Kokomo council backs ban on smoking in bars
The Kokomo City Council voted 5-4 Monday night to give initial approval to a ban on smoking in bars and social clubs.
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People
Jennifer Spritzer has joined the Carmel office of Keller Williams Commercial specializing in retail and investment properties.
School is open: Time to appreciate arts teachers
Little did I know that my music teacher was an accomplished composer and arranger. Little did I know I’d continue to be influenced by her decades after graduating.
Two HDG Mansur creditors seek liquidation of the firm
The firms claim in court filings that HDG Mansur has no hope of reorganizing under Chapter 11 and is stalling to avoid paying a $5.8 million judgment.
WISH, WNDY owner appoints new general manager
The owner of WISH-TV Channel 8 has named a well-traveled industry veteran to lead the Indianapolis station through what could be the biggest transition in its history.
CIRTA unveils commuter-bus schedule for Fishers, Carmel
Hamilton County commuters who ride the Indy Express Bus to and from downtown Indianapolis will have fewer departure options starting Sept. 2. A new schedule was released Monday afternoon.
Public-transit group hires latest executive director
Andrew Gast-Bray will become the fourth person to lead the Central Indiana Regional Transportation Authority since last August when he becomes executive director Sept. 1.
Patients, providers respond after Anthem promotes lower-cost MRI facilities
Anthem patients in five U.S. cities, including Indianapolis, spent $220 less per MRI scan after Anthem told them of lower-cost facilities. In response, hospital-owned MRI facilities cut their prices.
Leases/leasing contracts
-Aim Solutions leased 25,600 square feet at 7941-7997 Allison Ave. The tenant was represented by Brian Dell of Cushman & Wakefield/Summit. The landlord, ProLogis, was represented by Jason Speckman of Cushman & Wakefield/Summit.
-Artisanz Fabrication & Machine Co. leased an additional 13,200 square feet of industrial space at 2198 Reeves Road, Plainfield. The landlord, Damon and Patricia Jones, was represented by Patrick Lindley and Grant Lindley of Cassidy Turley. The tenant represented itself.
-Exact Target leased 5,957 square feet of retail space at 433 N. Capitol Ave. The tenant was represented by Jenna Barnett of Newmark Knight Frank Halakar. The landlord, OneAmerica Financial Partners, was represented by Jacque Haynes and Don Williams of Cassidy Turley.
-Dottie Couture Shipping leased 5,311 square feet at 1729 S. U.S. 31, Greenwood. The tenant was represented by Kyle Powell of NAI Meridian. The landlord, 1729 South US 31 LLC, was represented by Brian Dell of Cushman & Wakefield/Summit.
-Sipes Asphalt Solutions leased 4,800 square feet of industrial space at 1316 N. Capitol Ave. The landlord, LLR Realty LLC, was represented by Brian Dell of Cushman & Wakefield/Summit. The tenant represented itself.
-Three Chefs Corp. dba Dickey's BBQ leased 2,358 square feet of retail space at Fortune Plaza, 9655 E. U.S. 36, Avon. The tenant was represented by Bill Marsh of Colliers International. The landlord, Fortune Plaza Enterprise B LLC, was represented by Greg Smith of Colliers International.
-Creative Touch Interiors Inc. leased 2,347 square feet of industrial space at 9855 Crosspoint Blvd. The tenant was represented by Mark Writt of CBRE. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.
-Dr. Bryant Ponchot leased 1,686 square feet of retail space at 8802 S. Madison Ave. The landlord, Conrad Morris & Associates LLC, was represented by Greg Smith and Nate Smith of Colliers International. The tenant represented itself.
-Hammel Insurance Agency leased 1,600 square feet of retail space at 12656 E. 116th St., Fishers. The tenant was represented by Keith Dedrick of Corporate Commercial Group. The landlord, Brooks School Plaza LLC, was represented by Greg Smith of Colliers International.
-Jimmy John’s leased 1,535 square feet of retail space at 9893 N. Michigan Road, Carmel. The landlord, CASTO, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-Staff America Inc. leased 1,446 square feet of office space at 8465 Keystone Crossing. The tenant was represented by Kimberly Estes Hartman and Tom Osborne of Colliers International. The landlord, 8465 Associates LLC, was represented by Bill Montrie of Corporate Park Development Inc.
-Sweeties GT LLC leased 1,320 square feet of retail space at 2101 E. 62nd St. The tenant was represented by Ron Mannon of Lee & Associates. The landlord, McKee Realty Corp., was represented by Bill French of Cassidy Turley.
-Hair Passion leased 756 square feet of retail space at 8802 S. Madison Ave. The landlord, Conrad Morris & Associates LLC, was represented by Greg Smith and Nate Smith of Colliers International. The tenant represented itself.
Sales/acquisitions
-Andover North Developer LLC bought 52 acres at 18600 Shadynook Road. The seller, Westfield Lutheran Mission LLC, was represented by Michael P. Sloan of The Broadbent Co. The buyer represented itself.
-Daredevil Brewing Co. bought 1.6 acres at 1147 N. Main St., Speedway. The buyer was represented by John Byrne of Radar Commercial Real Estate. The seller, the Town of Speedway Department of Redevelopment, was represented by Michael Weishaar and Bill Flanary of Cassidy Turley.
-An affiliate of Barrat Asset Management bought the 60-unit Park Place at Fox Hill apartments at 1349 Saddlebrook Court. The buyer and seller, Fox Hill Apartments LLC, were represented by Michael H. Wernke of Colliers International.
