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U.S. farm income could drop 6.5 percent in 2012

The biggest crop acreage in a generation and increasing costs for fuel, pesticides and feed will trim the record profits seen in 2011 to $91.7 billion, according to the USDA.

Romney’s state co-chair could decide Santorum’s fate

Dan Dumezich is guiding Mitt Romney’s effort to win the Indiana GOP primary and also runs the state elections panel that weighs challenges to candidates’ ballot access. Opponent Rick Santorum is eight signatures shy of the 500 needed from Indiana’s 7th District.

Ex-workers balk at SynCare bankruptcy

Disease management company’s demise in August pushed its CEO Stephanie DeKemper into personal bankruptcy in late December and the company itself will file its own bankruptcy case as early as this week.

People

Dr. Paul Haut has been appointed chief medical officer of Riley Hospital for Children at Indiana University Health. Haut previously served as director of the Riley stem cell transplant program at IU Health. Haut is also a professor of pediatrics at the IU School of Medicine. Haut replaces Dr. Jeff Sperring, who was promoted by Riley Hospital’s CEO in November. Haut holds a bachelor’s degree from Brown University and did his medical training at the University of Arkansas for Medical Sciences.

Meghan Linvill McNab has joined the health care practice of Krieg DeVault LLP.  She will practice in the area of Medicare and Medicaid program reimbursement.

Sarah Jenkins has joined St. Vincent Neuroscience Institute as a health psychologist for adult patients. She received her bachelor’s and master’s degrees from the University of Arkansas at Little Rock, and her doctorate from Ball State University in Muncie.
 

Company news

The Indiana Health Information Exchange Inc., or IHIE, signed a collaboration agreement with Texas-based AT&T to use AT&T’s clinical message exchange system to help integrate new health care providers into IHIE’s database. The organizations think their collaboration could be used around the country. “Our vision is to establish a model of health information exchange for the nation,” said Harold J. Apple, CEO of IHIE, an Indianapolis-based not-for-profit . “We operate the most advanced system for connecting disparate health care IT systems in the nation, and AT&T is helping us take our efforts to the next level.” In fact, IHIE is launching a services organization to help other health information exchanges and large health care systems establish their own systems around the country. AT&T will also work with IHIE on that consulting effort. IHIE is the nation’s largest health information exchange. It has more than 80 hospital and long-term-care systems, more than 19,000 physicians and 10 million patients. IHIE’s services allow hospitals and doctors to exchange patient records electronically, as needed.

CHV Capital Inc., the venture capital arm of Indiana University Health, and Indianapolis-based Spring Mill Venture Partners participated in a $10.9 million investment in PerfectServe Inc. The Tennessee-based company provides communication software systems that route calls and messages to the right doctor on whatever platform they choose at a given moment: office phone, cell phone, text messaging, pager or e-mail. The “series C” funding round was led by PJC Capital LLC, the private equity arm of Minneapolis-based investment banking firm Piper Jaffray. PerfectServe already serves more than 17,500 physicians around the country, processing 30 million transactions each year.

A lawsuit contends that a Carmel-based health insurer ran a scheme to avoid paying in-home-care claims for potentially thousands of California's elderly, according to the Associated Press. Senior Health Insurance Company of Pennsylvania, or SHIP, had a claims process "designed to frustrate and confuse policyholders with needless demands for irrelevant information" in violation of its own policies and California law, according to the suit filed Feb. 4 in San Bernardino County Superior Court by the group Consumer Watchdog. The not-for-profit insurer is run by a trust created by the Pennsylvania Insurance Department. Senior Health Insurance operated as Conseco Senior Health Insurance until late 2008, but Carmel-based Conseco Inc. (now CNO Financial Group Inc.) transferred the unit to an independent trust based in Pennsylvania due to heavy losses. Conseco took a $1.2 billion charge to unload the unit. The new lawsuit claims that SHIP tried to avoid reimbursing policyholders for long-term care by ignoring or taking an unreasonably long time to respond to claims; requiring unnecessary paperwork and medical examinations, and requiring that the care givers have licenses in violation of company policy and California law. The suit, which seeks class-action status, was filed on behalf of Dr. William Hall, 78, of Upland. Hall, a retired chief of medicine at a California hospital, bought a long-term-care policy in 1994 and submitted claims in 2010. SHIP refused to reimburse all but 20 percent of his expenses, the lawsuit claims.
 

