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Rates
The average rate for 30-year mortgages fell from 4.30 percent to 4.27 percent in the week ended Oct. 2, according to Bankrate.com. The rate for 15-year mortgages fell from 3.46 percent to 3.44 percent.
Leases/leasing contracts
-Cintas Corp. leased 79,776 square feet of industrial space at 1165 S. Girls School Road. The tenant was represented by Mark Writt of CBRE. The landlord, Morris West Limited Partnership, was represented by Patrick Lindley and Grant Lindley of Cassidy Turley.
-1-800-Pack-Rat leased 33,180 square feet of industrial space at 7535 Company Drive. The tenant was represented by Glenn Davis of Colliers International. The landlord, Panattoni Development Co., was represented by Luke Wessel and Grant Lindley of Cassidy Turley.
-DSG Indiana LLC leased 19,948 square feet of industrial space at 909 Whitaker Road, Plainfield. The tenant was represented by Luke Wessel of Cassidy Turley. The landlord, Industrial Income Trust, was represented by Brian Seitz of JLL.
-Tru-Flex LLC leased 14,250 square feet of industrial space at 3811 Perry Blvd., Whitestown. The tenant was represented by Grant Lindley of Cassidy Turley. The landlord, WF Industrial Properties LLC, was represented by Patrick Lindley of Cassidy Turley.
-Delta Sigma Phi leased 8,568 square feet of office space at 2960 N. Meridian St. The tenant was represented by Ralph Balber of Newmark Knight Frank Halakar. The landlord, Brougher Plaza LLC, was represented by Jon Owens of Cassidy Turley.
-Select Physical Therapy renewed its lease for 3,194 square feet of retail space in George Thomas Plaza, 1048 N. Shadeland Ave. The landlord, Ladywood Apartments LLC, was represented by Cindy Hoskinson of Lee & Associates. The tenant represented itself.
Sales/acquisitions
-Blue Devil Properties bought an 8,713-square-foot industrial property at 140 S. College Ave. The buyer was represented by Walter Freihofer of Freihofer Commercial Real Estate. The seller, Janet Dible, was represented by Ray Simons of Cassidy Turley.
-Wedgefield Group LLC bought a 10,160-square-foot office property at 7301 N. Shadeland Ave. The buyer was represented by Chris Hake of Thompson Thrift. The seller, Indiana Association of Realtors, was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Taco Bell of America bought 0.6 of an acre at 1017 W. Main St., Greenfield. The buyer was represented by John Byrne of Radar Commercial Real Estate. The seller, Terry Day, was self represented.
Business, philanthropic leaders urge preschool expansion
Indiana lawmakers should act quickly to expand a preschool pilot program – one that’s not even yet underway – when they meet for their budget-writing session next year, business and not-for-profit leaders said Monday.
Pence asks HHS for alternative Medicaid approval
The governor met with Health and Human Services Secretary Sylvia Burwell on Monday in Washington, D.C., but said no deal has been reached yet.
$20M project on tap for Mapleton-Fall Creek area
The planned $20 million senior housing and retail project could help breathe new life into a blighted neighborhood that’s sorely in need of investment.
BidPal names chief executive to replace Webber
BidPal Inc. has hired an executive with a diverse background in event production, digital media and technology to succeed longtime CEO and tech industry leader Scott Webber.
Accountable care organizations strike out in Indiana
None of the 11 ACOs with operations in Indiana saved money for Medicare or achieved a bonus for themselves last year.
Indianapolis again says proposals for justice complex not public
A representative of Indianapolis Mayor Greg Ballard told Marion County judges Monday that the request for proposals the city issued to three teams competing to design, finance and construct a criminal justice facility is not a document the public can see.
More hospitals hit with do-over penalties
Medicare will reduce payments to 68 Indiana hospitals—a 62-percent increase from last year—for having too many patients return within 30 days.
Indiana Rep. Brooks urges more women in politics
Rep. Susan Brooks also said it's unfortunate that the United States hasn't had a female president while many other countries have been led by women.
People
Indiana University Health named Ron Stiver president of system clinical services, a new position from which he will oversee IU Health’s ambulatory surgery centers, home health, critical care transport, retail pharmacies, sports performance and telemedicine. Since 2009, Stiver has been IU Health’s senior vice president of engagement and strategy. He earlier served as commissioner of the Indiana Bureau of Motor Vehicles and the Indiana Department of Workforce Development. Stiver earned a bachelor’s degree in economics from DePauw University and an MBA from Duke University.
