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Residential

The average rate for 30-year mortgages fell from 3.57 percent to 3.52 percent for the week ended May 1, according to Bankrate.com. The rate for 15-year mortgages fell from 2.80 percent to 2.75 percent.

Sales/acquisitions

Underwood Tile bought a 4,217-square-foot industrial building at 640-650 Murray St. The buyer and seller, Thomas J. Williamson Revocable Trust, were represented by Bob Lindgren and Mike Medlock of Lee & Associates.

Leases/leasing contracts

-Heartland Food Products Group leased 309,600 square feet of industrial space at 4925 W. 86th St. The tenant was represented by Fritz Kauffman and Don Treibic of Cassidy Turley. The landlord, Duke Realty, represented itself.

-Central Indiana Education Service Center leased 13,245 square feet of office space at 6026 6036 Lakeside Blvd. The tenant was represented by Yumi Prater of Colliers International. The landlord, GI Partners, was represented by Bryan Poynter and Russell Van Til of Cassidy Turley.

-The Men’s Wearhouse leased 6,553 square feet at Clay Terrace, 146th Street and U.S. 31, Carmel. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Clay Terrace Partners LLC, was represented by Pat O’Hara of Simon Property Group.

-Pet Supplies Plus leased 6,400 square feet at Fishers Crossing, 7230 Fishers Crossing Drive, Fishers. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate and John Liprando of Sullivan Hayes. The landlord, Viking Partners Fishers LLC, was represented by Kyle Hughes and Jamison Downs of Veritas Realty LLC.
 
-Jockamo Irvington LLC renewed its lease for 5,468 square feet of retail space at 5614-5646 E. Washington St. The landlord, Irv LLC, was represented by John Byrne of Cassidy Turley. The tenant represented itself.  

-Indiana Association of 7th Day Adventists Inc. leased 2,773 square feet of office space at 7301 Georgetown Road. The tenant was represented by Nathan Smith of Colliers International. The landlord, GCP Investment LLC in care of Mann Properties Management, was represented by Craig Cleveland of Mann Properties.

-Preventive Care Medical LLC leased 2,750 square feet of office space at 7430 N. Shadeland Ave. The landlord, SNAG LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.

-Stonegate Mortgage Corp. leased an additional 1,776 square feet at 1499 Windhorst Way, Greenwood. The tenant was represented by Nick Svarczkopf and John Vandenbark of CBRE. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.

-Thomas Mascari leased 1,600 square feet of retail space at 3001 Meridian Meadows, Greenwood. The landlord, Bayview Loan Servicing LLC, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.  

-H&R Block leased 1,400 square feet of retail space at 8958 8974 E. 96th St., Fishers. The landlord, C III Asset Management, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.  

-Great Clips leased 1,200 square feet of retail space at 1600 E. Michigan Road, Shelbyville. The landlord, C III Asset Management, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.  

-LCS Avon LLC leased 880 square feet of office space at 6845 E. U.S. Highway 36, Avon. The landlord, Westridge Office Park II LLC Receivership Estate, was represented by Nathan Smith of Colliers International. The tenant represented itself.

Biosciences institute aims for $300M endowment

The effort to launch the Indiana Biosciences Research Institute got $25 million from the Legislature, but the life sciences institutions backing the effort have set their funding sights much higher.

Police seek hit-and-run driver

Police are searching for a dark-green Chevrolet Blazer with front-end damage that struck and killed a 52-year-old Indianapolis man late Saturday night. Earmon “Bud” Hubbard III was riding his bike southbound on North Emerson Avenue shortly before 10 p.m. when he was hit from behind by the SUV, which fled the scene. Hubbard later died at the hospital.

Pence lowers flags for Bowen

Gov. Mike Pence has directed flags across Indiana be flown at half-staff through next Saturday to honor former Gov. Otis "Doc" Bowen, who died Saturday night at 95. Services for Bowen will be held this week in Bremen, with callings on Wednesday and Thursday, and the funeral Friday at 11 a.m.

There’s good reason for Pacers fans to love Knicks

Every hero needs a villain. And the Knicks have always been the perfect villain to galvanize the Pacers' fan base. The big-city Knicks are the bad guys again this year at a crucial time for the Pacers in Indianapolis.

Company news

Diagnotes Inc., an Indianapolis-based health IT company, announced today that it has closed on $1 million in funding from life sciences and early-stage growth company investors. The investment group was led by Indiana University’s Innovate Indiana Fund and includes BioCrossroads’ Indiana Seed Fund II, Stepstone Angels and other investors. The funding will help Diagnotes commercialize its communication system for on-call health care providers. The Diagnotes system allows providers and patients to connect with on-call doctors and nurses while delivering key patient information from the electronic health record to the point of care.

Endocyte Inc. recorded $14.5 million in revenue during the first quarter and a loss of $3.9 million, or 11 cents per share. The West Lafayette-based drug development firm is still working with European regulators to win approval to launch its first drug, vintafolide. The drug, targeted for drug-resistant ovarian cancer, would be commercialized with New Jersey-based Merck & Co. Inc. Merck’s payment last year of $120 million is Endocyte’s sole source of revenue. The company’s cash pile declined during the first quarter from $201.4 million to $185.9 million. Endocyte officials reaffirmed their predictions that the company will have cash and cash equivalents between $145 million and $160 million at the end of 2013.

Franciscan St. Francis Health has partnered with WhatNext.com, a Carmel-based online support network that matches up cancer patients according to their diagnosis, stage and age. More than 10,000 Americans have registered to use WhatNext.com, including 400 patients in Indiana. “People are trying to make sense of a whole universe of new and staggering volume of medical information at the same time they are trying to figure out what’s next and to stay emotionally strong,” said David Wasilewski, who launched WhatNext.com in September 2011. “Our site helps patients benefit from those who have been there.”

Lilly taking hard look at Pfizer’s new Viagra strategy

Major drugmakers, including Indianapolis-based Eli Lilly and Co., are closely watching Pfizer Inc.’s plan to sell Viagra directly to consumers. The bold move blows up the drug industry’s distribution model.

People

Indiana University Health has named Dennis Murphy chief operating officer of its hospital system. Murphy will come to IU Health on July 22 from Northwestern Memorial HealthCare in Chicago, where he has most recently been chief operating officer. Murphy holds a bachelor’s degree from the University of Notre Dame and a master's degree in health care administration from Duke University.

Dr. Suzanne Grannan, a pediatrician, has joined Community Physician Network, which is part of the Community Health Network hospital system. She holds a medical degree from the Indiana University School of Medicine.

Dr. Justin Hollen, a family physician, has joined Community Physician Network. He completed his medical degree at Ross University School of Medicine in New Jersey.

ISTEP troubles show test considered too big to fail

Beyond the obvious and critical role it plays in determining how children advance in school, the test has more recently become a barometer for whether teachers get pay increases and whether schools are making the grade.