High-deductible premiums rising, too
Since 2007, premiums for high-deductible health plans’ family coverage have grown 32 percent—compared with 30 percent among all health plans, according to survey data from the Kaiser Family Foundation.
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WellPoint spends $50M to burnish brand
The Indianapolis-based health insurer expects the purchase of health insurance to look and feel much more like online retailing than ever before, where brand name, along with price and convenience, win the day.
Construction
-JBM Contractors Corp. has started façade renovations for Schmoll Development Co. at 5117, 5127 and 5143 E. 65th St. The three consecutive buildings contain a total of about 22,500 square feet.
-Gene B. Glick Co. has started construction of the 50-unit Arden Woods Apartments, 2444 E. 64th St. The project is to be completed in March 2013.
Residential
The average rate for 30-year mortgages rose from 3.79 percent to 3.81 percent in the week ended Sept. 12, according to Bankrate.com. The rate for 15-year mortgages was unchanged at 3.04 percent.
Leases/leasing contracts
-Phoenix Material Management Inc. leased a 234,000-square-foot industrial building at 800 Commerce Parkway, Greenwood. The tenant was represented by Rick Suja of Colliers International. The landlord, Greenwood Industrial LLC, was represented by Hobey Stuart of Cabot Properties.
-Appirio Inc. leased 12,517 square feet of office space at Pan Am Plaza, 201 S Capitol Ave The tenant was represented by Alex Cantu of Summit Realty Group. The landlord, Coastal Partners LLC, was represented by Bennett Williams of Cassidy Turley.
-Robert Half Inc. leased 7,377 square feet of office space at 135 N. Pennsylvania St. The tenant was represented by Chet Rao and Eric Steiner of UGL Equis. The landlord, True North Management Group LLC, was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Royal United Financial Services LLC leased 7,282 square feet of office space at 7999 Knue Road. The tenant was represented by Ron Foster of Echelon Realty Advisors. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Celebrate Life Inc. leased 5,400 square feet of retail space at 730 Fry Road, Greenwood. The tenant and landlord, Fayman Trust, were represented by Mike Kensill of Lee & Associates.
-Bagger Dave’s Legendary Burger Tavern leased 4,875 square feet for a restaurant at Fortune Park Shoppes, 8840 N. Michigan Road. The tenant represented by Robyn Smart of Lee & Associates. The landlord, Urbahns Property Group, was represented by Scott Levinson of Urbahns.
-Altered Physique Fitness leased 3,168 square feet for a personal training fitness center at Fortune Park Shoppes, 8840 N. Michigan Road. The tenant was represented by Dan Baldini of Polaris Real Estate. The landlord, Urbahns Property Group, was represented by Scott Levinson of Urbahns.
-American Bank leased 2,944 square feet of office space at 8335 Allison Pointe Trail. The landlord, TIC Properties Management LLC, AMO, was represented by Bryan Miller of Cassidy Turley. The tenant represented itself.
-Timothy A. Goedde MD PC leased 2,390 square feet of office space at 7430 Shadeland Ave. The landlord, SNAG LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
-iSVR Associates leased 2,047 square feet for an Indian restaurant and catering operation at Fortune Park Shoppes, 8840 N. Michigan Road. The tenant was represented by Sathya Kattragadda of Century 21 Scheetz. The landlord, Urbahns Property Group, was represented by Scott Levinson of Urbahns.
-eLove Matchmaking leased 1,903 square feet of office space at 1980 E. 116th St., Carmel. The landlord, Clarkland Properties, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Magic Nails renewed its lease for 1,900 square feet of retail space in George Thomas Plaza, 1004 N. Shadeland Ave. The tenant and landlord, Ladywood Apartments LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
-Scott Spine Therapy leased 1,299 square feet of office space at 5750 E. 91st St. The tenant was represented by Andrew Martin of Cassidy Turley. The landlord, J.C. Partners LLC, was represented by Jack Clark of J.C. Partners LLC.
-Buckley & Associates LLC leased 1,214 square feet of office space in Brown Office Park, 9003 E. 17th St. The tenant and landlord, Arnold Brown MD PC, were represented by Cathy Richards and Mike Kensill of Lee & Associates.
