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Pence seeks cheap energy, new nuclear reactors

Indiana Republican gubernatorial candidate Mike Pence is calling for more innovation on energy sources, improved transmission infrastructure and a renewed focus on nuclear energy.

Donor gives $20K for police dogs

A businessman has donated $20,000 to the city of Anderson to help replace two police dogs that died during violent confrontations in the past month. The contribution from David Myers of Indianapolis should cover most of the expenses for replacing the dogs, which typically cost between $10,000 and $12,000. One of the dogs was euthanized last week after being shot in the face by a suspected bank robber. The other mistook an officer as an aggressor during a late July standoff and had to be shot.
 

Crews fight fire at old lumber yard

Fire crews battled a fire Tuesday morning on the near-east side of Indianapolis. Smoke could be seen for miles. The fire began about 9:45 at the former location of Indy Lumber, 411 S. Ritter Ave. The building has been abandoned for years. One firefighter suffered a strained back. No other injuries were reported.
 

Renovated school suffers fire damage

The Mount Zion Academy, which recently completed a two-year renovation project, suffered major damage during an overnight fire in Indianapolis. Firefighters were called to the scene near Crown Hill Cemetery about midnight. The renovation, partly funded by the United Way of Central Indiana, was to be unveiled this week. The building sustained an estimated $200,000 in damage. The fire is under investigation.
 

Oil search planned at Indiana State campus

Terre Haute's public works board voted Monday to give permission for a Michigan company to begin seismic testing at several locations on university-owned property near the city's downtown.

TIF district expansion proposal gets committee OK

A proposal that would expand a downtown tax-increment financing district to the northeast and northwest was approved Monday by the City-County Council's Metropolitan and Economic Development Committee.

Illinois governor rejects plan to expand state’s gambling

Illinois Gov. Pat Quinn on Tuesday rejected a bill to expand gambling in the state, including a new land-based casino in Chicago, saying the proposal lacked sufficient regulatory oversight. The plan proposed four new riverboat casinos and allowing slot machines at racetracks.

Major Westfield development projects making progress

Several big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.

Fortune Industries founder, chairman dies

Carter M. Fortune, 70, died Saturday at his home in Destin, Fla., the company said. The Fortune Industries chairman had been in the process of selling the public company to management in a deal valued at $30.5 million.

Leasing/leasing contracts

-Roses, a discount department store, leased 64,460 square feet of retail space at River Ridge Plaza, 1804 S. Scatterfield Road, Anderson. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Pack Rat Storage leased 40,000 square feet at 6450 Gateway Drive. The tenant and landlord, S.F. Industrial Properties, were represented by Tom Cooler and Mark Writt of CBRE.

-Certifit Inc. leased 30,186 square feet at Gateway Park Building II, 851 S. Columbia Road, Plainfield. The tenant was represented by Brian Seitz of Jones Lang LaSalle. The landlord, Indy 40 Building 2 LLC, was represented by John Hanley and Terry Busch of CBRE.

-HFH Collision LLC leased 25,000 square feet at Northeast Commerce Park, 9031 Technology Lane, Fishers. The tenant was represented by Kelly Williams of Cassidy Turley. The landlord, The Ruzbasan Revocable Living Trust., was represented by Mark Writt and Tom Cooler of CBRE.

-The Dress Barn renewed its lease for 8,000 square feet of retail space at Southport Commons, 4850 E. Southport Road. The landlord, DAB Investments-Southport Commons, was represented by Larry Davis and John Baker of Sitehawk Retail Real Estate. The tenant represented itself.

-King’s Beauty renewed its lease for 6,091 square feet of retail space at Norgate Plaza, 7235 N. Keystone Ave., Unit C. The landlord was represented by Sandor Development. The tenant represented itself.

-Salon Lofts leased 4,999 square feet at Five River Crossing, 8555 N River Road. The tenant was represented by Scott Gray and Michael Cranfill of Sitehawk Retail Real Estate. The landlord, River Crossing Five LLC, was represented by Barbara Zike of PK Partners.

-Dots renewed its lease for 3,150 square feet and expanded into an additional 500 square feet of retail space at Cherry Tree Plaza, 9721 E. Washington St. The landlord was represented by Sandor Development. The tenant represented itself.