State Supreme Court weighing law on governor’s testimony

At issue is whether a state law prohibiting governors from facing a court subpoena applies in lawsuits over Gov. Mitch Daniels’ decision to cancel a nearly $1.4 billion contract with IBM to process welfare applications.

WellPoint fires exec after Medicare woes

WellPoint Inc. finally canned the head of its consumer business after a string of disappointing results, and the move hasn’t further spooked the company’s jittery investors. Although that’s not saying much.

Construction

Brasfield & Gorrie LLC has been hired as construction manager for a three-story, 126,870-square-foot expansion of St. Vincent Medical Center Northeast. The job also includes renovation of 6,000 square feet in an existing medical office building. The project is expected to be completed in March 2013.

People

Beth Patterson has been promoted to director of retail services for Colliers International, Indiana Region.

Residential

The average rate for 30-year mortgages increased from 4.12 percent to 4.14 percent for the week ended Feb. 8, according to Bankrate.com. The rate for 15-year mortgages rose from 3.34 percent to 3.36 percent.

Leasing/leasing contracts

-Phoenix of Texas LLC leased 66,000 square feet of industrial space at Sugarland Business Park, 12630 West Airport Blvd. The tenant was represented by Rick Suja of Colliers International.  The landlord, Cobalt Industrial REIT, was represented by Cobalt’s Gray Bouchillon.

-Respiratory Partners Inc. renewed its lease and expanded to 7,200 square feet at 2461 Directors Row in Park Fletcher Business Center. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services. The tenant represented itself.

-Language Training Center renewed its lease for 5,932 square feet at 5750 Castle Creek Parkway. The tenant was represented by Graham Summers of Jones Lang LaSalle. The landlord, Friedman Real Estate Group Inc., was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.

-McAlister’s Deli leased 5,454 square feet at Cool Creek Commons, 2550 E. 146th St., Carmel.  The tenant was represented by Bill Talbott of The Talbott Group. The landlord, Westfield One LLC, was represented by Andrew Hasbrook of Kite Realty Group.
 
-Best Buy Co. Inc. renewed its lease for 4,700 square feet of office space at Intech 11,  6625 Network Way. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Network Way Properties LLC, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.

-Watermark leased 4,410 square feet at 5875 Castle Creek Parkway. The tenant was represented by Chris Carmen of Carmen Commercial Real Estate. The landlord, Friedman Real Estate Group Inc., was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.

-Radiology Associates of Indianapolis leased 3,402 square feet at Indiana American 2, 533 E. County Line Road. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, Legan Property Management Inc., was represented by Tim Norton and Jeff Merritt of Summit Realty Group.

-Designer Floors of Indiana leased 3,200 square feet at Avon Station, 8100 E. US 36, Avon. The landlord, Cranfill Development, was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.

-Physiotherapy Associates Inc. renewed its lease for 3,054 square feet at Indiana American 4, 549 E. County Line Road. The landlord, Legan Property Management Inc. was represented by Tim Norton and Jeff Merritt of Summit Realty Group. The tenant represented itself.

-Starmaker Studio for Performing Arts leased 2,100 square feet of retail space at Decatur Depot, 5021 S. Kentucky Ave.  The landlord, KLC Realty LLC, was represented by Greg Smith and Joe Tarpey of Colliers International. The tenant represented itself.

-American General leased 2,081 square feet of office space at 8604 Allisonville Road.  The tenant was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group. The landlord, Citimark Management Co. Inc. was represented by Citimark’s Brian Fitzgerald.

-Evita Salon & Spa leased 1,956 square feet at Hamilton Crossing Centre, 12201 N. Meridian St. The landlord, KRG Hamilton Crossing LLC, was represented by Andrew Hasbrook of Kite Realty Group. The tenant represented itself.

