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Construction

-Kort Builders has completed a 2,500-square-foot restaurant addition to the Ale Emporium at 8617 Allisonville Road.
    
-Kort Builders has completed a 13,000-square-foot build-out for Goody’s at 1818 State Road 44, Shelbyville.

Residential

The average rate for 30-year mortgages fell from 4.50 percent to 4.43 percent for the week ended Feb. 6, according to Bankrate.com. The rate for 15-year mortgages fell from 3.56 percent to 3.50 percent.

Leases/leasing contracts

-Arrow Container LLC leased 37,380 square feet of industrial space at 7535 Company Drive. The tenant was represented by Ryan Kelly of Summit Realty Group. The landlord, Panattoni Development Co., was represented by Luke Wessel and Grant Lindley of Cassidy Turley.

-Earth Fare Inc. leased 25,868 square feet of retail space at The Shoppes at County Line, 2110 E County Line Road. The tenant was represented by Christian Conville of Earth Fare Inc. The landlord, Gateway Arthur Inc., was represented by Beth Patterson and Greg Smith of Colliers International.

-Planet Fitness leased 12,690 square feet of retail space in Shadeland Station, 7451 N. Shadeland Ave. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, ZCOF TL Shadeland LLC, represented itself.

-Williams LTC Pharmacy LLC leased 8,068 square feet of office space at 11900 Exit Five Parkway, Fishers. The tenant was represented by Michael R Semler of Cassidy Turley. The landlord, Sunbeam Development Corp., was represented by Paul Dick and Kevin Dick of Colliers International.

-Metal Man LLC leased 5,756 square feet of industrial space in Post/33rd Business Park, 3250 N. Post Road. The tenant was represented by Stan Elser of Lee & Associates. The landlord, FII-MC4-IND-01 LLC, was represented by Bryan Poynter of Cassidy Turley.

-Spot King LLC leased 4,792 square feet of industrial space at 3919 Clarks Creek Road, Plainfield. The landlord, Boo Rob LLC, was represented by Michael Weishaar of Cassidy Turley. The tenant represented itself.

-Heartland Dental Care leased 3,147 square feet of industrial space at 9855 Crosspoint Blvd. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.

-CSC Covansys Corp. renewed its lease for 3,080 square feet at 1499 Windhorst Way, Greenwood. The tenant was represented by Jimmy Clark of Jones Lang LaSalle. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.

-Step by Step Pediatrics renewed its lease for 2,790 square feet of office space in Methodist Medical Plaza I at Eagle Highlands, 6920 Parkdale Place. The tenant was represented by Richard R. King III and Steve Beals of Lee & Associates.  The landlord, HTA–Medical Portfolio 3 LLC, was represented by Julia Schnepper of Healthcare Trust of America.

-Bento Box Cafe leased 2,500 square feet at Delaware Commons, 9778 E 116th St., Fishers. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Sunbeam Development Corp., was represented by Mark Perlstein of Sitehawk Retail Real Estate.

-Integrated Health Solutions Inc. leased 2,454 square feet of industrial space at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson Investment Group. The landlord, Henderson Global Investors (North America) Inc., was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Acoustic Imaging Solutions LLC leased 1,500 square feet of industrial space in Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.

Sales/acquisitions

-Huntington National Bank bought one acre at 6705 S. State Road 334, Zionsville. The buyer was represented by Scot Courtney and Bart Jackson of Lee & Associates. The seller, Duke Realty Corp., was represented by Jacque Haynes and John Byrne of Cassidy Turley.

-Guru Kirpa Real Estate LLC bought a 7,532-square-foot retail property at 666 E. 22nd St. The seller, The Calvary Temple Assembly of God Inc., was represented by Bill French of Cassidy Turley. The buyer represented itself.

-Redwood Acquisition LLC bought 26.26 acres at Anson in Zionsville/Whitestown. The buyer was represented by Bill Flanary of Cassidy Turley. The seller, Duke Realty Corp., was represented by Bo Leffel of Cassidy Turley.
 

Plan to cut business-equipment tax draws debate

Indiana House lawmakers took up a Senate proposal to cut business taxes on Monday, as fiscal leaders continued working behind the scenes to craft a compromise package of cuts this legislative session.

Election battles brewing in GOP-heavy Hamilton County

Fishers’ upcoming city election is generating most of the buzz in the circles I navigate north of 96th Street, but voters throughout Hamilton County have decisions to make at the polls this year. What races are you paying the most attention to this year?

Generous employer benefits now hurt some workers

Ever since World War 2, when employers started using health benefits to compete for workers, the less employees had to pay toward health insurance premiums the more attractive the benefits. But under Obamacare, this axiom will not always be true.

Company news

Carmel-based Mainstreet Property Group will open 24 more health care facilities for Hoosier seniors during this year and the next two years. Those facilities, in total, would create 3,000 permanent jobs for Hoosiers–if they’re allowed to be built. The Indiana General Assembly is mulling a five-year moratorium on the construction of skilled nursing facilities, which if passed would prevent Mainstreet from building any new facilities not already begun by June 30. That legislation, known as Senate Bill 173, has passed the Indiana Senate and now awaits a hearing in the Indiana House. Zeke Turner, CEO of Mainstreet, said that if Indiana enacts a construction moratorium, Mainstreet will simply build more facilities in other states. The company has existing facilities in eight states and is working to expand in six more. Mainstreet alarmed older nursing home companies by developing 10 new facilities in the past five years—and breaking an unwritten rule of the industry by building in competitors’ back yards. That prompted the Indiana Health Care Association and other long-term-care groups to call for a ban on new construction.

Purdue Research Foundation and Bloomington-based medical-device maker Cook Medical have created a $12 million fund intended to help life-science businesses with connections to Purdue University. The Foundry Investment Fund will try to work with other investors to provide funding for companies that use Purdue-licensed technology or Purdue’s expertise in human and animal health and plant sciences. It typically would provide a match to outside investors’ funds. Outside investors could include venture capital firms, corporations, angel funding groups, or qualified individuals.

Indiana University Health announced a deal with UnitedHealthcare on Feb. 6, ending a contract dispute that had pushed IU Health doctors and hospitals out of the health insurance company’s discounted network Jan. 1. The two-year agreement gives UnitedHealthcare discounted rates retroactive to Jan. 1. Such discounts, which insurers negotiate with hospital systems, reduce prices 30 percent or more. The dispute between Indianapolis-based IU Health and Minnesota-based UnitedHealthcare dates to 2012, when the sides could not agree on a new long-term contract. They instead extended their previous agreement by one year, to Dec. 31, 2013, but then could not come to terms before the end of the year.

Kite’s stock jumps following $1.2B acquisition

Kite Realty Group Trust’s pending purchase of an Oak Brook, Ill.-based rival would nearly double the company’s portfolio of shopping centers. It also would give the local firm a foothold in many new, highly desirable markets.

Visit Indy to map city’s strategy for tourism

The $178,000 study will answer key questions about how the city can better connect its highlights, attract and please business and leisure travelers, and hook up with corporate partners.

People

Indianapolis-based Healthx, which provides information technology services for health insurers and third-party administrators, named Mark Manning its CEO. He was previously head of the health care business unit at Massachusetts-based Pegasystems Inc. Before that, Manning held leadership roles at Solucient LLC, The Codman Research Group and Blue Cross Blue Shield of Massachusetts. Manning holds a master’s degree in business administration-healthcare administration from the University of Massachusetts and an undergraduate degree in engineering, mathematics and business administration from the University of Vermont.