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USA Track & Field repeals controversial rules

USA Track & Field has repealed restrictions on uniform advertising that angered athletes across the country, but it remains to be seen whether athletes will take advantage of their renewed freedom.

Local mortgage firm lands $25M in private equity

Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.

Construction

-S&B Construction Group has started a 2,684-square-foot restaurant build-out for Noodles & Company at 8634 E. 96th St., Fishers.

-Capitol Construction has completed a 40,000-square-foot office build-out for Vision Solutions at 8470 Allison Pointe Blvd.

-Capitol Construction has completed a 22,000-square-foot office build-out for Liberty Mutual at 11611 N. Meridian St., Carmel.

Residential

The average rate for 30-year mortgages rose from 4.10 percent to 4.14 percent for the week ended March 7, according to Bankrate.com. The rate for 15-year mortgages fell from 3.35 percent to 3.34 percent.

Leases/leasing contracts

-Ogletree Deakins Nash Smoak & Stewart PC renewed and expanded its lease to 36,113 square feet at 111 Monument Circle. The tenant was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group. The landlord, Beacon, was represented by John Robinson and Adam Broderick of Jones Lang LaSalle.

-The state of Indiana leased 15,315 square feet at 2620 Kessler Blvd.  The tenant was represented by Kara Riggle of Colliers International.  The landlord, Healthcare Trust of America Inc., was represented by James Mount of Hokanson Cos. Inc.

-Wells Fargo Insurance Services USA Inc. leased 11,297 square feet at 300 N. Meridian St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, University Park Associates LLC, was represented by Mike Napariu of REI Real Estate Services LLC.  
 
-Family Dollar leased 9,600 square feet at Windsor Village, 6030 E 21st St.  The landlord, Windsor Village, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-Community Hospitals of Indiana Inc. leased 6,159 square feet at 8921 Southpointe Drive. The tenant was represented by Rob Lukemeyer of Baseline Inc. The landlord, Healthcare Trust of America Inc., represented itself.

-ThoughtBurst Inc. leased 3,263 square feet of office space at 111 Congressional Blvd., Carmel. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Lauth Property Group, was represented by Darrin Boyd and David Moore of Cassidy Turley.

-First Call Temporary Services Inc. extended its lease of 2,962 square feet of office space at 7202 E. 87th St. The tenant was represented by Catherine Esselman of Penn Real Estate Inc. The landlord, Westminster Funds, was represented by Bryan Miller and Todd Vannatta of Cassidy Turley.

-Radio Shack renewed its lease of 2,244 square feet at Keystone Plaza, 2315 E 53rd St.   The landlord, Keystone Plaza Associates, was represented by Larry Davis and Scott Gray of Sitehawk Retail Real Estate. The tenant represented itself.

-Cain Brothers & Co. LLC renewed its lease of 2,106 square feet of office space at 3500 Depauw Blvd. The landlord, Sterling American Property Inc, was represented by David Moore, Darrin Boyd and Bennett Williams of Cassidy Turley. The tenant represented itself.  

-Jolly Rancher LLC leased 1,733 square feet of office space at 47 S. Meridian St. The tenant was represented by Jon Owens and Russell Van Til of Cassidy Turley. The landlord, Bruce A. Bodner Co. Inc., was represented by Alex Cantu of Summit Realty Group.

-United Way of Central Indiana leased 1,486 square feet of office space at 650 E. Carmel Drive, Carmel. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, GS Properties Inc., was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar.

-Grant Communication dba Sprint leased 1,200 square feet at Green Street Square, 1521 N Green St., Brownsburg.  The landlord, Cranfill Enterprises LLC, was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.

-All Walks of Life Barber & Beauty Shop leased 840 square feet of retail space in Esquire Plaza, 8211 Pendleton Pike. The landlord, Sandor Development,  was represented Sandor’s Jeff Roberts. The tenant represented itself.

Sales/acquisitions

-Drilling World bought a 59,423-square-foot industrial building at 860 Elston Drive, Shelbyville. The price wasn’t disclosed. The buyer was represented by Dustin Looper of Colliers International.  The seller, Stanley-Bostitch Inc., was represented by Tom Cooler of CB Richard Ellis.

-Jack in the Box bought a 0.84-acre parcel of retail land at 8456 N. Michigan Road. The price wasn’t disclosed. The buyer and seller, GDI Holdings LLC, were represented by Bart Jackson and Scot Courtney of Lee & Associates.

Daniels: Indiana added more jobs than thought in 2011

Daniels said Monday that the state is set to release new data showing that 43,000 jobs were added in the private sector last year. The Bureau of Labor Statistics originally stated Indiana added 27,000 jobs.

