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City lands major expo with $19M economic impact

The National Safety Council’s Annual Congress & Expo will come to Indianapolis for the first time in September 2019. It's expected to draw 14,000 delegates, likely making it one of the five biggest conventions the city hosts that year.

CIB contributes $500,000 toward tourism effort

The gift will enable the Indianapolis Convention & Visitors Association to continue an annual marketing campaign aimed at attracting Midwestern visitors to the city.

NBA scraps first two weeks of regular season

Team owners and players were unable to reach a new labor deal Monday and end the lockout. The cancellation includes all games scheduled to be played through Nov. 14. The first seven games on the Indiana Pacers’ schedule will be lost.

Feds won’t resolve dispute over extending I-69

Agency says state officials need the Bloomington-Monroe County Metropolitan Planning Organization’s backing to spend federal money on a section of interstate intended link with Indiana 37 near Bloomington.

Construction

-S&B Construction has been hired to construct a 7,000-square-foot building at 4015 E. Southport Road that will house a 4,000-square-foot Crown Liquors. The building is scheduled to be completed in late February.

-Capitol Construction Services has completed a 4,100-square-foot expansion for Allegiant at 201 W. 103rd St.

People

Kyle T. Hughes and Jamison Downs have been named partners in Veritas Realty.

Residential

The pace of mortgage loan applications decreased 4.3 percent for the week ended Oct. 5, according to a weekly survey of large lenders by Bankrate.com. The average rate for 30-year mortgages declined to 4.21 percent from 4.30 percent the previous week. The rate for 15-year mortgages declined to 3.46 percent from 3.47 percent.

Leases/leasing contracts

-Resin Partners Inc. leased 50,000 square feet of warehouse space at Raceway Industrial Park, 1305 W 29th St., Anderson. The tenant and landlord, Tower Anderson LLC, were represented by Thomas Willey and Kurt Mathewson of Mathewson Willey.

-Keihin North America Inc. leased 19,038 square feet of industrial space at 9900 Westpoint Drive. The tenant was represented by Stan Elser of Lee & Associates. The landlord, LIT Industrial Limited Partnership, was represented by Bryan Poynter and Fritz Kauffman of Cassidy Turley.

-Vision Volleyball Group LLC leased 11,700 square feet of industrial space at 9325 Uptown Drive. The tenant was represented by Kyle Powell of Cassidy Turley. The landlord, Uptown Village LLC, was represented by Debbie Mann of Mann Properties.

-Massage Envy leased 4,800 square feet at Allyne Park, 1001 N. State Road 135, Greenwood. The tenant was represented by Tracey Holtzman of Midland Atlantic. The landlord, Allyne Park Dynasty, was represented by Liz Yoho of Providence Development.

-Algaewheel Inc. subleased 4,251 square feet at 201 N. Illinois St.  The tenant was represented by Rob Christman of Bridge Real Estate Advisors Inc. The sublessor, Star Underwriting Agencies LLC, was represented by Katie Blastick of Summit Realty.

-ATA Martial Arts leased 3,991 square feet at Willow Lake East, 2432 Lake Circle Drive. The landlord, USRP Willow East LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-Terzo & Bologna renewed its lease for 3,891 square feet of office space at 8606 Allisonville Road. The landlord, Castle Creek Office LLC, was represented by Brian Fitzgerald of Citimark Management Co. The tenant represented itself.

-Ballerina’s Academy of Dance leased 3,025 square feet of flex space in Stony Creek Business Park, 15262 Herriman Blvd., Noblesville. The tenant and landlord, Herriman & Keeler, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.

-CSC Credit Services leased 2,754 square feet of office space at 8604 Allisonville Road. The tenant was represented by Graham Summers of Jones Lang LaSalle. The landlord, Castle Creek Office LLC, was represented by Brian Fitzgerald of Citimark Management Co.

-Orange Leaf Yogurt leased 2,000 square feet of space at 14300 Mundy Drive, Noblesville. The tenant was represented by Donna Hovey of CB Richard Ellis. The landlord, Prairie Lakes II LLC, was represented by Liz Yoho of Providence Development.
 
-GiGi’s Cupcakes leased 1,960 square feet of retail space in Fishers Gateway Shops, 8981 E. 116th St., Fishers. The landlord, FG Associates LLC, was represented by Robyn Smart of Lee & Associates. The tenant represented itself.
 
-Global Gifts leased 1,600 square feet at Nora Plaza, 1300 E. 86th St. The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Ramco Gershenson, was represented by Gilli Zofan of Ramco Gershenson.

