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Grid operators feud over transmission lines, payments

Midcontinent Independent System Operator Inc.’s recent expansion into the South has thrust the Carmel group into a dispute over whether it has to pay for using another firm’s power lines.

Lilly diabetes drug matches competitors’ effectiveness

The Indianapolis drugmaker said dulaglutide performed as well as Victoza, a best-selling drug for Type 2 diabetics made by Denmark-based Novo Nordisk. Analysts think dulaglutide could reach annual sales of $1.5 billion.

State Auto’s Midtown HQ building on block

State Auto Insurance is seeking to sell its nearly 200,000-square-foot regional headquarters building in Midtown and is listing the property for $9.1 million.

Indiana Wesleyan measure stirs religion debate

A measure designed to restore Indiana Wesleyan University's workforce training contract with the state unexpectedly raised issues about religious discrimination Monday in the General Assembly.

Indiana Senate amends pre-K education bill

The Indiana Senate shot down two proposed amendments to the pre-K education bill Monday, before finally accepting an amendment to add another member to the study commission.

Do Not Call expansion advances with exemptions

A House committee unanimously passed a bill Monday that would expand restrictions on telephone solicitation – after adding an amendment to exempt some types of organizations.

Construction

-TMG Construction Management Inc. has been hired to complete a 40,479-square-foot build-out for The RoomPlace at 8401 Michigan Road.

-TMG Construction Management nc. has been hired to build a 2,537-square-foot Chipotle Mexican Grill at 1002 Broad Ripple Ave.

Big Ten men’s basketball tourney already sold out

The tournament is returning to downtown’s Bankers Life Fieldhouse after being played at the United Center in Chicago a year ago. It will be the ninth time Indianapolis has hosted the tournament in the event's 16-year history.

Residential

The average rate for 30-year mortgages rose from 4.48 percent to 4.49 percent in the week ended Feb. 20, according to Bankrate.com. The rate for 15-year mortgages fell from 3.53 percent to 3.52 percent.

Leasing/leasing contracts

-Rubber Products Distributors leased 43,984 square feet of industrial space at 5230 Park Emerson Drive. The tenant was represented by Bart Book of Cassidy Turley. The landlord, Emerson Industrial Building II LLC, was represented by J.D. Graves of CBRE.

-US Default Group LLC leased 5,384 square feet of office space at 8455 Keystone Crossing. The tenant was represented by Peter Alveal and Andreas Kapsalis of Premier Commercial Real Estate Services. The landlord, Quality Bancorp Inc., dba Salin Bank & Trust Co., was represented by Jon Owens and Russ Van Til of Cassidy Turley.

-Perfect 10 Enterprises Inc. renewed its lease for 3,810 square feet of retail space in The Pointe, 1259 N. State Road 135, Greenwood. The tenant and landlord, Sun Greenwood LLC, were represented by Cathy Richards of Lee & Associates.
    
-Marion County Democratic Central Committee leased 3,415 square feet of office space in the Barrister Building, 155 E. Market St. The tenant was represented by Bill Ehret of Summit Realty Group. The landlord, Crown Barrister LLC, was represented by Larry W. Harshman of Harshman Property Services LLC.

-Sipes Law leased 2,605 square feet of office space in the Stock Yards Bank Building, 136 E. Market St. The tenant was represented by Alex Sanders of Newmark Knight Frank Halakar. The landlord, Crown Stock Yards LLC, was represented by Larry W. Harshman of Harshman Property Services LLC.

-Pad Thai leased 1,765 square feet of retail space in Sophia Square, 110 W. Main St., Carmel. The tenant was represented by Hamada Ibrahim of RP Lux Commercial Real Estate Services. The landlord, Keystone Realty, was represented by Bart Jackson and Scot Courtney of Lee & Associates.

-Rector Communications LLC leased 1,563 square feet of office space in the Stock Yards Bank Building, 136 E. Market St. The landlord, Crown Stock Yards LLC, was represented by Dawn McClanahan of Harshman Property Services LLC. The tenant represented itself.

-AlphaGraphics leased 1,400 square feet of retail space in Westover Commons, 577 S. Dan Jones Road, Avon. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, Westover Commons Development Corp., was represented by Joe Lonneman of Ambrose Property Group.
 
-Perez & Perez leased 1,166 square feet of office space in the Stock Yards Bank Building, 136 E. Market St. The landlord, Crown Stock Yards LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

-Attorney Carl L. Epstein leased 606 square feet of office space in the Barrister Building, 155 E. Market St. The landlord, Crown Barrister LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

-Aldi (Indiana) LP leased 2.58 acres of retail land at 284-310 S. State Road 135, Greenwood. The tenant was represented by Jim Abel of Lee & Associates. The landlord, Union Streams LLC, represented itself.

Sales/acquisitions

-1132 Rangeline Road LLC bought a 8,726-square-foot office building at 1132 Rangeline Road. The seller, Dearborn Street Holdings LLC, was represented by Derek Menerey and Matt Kiger of Newmark Knight Frank Halakar. The buyer represented itself.
 
-Tobey Partners LLC bought a 24,639-square-foot industrial building at 2725 Tobey Drive. The buyer was represented by Kyle Powell of Ambrose Property Group. The seller, Rubber Products Distributors, was represented by Bart Book of Cassidy Turley.

