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Construction

Capitol Construction has completed a 1,775-square-foot remodel for Starbucks at 430 Massachusetts Ave.

People

David Linger has been named executive vice president and regional director of RE/MAX of Indiana.

Residential

The average rate for 30-year mortgages fell from 4.05 percent to 4.02 percent in the week ended May 9, according to Bankrate.com. The rate for 15-year mortgages fell from 3.25 percent to 3.2 percent.

Leasing/leasing contracts

-Venture Warehouse and Distribution leased 140,800 square feet of industrial space at 4430-4434 Sam Jones Expressway. The tenant was represented by John Demaree of Summit Realty Group. The landlord, Long Island Industrial, was represented by Luke Wessel of Cassidy Turley.

-Indiana Juvenile Justice leased 15,000 square feet of retail space at 4901 Century Plaza Road. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Bates Art Supplies, was represented by Jacque Haynes of Cassidy Turley.

-Ruoff Mortgage Company Inc. leased 5,430 square feet at 9100 Keystone Crossing. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.

-eImagine Technology Group leased 5,000 square feet of space at Waterplace Park,  8925 N. Meridian St.  The tenant was represented by Jenna Barnett of   Newmark Knight Frank Halakar. The landlord, Equicor, was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar.  

-Broderick and Bucher leased 3,302 square feet at 8888 Keystone Crossing. The tenant was represented by Darrell Pike of Pike Real Estate Services. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.

-Aak leased 2,569 square feet of space at Circle City Industrial Complex, 1125 Brookside Ave. The landlord, The National Bank of Indianapolis, was represented by Ralph Balber, Ashley Bussell and Conrad Jacobs of Newmark Knight Frank Halakar. The tenant represented itself.  

-Keys to Work leased 2,400 square feet at Circle City Industrial Complex, 1125 Brookside Ave. The landlord, The National Bank of Indianapolis, was represented by Ralph Balber, Ashley Bussell, and Conrad Jacobs of Newmark Knight Frank Halakar. The tenant represented itself.

-T-Mobile  leased 1,960 square feet at the Keystone Shoppes, 6369 Keystone Ave. The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Pine Tree Indiana LLC, was represented by Jacque Haynes of Cassidy Turley.

-Randstad General Partner LLC leased 1,932 square feet at 8888 Keystone Crossing.  The tenant was represented by Nick Arterburn of CBRE. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
 
-Paul Gerhardt leased 1,301 square feet of office space at 3077 E. 98th St. The landlord, Brookfield Real Estate Opportunity Group, was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.  

-Inlanta Mortgage Inc. leased 1,270 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.

-Holland & Holland leased 1,255 square feet at 8888 Keystone Crossing. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.

-ServiceMASTER @ Your Service LLC renewed its lease for 699 square feet of office space at 5455 W. 86th St.  The landlord, Polaris Commercial Investments, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.

Sales/acquisitions

-MS Inspection & Logistics LLC bought 1.83 acres of land at 6610 N. Shadeland Ave. The price wasn’t disclosed. The buyer was represented by Andrew Schrage of Coldwell Banker Commercial Realty Services. The seller, SunLife Assurance Company of Canada, was represented by Hokanson Cos.
 
-OCV Real Estate Holdings LLC bought a 68,444-square-foot commercial building on 12.73 acres at 1300 Windhorst Way, Greenwood. The price wasn’t disclosed. The buyer was represented by Jeff Merritt of Summit Realty Group. The seller, BMO Harris Bank, was represented by Jeff Harris of NAI Meridian.

People

Dr. Philip Dulberger was named CEO of Indiana University Health Quality Partners, a statewide network of more than 2,000 doctors committed to providing clinically integrated care according to evidence-based standards of quality. Dulberger has been CEO of the IU Health Saxony hospital in Fishers since it opened late last year. He now will hand those duties to Jonathan Goble, CEO of the IU Health North hospital in Carmel. Dulberger holds a bachelor’s degree from Wabash College and did his medical training at the IU School of Medicine.

Hall Render Killian Heath & Lyman PC added Caryn Kaufman as an associate attorney in its Indianapolis office. Kaufman’s practice focuses on health information technology. She previously worked as an attorney for IBM. Kaufman earned a bachelor’s degree from Miami University and a law degree from The Ohio State University.

