Indiana retailers face penalties over ‘bath salts’
State retailers could lose their business licenses for a year if they're caught selling synthetic stimulants nicknamed "bath salts" or others that mimic marijuana.
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Industrial spec development making a comeback
Speculative development is returning to the modern bulk industrial market after a four-year drought, with at least two projects preparing to break ground this spring and another in the works.
State lawmaker opposes honor for Girl Scouts
Indiana Rep. Bob Morris of Fort Wayne won't support a resolution celebrating the 100th anniversary of the Girl Scouts because he believes it is a "radicalized organization" that supports abortion and promotes homosexuality.
Martin University names new president
George E. Miller III, a former astrophysicist at the NASA Goddard Space Flight Center, is the Indianapolis school’s third president.
People
Rivienne Shedd-Steele, director of the Indiana University Melvin and Bren Simon Cancer Center’s Office of Health Disparities and Outreach, also has been named director of Cervical Cancer-Free Indiana, an advocacy organization for screenings and vaccinations to prevent humillopapillomavirus, the prime cause of cervical cancer.
Indianapolis-based Indiana Health Centers Inc. has hired Dr. Stephen Sauer, a family physician, to serve in the Community Health Center of Miami County in Peru. Sauer completed medical school at Saba University SOM in the Dutch Caribbean.
Planned Parenthood of Indiana hired Jon Mills as director of marketing and communications. Mills worked on mayoral candidate Melina Kennedy’s 2011 campaign as communications director. Early in his career, he was a legislative aide for congresswoman Julia Carson. Mills has also been director of corporate communications for WellPoint Inc. and Indiana University Health.
Company news
Eli Lilly and Co.’s osteoporosis drug Forteo was used in the first successful human trial of an implantable device that delivers injectable drugs—showing promise for eliminating the need for regular shots. Massachusetts-based MicroCHIPS Inc. implanted wirelessly controlled drug-delivery devices in women with osteoporosis. The devices delivered daily doses of Forteo into the women’s bloodstreams. The device could be helpful for Lilly and its peers, who are trying to develop more biotech drugs like Forteo. Such drugs are typically made up of large proteins, which cannot be reduced to pill form and must instead be injected. Many patients resist taking injectable drugs and many do not fully comply with their prescribed regimens.
A Cicero-based developer plans to build a $15.7 million senior health care center at 16th Street and Arlington Avenue on Indianapolis’ east side. The city’s Metropolitan Development Commission approved the project Wednesday after accepting Mainstreet Property Group LLC’s offer to purchase the property for $912,500. Mainstreet plans to begin construction in July and finish by June 2013. The facility would include 100 beds for skilled care, short-term rehabilitation and assisted-living patients. The facility is expected to create up to 150 jobs, said Zeke Turner, Mainstreet’s CEO. Overall, the company owns or co-owns 13 senior health care centers in Indiana, Illinois and Ohio, and has six more under development. It plans to break ground on as many as 12 centers by the end of the year, including a $13.3 million facility in Westfield, Turner said.
Marian University is looking to hire as many as 25 professors to help launch its College of Osteopathic Medicine, which is slated to open in August 2013. The school, which would be Indiana’s second medical school, would train 150 physicians each year. Marian, a small Catholic university in Indianapolis, wants to hire as many as three professors in each of seven disciplines: anatomy, biochemistry, microbiology, immunology, physiology, pharmacology and pathology.
Economy could lift drug, device firms
The U.S. economy is showing signs of bouncing back and, if it does, look for drugmakers and medical-device companies to benefit. But if the economy has another summer stall like last year, expect health insurers to benefit.
Leases/leasing contracts
-Ariva leased 40,192 square feet in Park Fletcher 35, 2850 S. Lynhurst Ave. The tenant was represented by Jake Sturman and Brian Seitz of Jones Lang LaSalle. The landlord, Duke Realty Corp., was represented by Duke’s Kate Willen Ems.
-COASH LLC (dba IMC Credit Services) leased 15,475 square feet of industrial space at 6911 6999 Hillsdale Court. The tenant was represented by Mike Semler of Cassidy Turley. The landlord, Duke Realty Corp., was represented by Duke’s Kate Willen Ems.
-KCI renewed its lease for 12,800 square feet in Park 100 Building 59, 8002-42 Woodland Drive. The tenant was represented by Brian Seitz of Jones Lang LaSalle. The landlord, Duke Realty Corp., was represented by Duke’s Kate Willen Ems.
-Assurant Employee Benefits renewed its lease of 11,750 square feet of office space at 8425 Woodfield Crossing Blvd. The tenant was represented by Brian Askins of UGL Equis. The landlord, Cassidy Turley, acting as court-appointed receiver, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Sherwin Williams renewed its lease of 3,508 square feet of office space at 6535 E. 82nd St. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-American Teleservices Association Inc. leased 2,930 square feet of office space at 8500 Keystone Crossing. The tenant was represented by Kevin Dick and Paul Dick of Colliers International. The landlord, PWA Keystone Crossing, LP, was represented by Andy Martin, Bennett Williams and Mike Semler of Cassidy Turley.
-DeVry University leased 2,595 square feet of office space at 9100 Keystone Crossing. The tenant was represented by Mike Semler of Cassidy Turley and Stella Fortunato of Newmark Knight Frank Halakar. The landlord, Keystone Investors LLC, was represented by John Robinson of Jones Lang LaSalle.
