fill the gap in early-stage funding for life sciences companies in the Midwest. San Francisco-based CMEA Capital is trying to raise $100 million for early-stage life sciences investments, according to multiple people briefed by CMEA’s Midwest partner in the fund, Kent Hawryluk. Hawryluk, a co-founder of Carmel-based drug development firm Marcadia Biotech, will oversee Midwest investments of the fund from Indianapolis, with a focus on biotech and pharmaceutical companies, according to people familiar with his plans. In addition, Oscar Moralez, managing director of the StepStone Angels network, plans to start pitching a new fund to investors early next year. His plans are to raise $10 million to $20 million to invest in technology companies, including life sciences firms, in Indiana and surrounding states. “We feel the timing is right,” said Moralez. He described the fund he wants to raise as, in part, a "sidecar" to help the seven companies now supported by StepStone Angels—six of which are life sciences companies—to continue to get the cash they need to grow.
Due to the closing of Franciscan St. Francis Health’s Beech Grove hospital, Select Specialty Hospital-Beech Grove relocated from Beech Grove to a new freestanding location at 8060 Knue Road in the Castleton neighborhood. In its new location, Select Specialty Hospital has 45 beds, on-site CT machines, lab services, a rehabilitation area and a cafeteria. The hospital will now be called Select Specialty Hospital – Indianapolis.A North Carolina-based maker of cancer-fighting ultrasound machines plans to create 27 jobs at its Indianapolis facility over the next three years. US HIFU LLC will add positions paying an average of $36 an hour at its offices at 4000 Pendleton Way, on the northeast side of the city along Interstate 465 near Pendleton Pike. The company already employs 15 people at that location. The new jobs are for engineers, researchers and support personnel to help US HIFU make its Sonablate 500 system, which uses "high-intensity and focused ultrasound" to treat cancer with fewer side effects. US HIFU, founded in 2004, has yet to receive regulatory approval for its technology, but the company is studying it in a U.S. clinical trial for treating prostate cancer and around the world as a potential treatment for other cancers. The new jobs were announced Monday morning by the Indiana Economic Development Corp., which promised the company up to $350,000 in conditional tax credits and up to $50,000 in training grants. Also, the company has applied to Marion County for property tax abatement.
Novia CareClinics LLC opened the first multi-employer clinic for downtown employers Monday at its headquarters at 429 N. Pennsylvania St. Novia, which operates 50 clinics statewide, made its latest clinic open to other employers. Harrison College, the law firm Plews Shadley Racher & Braun LLP and McFarling Foods Inc. have joined so far. The 1,200-square-foot health and wellness center, first made public in July, will be staffed with a physician and nurses, offering primary care services 40 hours per week. The four companies using it have more than 500 employees combined at locations in or near downtown. Novia has said it needs to sign up 1,000 employees to make the cost per employee reasonable. If employer demand proves high, Novia could expand its downtown clinic to as large as 2,000 square feet, add a second physician or nurse practitioner, and serve as many as 2,000 employees.
European Union regulators have agreed to review the drug vintafolide, discovered by West Lafayette-based Endocyte Inc., bringing it one step closer to reaching the market. Endocyte and its development partner, New Jersey-based Merck & Co. Inc., said the European Medicines Agency will review vintafolide, formerly known as EC145, as a treatment for ovarian cancer that is resistant to platinum-based chemotherapy. The agency also will review their application for an imaging agent that can help identify patients most likely to benefit from the drug. According to the Associated Press, vintafolide and the diagnostic agent both have orphan drug status, which means competing products will be barred from the market for up to 10 years if they are approved. Merck will pay Endocyte $5 million because the application was accepted.
The government dropped its antitrust concerns about health insurer WellPoint Inc.'s proposed acquisition of Amerigroup Corp. last week, clearing WellPoint to proceed with the $4.9 billion deal. According to the Associated Press, U.S. Department of Justice officials had objected to the proposed merger because WellPoint and Amerigroup are the only providers of Medicaid managed care plans in northern Virginia. To address that concern, Amerigroup agreed to sell its Virginia business, Amerigroup Virginia Inc., to Inova Health System Foundation. It did not disclose financial terms of that deal, which was announced in September and is conditioned on the closing of the WellPoint-Amerigroup merger. The sale to Inova ensures that Medicaid users will have at least two options for managed care, the Justice Department said.
Home health agency closes after losing reimbursement
Carmel-based ABC Homecare LLC closed last week after state and federal authorities cut off its access to Medicare and Medicaid reimbursement due to deficiencies cited by the Indiana State Department of Health.
KAR Auction Services declares first dividend
Carmel-based KAR Auction Services Inc. is declaring its first quarterly dividend since going public in December 2009.
VC funds hope to help early-stage life sciences firms
Early-stage venture capital has been harder and harder to come by for life sciences companies in recent years, but two Indianapolis investors are working to raise sizable funds to help fill the gap.
Demand soft for Big Ten football title game tickets
Organizers of the Big Ten Conference football championship game are facing third-and-long in their quest to fill Lucas Oil Stadium for Saturday night’s matchup. A glut of tickets remains available on the secondary market.