Indianapolis-based iSalus Healthcare, a maker of electronic medical record systems, named three new executives. Dr. Chuck Dietzen, founder of the not-for-profit Timmy Global Health, is now chief medical officer of the company. iSalus also hired Randy Kidd and John Brady, the co-founders of Stratice Healthcare, an Indianapolis-based company trying to develop systems to allow electronic prescribing for durable medical equipment. Kidd is now iSalus’ chief information officer; Brady is iSalus’ chief marketing officer.

Benefits firm FirstPerson has hired four new people. Tina Deitrick and Ryan Miller have joined the Indianapolis-based firm as account managers. FirstPerson also added Scott Barrett as an analyst and Mary Poole as a client relations coordinator.

Company news

Louisville-based Neace Lukens has acquired Indianapolis-based Benefit Concepts Inc. to expand its benefits-consulting business in Indiana. Benefit Concepts' six employees will move into the Neace Lukens office at 6510 N. Shadeland Ave., reporting to Eric Chelovitz, Neace Lukens managing director of Indianapolis. Even before the acquisition, Neace Lukens had about 30 employees in Indiana. The firm was acquired in September by Florida-based AssuredPartners Inc. Numerous small-benefits consultants have sold their businesses in recent years to larger companies, first as employer efforts to change workers’ health habits hiked demands on brokers and now as the 2010 health reform law significantly curtails the health insurance commission system on which many health care brokers have survived for decades.

Purdue University's trustees approved plans Friday for a new campus medical clinic that administrators expect eventually will reduce the school's $151 million in annual health care costs for employees and their families. The clinic is scheduled to open this fall on the West Lafayette campus under a three-year contract paying about $14 million to a private provider, the Journal & Courier of Lafayette reported. The center will be available to all active employees and dependents covered by a Purdue medical plan. Primary and acute care will be offered, with patients not being charged for wellness coaching, chronic condition management and lab work for blood and other tests. Purdue's contract with clinic operator CHS of Reston, Va., is valued at $13.2 million to $14.7 million. The university's contribution to health care costs increased 6 percent, to $10,580 per employee, for 2012.

Bad news from a competitor has darkened the cloud over one of Eli Lilly and Co.’s most anticipated experimental drugs, evacetrapib, which has shown promise at boosting good cholesterol in heart patients. Swiss drugmaker Roche Holding AG said May 6 it has halted testing of its dalcetrapib, which the company had hoped would become a blockbuster, according to Bloomberg News. That move comes five years after New York-based Pfizer Inc. dumped a similar drug called torcetrapib due to safety issues. Lilly and New Jersey-based Merck & Co. Inc. still are developing their drugs in a class known as CETP inhibitors. Drugmakers have hoped that such drugs could replace statins as the next big medicine for heart patients. Statins, such as Pfizer’s Lipitor, were huge blockbusters, but most of them have now seen their patents expire. A Lilly spokeswoman told Bloomberg the Indianapolis-based company is committed to evacetrapib and plans to start a late-stage study in the second half of this year. A Phase 2 trial of the drug showed that it increases good cholesterol up to 129 percent and reduces bad cholesterol as much as 36 percent.

Volunteers clean up downtown

Hundreds of local volunteers hit the streets of downtown on Monday morning in an effort to make the city more beautiful. Volunteers in the fifth annual Wholesale District Beautification Day were set to plant flowers, sweep sidewalks, remove stickers, paint over graffiti, and pick up litter. More than 20 businesses and organizations were part of the effort.
 

16 minors arrested at Carmel bar

Sixteen minors were arrested and a Carmel bar was cited on multiple charges Saturday after police raided the tavern. The Double Apple Lounge in the 4000 block of West 96th Street was preliminarily charged with 16 counts of allowing a minor to loiter, five counts of sale of alcohol to a minor, and one count each of hindering enforcement, employment of minors, and failing to maintain employee records. Excise police said three underage girls were found in the kitchen, pretending to be cooks, even though the grill was cold. Police said several of the minors, age 15 through 20, had blood alcohol levels as high as 0.15, nearly twice the legal limit for driving. The Double Apple was cited on similar charges in January.

Justices grill both sides in IU Health case

Much of the nearly 45 minutes of arguments and questioning on May 10 involved the justices and the lawyers for both parties trying unsuccessfully to apply various scenarios from the retail world of commerce to health care pricing.

Indiana slips in life sciences funding

Indiana has taken “a giant step backward” in the availability of early-stage capital for life sciences companies, according to the Indiana Health Industry Forum—which also has a few ideas on how to reverse those developments.