UPDATE: Chrysler may find use for vacant Tipton plant
The automaker has requested incentives to launch production in a nearly 800,000-square-foot plant that's been vacant since being built four years ago.
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Residential
The average rate for 30-year mortgages dropped from 3.52 percent to 3.50 percent in the week ended Dec. 5, according to Bankrate.com. The rate for 15-year mortgages fell from 2.86 percent to 2.85 percent.
Construction
-Capitol Construction has completed an 8,145-square-foot retail build-out on behalf of Lor Corp for Cesar’s Zumba Fitness at 9546 Allisonville Road.
-Capitol Construction Services has completed a 10,500-square-foot office remodeling at the law firm Kroger Gardis Regas LLP at 111 Monument Circle.
Sales/acquisitions
Dennis Webb bought 20.34 acres at U.S. 52 and County Road 600 West, New Palestine. The seller, BMO Harris Bank, was represented by Bill French of Cassidy Turley. The buyer represented itself.
Leases/leasing contracts
-Family Dollar leased 8,320 square feet at Lawrence Commons, 5582 N. Mitthoeffer Road. The Landlord, VIA Lawrence Commons LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-Gold Fish Swim School leased 8,286 square feet at Merchants Square, 271 Merchants Square, Carmel. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Merchants 450 LLC, was represented by Gilli Zofan of Ramco-Gershenson.
-MyComputerCareer.com leased 6,884 square feet of office space at 8909 Purdue Road. The tenant was represented by Stephen Adams of Hokanson Cos. Inc. The landlord, Wells Real Estate Funds, was represented by Mike Semler and Andy Martin of Cassidy Turley.
-Meridian Design Group leased 5,966 square feet at 116th Street Centre, 820 E 116th St., Carmel. The tenant was represented by Rich Forslund of Summit Realty Group. The landlord, TriVis Capital Partners, was represented by Keith Fried of Sitehawk Retail Real Estate.
-Wise Payment Systems Inc. leased 5,240 square feet of office space at 9865 E. 116th St., Fishers. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Herron Associates Inc. leased 5,069 square feet of office space at 135 N. Pennsylvania St.. The tenant was represented by Mary Beth Kohart of CBRE. The landlord, True North Management Group LLC, was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Axia Technology Partners LLC leased 4,946 square feet of office space at 151 N. Delaware St. The tenant was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The landlord, Hertz Indianapolis One LLC, was represented by Richard Trimpe of CBRE.
-El Cerrito Mexican Restaurant leased 3,200 square feet at Main Street Crossing, 140 N Perry Road, Plainfield. The landlord, Tabani Main Street Crossing LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-CMS Mechanical Service Co. leased 2,983 square feet of industrial space at 6911 7061 Corporate Circle. The tenant was represented by Todd Vannatta of Cassidy Turley. The landlord, CalEast, was represented by Bryan Poynter and Russ Van Til of Cassidy Turley.
-Photographic Instant Memories leased 2,700 square feet of industrial space at 5333 5367 W. 86th St. The tenant was represented by Evert Hauser of Lee & Associates. The landlord, Forester Properties Inc., was represented by Bryan Poynter of Cassidy Turley.
-Keystone Deli leased 2,700 square feet at Keystone Plaza, 2344 E. 53rd St. The landlord, Keystone Plaza, was represented Scott Gray and Larry Davis of Sitehawk Retail Real Estate. The tenant represented itself.
-Embrace Hospice LLC leased 1,907 square feet of office space at 11501 Cumberland Road, Fishers. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Hiatt Accounting Services Inc. leased 1,648 square feet of office space at 9800 9880 Westpoint Drive. The landlord, Crosspoint Partners LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-BBB Therapy LLC leased 1,547 square feet of office space at 70 E. 91st St. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Sourwine Real Estate Services, was represented by Andy Martin and Bennett Williams of Cassidy Turley.
-Cellular Spot LLC leased 1,000 square feet of office space at 1555 N. Arlington Ave. The tenant was represented by Courtney Carper of Equity Inc. The landlord, Mr. William P. Sohn, was represented by Bryan Miller of Cassidy Turley.
