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Residential

Mortgage rates were steady in the week ended Jan. 2, according to Bankrate.com. The average rate for 30-year mortgages dropped from 3.59 percent to 3.58 percent. The rate for 15-year mortgages rose from 2.87 percent to 2.88 percent.

Leases/leasing contracts

-County Line Emporium leased 85,000 square feet at West Washington Street Center, at West Washington Street and Interstate 465.  The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, West Washington Street Partners LLC, represented itself.

-Indiana Institute of Technology leased 19,806 square feet of office space at 3500 Depauw Blvd. The tenant was represented by Yumi Prater of Colliers International. The landlord, Sterling American Property Inc., was represented by Dave Moore, Darrin Boyd and Bennett Williams of Cassidy Turley.

-Oobatz leased 5,784 square feet at 3716 E. 82nd St.  The landlord, Clearwater I LLC, was represented by Liz Yoho of Providence Development. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate.

-Anytime Fitness leased 5,000 square feet of retail space at 1901-1943 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.

-Maxim Healthcare Services Inc. leased 4,511 square feet of office space at 6505 E. 82nd St. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.  

-Massage Envy leased 4,049 square feet at Northfield Commons, Northfield Drive and N. County Road 625 East, Brownsburg. The tenant was represented by Tracey Holtzman of Midland Atlantic. The landlord, Brownsburg Development LLC, was represented by Liz Yoho of Providence Development.   

-AthleticCo Physical Therapy leased 3,313 square feet at Cornerstone Commons, 912 S. Rangeline Road, Carmel.  The tenant was represented by Craig Ramsay of Sitehawk Retail Real Estate. The landlord, B&D Carmel Properties LLC, was represented by Paul Dick of Colliers International.

-Tax Management Associates Inc. leased 3,138 square feet of office space at 6081 E. 82nd St. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.

-Piada Italian Street Food leased 3,011 square feet at Rangeline Crossing, 116th Street and Rangeline Road, Carmel. The tenant was represented by Steve Delaney of Sitehawk Retail Real Estate. The landlord, KRG Centre LLC, was represented by Blake Beaver of Kite Realty Group.  

-Golf Etc. Avon leased 2,500 square feet of retail space in Avon Commerce Crossing, 8179 E. U.S. 36, Avon.  The landlord, Commerce Crossing, LLC, was represented by Brett Burch of Valenti Real Estate Services Inc. The tenant represented itself.

-Tegry Bistro leased 2,495 square feet at Geist Pavilion, 11501 Geist Pavilion Drive, Fishers. The landlord, 116th & Olio LLC, was represented by Andrew Hasbrook of Kite Realty Group. The tenant represented itself.

-McNamara Florist leased 2,262 square feet of retail space at 10106 Brooks School Road, Fishers. The tenant was represented by Bill French of Cassidy Turley. The landlord, FCH Associates LLC, was represented by Cindy Hoskinson of Lee & Associates.
 
-Jude Momodu Holdings LLC leased 1,800 square feet of office space at 480 E. Northfield Drive, Brownsburg.  The landlord, Crouse Management LLC, was represented by Brett Burch of Valenti Real Estate Services Inc. The tenant represented itself.

-Marco’s Pizza leased 1,711 square feet at Bridgewater Marketplace , 14641 N. Gray Road, Westfield. The tenant was represented by Andrew Clifford of 7D Commercial Real Estate. The landlord, KRG Bridgewater LLC, was represented by Blake Beaver of Kite Realty Group.  
 
-Yats Cajun Creole Restaurant leased 1,600 square feet at Traders Point II, 5650 W. 86th St., Suite 132. The tenant was represented by Gary Perel of Halakar Properties. The landlord, Kite West 86th Street II LLC, was represented by Blake Beaver of Kite Realty Group.

-Lawrence Arany and Darrell Dolan leased 1,232 square feet of office space at 6525 E. 82nd St. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.

-Yats Cajun Creole Restaurant leased 1,001 square feet at The Avenue, 910 W. 10th St.  The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Buckingham Cos., was represented by Natasha Evans of Buckinghan Real Estate.

Sales/acquisitions

-Kamrex Inc., aka Doom & Doom LLC, bought a 7,500-square-foot building on 0.57 acres at 7367 Business Center Drive, Avon. The buyer was represented by Alex Cantu of Summit Realty Group. The seller, TDWH Avon LLC, was represented by Stephen Daum and Jason Speckman of Summit Realty Group.

-Randy Faulkner & Associates Inc. bought the 2,900-square-foot building on 0.34 acres at 905 W. County Line Road, Greenwood. The buyer was represented by Mark Dietel and Bruce Richardson of Royal Cos. The seller, Whitelick Property Management LLC, was represented by Stephen Daum and Jeff Merritt of Summit Realty Group.

-Pro Fit Solutions LLC bought a 12,400-square-foot retail property at 1562-1580 W. Oak St., Zionsville. The seller, Kite Realty Group, was represented by Rebecca Wells and Bill French of Cassidy Turley. The buyer represented itself.

Correction

Precision Point Inc. leased 1,222 square feet of office space at 301 E. Carmel Drive, Carmel. The tenant name was incorrect in the Dec. 18 Real Estate Weekly.

Lawmakers eye workforce development in new session

Indiana's General Assembly jumped to a quick start Monday with promises from Republican leaders to focus on workforce development and a request from Democrats to place a moratorium on divisive social issues for the next two years.

