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Residential

The average rate for 30-year mortgages rose from 4.51 percent to 4.54 percent in the week ended April 3, according to Bankrate.com. The rate for 15-year mortgages rose from 3.56 percent to 3.58 percent.

Leases/leasing contracts

-Spartan Logistics leased 243,200 square feet of industrial space at Prologis Park 100 Building 22, 5645 W. 82nd St. The tenant was represented by Dallas Paul of Industrial Developers Ltd. The landlord, Prologis, was represented by Brian Seitz and Jake Sturman of JLL.

-Dollar Tree leased 10,200 square feet of retail space in Walmart Plaza, 2239 N. Morton St., Franklin. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Fifth Third Bank renewed its lease for 3,200 square feet of retail space in Eagledale Plaza, 2802 N. Lafayette Road. The landlord, Sandor Development, was represented by Lloyd Otani of Sandor. The tenant represented itself.

-Avalon Group renewed its lease for 2,768 square feet at The Precedent Office Park, 9225 Priority Way West Drive. The landlord, Pace-Keystone Associates LLC, was represented by Kim Hartman and Tom Osborne of Colliers International. The tenant represented itself.

-LPL Financial LLC leased 2,489 square feet of office space at 8465 Keystone Crossing. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, Corporate Park Development Inc., represented itself.

-Indiana State University Foundation Inc. leased 2,477 square feet of office space at 101 W. Ohio St. The tenant was represented by Jon Owens of Cassidy Turley. The landlord, West Ohio II LLC, was represented by Renae Breitbach of Amerimar.

-Sally Beauty renewed its lease for 2,000 square feet of retail space in Cherry Tree Plaza, 9709 E. Washington St. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-Wingstop Indy LLC leased 1,709 square feet of retail space at 7411 N. Keystone Ave. The tenant was represented by Beth Patterson of Colliers International. The landlord, Heidner Property Management Co. Inc., represented itself.

-Sally Beauty renewed its lease for 1,605 square feet of retail space in College Park Plaza, 3443 W. 86th St. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-York Risk Services Group Inc. leased 1,550 square feet in Fidelity Keystone Office Tower, 650 E. Carmel Drive, Carmel. The tenant was represented by Mohr Partners. The landlord, Network Capitol LLC, was represented by Ashley Bussell and Ralph Balber of Newmark Knight Frank Halakar.

-Indy C's LLC leased 1,530 square feet of retail space at 10777 E. Washington St. The tenant was represented by Seth Biggerstaff of Veritas Realty LLC. The landlord, Indiana Properties Group LLC, was represented by Jacque Haynes of Cassidy Turley.

-Gamestop renewed its lease for 1,500 square feet of retail space in College Park Plaza, 3269 W. 86th St. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-Watson CPA LLC leased 1,076 square feet at Fidelity Keystone Office Tower, 650 E. Carmel Drive, Carmel. The landlord, Network Capitol LLC, was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar. The tenant represented itself.

-Troutman's Barber & Beauty Salon leased 1,037 square feet of retail space at Lafayette Center, 4233 Lafayette Road. The tenant was represented by Lisa Ruscetti of Evolution Development Group LLC. The landlord, Lafayette Center LLC, was represented by Greg Smith and Bill Marsh of Colliers International.

Sales/acquisitions

-Ossip Real Estate bought a 41,121-square-foot office building at Crosspoint IV, 9795 Crosspoint Blvd. The buyer was represented by Jacque Haynes and Bennett Williams of Cassidy Turley. The seller, OldOhio LLC, was represented by Jon Owens and Russ Van Til of Cassidy Turley.

-Youngsmith Properties LLC bought a 12,000-square-foot office property at 5455 Harrison Park Lane. The buyer was represented by Mike Kensill of Lee & Associates. The seller, Ossip Real Estate LLC, was represented by Jacque Haynes and Bennett Williams of Cassidy Turley.

-Garners Towing bought a 2,400-square-foot office building at 411 S. Ritter Ave. The buyer was represented by RE/MAX Real Estate Group. The seller, Alpha Kappa, was represented by Keith Turnbill of RE/MAX Select Commercial Division.

-EMK Property Investors bought the 209-unite Villa Paree apartments at 6111 Allisonville Road. The seller, Villa Paree LLC, was represented by Tikijian Associates. The buyer represented itself.

Revamped hotel key to Muncie revitalization efforts

The 91-year-old Roberts Hotel building has undergone a $17 million renovation that created the 83-unit Lofts at Roberts development. The project was crucial to the city’s ability to attract a new downtown hotel.

Lilly ordered to pay $3 billion in Actos damages

Takeda Pharmaceutical Co. and Eli Lilly and Co. were ordered to pay a combined $9 billion after a federal court jury found they hid the cancer risks of their Actos diabetes medicine in the first U.S. trial of its kind.

Bennett campaign ethics hearing further delayed

Former Indiana Schools Superintendent Tony Bennett's hearing over charges that he violated state ethics laws was moved Monday to August as defense attorneys review thousands of pages of evidence turned over by the state inspector general.