Pedcor to start second phase of Carmel’s City Center
The Nash, a three-story, $10 million mixed-use building, is to be built just south of City Center on the west side of Rangeline Road.
CIB votes to extend Pacers deal by one year
Pacers Sports & Entertainment will get another $10 million from the city under a one-year contract extension approved Monday afternoon by the Capital Improvement Board of Marion County.
Study calls Indiana Toll Road lease a bad deal
The Indiana Toll Road lease may have paid off in the short term, but a new study concludes it'll be a bad deal for taxpayers in the long run. Indiana officials say the report is flawed.
Indiana lawmakers urged to strengthen casino industry
A southern Indiana economic development association is urging the Legislature to strengthen the state's casino industry by revising existing gambling laws to allow it to remain competitive as casinos open in surrounding states.
Q&A
Muhammad Yasin began heading up social media marketing at Indianapolis-based HCC Medical Insurance Services LLC in early 2011. The company, which sells travel insurance and short-term medical insurance online, credits his work with tripling overall revenue in 2011 to more than $60 million and growing even more this year. Yasin, along with a steady stream of interns, manages nearly 50 social media accounts on Facebook, Twitter, Pinterest and YouTube, and has about 400,000 total followers. Collectively, HCC’s social media team produces 2,000 pieces of “content” every month—even though it operates in a highly regulated industry.
People
St. Vincent Health named Julie Carmichael as its chief strategy officer for the 22-hospital system, starting Dec. 31. Carmichael succeeds Kevin Speer, who left St. Vincent in November to become CEO of Hendricks Regional Health in Danville. Carmichael worked the past 19 years as CEO of the Suburban Health Organization, a partnership of several Indianapolis-area hospital systems, including St. Vincent Health. She holds a bachelor’s degree Stanford University and an MBA from Indiana University.
Dr. Jonathan Ting, an otolaryngologist, has joined Wishard Health Services. He received his medical degree from the University of Western Ontario.
Dr. David K. Booth, a family medicine physician, has joined Community Physicians Network, a subsidiary of Indianapolis-based Community Health Network, after practicing privately in Meadville, Pa. He earned his medical degree at Lake Erie College of Osteopathic Hospital in Harrisburg, Pa.
Dr. Michael DaRosa, a primary care sports medicine physician, has joined Community Physician Network in Greenwood. He completed his medical degree at Des Moines College of Osteopathic Medicine.
Dr. Vin Gupta, a pediatric hospitalist, has joined Community Hospital North in the Castleton neighborhood. He earned his medical degree from the Medical College of Ohio.
Dr. Syeda Naqvi, a geriatrician, has joined Community Physician Network. She completed her medical degree at Sind Medical College in Karachi, Pakistan.
Dr. Nicole Zulkowski, a physical medicine and rehabilitation physician, has joined the Community Spine Center in Greenwood. She earned her medical degree at the Indiana University School of Medicine.
Union Health System Inc. in Terre Haute named Patrick S. Board as its CEO. Board succeeds David Doerr, who announced his retirement earlier this year. Board has been CEO of Union Health’s physician group, called Union Associated Physicians Clinic LLC, in Terre Haute. Starting Jan. 1, Board will oversee both the Union physician practice and Union Hospital, which will continue to be led by Scott Teffeteller. Board received a bachelor’s degree in business from the College of St. Thomas in St. Paul, Minn., and a master’s degree in hospital and healthcare administration from the University of Minnesota.
Company news
The RND Group Inc., which makes software for medical-device and diagnostic firms, will expand its operations in Indianapolis, adding as many as 25 jobs by 2016. The company employs 27 full-time people along with the equivalent of 14 full-time contractors. The Indiana Economic Development Corp. agreed to give RND Group $700,000 in tax credits if it fulfills its job-creation commitment. The city of Indianapolis is considering additional tax incentives.