Construction
-Kort Builders has completed a 25,000-square-foot build-out for Streetlinks at 451 Market St.
-Kort Builders has completed a 20,000-square-foot build-out for Surface Encounters at 7375 Company Drive.
-Capitol Construction has completed a 9,400-square-foot office build-out for McGuire Sponsel at 201 N. Illinois St.
-Capitol Construction has completed a 900-square-foot remodel for Starbucks at 55 Monument Circle.
Rates
The average rate for 30-year mortgages fell from 4.27 percent to 4.24 percent in the week ended Aug. 21, according to Bankrate.com. The rate for 15-year mortgages fell from 3.39 percent to 3.37 percent.
Correction
Indiana Premier Pharmacy leased 1,625 square feet at Fishers Town Center, 8395 E. 116th St., Fishers. The tenant was represented by Adam Olson of Charleston Real Estate. The landlord, The Broadbent Co., was represented by Brian Broadbent. In last week's Real Estate Weekly, the name of the tenant was incomplete and the tenant representative was omitted.
Franciscan cuts its way to higher profits
Franciscan Alliance, which operates three hospitals in the Indianapolis area, is seeing fewer patients this year but is making more money due to expense cuts.
S&P 500 sets all-time high in intraday trading
The index breached the 2,000-point barrier soon after markets opened on Monday, nearly hitting 2002 points around noon. The Dow also was near its high watermark.
Company news
Ohio-based Cardinal Health Inc. wants to open a $14.4 million drug-production facility that would employ 85 workers by 2017. A Cardinal subsidiary, Cardinal Health 414 LLC, produces a cancer treatment locally at a compounding center on Georgetown Road. The Indianapolis Department of Metropolitan Development said Cardinal wants to expand production of the medication by opening a second facility in an existing 64,000-square-foot warehouse at 4343 W. 62nd St. If the project goes forward locally, the company said it would spend $11.5 million to make the building suitable for pharmaceutical production and another $2.9 million in manufacturing and research equipment for the facility. Cardinal wants a tax abatement valued at $690,297 over 10 years. During that time, the company still would pay $648,169 in property taxes.
Consolidated Insurance Services Inc. has merged with Shepherd Insurance, creating an insurance agency with eight Indiana offices, 145 agents and more than 160 employees. Consolidated will now operate as Consolidated Shepherd Insurance, while Shepherd will maintain its name. Shepherd is based in Carmel and has offices in Noblesville, Greenfield, Columbus, Evansville and Seymour. The agency, which in recent years has bulked up its presence in health insurance, was founded in 1977 by Dave Shepherd, who won Indiana's Mr. Basketball award in 1970 while at Carmel High School. Consolidated, founded in 1932, is led by Rex Early, the former Republican state chairman and gubernatorial candidate.
Eli Lilly and Co. and a partner drugmaker won tentative regulatory approval for a once-a-day insulin that will compete with Lantus, the blockbuster insulin made by France-based Sanofi SA. Called Basaglar, the drug is approved for adults with type 2 diabetes and in combination with mealtime insulin for adults and children with type 1 diabetes. Lilly co-developed the drug with Germany-based Boehringer Ingelheim GmbH. The approval is tentative because of a claim of patent infringement filed by Sanofi. The U.S. Food and Drug Administration cannot give final approval of Basaglar until mid-2016, unless courts find in favor of Lilly earlier.
Eli Lilly and Co. will submit its experimental psoriasis drug for regulatory approval after the medicine helped six times as many patients participating in clinical trials completely clear up their skin irritations as an existing treatment. Lilly’s drug, ixekizumab, is in a race with two others to be first in a new class of psoriasis treatments to reach the market. Lilly expects to submit the drug to regulators—most likely in the United States, Europe and Japan—in the first half of 2015. The commercial prospects for ixekizumab are uncertain. Before Thursday’s announcements, Wall Street analysts expected the drug to fall short of $1 billion in annual sales by 2020. Switzerland-based Novartis AG already has submitted its drug for psoriasis to the FDA, and expects a decision as early as year’s end. California-based Amgen Inc. has partnered with United Kingdom-based Astra Zeneca plc on a new drug for psoriasis, but they have yet to complete late-stage testing.
People
Dr. William VanNess submitted his resignation last week as Indiana’s health commissioner, but plans to stay in his role until Gov. Mike Pence finds a replacement, according to the Associated Press. VanNess was appointed by Pence in January, a month after retiring as CEO of Community Hospital of Anderson.
Dr. Isra’a Khan, a pediatric hospitalist at Community Hospital North, has joined Community Physician Network. She received her medical degree at Dow Medical College in Karachi, Pakistan.
Suburban Health Organization named Dr. Craig Wilson chief medical officer. He will work to develop new ways for county-owned and not-for-profit hospitals in the organization to integrate their health care operations. Wilson previously served as chief medical officer of St. Vincent Fishers Hospital. He holds an undergraduate degree in medicine from the University of Queensland, Australia, and a master’s degree in health science from Duke University.
Two more charter schools in Indianapolis to close
ADI Schools Inc. on Friday announced plans to relinquish charters awarded to Andrew Academy and Padua Academy charter schools. Both schools were sponsored by Indianapolis Mayor Greg Ballard.
Purdue balks at use of its brand in panned film
Purdue University officials are asking their legal counsel to look into a new movie that makes frequent references to the school despite its refusal to grant permission to use official trademarks and logos.
New U.S. homes sales fall unexpectedly to 4-month low
Sales declined 2.4 percent in July, to a 412,000 annualized pace, the fewest since March and weaker than economist predictions.