Lilly shares hit all-time high for the John Lechleiter era

Court win last week in a patent challenge to lung cancer drug Alimta pushed Lilly shares higher than they’ve ever been since April 2007. Since then, the company’s pipeline has produced more misfires than the villains in a James Bond movie

Company news

If Indiana hospitals want an expansion of insurance coverage for low-income Hoosiers, Gov. Mike Pence thinks they should contribute toward the hundreds of millions of dollars it would cost. The Pence administration has started discussions with hospital leaders to use an existing program known as the Hospital Assessment Fee to generate money to help the state cover costs it would incur under an expansion of health coverage to as many as 400,000 Hoosiers. That expansion, called for by President Obama’s Affordable Care Act, did not happen in Indiana this year, as it did in 26 other states, in large part due to Pence’s concerns about the fiscal impact on the state. The health insurance expansion would be paid for entirely by the federal government in 2015 and 2016, but then require state contributions that could rise to $393 million per year by 2020, according to estimates by the actuarial firm Milliman Inc. Other elements of Obamacare are estimated to cost state government $123 million per year by 2020. The Hospital Assessment Fee effectively taxes hospitals to provide the state government with the funds needed to raise its reimbursement rates for Medicaid patients. When the state does that, the federal government increases its 2-for-1 matching funds to support the Indiana Medicaid program. Hospitals end up getting twice as much in new revenue as they pay out in assessments. Doug Leonard, president of the Indiana Hospital Association, said hospitals are open to Pence’s approach, but are waiting until the idea is fleshed out and numbers are attached.

Indiana University Health was chosen by a Wisconsin hospital system to provide heart and aorta surgeries there after surgeons the hospital system had been using were employed by a competing provider. Wisconsin-based ProHealth Care will pay the salaries of the three IU Health surgeons who will work in ProHealth’s Waukesha Memorial Hospital, which is midway between Milwaukee and Madison. ProHealth performs more than 400 cardiothoracic surgeries each year. IU Health performs more than 1,900 cardiothoracic surgeries at its 19 hospitals in Indiana. “The goal for the two health systems is to collaborate to establish and oversee a premier surgery program in Waukesha that will incorporate the clinical protocols, care pathways and quality metrics that have been the foundation of IU Health’s nationally ranked cardiovascular program,” IU Health spokesman Gene Ford said in an email. IU Health said it would evaluate similar opportunities, but stopped short of saying it is making out-of-state partnerships a business strategy.

Eli Lilly and Co. is in a three-way race to introduce a new kind of breast cancer drug, which at least one analyst thinks could become a $6 billion-a-year blockbuster. According to Bloomberg News, Indianapolis-based Lilly, New York-based Pfizer Inc. and Switzerland-based Novartis AG all presented data on Sunday about experimental drugs that stopped growth of breast cancer tumors. Pfizer’s drug, palbociclib, stopped tumor growth for 20.2 months in advanced forms of hormone-related breast cancer, twice the time seen with an older therapy by itself. Lilly’s bemaciclib stopped tumor growth for an average of 9.1 months. Doctors told Bloomberg that the new class of drugs, called CDK inhibitors, offers the first major new therapy in a decade for patients whose breast cancer fails to respond to other treatments. Mark Schoenebaum, an ISI Group analyst in New York, predicted Pfizer’s drug could generate peak sales of $6 billion a year.

Indiana Attorney General Greg Zoeller filed Medicaid fraud charges April 2 against Sally Metzner, 57, owner of Anderson Dental Center, and eight of her employees. According to the Associated Press, the charges allege Metzner and her employees started a scheme in 2006 to submit false and inflated claims for payment of dental services to the Indiana Medicaid program, sometimes using forged documents, to receive more than $300,000 in ineligible Medicaid payments. The allegedly fraudulent billing continued even after state, federal and local authorities executed the first of three search warrants at the clinic, the attorney general's office said. For example, instead of billing Medicaid $30 for the routine use of the anesthesia nitrous oxide, the practice allegedly billed it as a $125 intravenous procedure known as "deep sedation.”

Lessons learned in the northern ‘burbs

IBJ’s experiment with place-based business news couldn’t have come at a better time—just as the fast-growing communities north of 96th Street began to emerge from the depths of the recession and look to the future.

People

Dr. Martha Dwenger joined Northwest Radiology Network on April 1. Dwenger previously worked for Columbus Radiology, Columbus Diagnostic Imaging, and as contract radiologist for Northwest Radiology since 2006. She earned a bachelor’s degree at Indiana State University and did her medical training at the Indiana University School of Medicine.

Indianapolis-based consulting organization YourEncore has hired Dr. Tim Franson as its chief medical officer. Most recently, Franson was a principal in the health and biosciences practice at FaegreBD Consulting. Franson will continue at Faegre BD until mid-May, when the firm will form an alliance with YourEncore to provide consulting services to life sciences clients. Prior to joining FaegreBD, Franson worked at Eli Lilly and Co. for more than 20 years, where he served as vice president of global regulatory affairs and patient safety, and led Lilly’s U.S. clinical research and trials organization.

Rhonda Deluise, a registered nurse, has been appointed director of quality and support services at Franciscan Visiting Nurse Service, where she has been a manager the past five years. Before joining Franciscan VNS, Deluise was vice president of patient care services for Howard Regional Health System in Kokomo. Deluise received her associate and bachelor degrees in nursing from Indiana University.