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In with the new in Indiana

February 27, 2012

Every year, there’s something new and different at Indiana attractions. Here’s our rundown of some of the changes you’ll find as you explore options for an in-state getaway.

Construction

February 27, 2012

-Capitol Construction has completed a 6,900-square-foot office build-out for Carson Design at 9229 Delegates Row.

-Capitol Construction has completed a 17,000-square-foot office build-out for T2 Systems at 8900 Keystone Crossing.

How to score a seat in a studio audience

February 27, 2012

Did Jimmy Fallon's "Late Night" tapings at Hilbert Circle Theatre during Super Bowl week make you want to be a part of other studio audiences? Here are some tips on scoring seats in Chicago, New York and L.A.

People

February 27, 2012

Rob Lukemeyer III has been named executive vice president of Baseline Inc.

Residential

February 27, 2012

The average rate for 30-year mortgages rose from 4.1 percent to 4.16 percent for the week ended Feb. 22, according to Bankrate.com. The rate for 15-year mortgages increased from 3.35 percent to 3.38 percent.

Leases/leasing contracts

February 27, 2012

-DZ Investments renewed its lease for 135,451 square feet in Franklin Road Business Center, 3131 N. Franklin Road. The landlord, Duke Realty, was represented by Duke’s Jay Archer. The tenant represented itself.

-Salvation Army leased 18,000 square feet at County Line Corners, 1285 N. State Road 135, Greenwood. The tenant was represented by Pat Boyle of Midland Atlantic Properties. The landlord, Friedman Management Co., was represented by Roger Curry of Presnell Cos.

-Amerisure Insurance leased 9,374 square feet in Three Parkwood, 450 E. 96th St. The tenant was represented by Tim Norton of Summit Realty Group. The landlord, Duke Realty, was represented by Duke’s Traci Kapsalis.

-National Conference of Insurance Guaranty Funds renewed its lease for 5,400 square feet at 300 N. Meridian St. The tenant was represented by Adam Broderick and Graham Summers of Jones Lang LaSalle. The landlord, University Park Associates LLC, was represented by Mike Napariu of REI Real Estate Services LLC.

-American Teleservices Association Inc. leased 2,930 square feet of office space at 8500 Keystone Crossing. The tenant was represented by Paul Dick and Kevin Dick of Colliers International. The landlord, PWA Keystone Crossing LP, was represented by Bennett Williams of Cassidy Turley.

-School of Rock leased 2,850 square feet at Mohawk Place Shopping Center, 626-628 S. Rangeline Road, Carmel. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Mohawk LP, represented itself.

-El Maguey Mexican Restaurant renewed its lease for 2,800 square feet of retail space in River Ridge Plaza, 2038 S. Scatterfield Road, Anderson. The landlord was represented by Sandor Development. The tenant represented itself.

-Radio Shack renewed its lease for 2,500 square feet of retail space in Honey Creek Plaza, 5418 W. 38th St. The landlord was represented by Sandor Development. The tenant represented itself.

-Delhi Palace Restaurant leased 1,966 square feet at Lockefield Commons, 901-921 Indiana Ave. The landlord, Lockefield Commons Limited Partnership, was represented by Mark Perlstein of Sitehawk Retail Real Estate. The tenant represented itself.
 
-The National Foundation for Special Needs Integrity Inc. leased 1,632 square feet of office space at Carmel Office Court, 301 E. Carmel Drive, Carmel. The tenant was represented by Craig Kaiser of Northern Commercial. The landlord, Carmel-301 LLC, was represented by Paul Dick and Kevin Dick of Colliers International.

-Tri Star Filtration Inc. leased 1,200 square feet of industrial space at 5303 5331 W. 86th St. The landlord, Forester Properties Inc., was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.  
 
-Solace Risk Management LLC has leased 981 square feet of office space at 5455 W 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.

Sales/acquisitions

February 27, 2012

-Boo Rob LLC bought 4.48 acres of land on Metropolis Parkway, Plainfield. The price wasn’t disclosed. The buyer was represented by Michael Weishaar of Cassidy Turley. The seller, PK Plainfield Partners, was represented by Patrick Lindley of Cassidy Turley.

-American Building LP bought a 75,254-square-foot office building at 333 N. Pennsylvania St. The price wasn’t disclosed. The seller, Gannett Co. Inc., was represented by Mary Beth Kohart. The buyer represented itself.

PGA exec outlines course for golf resurgence

February 27, 2012

Developing new players should be top priority if sport wants to emerge from long downturn, official says

Q&A

February 27, 2012

Threats to cut federal Medicare funds that pay for residency training for doctors have eased but not gone away since they were formally proposed by some members of the Congressional super committee last fall. Dr. Peter Nalin, the associate dean of graduate medical education at the Indiana University School of Medicine, said such cuts would be disastrous at a time when patient demands increasingly outstrip the supply of physicians.

Company news

February 27, 2012

Eli Lilly and Co. plans to invest about $440 million in a new drug plant at an existing company site in southern Ireland, according to Bloomberg News. The new facility in Kinsale in County Cork will require as many as 200 skilled employees when fully operational, according to a statement on economic development organization IDA Ireland's website. Indianapolis-based Lilly will begin construction on the 240,000-square-foot manufacturing facility next month and plans to have it operational by late 2013, according to the Belfast Telegraph. Lilly already employs about 700 people at four sites in Ireland. Its first plant in the country opened in 1981. The company opened the Kinsale campus in 2010 after announcing it would spend about $360 million on the project. The existing Kinsale facility manufactures active ingredients in treatments for cancer and diabetes. Lilly employs about 38,000 people worldwide.