-Phoenix Personnel leased 1,600 square feet of retail space at Eagle Creek Shoppes, 4930 Lafayette Road. The tenant was represented by Joe Tarpey of Colliers International.  The landlord, Eagle Creek Shoppes Property Trust, was represented by Greg Smith of Colliers International.

-Marco’s Pizza leased 1,400 square feet at Green Street Square, 1521 N Green St., Brownsburg. The tenant was represented by Andrew Clifford of Clifford Realty. The landlord, Cranfill Development, was represented by Michael Cranfill of Sitehawk Retail Real Estate.

-Sports Clips leased 1,293 square feet at Hamilton Crossing Centre, 12201 N. Meridian St. The tenant was represented by Jeff Hubley of Midland Atlantic Properties. The landlord, KRG Hamilton Crossing LLC, was represented by Andrew Hasbrook of Kite Realty Group.

-Shani’s Beauty & Eyebrow Arch leased 1,200 square feet of retail space at Eagle Creek Shoppes, 4930 Lafayette Road. The landlord, Eagle Creek Shoppes Property Trust, was represented by Greg Smith and Joe Tarpey of Colliers International. The tenant represented itself.

Correction

Jeff Hubley of MidAmerica Real Estate Group represented landlord Maquina Realty Inc. in leasing 1,080 square feet at Castleton Market Place to Phone Recycling Centers of America. The landlord’s broker was incorrect in last week’s Real Estate Weekly.

Home-sale agreements for Indy area jump in January

Sales of existing homes in the Indianapolis area are off to a strong start in 2012, with the number of sales agreements increasing 13.4 percent in January compared with the same month a year earlier.

Police investigate possible shooting death

Indianapolis police are investigating the apparent shooting death of a man found Sunday night in the 2300 block of North Kenwood Avenue. Police responded to a report of a person shot and discovered the yet-to-be-identified man with a gunshot wound lying inside a vehicle with its driver’s side door partially opened. Emergency crews arrived a short time later and pronounced the victim dead. An autopsy will be performed Monday to determine the exact cause of death.

Sales/acquisitions

-Wood Porsche RE LLC bought a 10,350-square-foot retail building at 3400 E. 96th St. The price wasn’t disclosed. The buyer was represented by Ross Reller of Colliers International. The seller, R. Scott Jeffares, represented himself.

-Team 100 LLC bought 10,800 square feet of retail space in a building at 7965 E. Pendleton Pike. The price wasn’t disclosed. The buyer was represented by Rob Christman and Greg Smith of Colliers International.  The seller, Fifth Third Bank, represented itself.   

-Victory 4 LLC bought 300,000-square-foot Building 56 in Park 100 at 5401-5499 Lakeview Parkway South. The price wasn’t disclosed. The buyer was represented by Mark Writt of CBRE. The seller, Duke Realty Corp., was represented by Duke’s Jay Archer.

-Raka LLC bought an 8,100-square-foot retail building at 1640 W. Oak St., Zionsville. The price wasn’t disclosed. The buyer was represented by Michael Lombardi of Marcus & Millichap. The seller, Aspen Gold-Zionsville LLC, was represented by Brad Untrauer of Baldwin Companies.

-SRT Holdings LLC bought a 13,860-square-foot office building at 1900 N. Meridian St. The price wasn’t disclosed. The buyer was represented by Jim Bittner of ReMax Real Estate Groups. The seller, Crossroads of America Council Boy Scouts of America Inc, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
 

Suspects sought in gas-station holdups

Law enforcement officials in Tippecanoe and Boone counties are searching for three suspects in a robbery and attempted robbery early Monday morning. Lafayette police reported that three black men entered a Speedway Gas Station at 4325 State Road 26 East just after 2 a.m. and showed the clerk a gun. They took an undisclosed amount of cash and fled. About an hour later, thieves matching the same description attempted to rob a Circle K on State Road 334 in Whitestown, but were unable to leave with money, according to the Boone County Sheriff’s Office. The suspects were seen leaving both locations driving a black, two-door Pontiac Grand Am with custom wheels.