Durham fate rests in judge’s hands
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
Church’s fate in judge’s hands after insurance scheme sours
A federal judge will determine whether an Anderson church can exit bankruptcy with a lighter debt load, over objections from its bank lender, after a church scheme to profit by selling life insurance on its elderly members failed.
Upscale grocer Fresh Market planning Fishers store
Specialty grocery chain The Fresh Market is planning its third store in the Indianapolis area, this time at 116th Street and Cumberland Road in Fishers.
Roundup: Athleta, WB Pizza, Sabbatical, Blaze BBQ
A fresh roundup includes a new yoga outfitter, a homegrown small-plates restaurant, and a pizza arrival/pizza departure.
Leasing/leasing contracts
-Viet Hoa International Supermarket leased 25,200 square feet at Castleton Plaza, 6336 E. 82nd St. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Castleton Plaza LP, was represented by Josh Broadbent of The Broadbent Co.
-Shoe Carnival Inc. leased 25,000 square feet of retail space at 7565 US 31 South. The tenant was represented by Bob Byrne of Edge Commercial Real Estate LLC. The landlord, Nationwide, was represented by Bill French of Cassidy Turley.
-CPI Communications Products Inc. leased 13,072 square feet of office space at 7301 E. 90th St., Indianapolis. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Westminster Funds, was represented by Bryan Miller and Todd Vannatta of Cassidy Turley.
-Teddy’s Burger Joint leased 6,692 square feet of retail space in Merchants' Square, 1235 Keystone Way, Carmel. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, Merchants 450 LLC, was represented by Gilli Zofan of Ramco-Gershenson Properties Trust.
-Blume & Blume leased 6,400 square feet of industrial space at 4350 W. 10th St. The landlord, Speedway Industrial Park, was represented by Bill Byram of Cassidy Turley. The tenant represented itself.
-Federal Insurance Co. leased 5,658 square feet of office space at One American Square at Illinois and Ohio streets. The tenant was represented by Nick Arterburn of CBRE. The landlord, American United Life Insurance Co., was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Papa Joes Jr. leased 4,000 square feet at Avon Station, 8100 E US 36, Avon. The tenant was represented by Janice Paine of Colliers International. The landlord, Avon Station Inc., was represented by Michael Cranfill of Sitehawk Retail Real Estate.
-Bruce D. Brattain leased 3,043 square feet of office space at 151 N. Delaware St. The tenant was represented by Bill Moore of Cassidy Turley. The landlord, Hertz Investment Group, was represented by Crystal Houston of CBRE.
-Jack’s Donuts leased 1,611 square feet at The Bonn Building, 13578 E. 131st St., Fishers. The landlord, Bonn Building Partners LLC, was represented by Steve Delaney and Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.-Pizza Hut leased 1,124 square feet at Mohawk Landing, 729 S. Rangeline Road, Carmel. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Mohawk Investments LLC, represented itself.
-Pizza Hut leased 1,200 square feet at Arlington Square, 5914 E. 10th St. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Carnegie Cos. Inc., was represented by Thomas A Cortese III of Acorn Group Inc.
-Pizza Hut leased 1,200 square feet at New Palestine Plaza, 1396 S 600 West, New Palestine. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, New Palestine Plaza Inc., represented itself.
Construction
-JBM Contractors has completed a 1,817-square-foot office build-out for Manpower Inc. at 7216 N. Keystone Ave.
-JBM Contractors has completed a 2,836-square-foot office build-out for Artemis Medical Group at 14555 Hazel Dell Parkway, Carmel.
-Kort Builders has completed a 2,160-square-foot restaurant build-out for Punch Burger at 137 E. Ohio St.
Design stars land contract for transit hub
Architect Daniel Libeskind is part of an international team chosen to design a proposed IndyGo transit hub.
Insurance customer lawsuits dog CNO
CNO Financial Group appears to have wrapped its arms around the cost of settling a trio of consumer lawsuits involving life insurance rate hikes, but it’s not out of the woods yet.
Small stores vie for slice of holiday-shopping pie
National retailers are licking their chops over the $586 billion consumers are expected to spend during the holiday season, and small-business owners also are bellying up to the buffet.
EDITORIAL: Transit question is ‘how,’ not ‘if’
Mass transit advocates held a rally here to kick off Indy Connect Now, their latest attempt to convince state legislators that voters in Marion and Hamilton counties should be allowed to decide whether to fund creation of a $1.3 billion bus and light rail system in central Indiana.
2012 CFO OF THE YEAR: Bill Brunner
Bill Brunner, CFO at J.D. Byrider, is the top honoree in the private companies (revenue over $100 million) category.
John Wooden sculpture awkwardly earns national attention
Is he coaching or supervising an early stop on the leg lamp assembly line?
Construction
-Capitol Construction has completed an 850-square-foot fitness center in the Sheraton Indianapolis at City Centre, 31 W. Ohio St.
-Capitol Construction has completed a 2,525-square-foot lobby renovation at 3600 Woodview Trace.
-Capitol Construction has completed a 2,500-square-foot remodel of Lincoln Square Restaurant, 8150 Oaklandon Road.
-Capitol Construction has completed a 1,000-square-foot boardroom expansion at CNO Financial, 11825 N. Pennsylvania St., Carmel.