-Vera Bellezza Spa & Salon renewed its lease for 2,800 square feet of retail space at Lafayette Place, 3720 Commercial Drive. The landlord was represented by Sandor Development. The tenant represented itself.

-Yoya Frozen Yogurt leased 1,600 square feet at Pyramid Place Shops, 3520 W. 86th St.  The landlord, Pyramid Place Shops LLC, was represented by Dean Almas of Sitehawk Retail Real Estate. The tenant represented itself.

-China Happy Feet leased 1,600 square feet of retail space at North by Northeast, 7864 E. 96th St., Fishers. The landlord, NNE Associates LLC, was represented by Robyn Smart of Lee & Associates. The tenant represented itself.  

-Dr. Tavel renewed its lease for 1,580 square feet of retail space at Esquire Plaza, 8139 Pendleton Pike. The landlord was represented by Sandor Development. The tenant represented itself.

-WB Pizza leased 1,482 square feet at North Willow Mall, 2290 W. 86th St. The landlord, Township 86 Development, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-Rieth-Riley Construction renewed its lease for 1,200 square feet of retail space at Lafayette Place, 3743 Commercial Drive. The landlord was represented by Sandor Development. The tenant represented itself.

-Baobab African Market renewed its lease for 1,200 square feet and expanded into an additional 1,230 square feet of retail space at 7031 N. Michigan Road. The landlord was represented by Sandor Development. The tenant represented itself.

-Nail & Spa leased 1,010 square feet at 116th Street Centre, 890 E 116th St., Carmel. The landlord, LaSalle 115 Holdings, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

Construction

-Capitol Construction has completed a 1,200-square-foot retail build-out for Edible Arrangements at 2001 E. Greyhound Pass, Carmel.

-Capitol Construction has completed a 6,700-square-foot office build-out for Employ Indy at 115 W. Washington St.

Residential

The average rate for 30-year mortgages rose from 3.86 percent to 3.91 percent in the week ended Aug. 22, according to Bankrate.com. The rate for 15-year mortgages rose from 3.05 percent to 3.12 percent.

Sales/acquisitions

-PP Indy 5 LLC bought the 252-unit LaCasa Apartments at 1368 N. Arlington Ave.  The property was listed for $2.25 million. The purchase price was not disclosed. The buyer and seller, GRE A/B LLC, were represented by Michael Wernke of Marcus & Millichap in Indianapolis and Jake Steele and Andy Glinksi of Marcus & Millichap’s Denver office.

-The ELK Family Trust bought the 23,627-square-foot Tractor Supply Co. building on 4.88 acres at 8135 Brookville Road. The property was listed for $3.7 million. The purchase price wasn’t disclosed. The buyer was represented by Michael Wernke of Marcus & Millichap. The seller, Spencer Family Trust, was represented by Len Jarrott of Jarrott & Co.

-Clover Creek Commons LLC bought the 14,000-square-foot Clover Creek Commons retail center at 17160 Dragon Fly Drive, Noblesville. The seller, The National Bank of Indianapolis, was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar. The buyer, a development company, represented itself.

-8510 LLC bought an 18,000-square-foot building at 8510 Pendleton Pike. The buyer was represented by Matthew Broderick of Acorn Group. The seller, H&B Industries, was represented by Brian Buschuk and Jake Sturman of Jones Lang LaSalle.

Does Lilly have enough on Alzheimer’s drug?

After Eli Lilly and Co. found a “glimmer of hope” in its test of its experimental Alzheimer’s drug, doctors and stock analysts generally concluded the company needs to conduct another long clinical trial to prove the drug’s effect. But one stock analyst thinks Lilly already has what it needs to ask for approval for its drug.

