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Expert: Indiana wheat crop small, but thriving

March 23, 2010

A Purdue University expert says Indiana farmers are growing less wheat this year but the crop so far is thriving.

Indiana freezes some medical savings account rolls

March 23, 2010

The new federal health care bill will put 500,000 more Indiana residents on Medicaid and lead to higher state taxes, Gov.
Mitch Daniels said Monday, but a government insurance proponent said it will help families and businesses.

Construction

March 23, 2010

-Shamrock Builders-Commercial has finished a 4,660-square-foot dental office for Dr. Joe Hadley at 5406 S. Emerson Ave.

-Shamrock Builders-Commercial has started construction of an 8,000-square-foot tenant build-out for RBC Wealth Management
at 8888 Keystone Crossing, Suite 200. The project is scheduled to be completed by May 31.

-Mainstay Inc. has finished an 8,500-square-foot shared senior living residence at 5510 S. Emerson Ave. for KP Partners LLC.

People

March 23, 2010

Adam Carr Crockett has formed a commercial and residential real estate brokerage firm called Innovative Real Estate Inc. Adam will manage the commercial division. His father, Dave Crockett, will manage the residential division. The new company’s Web site is www.innovative-re.net.

Housing

March 23, 2010

On a seasonally adjusted basis, the pace of mortgage loan activity decreased 1.9 percent for the week ended March 12, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.91 percent from 5.01 the previous week. The rate for 15-year mortgages dropped to 4.24 percent from 4.32 percent.

Leasing/leasing contracts

March 23, 2010

-Bridal Superstore leased 15,540 square feet at Castleton Point Shopping Center, 82nd Street and Allisonville Road. The tenant was represented by Andrew Schrage of Coldwell Banker Commercial Realty Services. The landlord, The Broadbent Co., was represented by Broadbent’s John Beuoy.

-Lamar Advertising leased 10,000 square feet at 2200 N. Curry Pike, Bloomington. The tenant was represented by Greg Witkowski of CB Richard Ellis. The landlord, D&S Investments, represented itself.

-Tom James leased 4,139 square feet of office space at 8470 Allison Pointe Blvd. The tenant was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The landlord, Sun Life Assurance Company of Canada, was represented by Andrew D. Martin of Cassidy Turley.

-The Marion County Assessor leased 2,525 square feet in the Warren Professional Building, 7300 E. 31st St. The landlord, Robert J. Walden, was represented by Ed Troha of CB Richard Ellis. The tenant represented itself.
 
-Dr. Erin Phillips DDC leased 2,927 square feet at 8433 Harcourt Road. The tenant was represented by Bill Scott and Eric Steiner of Equis Corp. The landlord, Corvasc MDs PC, was represented by Matt Jackson and Joe Lonnemann of Halakar Real Estate.

-Global Drug Testing Labs Inc. leased 2,400 square feet of office space at Western Select, Building 30, 2525 N. Shadeland Ave. The tenant was represented by Ryan Conrad of Resource Commercial Real Estate. The landlord, Western Select Properties, was represented by Matt Langfeldt and Rich Forslund of NAI Olympia Partners.

-Hiatt Accounting Services Inc. leased 1,750 square feet at 6350 N. Shadeland Ave. The landlord, 6350 Shadeland Ave. LLC, was represented by Matt Jackson and Joe Lonnemann of Halakar Real Estate. The tenant represented itself.

-Timothy Shobe Associates subleased 2,598 square feet at 8727 Commerce Park Drive. The tenant was represented by Matt Jackson and Joe Lonnemann of Halakar Real Estate, as was the lessor, Netwise Resources Inc.  

-Ray Skillman Kia leased 1.55 acres at 1394 N. Shadeland Ave. The landlord,  Justus Companies, was represented by Joe Lonnemann and Matt Jackson of Halakar Real Estate. The tenant represented itself.

-Point Blank Nutrition leased 1,434 square feet at 2784 E. 146th St. The landlord, Thompson Thrift, was represented by Susannah Gershman of Thompson Thrift. The tenant represented itself.