Treatment center planned for Shelbyville

An Indianapolis substance-abuse hospital plans to open a drug- and alcohol-treatment center for women in Shelbyville. Fairbanks Hospital Inc. CEO Mark Monson said the center will fill a significant treatment gap for women in the region. Monson said he hopes the center can open its doors in May.

 

Four arrested at downtown mall

Four people were arrested, including one man who was subdued with a stun gun, during a disturbance Saturday night at Circle Centre mall in downtown Indianapolis. Daron Washington, 19, and three 17-year-old males were part of a group being escorted from the property when a fight with off-duty police officers took place. Washington was Tased during the incident.
 

Winter warm-up in forecast

A January thaw is under way in central Indiana. Temperatures are expected to reach the 40s Tuesday for the first time in more than two weeks. Rain is possible during the week and temperatures will continue to climb, possibly hitting 60 degrees on Saturday.
 

Spotlight falls on IU Health for flu shot firings

Indiana University Health got national attention last week for its decision to dismiss eight employees for refusing to get a flu vaccination. The Indianapolis-based hospital system fired three nurses and five other employees from its IU Health Goshen Hospital.

People

Dr. Larry Micon, a general surgeon, has joined St. Vincent Medical Center Northeast in Fishers. He holds a bachelor’s degree in biology from Indiana University in Bloomington and completed his medical degree at Indiana University School of Medicine in Indianapolis. Prior to joining St. Vincent, Micon served as director of surgical education at IU Health Methodist Hospital.

Community Physician Network has hired Dr. Josephine Bongiovanni, an internal medicine physician. She earned her medical degree at the University of Bologna Medical School in Italy. Her office is in Noblesville.

Dr. Thomas Howard, a specialist in liver, pancreas and gallbladder diseases, has joined Community Physician Network in Indianapolis. He earned his medical degree at the University of Oklahoma. He has been a professor at the Indiana University School of Medicine and a physician at the IU Melvin and Bren Simon Cancer Center.

Community Physician Network has Dr. Carl Pafford, a family medicine physician, in Fishers. He received his bachelor’s degree at Purdue University and completed his medical education at Indiana University School of Medicine. Pafford previously practiced family and emergency medicine in Tipton.

Dr. Matthew Rendel, a neurosurgeon, has joined Community Physician Network. He holds a medical degree from the Indiana University School of Medicine. Rendel provides care at Community Hospital South and Johnson Memorial Hospital in Franklin.

Community Physician Network has added Dr. Xian-Feng Zhu, an internal medicine physician, in Indianapolis. He completed his medical degree at Zhejiang Medical University in China. Before coming to Community, he practiced for seven years as a general internist in Marshalltown, Iowa.

Company news

Indianapolis-based Eli Lilly and Co. and Germany-based Boehringer Ingelheim GmbH got good news from their Phase 3 trial of a new drug for patients with Type 2 diabetes, and said they plan to file for its market approval later this year. The drug, called empagliflozin, lowered diabetics’ levels of hemoglobin—a measure of blood sugar—more than a placebo. How the new drug will compare against similar drugs, called sodium glucose co-transporter-2 inhibitors, remains unclear. Lilly competitors Johnson & Johnson, Bristol-Myers Squibb Co. and AstraZeneca plc are racing to bring the new class of drugs to market. But Lilly and Boehringer officials said they are pleased enough with the results to file for a launch this year, according to a statement released Monday by Lilly. "We are pleased with the results for these Phase III clinical trials for empagliflozin," Enrique Conterno, president of Lilly's diabetes division, said in a prepared statement. "Diabetes is growing at a tremendous rate across the world. Patients and their physicians need more treatment options in order to help improve their blood sugar levels and reach their treatment goals." Also, Lilly and Boehringer Ingelheim announced that Lilly will re-assume exclusive development rights to a once-a-day insulin it calls LY2605541. That drug, as well as empagliflozin, were part of a co-development agreement Lilly and Boehringer signed in January 2011. Lilly unveiled a better-than-expected 2013 earnings forecast Friday, which sent its stock up by nearly 4 percent that day. The drugmaker forecast 2013 adjusted earnings of between $3.75 and $3.90 per share. Wall Street analysts were expecting 2013 earnings of $3.73 per share, according to a survey by FactSet.

The physician arm of Indianapolis-based hospital system Community Health Network took over cardiovascular services at Community Westview Hospital, displacing The Care Group LLC, on Jan. 1. Community Physician Network will now provide all specialty heart care at the 67-bed hospital at West 38th Street and North Guion Road. Community Health Network absorbed Westview in June 2011, securing a presence on the west side of Indianapolis to accompany its existing hospitals on the southern, eastern and northern sides of the metro area. The Care Group, one of the city’s largest physician practices, was acquired by Indianapolis-based hospital system St. Vincent Health in 2010. Community and St. Vincent are now working together to sign contracts with employers and health insurers in what they call an affordable care consortium.

A building on the northwest side of Indianapolis is the target of a foreclosure claiming that owner Women’s Physician Group LLP has defaulted on a $9 million loan. The lawsuit, filed Dec. 13 by U.S. Bank, claims that the physicians' group received the loan in April 2007 and stopped payment in August 2012, owing $8.7 million in principal. Including penalties and fees, though, U.S. Bank is seeking nearly $10.5 million, according to the suit. The 33,617-square-foot building at 8081 Township Line Road is completely occupied, according to the website of Cornerstone Companies Inc., the building’s broker. A representative of the physician group could not be reached for comment.

Big drug deals expected to return in 2013

Pharmaceutical companies including Pfizer Inc., Bristol-Myers Squibb Co. and Eli Lilly and Co. could be ready to start making major acquisitions again.