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Interactive Intelligence revenue, profit rises

The Indianapolis business-communications software firm reported second-quarter revenue of $52 million, up 34 percent from the same period last year. Profit grew 26 percent, to $6.3 million.

State’s high court to hear dispute over welfare denials

The Indiana Supreme Court has agreed to review a court ruling that found the Family and Social Services Administration wrongly cut off recipients' welfare benefits for not cooperating without telling them specifically what they did wrong.

Construction

Capitol Construction Services Inc. has completed a 29,000-square-foot office build-out for Liberty Mutual at 11611 N. Meridian St., Carmel.

People

–Gordon Hendry has rejoined the local office of CB Richard Ellis as first vice president.

-Shiel Sexton Co. Inc. has promoted John Andrews to vice president of marketing.

Residential

On a seasonally adjusted basis, the pace of mortgage loan grew 15.5 percent for the week ended July 15, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.54 percent from 4.55 percent the previous week. The rate for 15-year mortgages decreased to 3.66 percent from 3.68 percent.

Leases/leasing contracts

-Formosa Seafood Buffet leased 15,000 square feet at Castleton Plaza, 6300 E. 82nd St. The tenant was represented by Ben Li of Mid-America Realty Inc. The landlord, The Broadbent Co., was represented by Brian Broadbent.

-Paul Davis Restoration leased 9,519 square feet at 9715 Kincaid Drive, Fishers. The tenant was represented by Cam Kucic and Tony Hupp of Summit Realty Group.  The landlord, Meritex Enterprises, was represented by Brian Buschuk and Brian Seitz of Jones Lang LaSalle.

-H.J. Spier Co. Inc. leased 8,784 square feet of office space at Four Woodfield, 8250 Woodfield Crossing Blvd. The tenant was represented by Tom Osborne of Colliers International. The landlord, Federal Home Loan Bank of Indianapolis, was represented by Rick Trimpe and Tim Hull of CB Richard Ellis.

-Legacy Ventures Inc. leased 5,400 square feet of industrial flex space at 5705 W.85th St. The tenant was represented by Rob Christman of Bridge Real Estate Advisors Inc. The landlord, BRE/US Industrial Properties LLC, was represented by Jason Speckman of Summit Realty Group.

-Pekin Insurance leased 3,558 square feet of office space at 2611 Waterfront Parkway. The tenant was represented by Richard King III of Hokanson Cos. The landlord, New Boston Jacaranda LP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.

-Key Sheet Metal leased 3,252 square feet at Garfield Industrial, 2248 N Emerson Ave., Suite C.  The landlord, Painter Bay Trust, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.   

-Moe’s Southwest Grill leased 2,479 square feet of retail space at Rockville Station, 9263 E. Highway 36, Avon. The tenant was represented by Rob Warstler of Colliers International. The landlord, Rockville Station LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.
 
-Circle Center Auto Rebuilders leased 2,002 square feet at Garfield Industrial, 4847 E. 23rd St. The landlord, Painter Bay Trust, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.

-Huddles Sweet Shop & Boutique leased 1,821 square feet at Sophia Square, 110 W. Main St., Carmel. The tenant was represented by Steve Delaney of Sitehawk Retail Real Estate. The landlord, Carmel Lofts LLC, was represented by Ersal Ozdemir of Keystone Construction Group.

-Communications Workers of America leased 1,721 square feet of office space at 2780 Waterfront Parkway. The landlord, New Boston Jacaranda LP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.  The tenant represented itself.

-All Day Towing leased 1,500 square feet at Garfield Industrial Park, 2251 N Dequincy St., Suite E. The landlord, Painter Bay Trust, was represented by David Ciechanowicz of Colliers International. The tenant represented itself.   

-Yogi Frozen Yogurt leased 1,200 square feet of retail space at Sunblest Shoppes, 11803 Allisonville Road, Fishers. The tenant was represented by Kevin Piper of Colliers International. The landlord, G& J LLP, was represented by Greg Smith and Rob Warstler of Colliers International.

-Verizon Wireless leased 1,200 square feet of retail space at Riverstation Shopping Center, 780 Westfield Road, Noblesville. The tenant was represented by Greg Smith of Colliers International. The landlord, Riverstation LLP, was represented by Rob Warstler of Colliers International.
 
-DB Services leased 1,032 square feet of office space at 8604 Allisonville Road. The tenant was represented by Bryan Miller of Cassidy Turley. The landlord, Castle Creek Office LLC, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.