-Tricor Automotive leased 2,280 square feet of office space at 3003 E. 98th St. The landlord, Tom Wood Inc., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-Edible Arrangements leased 1,500 square feet of retail space at 17 N. Pennsylvania St. The tenant was represented by Allison Tiefel of Cassidy Turley. The landlord, GLJ Realty, represented itself.
-Hennessy & Roach, PC leased 1,307 square feet of office space at 9339 Priority Way W. Drive. The tenant was represented by Darrell Pike of Pike Real Estate Services LLC. The landlord, Transwestern, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.
-Lockheed Martin renewed its lease of 1,258 square feet of office space at 8021 Knue Road. The tenant was represented by Paula Thompson of Jones Lang LaSalle. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Clear Lane Freight Systems LLC leased 1,116 square feet of office space at 6100 N. Keystone Ave. The landlord, DM Property Management Inc., was represented by Bennett Williams and Andy Martin of Cassidy Turley. The tenant represented itself.
-Phone Recycling Centers of America leased 1,080 square feet at Castleton Market Place, 8413 Castleton Corner Drive. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Maquina Realty Inc., was represented by Jeff Hubley of Midland Atlantic Properties.
-Ultra Swift LLC leased 301 square feet at Chapel Hill Professional Complex, 650 N. Girls School Road. The landlord, JMMS LLC, was represented by Jeff Merritt of Summit Realty Group. The tenant represented itself.
Hospitals’ impact less than reported
After years of screaming by employers that spiraling health care spending is crimping their profits and forcing them to hold down wages, the economic impact study released last week by Indiana University Health suggests health care spending is an unmitigated blessing to the Indiana economy.
Residential
The average rate for 30-year mortgages fell from 4.14 percent to 4.10 percent for the week ended Feb. 15, according to Bankrate.com. The rate for 15-year mortgages fell from 3.36 percent to 3.35 percent.
Drivers look for gas savings
Gas prices jumped more than 30 cents per gallon over the weekend, driving more motorists to sign up for loyalty programs that offer savings. The average price of a gallon of gas in Indiana was $3.46 on Monday morning; IndyGasPrices.com said the local high was $3.69 at an east-side station and the low was $3.09 at a north-side Sam’s Club—but only for club members. Analysts said more drivers are looking for such deals as prices keep climbing.
Weekend fires displace 8 families
Children playing with lighters started two fires in two days, forcing eight Indianapolis families from their homes. On Saturday, fire crews were called to Pickwick Farms Apartments in the 9400 block of Ditch Road after a girl using a lighter to roast marshmallows ignited a paper bag. The blaze caused an estimated $300,000 in damage to seven apartments, displacing 20 residents. The next day, 10 people were chased from a home in the 8100 block of Wysong Drive after a boy spending the night found a lighter and set fire to his bed. Damages there were estimated at $50,000.
$34.5M lottery ticket sold in Shelbyville
A Hoosier Lotto ticket sold at a Shelbyville smoke shop matched all the numbers to win the third-highest jackpot in the history of the game. The Hoosier Lottery said Sunday the ticket for Saturday night’s drawing is worth $34.5 million, equaling a jackpot shared by a group of Amtrak co-workers in Beech Grove in 2010. The winning numbers were 3, 7, 18, 19, 23 and 25. The ticket was sold at the Smokers Host discount tobacco store on Harrison Street.
Sales/acquisitions
-CWS Realty Holdings LLC bought 7.56 acres in Lebanon Business Park at State Road 39 and Interstate 65. The price wasn’t disclosed. The buyer was represented by Jay Archer of Duke Realty Corp. The seller, Universal Properties LLC, was represented by Wayne Kelly of Kaiser Land.
-Record Street Warehouse bought a 110,000-square-foot industrial building at 7800 Record St. The price wasn’t disclosed. The buyer was represented by Andrew Schrage of Coldwell Banker Commercial Realty Services. The seller, LBC Corp., represented itself.
-Dairy Queen bought an 1,800-square-foot freestanding retail building at 2425 National Road. The price wasn’t disclosed. The buyer was represented by Brad Walker of Landmark Properties. The seller, Eastside Development Co. LLC, was represented by Scot Courtney of Lee & Associates.
Construction
-Kort Builders has completed a 4,985-square-foot retail space for Scrubs & Beyond at 5151 E. 82nd St., Suite 500/600.
-Kort Builders has completed a 3,250-square-foot restaurant space for Apezza Pizza at Fall Creek Harbour, 10150 Brooks School Road, Fishers.
-Kort Builders has completed a 2,300-square-foot retail space for Ossip Optometry at 54 Monument Circle.
Study: Corruption in northern Indiana not as bad as thought
A new study says northern Indiana politics may not be as corrupt as its reputation suggests.
Indianapolis Regional Airport to handle heavier ‘birds’
Airport Authority OKs runway extension at Hancock County facility, fueling competition with Hamilton County's Executive Airport.
Eiteljorg, Imax seeking approval to sell liquor
The two downtown attractions are among several entities that purchased permits in November and now are seeking approval from county officials to sell liquor.
Purdue scientists part of team challenging Moore’s Law
Moore's Law states that the number of transistors that can be placed on an integrated circuit doubles every 18 months to two years, and it's predicted to reach its limit with existing technology in 2020.