Indianapolis-based Nico Corp. has raised another $6.5 million in venture capital from its existing shareholders and board members. Nico’s Myriad line of products allow minimally invasive removal of brain tumors and tissue in adults and children. Now, Nico wants to use the new round of capital to develop technology to address diseases that were often considered inoperable, such as metastatic brain cancer, intracerebral hemorrhages and glioblastoma multiforme. Since 2008, Nico has raised $20 million, with half of that coming in 2009. Investors participating in its latest fundraising round included Rose-Hulman Institute of Technology, River Cities Capital Fund, CHV Capital, Cornelius Private Investments and Twilight Venture Partners. Nico was founded in 2007 by many of the executives and investors that created Suros Surgical Systems Inc., which was sold in 2006 to Massachusetts-based Hologic Inc. for $248 million.
West Lafayette-based Perfinity Biosciences Inc. has partnered with Japan-based Shimadzu Corp. to market and distribute its technology, which automates the preparation and analysis of protein samples in research and diagnostic labs. The Perfinity Integrated Digestion Platform cuts down sample preparation time from 18 hours to 30 minutes or less. The companies worked together to launch Perfinity’s technology in the United States earlier this year. Financial details about the agreement were not disclosed.
Micro Machine Co. LLC, an orthopedic medical-device manufacturer, will build out a new manufacturing plant in Warsaw, creating as many as 60 jobs by 2015. The company, based in Kalamazoo, Mich., will invest $2.8 million in its expansion to produce parts for Warsaw-based Zimmer Holdings Inc. and Warsaw-based DePuy Orthopaedics Inc., and perhaps other companies. Micro Machine already employs eight in Warsaw in addition to 72 in Kalamazoo. The Indiana Economic Development Corp. offered Micro Machine up to $585,000 in tax incentives and training grants if it fulfills its job-creation plans. Kosciusko County approved additional property tax abatement for Micro Machine.
Police: Drunk man hit stadium
A man was arrested Sunday on suspicion of drunk driving after plowing his car into Kuntz Memorial Soccer Stadium. A witness said he saw a green Cadillac driving eastbound on West 16th Street about 3:15 a.m. directly into oncoming traffic before crashing. The driver, Santonio Rivers of Indianapolis, was uncooperative, had bloodshot eyes and disheveled clothing, and smelled of alcohol, police said. The stadium, home to IUPUI’s soccer team and the annual high school soccer championships, sustained $50,000 in damage.
Crash kills one, closes I-65
Authorities say a fatal crash involving a tractor-trailer and several other vehicles Monday morning killed one person and closed northbound lanes of Interstate 65 northwest of Indianapolis. The accident happened about 7:40 a.m. near the Brownsburg and Whitestown exit. All three lanes were reopened by late morning.
Potential of higher car rental taxes drawing fire
People who come to Indianapolis for business, ball games or other reasons could pay more for their visits if local officials decide to raise taxes on car rentals and professional sports tickets early next year.
Report: WellPoint dominates Indiana markets
WellPoint Inc. holds an overwhelming share of the commercial health insurance market in 13 of Indiana’s 14 largest metros, according to a controversial new study by the American Medical Association.
Medical software firm plans to expand, add 25 jobs
Indianapolis-based RND Group Inc. said it plans to spend $1.3 million to update and equip its 13,510-square-foot headquarters. The company has 27 employees.
CIB to consider 1-year extension with Pacers, source says
The Capital Improvement Board of Marion County is expected to seek a one-year extension of its current lease deal with Pacers Sports & Entertainment, according to a former board member and current Indianapolis city-county councilor.
Analyst: Lilly solid even without pipeline
While Eli Lilly and Co.’s stock price is up 16 percent in the past four months, a new analyst covering the company thinks it has more room to grow. And that’s even without launching a new Alzheimer’s drug anytime soon.
Court dismisses paper’s appeal over online comments
The state Court of Appeals has dismissed The Indianapolis Star's appeal of a local judge's order requiring it to identify a person who made anonymous comments on its website that a former chief executive of Junior Achievement of Central Indiana contends were defamatory.