Daniels, bankers may spar over deposit insurance fund
Elected officials—including Gov. Mitch Daniels—have started eyeing the little-known, $250 million public deposit insurance fund, or PDIF, as a potential way to plug budget gaps next year.
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Clarian moves forward with downtown expansion
Clarian Health, after the 2008 financial meltdown forced it to halt its aggressive building campaign, put the hard hats back to work in 2010.
Leases/leasing contracts
-The Marion County Election Board leased 40,750 square feet of retail space at 3737 E. Washington St. The tenant was represented by Wendy Michaels of Venture Real Estate Services. The landlord, Icahn Enterprise Holdings LP, was represented by Bob Lindgren and Rick Jones of Lee & Associates.
-All Tune and Lube Center leased 5,400 square feet at 7920 W. 10th St. The tenant was represented by Jodi Milto of Midland Atlantic. The landlord, Jim Crews, was represented by John Fox of Prime Site Brokers.
-Kindred Nursing Centers renewed its lease for 4,740 square feet of space at Woodland I, 8275 Allison Pointe Trail. The landlord, TIC Properties Management LLC, was represented by Bryan Miller of Cassidy Turley. The tenant represented itself.
-LaSalle Street Securities extended and expanded its lease to 2,953 square feet at Woodland I, 8275 Allison Pointe Trail. The landlord, TIC Properties Management LLC, was represented by Bryan Miller of Cassidy Turley. The tenant represented itself.
-Liberty Tax leased 2,500 square feet at 5329 N. Keystone Ave. The landlord, Brooks Investment Co., was represented by Jeff Hubley of Midland Atlantic. The tenant represented itself.
-Katie’s Professional Dog Grooming leased 2,400 square feet at 234 E. Main St., Plainfield. The landlord, BAO Enterprise, was represented by Jodi Milto of Midland Atlantic. The tenant represented itself.
-All Tune and Lube Center leased 2,000 square feet at 6340 Rockville Road. The tenant was represented by Jodi Milto of Midland Atlantic. The landlord, Shiloh Holdings LLC, represented itself.
-Titan Restaurant Group LLC, doing business as Donato’s Pizzeria, leased 2,000 square feet at Page Pointe, 435 Virginia Ave. The tenant was represented by Jeff Hubley of Midland Atlantic. The landlord, Page Pointe Development LLC, was represented by Rob Odendahl of Page Development.
-PHI Air Medical Inc. leased 1,936 square feet of office space at 3500 Depauw Blvd. The tenant was represented by Tim Craft of CB Richard Ellis. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd, and Bennett M. Williams of Cassidy Turley.
-D&M Continuous Solutions LLC leased 1,800 square feet of office space in Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.
-P&R Construction leased 1,800 square feet of industrial space in Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.-Li’s Garden leased 1,400 square feet at Wildcat Shops, 5650 S. Franklin Road. The tenant was represented by Karen Yan of Best Value Realty LLC. The landlord, MAP Franklin Road LLC, was represented by Jeff Hubley of Midland Atlantic.
UPDATE: United Kingdom mall owner rejects Simon bid
Capital Shopping Centres Group Plc, the United Kingdom’s biggest shopping mall owner, turned down Simon Property Group Inc.’s $4.6 billion bid, describing it as “inadequate.”
Simon bids $4.6B for U.K.’s Capital Shopping
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
Roundup: Urban Element, Lovers Lane, Jets Pizza, IHOP, Taco Bell, Music Mill
Urban Element reopens under new ownership and several pizza chains plan new stores.
CIB OKs $2.6M in carpet upgrades for convention center
Capital Improvement Board plans to spend about $2.6 million to replace 370,000 square feet of carpeting in the older portion of the Indiana Convention Center to match the carpet in the new addition.
Fishers-based mortgage company to add 300 jobs
Stonegate Mortgage Corp. plans to move next spring from its current location near 106th Street and Allisonville Road to a 29,000-square-foot office near 106th Street and State Road 37.
Feds charge Marsh with unfair labor practices
The National Labor Relations Board filed a formal complaint after investigating charges that Marsh Supermarkets threatened and intimidated employees to discourage them from forming a union. The grocery chain also allegedly fired an employee for supporting the union.
ITT Educational, for-profit peers reaped $521M from military
Twenty for-profit colleges—led by Carmel-based ITT Educational Services—reaped $521 million in U.S. taxpayer funds in 2010 by recruiting armed-services members and veterans through misleading marketing, according to a Congressional report released Thursday.
Lender seeking to foreclose on northwest-side hotel
Colfin NW Funding LLC claims in a court filing that it is owed $6.4 million by the borrower that operates the Courtyard By Marriott Hotel Northwest under Indianapolis-based Schahet Hotels Inc.