Sales/acquisitions

RSPS Realty bought a 63,249-square-foot industrial building at 1203 E. Saint Clair St. The price wasn’t disclosed. The buyer was represented by Walt Freihofer of Freihofer Inc. The seller, Beacon Printing & Graphics Inc., was represented by Bob Dominguez and Dustin Looper of Colliers International.

Prospects bright for Borders replacements

Brokers expect strong demand from other retailers, in part because the failed bookstore chain carefully chose its real estate, opting for locations near concentrations of affluent and educated consumers.

Company news

New York-based Pfizer Inc., the world’s biggest drugmaker, said it isn’t interested in breaking up its animal health unit after Indianapolis-based Eli Lilly and Co. expressed interest in buying some of its products. Lilly’s Elanco Animal Health unit, which had $1.4 billion in sales last year, has been eager for acquisitions lately, buying up New Jersey-based Johnson & Johnson’s European animal health assets early this year. Lilly Chief Financial Officer Derica Rice said Lilly would certainly take a look at Pfizer’s animal health assets, if Pfizer puts them up for sale. “We will watch how that situation evolves, and if there are some assets that become available that we are interested in, yes, we will pursue them,” Rice told investors and analysts on a conference call July 21. But later that same day, Pfizer spokeswoman Joan Campion told Bloomberg News that Pfizer would rather sell or spin off its animal health business as a whole, not in pieces. Pfizer’s animal health unit had sales last year of $3.5 billion.

It’s not yet clear how Express Scripts Inc.’s $29.1 billion deal to acquire rival Medco Health Solutions will affect the companies’ central Indiana operations—or their 800-plus employees at two facilities here. New Jersey-based Medco has 430 workers at a $140 million automated pharmacy and distribution center in Whitestown. It planned to ramp up Boone County employment to 1,300, but has fallen short of that goal after losing some large contracts. St. Louis-based Express Scripts, which acquired WellPoint Inc.’s pharmacy benefits subsidiary in 2009, said last year it had 400 employees at a specialty drug distribution facility near Indianapolis International Airport and planned to add 180 positions there by 2012. Medco announced last week that it lost an $11 billion contract with Minnesota-based UnitedHealth Group Inc., accounting for 17 percent of its business. The loss drops Medco to No. 3 in the industry, trailing Express Scripts and CVS CareMark Corp.

Eli Lilly and Co. posted better-than-expected second-quarter results and raised its 2011 profit forecast. The Indianapolis-based drugmaker earned $1.2 billion, or $1.07 per share, in the three months ended June 30, a decline of 11 percent compared with the same quarter a year ago. The declines were driven mainly by a 16-percent rise in sales and marketing expenses—used to help launch a new diabetes drug Tradjenta, which Lilly is co-marketing with Germany-based Boehringer Ingelheim GmbH. Lilly also suffered increasing costs from the 2010 U.S. health care reform law, which mandated rebates and fees that cost the company $110 million in the quarter. Excluding a $132 million restructuring charge for Lilly’s ongoing layoffs of 5,500 workers, the company would have earned $1.3 billion, or $1.18 per share, which represents a 4-percent decline in profit from the same quarter last year, when all special charges are excluded. On that basis, analysts were expecting profit of $1.17 per share, according to a survey by Thomson Reuters. Revenue for the quarter totaled $6.3 billion, up 9 percent from a year earlier. Analysts expected only $6 billion in revenue.

People

Dr. Vijay Udyavar Rao has joined St. Francis Medical Group Indiana Heart Physicians. Rao most recently served as clinical instructor in cardiology at the University of California-San Francisco and has also served as a research fellow with California-based biotech firm Genentech Inc. Rao earned a bachelor’s in biology from DePauw University and his medical degree and doctorate at the Medical University of South Carolina.

The Indiana University Melvin and Bren Simon Cancer Center added two new researchers: Amber Mosley uses protein mass spectrometry to study gene expression levels; Pierrick Fournier studies the role of the immune system in bone cancers.

Indianapolis-based Senex Services Corp. has hired Brose McVey as vice president of business development. The former political aide and candidate for Congress had been consulting for Senex before his hiring. Senex buys unpaid hospital debts from patients and tries to collect them.

Airport to use new scanners

Indianapolis International Airport is set to receive new body-scanning technology that will change the images seen by security officials. The new scanning technology from the Transportation Security Administration will show general body outlines instead of naked bodies. Indianapolis is one of 40 U.S. airports set to receive the scanners, likely within a few weeks. The current body-imaging machines have sparked controversy and concern about privacy among passengers.