Dr. Alison Grant, a family physician, has joined Community Health Network in Greenwood. She completed her medical degree at Jefferson Medical College in Philadelphia and earned a bachelor’s degree from Wellesley College.
Dr. Anthony Arata, a family physician, has joined Community Physician Network in Indianapolis. He earned a bachelor’s degree from the University of Notre Dame and a medical degree from Saba University School of Medicine in Netherlands-Antilles.
Dr. Jayender Chintaparthi, an endocrinologist, has joined Community Health Network in Indianapolis. He completed his bachelor of medicine and bachelor of surgery degrees at Kurnool Medical College in Kurnool, India.
Company news
St. Vincent Health will close its long-term acute hospital in Lafayette in the next two months, leaving as many as 83 workers without jobs. The Indianapolis-based hospital system stopped accepting new patients last week at Seton Specialty Hospital if they require stays of 25 days or longer. The facility will close after all current patients end their stays. St. Vincent officials said they would have had to find a new home for Seton because the campus where it leased space— Franciscan St. Elizabeth Health’s Central campus—moved its operations to the Franciscan St. Elizabeth Health’s East campus, also in Lafayette, last month. St. Vincent will continue to operate its other Seton Specialty Hospital in Indianapolis. The Seton Specialty Hospital in Indianapolis has been running at higher occupancy and posting larger profits than its counterpart in Lafayette, according to St. Vincent’s annual filings with the Indiana State Department of Health.
One of three experimental drugs in Eli Lilly and Co.’s push into autoimmune medicines has flamed out. Indianapolis-based Lilly said it would end development of its lupus drug after it failed in overall results generated by two Phase 3 trials in humans. Lilly gave the drug in two doses to patients and in one of the trials, the higher dose showed a statistically significant improvement in patients compared with those taking a placebo. But the lower dose did not. And in a second clinical trial, both doses failed to show a significant benefit versus placebo. Lilly will take an accounting charge in the third quarter of as much as $75 million before taxes. In August, Lilly announced that an autoimmune drug to treat psoriasis had shown marked improvement over an existing therapy, and that Lilly would submit it to regulators for approval. Lilly is also studying a third autoimmune drug to treat rheumatoid arthritis. Results from that drug are expected late this year or early next year.
Community Health Network received a $3.7 million grant from the Substance Abuse and Mental Health Services Administration to fund its early intervention program to prevent suicides among Hoosiers ages 10 to 24. Over the next five years, Community will use the federal money to work with 600 primary care physicians, 13 hospitals and 11 emergency departments around the state, offering them crisis services, psychiatry services provided over the Internet, and intensive care coordination. Those providers and facilities, some of which are part of Community’s health system, will serve 5,000 Hoosiers per year. Community will also work with schools, foster care agencies, juvenile justice programs, state government agencies and others to build a statewide crisis network of people trained to identify young people at risk of attempting suicide, provide timely intervention, and quickly connect them with Community’s crisis providers.
Lilly partner ordered to pay more than $2M to ex-Actos user
Takeda Pharmaceutical Co. was ordered by a jury to pay more than $2 million to a woman who claimed the company’s Actos diabetes medicine caused her bladder cancer, in the latest of thousands of lawsuits involving the drug to go to trial.
St. Vincent closure of Lafayette hospital to ax 83 jobs
St. Vincent Health will close its long-term acute hospital in Lafayette in the next two months, leaving as many as 83 workers without jobs. St. Vincent will continue to operate its other Seton Specialty Hospital in Indianapolis.
Work starting on new I-65 exit near Indianapolis
Plans had called for the $16 million interchange to open by next summer, but delays in land purchases delayed the start of construction. It is now expected to open by the end of next year.
Keystone offers to forgive CRC obligations to win bond
Keystone Realty is offering to let the cash-strapped Carmel Redevelopment Commission off the hook for $250K in promises if city officials approve a $3.8 million bond issue to help get its Olivia on Main project off the ground.
HDG Mansur owner files Chapter 11 bankruptcy
Harold Garrison filed the reorganization just as a trial was set to begin Monday over a $5.8 million judgment.
Supreme Court rejects appeal from Indiana on gay marriage
Justices turned away appeals from five states including Indiana seeking to prohibit same-sex marriage. The court’s order immediately ends delays on such marriages in those states but leaves the Constitutional question hanging.