As expected, SynCare LLC has filed for Chapter 7 bankruptcy protection. The once fast-growing, Indianapolis-based disease-management company listed in court papers liabilities of nearly $5.7 million and assets of just $125,864. The company’s decline pushed CEO Stephanie DeKemper into personal bankruptcy in late December, with the company itself expected to follow. SynCare’s largest secured creditors include Fifth Third Bank, which provided two loans totaling $850,000 to the company. Unsecured creditors include Bank of America, with a claim totaling $676,964, and Centene Corp. in St. Louis, which provided SynCare a loan totaling nearly $1.5 million. SynCare effectively ceased operation in September after it withdrew from a major contract it had with the Missouri Medicaid program. Also earlier last year, Centene—which was both a client and a lender to SynCare—stopped funding the company’s operations. SynCare used nurses and social workers to call and visit Medicaid patients to evaluate their needs and teach them how to handle their health issues, in order to avoid expensive hospitalizations.

Profit at CNO Financial Group Inc. was flat in the fourth quarter, but the Carmel-based life and health insurer still beat analysts’ predictions. CNO Financial announced Feb. 22 that it earned $73 million, or 26 cents per diluted share, in the three months ended Dec. 31. In the same quarter a year ago, the company earned $168.2 million—of which $95 million was one-time gain from an accounting adjustment. Excluding investment gains, CNO’s operations generated $60.1 million, or 22 cents per share, in its most recent quarter. On that basis, Wall Street analysts were expecting CNO to earn 19 cents per share in the quarter, according to a survey by Thomson Reuters. CNO’s revenue totaled $1.05 billion in the fourth quarter. That was 2 percent lower than the same quarter last year, driven by lower investment gains and income. Analysts were expecting only $1.01 billion in revenue.

People

February 27, 2012

FirstPerson named Katy Stowers as adviser and general counsel, leading the Indianapolis-bsed benefits firm’s compliance services area. Stowers previously served as an employee benefits attorney at Indianapolis-based Krieg DeVault LLP. Stowers earned her law degree from the Indiana University School of Law in Indianapolis in 1993.

Indianapolis-based Wellfount Corp. named Eric Orme its chief financial officer. He previously served as chief operating officer of Indianapolis-based AIT Laboratories and before that worked for Boston Scientific Corp. Orme holds a bachelors degree in economics and an MBA from Indiana University.

Norm Tabler, the general counsel of Indianapolis-based hospital system Indiana University Health, said he will retire Dec. 31. Perhaps most widely known for his deep voice and deadpan delivery on fundraising campaigns for local public radio station WFYI -FM 90.1, Tabler has worked for IU Health (formerly known as Clarian Health) for nearly 16 years. Before that he worked for 25 years at Indianapolis law firm Baker & Daniels LLP. Tabler holds a bachelor’s degree from Princeton University, a master’s degree from Yale University and a law degree from Columbia University.

Franciscan to mark Beech Grove closure

February 27, 2012

Franciscan St. Francis Health announced five years ago that it would consolidate its Beech Grove operations into an expanded hospital seven miles south, near Interstate 65 and Emerson Avenue. The last inpatient department to close at Beech Grove will be its emergency room, on March 16.

Police plan crackdown on drunk driving

February 27, 2012

Police throughout Indiana are gearing up for a crackdown on drunken driving. More than 250 law-enforcement agencies are expected to take part in the effort that begins Friday and runs through March 18. State police say the stepped-up patrols could include saturation patrols and sobriety checkpoints. Motorists also will see an increased number of patrols looking for aggressive drivers and unrestrained motorists during the 17-day mobilization.
 

Two bodies found in parking lot

February 27, 2012

Police say two people found dead from apparent gunshot wounds inside a van parked outside a south-side business likely died in a murder-suicide. The bodies of the middle-age male and a middle-age female were found Monday morning outside Independent Concrete Pipe Corp. in the 2000 block of South Harding Street. The shootings likely occurred between 4 a.m. and 8 a.m.  
 

Stolen van, child recovered

February 27, 2012

Indianapolis police located a van stolen Monday morning from a south-side home day care with a 1-year-old girl inside. The child was uninjured. Police said the van was taken from the day care on St. Joe Drive at about 7:25 a.m. It was recovered shortly after 9 a.m. near South Lynhurst Drive and West Troy Avenue. The girl’s mother was taking her son into the day care and returning for the girl when the van was taken.

Indiana 3rd-graders prepare for new reading test

February 27, 2012

Indiana's third-graders are gearing up for a new state reading test that could determine whether they can move on to the fourth grade.

Speedway’s plan for roundabout hits snag over billboard

February 27, 2012

The Speedway Redevelopment Commission is threatening eminent domain against Clear Channel Outdoor Inc. because the billboard company won’t relinquish its lease rights at a key intersection.

Study: Indy hospitals charge ‘excess’ prices

February 27, 2012

The Big 3 automakers spent 35 percent more in the Indianapolis area to provide health care for workers and non-elderly retirees than they did in other auto-heavy cities—and two-thirds of that difference can be blamed on “excess prices” by Indianapolis hospitals.

Lilly plans 200 jobs at new $440M Ireland plant

February 27, 2012

Eli Lilly and Co. plans to invest about $440 million in a new pharmaceutical plant at an existing company site in County Cork in southern Ireland. The facility in Kinsale will require as many as 200 skilled employees when fully operational.

Office-supply standby Arvey Paper set to close

February 27, 2012

One of the city's most popular spots to buy paper and office supplies is scheduled to close next month as part of a nationwide consolidation by its parent company.

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