-Cesar Chavez LLC bought The Shoppes at Southport Square, a 5,200-square-foot shopping center at 3935 E. Southport Road. The buyer was represented by Dan Powers of CBRE. The seller, Southport Square Shoppes LLC, was represented by Scot Courtney and Bart Jackson of Lee & Associates.
 

Life sciences jobs pack 2-for-1 punch

While life sciences companies don’t rack up huge jobs numbers, their relatively high pay means that every job they create is worth two in the rest of the private sector.

Indiana’s hospitals face Obamacare timing problem

The Obama administration’s delays of Obamacare’s employer mandate penalties mean it will be another year or two before hospitals see the additional revenue the law was supposed to bring them.

Company news

Online physician visits could become far more common in Indiana this year under a bill pending in the General Assembly. House Bill 1258 would allow the large health insurer Anthem Blue Cross and Blue Shield to launch a pilot program using the Live Health Online technology it has developed with Massachusetts-based software firm American Well Corp. The technology—which allows doctors to make virtual house calls via a Skype-like video and chat portal—would expand access to health care by making physicians available at odd hours and to patients in far-flung areas. The pilot would be conducted by primary care physicians at Indianapolis-based American Health Network, a large primary care physician practice. The pilot could last as long as six months and would involve at least 200 online visits. After the pilot phase, the Medical Licensing Board of Indiana then would be able to decide whether to expand online visits statewide and under what restrictions, if any. Since 2003, the Medical Licensing Board has restricted those visits to patients and doctors who have had an in-person encounter. HB 1258 would remove that restriction, allowing doctor-patient consultations where no relationship existed.

Eli Lilly and Co. will acquire all assets of Germany-based Lohmann SE and its subsidiary, Lohmann Animal Health. The assets include vaccines and feed additives and manufacturing sites in Cuxhaven, Germany, and Winslow, Maine. No terms were released, but Indianapolis-based Lilly said Monday that its 2014 earnings forecast will be trimmed due to acquisition costs. Lohmann Animal Health had sales of $342 million in fiscal 2012. It has about 600 employees in more than 30 countries. In November, Reuters reported that Boehringer Ingelheim was considering an offer for Lohmann Animal Health estimated at $535 million. Lilly said the acquisition will significantly increase the ability of its Elanco Animal Health subsidiary to make vaccines. Competing in that market is a "cornerstone" of the subsidiary's long-term strategy, the company said. The deal is expected to close in the second quarter.

A panel of House lawmakers Feb. 20 approved a one-year ban on construction of nursing homes, according to the Associated Press. The measure passed the Ways and Means Committee 12-7. The Senate authors of the measure originally sought a five-year moratorium, but Ways and Means Chairman Tim Brown, R-Crawfordsville, suggested the length be trimmed to give lawmakers time to decide if a ban is needed. The ban is at the center of an ongoing debate between the state's existing nursing homes and developers leading a wave of construction across the state.

The University of Indianapolis plans to spend $50 million over five years on major construction projects. The bulk of the money will be spent on a 134,000-square-foot health sciences center, which will provide training space for UIndy’s nursing, physical therapy and other health care students, as well as for a community health care facility. Over the next two years, the UIndy will also renovate its Krannert Memorial Library, replace its Campus Apartments on Shelby Street with newer housing options and expand its science labs. UIndy also plans to hire additional faculty for key programs and launch men’s and women’s lacrosse teams.

Shares of Eli Lilly and Co. rose last week after the Indianapolis-based drugmaker revealed that an experimental drug boosted overall survival among lung cancer patients in a large Phase 3 trial. When ramucirumab was applied to non-small cell lung cancer, along with a traditional chemotherapy drug, it showed a statistically significant extension of the time of overall survival when compared with patients who only took the chemotherapy drug, Lilly said Feb. 19. The company plans to submit ramucirumab for market approval with the U.S. Food and Drug Administration later this year. The drug has already shown positive results as a treatment for gastric cancer, and Lilly is studying the drug as a liver cancer treatment as well. Wall Street analysts have modest expectations for ramucirumab. Bernstein Research analyst Tim Anderson expects sales next year of $167 million, ramping up to $669 million by 2020.

People

Dr. Zachary Dodd, a spine surgeon, has joined the OrthoIndy practice of orthopedic surgeons and its Indiana Orthopaedic Hospital in Indianapolis. Dodd received his bachelor’s degree in biology from Wabash College. He did his medical training at the Indiana University School of Medicine.

John Cannon, credited with righting the ship at WellPoint Inc., was terminated without cause last week. The Indianapolis-based health insurer said Cannon will remain with the company until early March to help in the transition of his duties as general counsel and chief public affairs officer. Cannon, 60, served as WellPoint’s interim CEO from August 2012, when the company’s board ousted CEO Angela Braly under pressure from investors, until March 2013, when current CEO Joe Swedish took the helm. Cannon came to WellPoint from Philadelphia-based Cigna Corp., where he worked for 19 years, ultimately becoming deputy general counsel.

Climate case at Supreme Court looks at EPA’s power

The Obama administration is squaring off at the Supreme Court with industry groups and Republican-led states, including Indiana, over a small but important program aimed at limiting power-plant and factory emissions of gases blamed for global warming.