Company news
Community Health Network launched a new smartphone application for scheduling appointments online, WebAhead, making it available to patients at six MedCheck walk-in clinics in central Indiana. WebAhead, developed by Community’s e-business team, allows patients to use their smartphones to search for the most convenient appointment times and MedCheck locations. Patients can schedule appointments up to 24 hours in advance, using an iPhone, Android, BlackBerry or computer. Community likens the service to call-ahead seating services at restaurants. “Almost one-half of all Americans are accessing the Internet using a wireless device or smartphone for work, entertainment and social responsibilities,” said Dan Rench, vice president of e-business at Community Health Network. “Accessing health care with one’s smartphone is a natural next step.”
It’s been a banner year for the Indiana Economic Development Corp. securing job commitments in the life sciences industry, the agency reported this week. Twenty life sciences companies including Indianapolis-based Dow AgroSciences, Indianapolis-based AIT Laboratories, Warsaw-based Biomet and Missouri-based Ascension Health promised to bring 4,071 jobs to Indiana in coming years. That commitment total compares with 1,228 life sciences job commitments last year, 1,329 in 2008, 2,990 in 2007, 2,620 in 2006 and 2,272 in 2005. "Life sciences jobs are typically high-wage, which is great news for Indiana workers throughout the state," said Indiana Secretary of Commerce Mitch Roob.
An Indianapolis-based nursing home company will pay $376,000 to the state and federal governments over accusations that it submitted ineligible bills to Medicaid, according to the Associated Press. Indiana Attorney General Greg Zoeller said Monday that the bills from American Senior Communities LLC were for the work of seven employees who have been excluded from the Medicaid program. The company has denied liability. Zoeller says the federal government excludes health care workers who are convicted of various crimes from participating in Medicaid and other federally funded health programs He said the settlement is the largest his office has received in a Medicaid excluded-provider case to date. He said the state's share of the settlement is $130,000.
WellPoint Inc.’s management team will shrink to eight following the departures of two more top executives. Cynthia Miller, the health insurer’s chief actuary, and Bradley Fluegel, chief strategy officer, both are leaving the Indianapolis-based company, according to a WellPoint securities filing. It did not precisely say when the officers' employment would end. Both executives, along with CEO Angela Braly, played prominent public roles when the company became the center of controversy in the health care reform debate. Miller appeared with Braly before Congress to defend premium hikes for individual customers in California. Fluegel handled WellPoint’s government relations during the 10-month reform debate. Miller and Fluegel’s departures follow the exit of Dijuana Lewis, who clashed with Braly in October. Lewis was terminated “without cause” but is helping with the transition of her duties to others within the company. In place of Miller, WellPoint Chief Financial Officer Wayne DeVeydt will assume responsibility for the actuarial group. Fluegel’s government relations and communications duties will be assumed by General Counsel John Cannon and his strategic and marketing oversight will be handled by Brian Sassi, WellPoint’s president of consumer business.
SHELLA: Spoils of redistricting go to the victor
Indiana politicians have never shown an interest in leaving the redistricting duty to others, and don’t look for it to happen anytime soon.
Art museum names fundraising chief
Cynthia Rallis, who begins work Jan. 1, held a similar job at the National Museum of Science and Industry in London.
Nursing home firm to pay $376K in Medicaid case
Indiana Attorney General Greg Zoeller says a nursing home company will pay $376,000 to the state and federal governments over accusations that it submitted ineligible bills to Medicaid.
Leasing/leasing contracts
-Ascension Health Ministry Service Center. also known as Ascension Health, leased 92,000 square feet at Eleven Fortune Park. The tenant was represented by Bill Ehret and Katie Sobotowski of Summit Realty Group. The landlord, Eleven Fortune Park Limited Partnership, was represented by Ron Foster of Echelon Realty Advisors and by IBUS Asset Management, the limited partnership’s Washington, D.C.-based asset manager.
-Halakar Real Estate has been hired by Equicor Cos. to be the exclusive leasing agent for Waterplace Park, a 113,000-square-foot property at 8925-9011 N. Meridian St., and Fidelity Keystone Office Tower, a 37,000-square-foot building at 650 E. Carmel Drive, Carmel. Halakar’s Ashley Bussell, Ralph Balber and Todd Maurer will be in charge of leasing for the properties.
-Bycan-Sellen leased 12,806 square feet of industrial space at 7998 Centerpoint Drive. The landlord, ING Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.
-Sallie Mae Inc. leased 10,400 square feet of industrial space at 9900 Westpoint Drive, Nos. 118 and 120. The landlord, ING Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.
-EMP Technology Group LLC leased 8,120 square feet of industrial space at 15309 Stony Creek Way, Noblesville. The tenant was represented by Fritz Kauffman of Cassidy Turley. The landlord, Gulf Shores LLC, was represented by Chris Black of CB Richard Ellis.