-New Heights Enterprises leased 675 square feet of retail space at 5629 Georgetown Road. The tenant and landlord, Indy Management Group, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.

Sales/acquisitions

Mooresville Self Storage-Storenow bought a 34,000-square-foot self-storage facility at 11230 State Road 67, Mooresville. The price wasn’t disclosed. The buyer and seller, Sandy Perry, were represented by Mike Kensill of Lee & Associates.

Company news

Executives at Bloomington-based Cook Group never have had kind words for the 2.3-percent excise tax that the 2010 health reform placed on medical-device makers. But now the maker of catheters, stents and other medical implants is trotting out specific numbers on just how much the tax is costing Cook. Company President Kem Hawkins told Fox Business the excise tax will cost Cook Group about $17 million in 2011. By comparison, Cook spent $12 million to open a plant in Canton, Ill., which now employs 300 people. “If people don’t think companies are being forced to leave our shores, they need to take a look around at what’s happening,” Hawkins told Fox Business. “Our government shouldn’t be placing obstacles in the path of companies that employ Americans.” In October 2009, the late founder of Cook Group, Bill Cook, said the tax could force the company to trim 1,000 jobs.

The planned merger of Indiana University Health and Kokomo’s Howard Regional Health System is now dead, the two hospitals announced Oct. 3. The integration of the two not-for-profit hospital systems was approved by Howard Regional's board in late May. At the time, Howard Regional officials said they needed the economies of scale of a larger system because of deteriorating demographics in its trade area and the threat of lower reimbursement from the 2010 health reform law. But now Howard CEO Jim Alender is citing the uncertainty of health reform as the reason for cutting off discussions with IU Health. “We know change is coming, but we do not know the form of these changes given the ongoing debates in Washington and the litigation over health care reform,” Alender said in a prepared statement. IU Health CEO Dan Evans said the two hospitals will continue to work in partnership.

Performance weakened at Warsaw-based Biomet Inc. during the three months ended Aug. 31. The maker of orthopedic implants said sales in the quarter were flat, when factoring out the benefit of foreign exchange rates. And the company’s earnings before interest, taxes, depreciation and amortization fell nearly 2 percent, or $3.9 million, to $202.5 million. Officially, Biomet recorded a loss of $39.2 million, more than twice as large as its loss during the same quarter a year ago. Sales, including the benefit of foreign exchange rates, rose nearly 4 percent to $664.6 million. "Biomet's results indicated continued weakness in its core (knees and hips) as well as spine and trauma markets,” wrote Barclays analyst Adam Feinstein in a research report. He added, “the flat growth in core recon and declines in spine and trauma point to continued weakness in ortho market fundamentals.”

WellPoint Inc. subsidiary National Government Services Inc. won a five-year Medicare contract worth up to $273 million. Under the agreement, WellPoint will process Medicare claims from Alaska, American Samoa, Arizona, California, Guam, Hawaii, Idaho, Illinois, Michigan, Minnesota, Nevada, New Jersey, New York, the Northern Mariana Islands, Oregon, Puerto Rico, the U.S. Virgin Islands, Wisconsin and Washington. WellPoint has been trying to grow its business as a contractor for Medicare and Medicaid programs, which are predicted to grow in coming years even as WellPoint’s employer-sponsored health insurance business stagnates.

Drugmaker Eli Lilly and Co. doesn’t plan to buy Pfizer Inc.’s $3.6 billion animal-health business, CEO John Lechleiter told Bloomberg Oct. 5. In July, Lilly Chief Financial Officer Derica Rice said Lilly was interested in some Pfizer assets, but Pfizer said it wouldn’t break the business into smaller pieces to sell. “We don’t think we have to make a large acquisition,” Lilly’s Lechleiter said. “In our animal-health business, we’ve got a pretty good mix of organic growth and growth from smaller acquisitions. I think that’s the approach we’re going to take.” Lilly's Elanco animal-health business, which is based in Greenfield and has 2,400 employees, is expected to rack up sales this year of $1.7 billion.

Police nab robbery suspect

One man is in custody following an overnight armed robbery, and police are searching for other suspects. Metro police said four men robbed Burt’s Peppy Grill on East 10th Street and Tuxedo Street about 1:15 a.m. Monday. The robbers wore black hooded sweatshirts and used handkerchiefs to cover their faces. Investigators searched the area with the assistance of K-9 officers and found one man hiding on top of a garage in the 1000 block of North Olney Street. Police said the suspects should be considered armed and dangerous; officers are asking residents to be on the lookout for discarded clothing and guns in the area of 3400 East 10th Street.