Butler eyes move to Atlantic 10, ESPN says

A spokesman for the university said it has not entered into “formal talks” with anyone about switching conferences. Butler has been an inaugural member of the Horizon League since its founding as the Midwestern City Conference in 1979.

People

Riley Hospital for Children at Indiana University Health named Alicia Schulhof its new chief operating officer. Schulhof will join Riley on April 16 after working the past five years as chief operating office of Brandon Regional Hospital in Brandon, Fla. Schulhof, 32, grew up in Indianapolis and began volunteering at Riley while she was attending Lawrence North High School. She has a bachelor’s degree from Purdue University and a master’s in healthcare administration from Indiana University. She is married and has three sons.

Company news

Zimmer Holdings Inc. plans to outsource its 120-person transportation management team to Memphis, Tenn., and also will cut another 50 positions by year’s end in an effort to offset an anticipated $60 million hit from the medical device tax enacted by the 2010 health reform law. The Warsaw-based maker of orthopedic implants informed its employees of the impending job changes on Feb. 29, even though they won’t take effect for another six months, according to spokesman Garry Clark. He said Zimmer hopes its affected employees can transfer to other roles inside the company. The medical device tax, which will take effect next year, will assess a 2.3-percent fee on all U.S. sales of medical devices. It is expected to generate $2 billion per year to help fund an expansion of health insurance under the Patient Protection and Affordable Care Act. Medical device companies, including Zimmer and Bloomington-based Cook Group, have consistently opposed the tax, saying it would inevitably force them to cut jobs in the United States.

Indianapolis-based Lilly Endowment Inc. awarded $2.5 million to the Indiana University School of Medicine in part to establish an endowed chair for the medical school’s initiative in Eldoret, Kenya. Matching funds from IUPUI will bring the total grant to $4 million. IU’s program in Kenya is called AMPATH, which stands for the Academic Model Providing Access to Healthcare. It is a collaboration of numerous universities, all working to provide basic needs and health care to patients in Kenya, particularly those suffering from HIV and AIDS. The endowed chair established through the grant will fund the work of the program’s field director in Kenya—which is now Dr. Joe Mamlin—so the work there can continue for years to come. The chair will be named the Stephanie and Craig Brater Chair in Global Health in honor of IU medical school dean Dr. Craig Brater, and his wife.

After losing $1.5 million in its most recent fiscal quarter, West Lafayette-based Bioanalytical Systems Inc., decided to close its laboratory in McMinnville, Ore., and instead consolidate that work in at its headquarters in West Lafayette. The move will bring as many as 20 new positions to West Lafayette and save the company more than $2 million per year, the company estimated. The leader of the Oregon lab, Lori Payne, will move to Indiana to become vice president of bioanalytical operations. Bioanalytical performs analysis for drug companies before they submit drugs for human trials. Bioanalytical CEO Anthony Chilton said the move would save money “by eliminating redundancies in expensive laboratory equipment and improving laboratory utilization.”

Do electronic records really save money?

Even though researchers at the Indianapolis-based Regenstrief Institute Inc. demonstrated more than 20 years ago that electronic health records and test ordering systems significantly reduced costs in Indianapolis’ Wishard Health Services’ system, a recent study of electronic health records among office-based physicians came to the opposite conclusion.

Bus driver faces molesting charges

A Noblesville Schools employee remained in jail Monday morning after being accused of several counts of child molestation. Police arrested bus driver Garrett Cornell, 42, Saturday afternoon at his home in the 1500 block of Hannibal Street. He was charged with four Class A felony counts of child molesting, three Class C felony counts of child molesting and one count of child exploitation. The school district said Cornell has been suspended. It also said the incidents being investigated did not take place on school property. Cornell is being held at the Hamilton County Jail on $180,000 bond.

 

Two die in school bus crash

A school bus struck a bridge in Indianapolis Monday morning, killing the driver and one child, and critically injuring two other students. Police said the bus carrying Lighthouse Charter School students struck a bridge abutment in the 900 block of South Emerson Avenue about 7:45 a.m. One side of the bus was peeled back in the accident. Eight other students were taken to hospitals. About 50 children ages 5-16 were on the bus at the time of the crash.
 

Q&A

Jan Lundberg, Eli Lilly and Co.’s executive vice president of science and technology, discussed the Indianapolis-based drugmaker’s latest efforts to improve its research and development efforts.

Area home sales stay on upward path in February

Purchase agreements in the nine-county area tracked by F.C. Tucker hit 1,728, a 14.7-percent increase over February 2011. The increase marked the 10th straight month of year-over-year improvement.

Angel investors love health care deals

Health care venture capital has become scarcer in Indiana the past two years, but there are indications that angel investors are picking up some of the slack.