-A&F Engineering Co. LLC leased 7,560 square feet of office space at 8365 Keystone Crossing. The tenant was represented by Tim O’Connor of Prudential Indiana Realty Group. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin of Cassidy Turley.
-PrimeLending leased 6,216 square feet of office space at 9100 Meridian Square, 50 E. 91st St. The tenant was represented by Richard Trimpe of CB Richard Ellis. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin of Cassidy Turley.
-Stifel Nicolaus & Co. leased 5,740 square feet at 8888 Keystone Crossing. The tenant was represented by Jay Stewart of Grubb & Ellis. The landlord, BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Fall Creek Montessori Academy leased 5,400 square feet at 8888 Fitness Lane, Fishers. The tenant was represented by David Kiernan HR Realty Group LLC. The landlord, Midwest Properties, was represented by Keith Dedrick of Corporate Commercial Group.
-Educate Beyond All Barriers Inc. leased 5,200 square feet of industrial space at 2101 S. State Ave. The landlords, Norman and Dianne Meurer, were represented by Kelly Williams of Cassidy Turley. The tenant represented itself.
-10/01 leased 4,500 square feet of restaurant space at 1001 Broad Ripple Ave. The tenant was represented Michael Cranfill of Sitehawk Retail Real Estate. The landlord, 1001 Properties Inc., was represented by Gary Perel of UrbanSpace.
-Woodland Montessori Inc. leased 4,334 square feet of office space at 10305 N. Allisonville Road. The tenant was represented by Jeff Merritt of Summit Realty Group. The landlord, JMH Properties LLC, was represented by Scott H. Lindenberg and Jason Challand of Echelon Realty Advisors.
-MS Consultants leased 3,627 square feet at 8900 Keystone Crossing. The tenant was represented by Nick Svarczkopf of CB Richard Ellis. The landlord, BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-American Society of Clinical Pathology leased 3,179 square feet at 8900 Keystone Crossing. The landlord, BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.
-Rimkus Consulting Group Inc. leased 3,021 square feet of office space at One College Park. The tenant was represented by Scott H. Lindenberg of Echelon Realty Advisors. The landlord, Zeller Management Co., represented itself.
-Patton & Associates leased 2,666 square feet at 9000 Keystone Crossing. The tenant was represented by Rob Chrisman of Bridge Real Estate Advisors Inc. The landlord, BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Subway has entered a build-to-lease deal with Holladay Properties Inc., which will build a 2,100-square-foot free-standing restaurant on nine-tenths of an acre at 8240 Belfast Drive at the entrance to AmeriPlex Business Park. The landlord, Holladay, was represented by Ryan Zickler of Zickler Associates. The tenant represented itself.
-SC Hoskins and Co. leased 2,045 square feet at Franklin Professional Center, State Road144 and Westview Drive, Franklin. Both the tenant and landlord, Landmark Properties Inc., represented themselves.
-Pilates Indy Inc. leased 1,400 square feet at Greenwood Springs, 8028 S Emerson Ave. The landlord, Regency Realty Group Inc., was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.-Employment Plus Inc. leased 1,250 square feet of retail space in South Greenwood Shoppes, 6001 N. U.S. 31, Whiteland. The tenant and the landlord, HRCP Inc., were represented by Cathy Richards of Lee & Associates.
-Definitive Auto Sales LLC leased 1,250 square feet of retail space in South Greenwood Shoppes, 6001 N. U.S. 31, Whiteland. The tenant and the landlord, HRCP Inc., were represented by Cathy Richards of Lee & Associates.
-Hello Indiana LLC leased 800 square feet of retail space at 3119 W. 30th St. The tenant and the landlord, DEWERCS One LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
-Service Master @ Your Service LLC leased 662 square feet of office space at 5455 W. 86th St. The landlord, Polaris Commercial investments LLC, was represented by Scott H. Lindenberg of Echelon Realty Advisors. The tenant represented itself.
-Lewis Legal Services leased 663 square feet of office space at 5455 W. 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Scott H. Lindenberg of Echelon Realty Advisors. The tenant represented itself.
Controversial Martin University president to retire this month
Algeania Freeman will retire Dec. 31 after three years at the school, officials said late Monday morning. Former NCAA executive Charlotte Westerhaus will serve as acting president while the predominantly black university conducts a nationwide search for a new leader.
St. Francis Hospital project targets Greenwood’s growth
The $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000 to 2009.
Abandoned United Airlines repair base now bustling
Seven years ago, United Airlines abandoned the 1.7-million-square-foot aircraft repair base that once employed 3,000 people. Today, the mall-sized complex is humming and is essentially fully occupied.