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Recent wins worth $4B to Lilly market value

Lilly is finally putting meat on the bones of its predictions about its experimental diabetes and cancer drugs. That gives investors the certainty they crave that Lilly’s future revenue won’t remain in its 2014 doldrums.

People

Dr. Ingrid Mason, an internist, has been named vice chairwoman of the Office of the Chief Medical Officer, which oversees medical practice and quality at 22 hospitals around the state. She was previously president of the medical staff at St. Vincent Indianapolis Hospital. Mason earned a bachelor’s degree at Valparaiso University and received her medical degree from the Indiana University School of Medicine.

Dr. Lauren Ladd, a radiologist, has joined Eskenazi Health. She holds a bachelor’s in chemistry from Butler University and a medical degree from the IU School of Medicine.

Dr. Youssef Tahiri, a plastic surgeon, has joined Eskenazi Health. He earned his medical degree from McGill University in Quebec, Canada.

Dr. Peter Pang, an emergency physician, has joined Eskenazi Health. He received his bachelor’s from Brown University and his medical degree from the University of Texas-San Antonio.

Company news

The Community Health Network hospital system will purchase the Hilton Indianapolis North hotel along Interstate 69 and redevelop it as a facility for physicians and patients. The 221-room hotel sits on a nine-acre piece of land, adjacent to Community North Hospital, which is owned by the hospital’s foundation. The foundation has first-right-of-refusal to purchase the hotel from the current Hilton franchisee. The foundation announced Sept. 11 it would exercise that right, purchasing the hotel for an undisclosed amount. The hotel will continue to operate until the end of the year. “Community’s north region continues to expand its reach and needs the physical space to meet the growing demands of the marketplace,” said Joyce Irwin, president of the Community Health Network Foundation, in a written statement. “Opening up this prime area of real estate for health care services benefits the residents who live in the northern areas of central Indiana.” Community Hospital North opened in 1985 with 100 inpatient beds, emergency department and outpatient services. It has since expanded to include a 42-bed neonatal intensive care unit, a maternity unit with 60 private patient suites, a heart and vascular hospital, a rehabilitation hospital, and an oncology center.

Three years after its founding, Lafayette-based SpeechVive Inc. has launched its first product, a device intended to help people with a soft voice due to Parkinson's disease speak more loudly and communicate more effectively. Based on technology developed at Purdue University, the device is now available to try as a demo through the National Parkinson's Disease Foundation’s Centers of Excellence before purchasing. The technology was developed over the past decade by Jessica Huber, a professor in Purdue's Department of Speech, Language and Hearing Sciences. Huber co-founded SpeechVive in 2011 to bring the technology to market. According to SpeechVive, more than 1.5 million people in the United States are diagnosed with Parkinson's disease, and about 89 percent of those with the disease have voice-related change affecting how loudly they speak.

The Indiana State Department of Health and the University of Indianapolis Center for Aging & Community are offering $30,000 grants to as many as seven groups to use to improve the quality of nursing home care. The grants will be made to regional groups formed by health care facilities, provider associations, consumer advocacy groups and community organizations. The collaborative partners will work together to assess needs, design quality improvement plans and provide education and resources to nursing homes in their areas.

Commercial Real Estate Power Breakfast transcript

Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13.
Among the topics the panel discussed were the factors driving downtown growth, which types of office space are in demand, the types of projects being built, and how the industrial sector has sustained its strength.

Construction

-Capitol Construction has completed a 2,500-square-foot office build-out for Fully Armored at 755 W. Carmel Drive, Suite 150, Carmel.

-Capitol Construction has completed a 1,500-square-foot office build-out for Grand Financial at 1155 N. Meridian St., Carmel.

-Capitol Construction has completed a 4,000-square-foot office build-out for KE Labs at 3500 Depauw Blvd., Suite 1080.

-Kort Builders has completed a 7,800-square-foot build-out for Case Remodeling at 99 E. Carmel Drive, Carmel.

-Kort Builders has completed a 2,200-square-foot build-out for H2H Salon at Hamilton Town Center, 13185 Harrell Parkway, Suite 200, Noblesville.

People

Ross Goyer has joined Cornerstone Companies Inc. as vice president of development and property management.

Rates

The average rate for 30-year mortgages rose from 4.24 percent to 4.27 percent in the week ended Sept. 11, according to Bankrate.com. The rate for 15-year mortgages rose from 3.37 percent to 3.42 percent.