-Fantastic Sams renewed its lease for 1,200 square feet of retail space in George Thomas Plaza, 1004 N. Shadeland Ave. The tenant and landlord, Ladywood Apartments LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
-Cournoyer Counseling leased 1,099 square feet of office space at 70 E. 91st St. The tenant was represented by James Clark of Jones Lang LaSalle. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin and Bennett Williams of Cassidy Turley.
-Loving & Caring Home Inc. leased 780 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.
Sales/acquisitions
-Monsey, N.Y.-based White Eagle Property Group bought the 348-unit Northlake Village apartments at 1100 Northlake Drive, Noblesville. The seller, McCann Realty Partners LLC of Richmond, Va., was represented by Steve LaMotte, Dane Wilson and Dave Lockard of CBRE’s Indianapolis-Cincinnati Multi-Housing Group. The buyer represented itself.
-Fred Lawson of LY Indy Investment Group bought the 57-unit Woodview Terrace apartments at 9122 E. 10th St. The property was listed for $1.15 million. The sale price wasn’t disclosed. The buyer was represented by Leona Murphy of Murphy & Associates. The seller, Richard Noel, was represented by Tikijian Associates.
-Georgetown Road Center LLC bought 2.2 acres at 6200 Coffman Road. The seller, Dearborn Street Holdings LLC, was represented by Bo Leffel of Cassidy Turley. The buyer represented itself.
Correction
Recycle Force leased 81,000 square feet at Circle City Industrial Complex, 1125 Brookside Ave. The square footage was incorrect in last week’s Real Estate Weekly.
Students OK after Carmel bus crash
A Carmel Clay Schools bus was rear-ended by a sport-utility vehicle Monday morning near 141st Street and Shelbourne Road. The bus continued to Creekside Middle School after students onboard were evaluated for injuries. The driver of the SUV blamed fogged-up windows for the accident. The bus arrived about 20 minutes late.
One injured in east-side house fire
One person was injured trying to escape an early-morning house fire Monday near East 10th and Rural streets. Indianapolis firefighters were called to the 2200 block of Brookside Parkway South Drive at 12:45 a.m. Resident Catherine Royalty, 61, suffered second-degree burns to her feet and was taken to Wishard Hospital. Her husband Elvin, 63, and their dog escaped without injury. Damage to the home was estimated at $75,000. The cause of the fire is under investigation.
School locked down after stabbing report
Brownsburg High School was put on lockdown Monday morning after a male student said he was attacked in a rest room. Police surrounded the building and blocked exits for about 90 minutes after answering a call about a stabbing. After an investigation, the school called the event a “single-student incident” in which the student suffered “minor injuries,” including minor cuts to the face and back. Students were “never in any danger,” the school said.
Indiana’s wind power industry faces unclear future
Indiana's once-promising wind-power industry is facing an uncertain future as Congress debates whether to renew a tax credit that's set to expire by the end of the year.
Company news
The Indiana Heart Hospital will change its name to Community Heart and Vascular Hospital on Oct. 1 to make sure patients know the hospital is part of the Community Health Network hospital system. “Patients no longer will have the potential to confuse our heart and vascular hospital with our competitors’ facilities, some of which have ‘Indiana’ in their names,” wrote Tom Malasto, president of the heart hospital, in a memo to employees. The St. Vincent Heart Center of Indiana is the other heart hospital in the Indianapolis area. Also, the 2011 name change by Clarian Health to Indiana University Health may have proved confusing to patients. The Indiana Heart Hospital, in Castleton, opened in 2003 with 56 beds. It had net patient revenue last year of $130.2 million, producing net income of $36.6 million.
Bloomington-based PartTec Ltd. has signed an agreement to manufacture and market a neutron detector system that may help researchers identify the underlying causes of human diseases. The Neutron-Sensitive Anger Camera (named for inventor Hal Oscar Anger) was developed by the Department of Energy's Oak Ridge National Laboratory. Biologists can use the neutron detector to discover a wider variety of proteins, some of which may be useful in battling such diseases as AIDS or cancer. Previous neutron detectors struggled to identify protein crystals smaller than 2 millimeters, but new cameras made by PartTec can clearly detect 1-millimeter and smaller crystals.