Company news

Angry shareholders of WellPoint Inc. are searching out and suggesting replacements for WellPoint CEO Angela Braly, according to analysts interviewed by IBJ and Bloomberg News. Sheryl Skolnick, a health care analyst at CRT Capital Group in Connecticut, and Jason Gurda, a Leerink Swann & Co. analyst in New York, said investors have suggested James G. Carlson, the chief of Amerigroup Corp., as Braly’s replacement. Gurda also said investors have suggested David B. Snow Jr., the former chief of Medco Health Solutions Inc., as a candidate. Indianapolis-based WellPoint is buying Amerigroup, a rival insurer, for $4.9 billion. Medco was recently acquired for $29.1 billion in April by Express Scripts Holding Co., a fellow drug-benefits manager. While neither man has publicly expressed interest in the job, and WellPoint’s board has expressed confidence in Braly, that hasn’t stopped the speculation, Gurda said. Other names raised by investors include Gail Boudreaux, head of the health plan division at UnitedHealth Group Inc., the biggest U.S. medical insurer, and Kenneth Goulet, WellPoint’s executive vice president, said Thomas Carroll, a Stifel Nicolaus & Co. analyst in Baltimore.

Eli Lilly and Co. won a U.S. appeals court ruling that upholds the validity of a patent for the lung-cancer drug Alimta and blocks generic competition through 2017. The U.S. Court of Appeals for the Federal Circuit on Aug. 24 rejected arguments by Teva Pharmaceutical Industries Ltd. that the patent was invalid. It affirmed a lower court ruling. The decision was posted on the court’s website. Alimta, whose chemical name is pemetrexed, generated $2.5 billion in sales last year for Indianapolis-based Lilly, making it the company’s third-biggest-selling drug. Alimta is designed to hamper cancer cells’ ability to use folic acid to grow after an initial treatment with other drugs. Israel-based Teva had argued that Lilly had patented a compound that wasn’t much different from what was covered by two earlier patents. The three-judge panel said the lower court was correct to rule that the 2017 patent is distinct from the earlier inventions.

The U.S. Food and Drug Administration has identified a southern Indiana farm that produced cantaloupes linked to a deadly salmonella outbreak and says the operation has recalled its melons, according to the Associated Press. Chamberlain Farms of Owensville could be one source of contaminated fruit in the multistate outbreak that has infected 178 people, hospitalized 62 and killed two, the FDA said in an Aug. 22 statement. Attorney John Broadhead said Chamberlain Farms voluntarily withdrew its cantaloupes last week and that all its retail and wholesale purchasers complied with the recall. The farm about 20 miles north of Evansville sold cantaloupes to grocery stores in four southwestern Indiana counties and one in southeastern Illinois, Broadhead said in a prepared statement. The fruit was also sold to wholesale purchasers in St. Louis; Owensboro, Ky.; Peru, Ill.; and Durant, Iowa. Neither the FDA nor the farm gave any information about what might have caused the contamination.
 

People

Community Physician Network, an arm of Indianapolis-based hospital system Community Health Network, recently hired five physicians. Dr. Anna Edwards, a family practice physician, received her medical training at Indiana University School of Medicine. Dr. Melissa Holt, an obstetrician/gynecologist, received her medical training at State University of New York’s Upstate Medical University in Syracuse, N.Y. Dr. Michael Nader, a family medicine physician, received his medical degree from Kansas City University of Medicine and Biosciences. Dr. Sara Pierce, an OB/GYN physician, received her medical degree from IU medical school. Dr. Derrick Walker, a family physician, completed his medical degree at Cornell Medical College in New York.

Fairbanks, the Indianapolis-based hospital for drug and alcohol addicts, named hospital executive Mark Monson as CEO. He will replace the retiring Helene Cross on Aug. 31. Monson serves as chief operating officer of Beaver Dam Community Hospitals in Wisconsin. Before that, he served as vice president of clinical services operations for Grossmont Hospital in La Mesa, Calif. He began his career in 1980 as a substance abuse counselor. Monson earned a bachelor’s in psychology from the University of Minnesota and a master’s in addiction studies from the University of Arizona.

St. Vincent Medical Group named Dr. Bruce Bethancourt as chief medical officer for the multi-specialty physician group of primary care and specialty health providers. Bethancourt comes to St. Vincent from Arizona-based Banner Medical Group, where he served as chief medical officer of the 650-physician practice. Bethancourt received his medical degree from the University of Arizona College of Medicine.

Dr. Rodney Benner has joined the staff of The Shelbourne Knee Center. The center has two other orthopedic specialists, Dr. Donald Shelbourne and Dr. Scott Urch. Benner did his medical training at IU medical school.