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Council to decide Keystone Towers’ fate

The future of an Indianapolis eyesore could be decided Monday night during a City-County Council meeting. Discussion about demolishing Keystone Towers is on the agenda. The high-rise complex has been empty for several years and has become a haven for squatters and drug dealers. The council could approve using millions in federal tax dollars to tear them down. If that happens, demolition could be complete by the end of summer.

Deputy arrested on drunk-driving charges

A Marion County sheriff’s deputy was arrested over the weekend for driving drunk. Deputy Nathaniel Neal was pulled over on Interstate 465 northbound near I-69 early Sunday morning. State Police said Neal was driving his personal vehicle with a blood alcohol level of 0.15, nearly twice the legal limit of 0.08. Neal was released from jail on bond. His hearing is scheduled for June 2.

Economists: Lower growth, higher oil prices coming

The predictions of the economists reflect the jitteriness of a public that is still recovering from the financial crisis and now getting squeezed by rising prices for gas, groceries and other household items.

Construction

The Hagerman Group has been named general contractor for the $38 million Indiana University Jacobs School of Music Studio Building in Bloomington. Construction of the 85,000-square-foot building, designed by Browning Day Mullins Dierdorf, started this month and is to be completed by July 2013.

Residential

On a seasonally adjusted basis, the pace of mortgage loan activity increased 8.2 percent for the week ended May 6, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.67 percent from 4.76 percent the previous week. The rate for 15-year mortgages decreased to 3.81 percent from 3.96 percent.

Leases/leasing contracts

-Jones Lang LaSalle has been named exclusive leasing agent for City Center at Penn, a 136,728-square-foot office building at 1320 N. City Center Drive, Carmel. John Robinson and Adam Broderick will be in charge of leasing the property for JLL.

-Minority Trades LLC, dba North Meridian Hardware, has leased a 21,000-square-foot building at 1433-1435 N. Meridian St. The tenant, which has an option to purchase the property, was represented by Nicholas Wright of Newbridge Commercial Real Estate Inc. The landlord, Metropolitan Indianapolis Public Broadcasting Inc., was represented by Charles Cagann of Mansur Real Estate.

-Division IX LTD leased 7,000 square feet at Circle City Industrial Complex, 1125 Brookside Ave. The tenant, a construction company, was represented by Conrad Jacobs of Newmark Knight Frank Halakar. The landlord, National Bank of Indianapolis, was represented by Ashley Bussel and Ralph Balber of Newmark Knight Frank Halakar.

-La Fuente Mexican Restaurant  leased 4,923 square feet at Exit Five Shopping Center, 9771-9775 116th St., Fishers.  The landlord, Sunbeam Development Corp., was represented by Mark Perlstein of Sitehawk Retail Real Estate. The tenant represented itself.

-Kimigasuki Japanese Steak House leased 3,860 square feet at Avon Crossing, 7840 U.S. 36, Avon. The landlord, Cranfill Development Corp., was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.

-Filterfresh Coffee Service Inc. renewed its lease for 2,880 square feet at Corporate Center North, 7005 Corporate Drive. The tenant was represented by Carson Jones of Partners National. The landlord, CalEast Industrial Investors LLC, was represented by Kyle Powell, Russell Van Til and Bryan Poynter of Cassidy Turley.

-Accenture leased 2,544 square feet at Chase Tower, 111 Monument Circle. The landlord, Charter Hall Office REIT, was represented by Adam Broderick and John Robinson of Jones Lang LaSalle. The tenant represented itself.

-North Meridian Psychiatric Associates leased 2,174 square feet at 9302 N. Meridian St. The tenant was represented by Pete Anderson of Cassidy Turley. The landlord, Gibraltar Properties, was represented by Adam Broderick and John Robinson of Jones Lang LaSalle.    

-Brickyard Gutter Systems Inc. leased 2,104 square feet at 116 S. Park Drive, Greenwood. The tenant was represented by Kyle Powell and Michael Weishaar of Cassidy Turley. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.

-Jimmy Johns Gourmet Sandwiches leased 2,006 square feet at Washington Square Commons, 10110 E. Washington St. The tenant was represented by Drew Warner of Eclipse Real Estate. The landlord, 10110 E. Washington St. LLC, was represented by Mark Perlstein of Sitehawk Retail Real Estate.

-Neuropsychology Associates leased 1,933 square feet at Green on Meridian, 10291 N. Meridian St., Carmel. The landlord, Gibraltar Properties, was represented by Adam Broderick and John Robinson of Jones Lang LaSalle. The tenant represented itself.    

-Subway leased 1,881 square feet at Michigan Road Shoppes, 8800 N. Michigan Road. The tenant was represented by Tracey Holtzman of Midland Atlantic. The landlord, I.I. Mart LLC, was represented by Mark Perlstein of Sitehawk Retail Real Estate.

-Dr. Gregory Hale leased 1,047 square feet at Green on Meridian, 10291 N. Meridian St., Carmel. The landlord, Gibraltar Properties, was represented by Adam Broderick and John Robinson of Jones Lang LaSalle. The tenant represented itself.    

-BoxCrush leased 1,020 square feet at 9302 N. Meridian St. The tenant was represented by Alex Cantu of Summit Realty. The landlord, Gibraltar Properties, was represented by Adam Broderick and John Robinson of Jones Lang LaSalle.

Sales/acquisitions

-Jody Simmons bought the 56,000-square-foot Indy Southside Sports Academy complex at 4150 Kildeer Drive. The price wasn’t disclosed. The seller, Ceeco Associates, was represented by Keith Dedrick of Corporate Commercial Group. The buyer was self represented.