The St. Vincent Health hospital system has negotiated a discounted rate with iSalus Healthcare to help independent physicians around Indiana adopt electronic medical record systems. Indianapolis-based iSalus will make its Web-based OfficeEMR service available, as well as its staff’s support to get a physician practice transitioned to the system within 60 days. iSalus has had a similar discounted agreement with the Indianapolis Medical Society since 2010. Using electronic medical records for e-prescribing and electronic swapping of patient information can earn doctors bonus payments from the federal Medicare program through 2016. Failing to use such records will lead to cuts in Medicare payments, beginning in 2015.
Purdue University and Indiana University Health Arnett in Lafayette announced a new research study on colorectal cancer, focused on broadening participation from patients in more rural parts of the state. Research teams from Purdue and IU Health will use colorectal cancer data to improve statistical and engineering simulation models that predict how to treat and possibly prevent cancer. This research partnership, with a goal to include 100 cancer patients, expands Cancer Care Engineering project, which was launched by Purdue in partnership with the Indiana University Health Simon Cancer Center in 2006 through $5 million in funding from the U.S. Department of Defense, the Walther Cancer Foundation and the Regenstrief Foundation.
Neighborhoods back new ‘north-midtown’ TIF area
The Indianapolis City-County Council will have more than one big tax-increment finance issue to consider at a meeting Monday night. A new TIF district stretching from Fall Creek to White River along College Avenue will be introduced.
People
Dr. Wafic ElMasri, a gynecologic oncologist, has been hired by Community Physician Network, a division of Indianapolis-based hospital system Community Health Network. ElMasri, a native of Beirut, Lebanon, did his medical training at the American University of the Caribbean School of Medicine. He previously held jobs as a professor in the OB/GYN department at Texas Tech University and as a research fellow at the National Cancer Institute. His office is in Castleton.
Dr. Peter Schilt, an ear, nose and throat specialist, also was hired by Community Physician Network. Schilt, a native of Carmel, did his medical training at the Indiana University School of Medicine. His office is in Noblesville.
Fort Wayne-based NoMoreClipboard hired Tom Penno as vice president of channel management, overseeing relationships with the company’s sales and distribution partners. NoMoreClipboard offers Web-based personal health record systems to patients and employers. Penno was most recently chief operating officer at the Indianapolis-based Indiana Health Information Exchange.
Dr. Timothy Shoemaker, an endocrinologist, has established a practice with Franciscan Physician Network Diabetes & Endocrinology Specialists in Indianapolis, which is part of the Franciscan St. Francis Health hospital system. Shoemaker earned his medical degree at the Indiana University School of Medicine.
Christine Liedtke, a psychologist, has joined the Carmel office of Aspire Indiana, which provides therapy, recovery and employment services to people with mental health disorders or addictions. She specializes in treating children and families. Liedtke graduated in 2009 from the American School of Professional Psychology at Argosy University in Washington, D.C.
Bernanke’s speech at Economic Club a coup for city
The chairman of the Federal Reserve is scheduled to speak at the Economic Club of Indiana’s Oct. 1 meeting, an event that should put Indianapolis in the national spotlight given the Fed’s recent and controversial decision to try to stimulate the economy.
Study: Indiana tax code discourages small businesses
A new study of Indiana's business tax structure suggests the state's tax code discourages the small, home-grown businesses often considered the engines of job creation.
GOP spending $650K in tight Indiana Senate race
Senate Republicans will jump into Indiana's pitched Senate battle this week, responding to a Democratic ad-buy with one of their own as they seek control of the Senate in November.
Indianapolis jeweler shot during home break-in
Indianapolis police say jeweler Gary Thrapp of G. Thrapp Jewelers was in stable but serious condition Sunday after being shot when two people broke into his home.
Lawmaker wants review of specialty plate proceeds
More oversight of Indiana’s specialty license plates is needed to ensure that the groups who benefit spend the money appropriately, according to the chairman of a legislative panel reviewing the plates.