Environmental services firm to build $40M refinery
Heritage-Crystal Clean Inc. plans to build an oil re-refinery in Speedway, creating as many as 75 new jobs by 2013.
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Lilly’s Alzheimer’s gamble takes aim at $10 billion in patent losses
Both of Lilly’s late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers
to be a main contributor to Alzheimer’s. A drug that stops or reduces memory loss caused by Alzheimer’s may be worth more
than $5 billion
a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
Attorney general says schools can’t charge bus riders
The opinion presents a complication for districts like Franklin Township Schools on the south side of Indianapolis, which
had been counting on charging a bus fee of about $75 per rider beginning this fall.
Leasing/leasing contracts
-The Kroger Co. leased 40,000 square feet at 254 S. Kitley. The tenant was represented by Stan Elser of Grubb
& Ellis Harding Dahm & Co. The landlord, Kitley AB Sydney LLC, represented itself.
-Ellis Enterprises LLC leased 10,000 square feet in the Raceway Industrial Park, 1305 W. 29th St., Anderson. The tenant and
the landlord, Tower Anderson, were represented by Thomas Willey of Mathewson Willey Realty Advisors.
-CG Café leased 6,700 square feet in the Pavilion at Bargersville, 50 N. State Road 135. The owner/landlord, J&E
Anderson, was represented by Shannon Hicks and Donna Hovey of CB Richard Ellis. The tenant
represented itself.
-Indiana Compensation Rating Bureau leased 4,300 square feet at 5920 Castleway West Drive. The tenant was represented by
Rick Trimpe of CB Richard Ellis. The landlord, BREOF Castleton Park REO, was represented by David
A. Moore and Darrin L. Boyd of Cassidy Turley.
-Financial Vision LLC leased 3,032 square feet of office space at 3500 Depauw Boulevard. The landlord, CP Pyramids Associates
LP, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The tenant represented
itself.
-Castleton Orthodontics Inc. leased 2,895 square of office space at 8140 Knue Road. The tenant was represented by Mike
Napariu of REI Real Estate Services. The landlord, BREOF Castleton Park REO, was represented by David A.
Moore and Darrin L. Boyd of Cassidy Turley.
-Prevail Prosthetics & Orthotics Inc. leased 2,500 square feet of office space at 8345 Clearvista Place. The tenant was
represented by Darrin L. Boyd and David A. Moore of Cassidy Turley. The landlord, Good Host
LLC, was represented by Nick Arterburn of CB Richard Ellis.
-Simple Solutions Automation LLC leased 1,800 square feet of office space at 8847 Commerce Park Place. The landlord, Dhillon
Commerce Park LLC was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley.
The tenant represented itself.
-PT Nails leased 1,400 square feet in The Shoppes at Buck Creek, 6485 Bluff Road. The landlord, PK/FRG I LLC, was represented
by Shannon Hicks and Donna Hovey of CB Richard Ellis. The tenant represented itself.
-Tuchman Cleaners leased 1,200 square feet at Meijer Outlot Shops, 1424 W. Carmel Drive, Carmel. The tenant was represented
by Stan Evans of RSE Realty Inc. The landlord, Terre Carmel East LLC, was represented by Tom English
and Larry Davis of Sitehawk Retail Real Estate.
Housing
On a seasonally adjusted basis, the pace of mortgage loan activity increased 6.7 percent for the week ended July 2, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 4.68 percent from 4.67 percent the previous week. The rate for 15-year mortgages increased to 4.11 percent from 4.06 percent.
Construction
-D.B. Klain Builders LLC is building out a 5,600-square-foot tenant space for Wonder Ware at 8870 Guion Road. The project is scheduled to be completed by the end of this month.
-Commercial Team Construction LLC has been selected to build an 8,000-square-foot addition for American Coated Products at 7436 Mayflower Park Drive, Zionsville. The project is scheduled to be completed in late December.
Sales/acquisitions
-JMMC LLC bought a 10,000-square-foot office building at 5155 N. Shadeland Ave. The price wasn’t disclosed. The buyer was represented by Mark Jones of Copesetic Investments. The seller, ONB Realty III, was represented by Keith Dedrick of Corporate Commercial Group.
-Indianapolis Resource Center for Independent Living Inc. bought a 4,000-square-foot medical office building at 5302 E. Washington St. The price wasn’t disclosed. The buyer was represented by Dave Trulock of Prudenhttps://admin.ibj.com/admin/article/workflow/claim?articleId=21048#tial Indiana Realty Group. The seller, Acme Specialties Inc., was represented by Keith Dedrick of Corporate Commercial Group.
Lugar, Meadows projects get tax credits
Two high-profile apartment projects that were denied tax-credit funding in March recently were awarded the millions of dollars in credits they need to proceed.
New March Madness plan includes four first-round games
Two of the so-called “First Four” games will match the lowest seeds, between 65 and 68. The other two games will include the
last four at-large qualifiers.
Lilly to cut 170 manufacturing jobs by year’s end
Eli Lilly and Co. will cut 170 jobs—mostly in Indianapolis—from its manufacturing and quality division by the
end of the year as it continues its efforts to slim down before losing revenue from patent expirations on its bestselling
drugs.
UPDATE: CIB wringing money from general operating fund to pay Pacers
A combination of taxes targeting downtown visitors and users of the city’s professional sports complexes are expected to generate
the bulk of the subsidy.
Marsh workers seek union election at local store
Local 700 said worker interest in union representation began to rise at Marsh Supermarkets after Florida-based private equity
group Sun Capital Partners acquired the grocery chain in 2006.
Medical device maker plans Warsaw expansion
Biomet could add about 280 jobs with the $26 million project, which would lead to some manufacturing being transferred from
New Jersey.
K-9 officer helps nab alleged abductor
Police say they have in custody a man who allegedly abducted his girlfriend at knifepoint early Monday morning. The abduction
took place on Indianapolis’ south side about 7 a.m. The man was apprehended after a brief K-9 pursuit near 52nd Street
and Lafayette Road.
Family bolts home after lightning strike
A Carmel family managed to escape their home safely after lightning struck the roof just before 3 a.m. Monday, causing a
fire. Eight children and six adults were asleep in the home on Washita Court near 146th Street and Hazel Dell Parkway after
celebrating a family reunion. After the lightening hit, one of the family members noticed flames coming from the ventilation
system and put them out with a fire extinguisher.
Police seek driver in fatal hit-and-run
Police are trying to find the driver of an SUV that hit and killed a motorcyclist early Sunday morning at the intersection
of South Meridian Street and Southern Plaza in Indianapolis. Witnesses say the dark SUV stopped at a stop sign by the intersection
but did not yield right-of-way for the motorcycle. The driver of the motorcycle was killed in the crash; a passenger on the
bike received minor injuries. The SUV driver fled the accident site. Fox59 will have more at 4 p.m.
Update: Rendering of new CSO headquarters
Plans for a new headquarters for locally based CSO Architects will mean new life for a vacant eyesore at Keystone at the Crossing.
Check out the rendering showing the company's vision for the 24,000-square-foot former Bally Total Fitness facility.
Danica Patrick ad is just blowing smoke
IndyCar racer turned NASCAR Nationwide Series driver needs to lose the defiant tone in her ESPN ad and rev up a little humility
until she starts winning.