-Heart’s Landing LLC bought a 360-unit apartment complex at 9350 E. 43rd St. The price wasn’t disclosed. The buyer and seller, Sutton Place Apartments LP, were represented by Colin M. Atkinson of the local office of Marcus & Millichap and Robert Sheppard, Armand Tiberio and Spencer Hurst of the firm’s Seattle office.

Company news

Eli Lilly and Co. is a two-timing lout, according to a lawsuit filed Monday by Amylin Pharmaceuticals Inc., a San Diego-based company with which Lilly has developed and co-marketed Byetta, a successful diabetes drug. Amylin’s lawsuit accuses Indianapolis-based Lilly of breaking terms of their deal by forming a similar development and marketing agreement with Germany-based Boehringer Ingelheim GmbH to sell a drug that will compete with Byetta. The competing drug, called Tradjenta, was approved for sale this month by U.S. regulators. Lilly and Boehringer formed their agreement in January. Amylin said it plans to continue working with Lilly, but it wants to keep Lilly from using the same sales force to sell both Byetta and Tradjenta. Its lawsuit was filed in U.S. District Court for the Southern District of California. Lilly’s top diabetes executive, Enrique Conterno, called Amylin’s suit “without merit.”

The U.S. Food and Drug Administration requested new data or new studies from Zimmer Holdings Inc., DePuy Orthopaedics Inc., Biomet Inc. and many other makers of orthopedic implants to see if metal-on-metal hip implants raise the level of metals in patients’ blood, according to Bloomberg News. Zimmer, DePuy and Biomet are all based in Warsaw. Zimmer spokesman Garry Clark wrote in an e-mail to Bloomberg News that his company was "working to understand the scope of the agency's request."

Ball Memorial Hospital was losing $9 million a year before Indianapolis-based Indiana University Health acquired it in 2009. Two years later, Ball executives say the Muncie hospital has swung to a $6 million gain, according to The Star Press in Muncie. Ball Memorial executives say they reduced costs via an 18-month pay freeze and by taking advantage of IU Health’s greater buying power. “If Ball Memorial is paying $10 a unit but the next day I can pay $7 because of the IU Health relationship, those cost savings are significant,” Ball Memorial chief Michael Haley told the newspaper. He added that the hospital has worked to increase patient referrals by repairing strained relationships with local physicians, many of whom were referring patients to hospitals in Fort Wayne or Indianapolis.

A consumer advocacy group says Eli Lilly and Co.’s Amyvid, an experimental imaging agent to help doctors detect Alzheimer’s disease in patients’ brains, shouldn’t be approved because it could lead to false diagnoses of the disease, according to Bloomberg News. Public Citizen, based in Washington, D.C., voiced its concerns in a letter in the Journal of the American Medical Association, criticizing a 35-person study of Amyvid published in January. Amyvid, which Lilly acquired last year in a $300 million purchase of Avid Radiopharmaceuticals Inc., was recommended in March by a U.S. Food and Drug Administration advisory panel—if Lilly developed a training program to help doctors interpret brain scans in which the agent lights up clusters of amyloid plaques, the telltale sign of Alzheimer’s. Currently, such plaques can only be observed in autopsies of deceased Alzheimer’s patients. But Public Citizen wants Amyvid tested by more doctors in more patients, because it says results so far have been unreliable. Lilly officials called the group’s claims “inaccurate.”

Former speaker Gregg to run for Indiana governor

As expected, former Democratic Indiana House Speaker John Gregg plans to run for governor. Gregg called all 92 county chairmen over the weekend to tell them, his campaign said.

Amylin sues Lilly over drug development deal

Amylin Pharmaceuticals Inc. said Monday it filed a lawsuit against Eli Lilly and Co., accusing the larger drugmaker of breaking their commercialization deal for diabetes drugs by teaming with the German company Boehringer Ingelheim to develop and sell a competing product.

Area home sales slump for 12th straight month

Indianapolis-area home-sale agreements fell 36.4 percent in April compared to the same month last year, marking 12 consecutive months in which year-over-year sales have fallen.

Common sense might not keep you from being carded

The revised law that takes effect July 1 requires that only those who appear to be younger than 40 show ID when buying alcohol. But some retailers who embraced the stricter provisions say they're not ready to give customers the benefit of the doubt.

Panel backs caps on Indiana college tuition hikes

Indiana's higher education commission on Friday approved recommendations that the state's public universities keep their tuition increases under caps of 2.5 percent to 3.5 percent in each of the next two years.

People

Community Heart and Vascular named registered nurse Pamela Hunt its chief nursing executive and vice president of patient care services at the Indiana Heart Hospital.  Hunt comes from Howard Regional Health System in Kokomo, where she had served as chief nursing officer and vice president of patient-care services since August 2008. Hunt holds nursing degrees from Indiana and Indiana Wesleyan universities.

Bioanalytical Systems Inc., based in West Lafayette, hired Peter White as its director of laboratory operations at its facility in Kenilworth, Warwickshire, England. White, a 10-year veteran of the pharmaceutical industry, holds a bachelor's degree in applied biochemical sciences from the University of Ulster.

Ray Elliott, former CEO of Warsaw-based Zimmer Holdings Inc., will resign at year’s end as CEO of Massachusetts-based Boston Scientific Inc.

VCs: Health benefits will be defined contribution

Increasing government involvement in the health insurance market will have the counter-intuitive effect of making the industry more consumer-driven, concludes a new report from a health care venture-capital firm.