Leave fund alone
In reading the editorial, “Let’s consider tapping bank fund,” in the Jan. 3 issue, several corrections are appropriate.
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More unemployment claims filed nationally last week
The U.S. Labor Department says applications for unemployment aid rose by 18,000 to a seasonally adjusted 409,000 in the week ending Jan. 1. Applications fell to 391,000 in the previous week, the lowest point since July 2008.
Indiana took in more revenue than expected last month
The state reports it took in $137 million more last month than during December 2009, marking a 13 percent increase in revenue collections over last year.
Key road projects await busy INDOT
The ongoing rehab of Interstate 465 will continue to be the biggest highway project in the metro area in 2011, but the rebuilding of an 11-mile segment on the west side could be all but finished by the end of the year—just when other significant highway projects will get under way in the metro area.
DINING: Jersey’s Cafe satisfies a Jersey boy
First in a month-long series of looks at restaurants not far from the new Palladium in Carmel.
New tax law packed with gifts for businesses
Millions of homeowners, however, might feel like they got a lump of coal. Homeowners who don’t itemize their deductions will lose a tax break for paying local property taxes.
Leases/leasing contracts
-Bedrock International renewed its lease for 32,000 square feet of industrial space in Park 100, 7951 Zionsville Road. The tenant was represented by Kelly Williams of Cassidy Turley. The landlord, ProLogis, was represented by Andrea Hopper of ProLogis.
-Little Miracles Inc. leased 4,357 square feet of retail space in Geist Crossing Shoppes, 9737 Fall Creek Parkway. The tenant was represented by Don Ballard and Ron Mannon of Lee & Associates. The landlord, Glendale Partners of Shadeland Crossing LLC, was represented by Paul Rogozinski of Veritas Realty LLC.
-Alpine Power Systems leased 4,000 square feet at Park Fletcher Distribution Center, Building 17, Suite L, 2040 S. Lynhurst Drive. The tenant was represented by Conrad Jacobs of Halakar Real Estate. The landlord, ProLogis-North Carolina LP, was represented by Chris Black of CB Richard Ellis.
-Altria Sales & Distribution leased 3,988 square feet of office space at 8440 Woodfield Crossing. The tenant was represented by Joel Oppenheim of The Oppenheim Group. The landlord, Cassidy Turley, was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley.
-Jays Moving Co. leased 3,600 square feet at Park Plaza Business Center, 5795 Park Plaza Court. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, First Industrial Realty Trust, was represented by John Hanley and Nikhil Gunale of CB Richard Ellis.-R&T Trenching leased 3,200 square feet at 23rd Street Industrial, 4902 E. 23rd St. The landlord, Garfield LLC, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.
-Grandbridge Real Estate Capital leased 2,738 square feet at 300 N. Meridian St. The tenant was represented by Rick Trimpe of CB Richard Ellis. The landlord, University Park Associates LLC., was represented by Mike Napariu of REI Real Estate Services.
-Family Peace and Unity Inc. leased 2,500 square feet at 23rd Street Industrial, 4840 E. 23rd St. The landlord, Garfield LLC, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.
-JT Alternations leased 2,400 square feet at Keystone Plaza, 2315 E 53rd St. The landlord, Keystone Plaza Associates, was represented by Larry Davis and Scott Gray of Sitehawk Retail Real Estate. The tenant represented itself.
-Ryan Jay, DDS, leased 2,400 square feet of retail space at 12110 Pendleton Pike. The tenant was represented by Ron Mannon of Lee & Associates. The landlord, Family Video Movie Club, represented itself.
-R. Lynda a Women’s Dress Boutique, leased 2,341 square feet at Traders Point Shopping Center, 6010 W. 86th St. The tenant was represented by Keith Fried of Sitehawk Retail Real Estate. The landlord, Kite West 86th Street LLC, was represented by Blake Beaver of Kite Realty Group.
-Arepas Caracas Grill leased 2,220 square feet at Crooked Creek Shoppes, 7940 N. Michigan Road. The tenant was represented by Kelli Membreno of Libertad Real Estate LLC. The landlord, Crooked Creek Shoppes, was represented by Greg Smith and Joe Tarpey of Colliers International.
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.
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.