Leases/leasing contracts

-ACS Human Services LLC leased 40,204 square feet of office space at 4450 Victory Lane. The tenant was represented by Yumi Goodman of Colliers International. The landlord, Midway Corp., was represented by Russ Van Til and Jeff Henry of Cassidy Turley.

-Southern Wine & Spirits of America Inc. leased 25,201 square feet at 8888 Keystone Crossing.  The tenant was represented by Mike Semler of Cassidy Turley. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL.      
 
-The Indiana Annual Conference of the United Methodist Church Inc. leased 12,117 square feet at Meridian Corporate Plaza Two, 301 Pennsylvania Parkway, Carmel. The tenant was represented by Jon Owens of Cassidy Turley. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL.      

-Crown Castle USA Inc. leased 9,363 square feet of office space at 9045 River Road. The tenant was represented by Kimberly Estes Hartman and Tom Osborne of Colliers International. The landlord, Duke Realty Limited Partnership, was represented by Adam Seger of Duke Realty.

-Sitehawk Retail Real Estate leased 6,173 square feet of office space at 8500 Keystone Crossing. The landlord, PWA Keystone Crossing LP, was represented by Andrew Martin and Bennett Williams of Cassidy Turley. The tenant represented itself.

-Comprehensive Retirement Solutions LLC leased 4,865 square feet of office space at One Penn Mark, 11595 N. Meridian St., Carmel. The tenant was represented by Kevin Dick and Paul Dick of Colliers International. The landlord, TNHYIF Reiv Sierra LLC, was represented by Rick Trimpe and John Vandenbark of CBRE.
 
-rue21 renewed its lease for 4,685 square feet of retail space at 540-630 W. Northfield Drive, Brownsburg. The landlord, ATC Realty One LLC, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.

-Covideo leased 3,838 square feet on the third floor of 6235 N. Guilford Ave. The tenant was represented by Kelly Williams of Re/Max Ability Plus. The landlord, Monon Housing Partners, was represented by Jason S. Challand of Echelon Realty Advisors.

-Advanced Solutions Inc. leased 3,798 square feet at 8900 Keystone Crossing. The tenant was represented by Spud Dick of Cassidy Turley. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL.        

-St. Louis Group LLC leased 3,730 square feet at 8888 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Zito of JLL. The tenant represented itself.

Sales/acquisitions

-Taco Bell of America bought Lot 3 in Plainfield Park, 5030 Cambridge Way, Plainfield. The buyer was represented by John Byrne of Radar Commercial Real Estate. The seller, 267 Partners LLC, was represented by Jeff Hubley of Midland Atlantic Properties.

-Zevacor Molecular bought a 71,000-square-foot building at 14395 Bergen Blvd., Noblesville. The buyer was represented by Drew Augustin, Bryan Augustin and Brooke Sipe of Alliance Commercial Group. The seller, Westcore Delta LLC, was represented by Michael Weishaar and Luke Wessel of Cassidy Turley.

-Pharmakon Pharmaceuticals Inc. bought seven acres at Saxony Corp. Campus (Parcel Y), Noblesville. The buyer was represented by Brian Askins and Matt Waggoner of Cushman & Wakefield/Summit. The seller, Interstate Holdings LLC, was represented by Sean McKinnies of Republic Development.

-Oracle One LLC bought an 11,700-square-foot building at 5450 Rock Hampton Court. The seller, Tolson & Associates LLC, was represented by Steve Schaub of Cushman & Wakefield /Summit. The buyer represented itself.

Liquidation not needed, developer HDG Mansur tells court

Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7, saying significant progress has been made toward a plan and global settlement of claims.

Year wait expected for start of Wigwam work

The developer taking over Anderson's Wigwam gymnasium is expecting to start work at the complex in about a year. The group plans to convert part of the complex into 55 multifamily housing units while maintaining the gym.

S&P report: Stagnant incomes threaten Indiana revenues

Sales tax is Indiana’s largest source of revenue. But it is tied to consumer spending, and Americans have become increasingly reluctant to spend as median incomes have remained virtually stagnant over the past 30 years.

DCS struggles to keep accurate caseload tally

Indiana has hired more case workers to keep track of its most vulnerable residents. But complaints about overwork continue to surface as the state battles questions about the accuracy of data on caseloads.