-FANUC America Corp. leased 1,065 square feet at 11708 N. College Ave., Carmel. The tenant was represented by Eric Kemp of Resource Commercial Real Estate. The landlord, RF Management Group LLC, was represented by Brooke Augustin of NAI Olympia Partners.

Sales/acquisitions

March 23, 2010

-Tom and Dana True purchased 11,000 square feet of space on 1.79 acres at 7984 U.S. 40 West in Knightstown. The price wasn’t disclosed. Bob Lindgren of Grubb & Ellis Harding Dahm & Co. represented the buyer and the seller, Kahlo Family Limited Partnership IV.

-MID LLC purchased a 19,100-square-foot office building on 2.3 acres at 9800 Association Court. The price wasn’t disclosed. The buyer was represented by Joe Lonnemann and Matt Jackson of Halakar Real Estate. The seller, DPI Properties, was represented by Tom Willey of Matthewson & Willey Realty and Darrell Pike of Precedent Real Estate Services.

Receivership business picks up for property managers

March 22, 2010

Companies hired by the courts to manage properties in financial distress are benefiting as the number of such properties grows.

Ariad loses $65M patent appeal against Eli Lilly

March 22, 2010

Monday’s decision throws out a $65.2 million patent-infringement verdict won by Ariad for royalties on Lilly’s osteoporosis
drug Evista and sepsis medicine Xigris.

Fair Finance co-owner charged with domestic battery

March 22, 2010

The embattled businessman was booked into the Hamilton County Jail following an incident Saturday morning at his Geist Reservoir
home.

State attorney general looks to challenge health care bill

March 22, 2010

Attorneys general in at least 13 states have signaled they intend to challenge the constitutionality of the legislation in
court.

Your favorite Indiana author?

March 22, 2010

Deadline approaching for nominees for this year’s Eugene & Marilyn Glick Indiana Authors Award. And three writers will score
big.

Bill kicks off years of change for local health care players

March 22, 2010

Sweeping changes phase in slowly for most, but insurers, hospitals, drug companies, employers, workers, medical device makers
and more will eventually feel impact.

Fire chases apartment residents

March 22, 2010

More than a dozen people spent the night in an east-side Indianapolis motel after fire and smoke forced them from their East
Washington Street apartment building. Eleven residents of the Washington Arms Apartments were treated for smoke inhalation
Sunday after fire broke out in the basement and spread. When firefighters arrived, they found several residents hanging out
of upstairs windows. No serious injuries were reported. Damages are listed at $100,000.

BMW, Carbon Motors ink $1.35B supply contract

March 22, 2010

BMW has won a contract from Indiana-based Carbon Motors Corp. worth more than $1.35 billion to supply engines for U.S. police
cars.

Martinsville superintendent arrested

March 22, 2010

The superintendent of Martinsville Schools is expected to make a statement Monday after being arrested this weekend on charges
of driving under the influence. Ron Furniss was arrested on Blue Bluff Road in Martinsville Saturday night after being clocked
at 61 mph in a 35-mph zone. He was taken to the Morgan County jail, according to police, but has been released on bond. Police
say Furniss had a blood-alcohol content of 0.16, twice the legal limit at the time of his arrest.

Teens die in bike-truck accident

March 22, 2010

Two teenagers have died after the bicycle they were riding was hit by a pickup early Sunday morning. The accident occurred about 2 a.m. on U.S. 31 near Seymour. Todd Schurman, 17, died at the scene. Zach Grubb, 17, died later after being treated for severe head trauma in Indianapolis. Police don't believe drugs or alcohol were a factor. Fox59 will have more at 4 p.m.

Insurer lending $7M for east-side Super Bowl project

March 22, 2010

The aim is to spur redevelopment on the city’s blighted near-east side before the 2012 Super Bowl is played in Indianapolis.

Reform offers risk, opportunities for Lilly, WellPoint

March 22, 2010

Drugmakers and insurers could gain millions of customers under the legislation, but the industry also will pay new fees and
face stricter rules that may shrink profit and fuel mergers.

ITT ‘buying accreditation’ strategy makes critics uneasy

March 22, 2010

ITT Educational Services and other for-profit educators are buying not-for-profit colleges to gain access to their regional
accreditation. The tactic could fuel rapid growth but makes critics uncomfortable.

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