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Fort Wayne schools sued over vacant building

A state charter school association is suing the Fort Wayne Community Schools to keep it from deeding a vacant building to the Fort Wayne-Allen County Airport Authority.

Most stage collapse claimants accept offers

The state Attorney General's Office said Monday that 64 of the 65 claimants accepted the settlements totaling $5 million, the maximum under Indiana law.

Construction

-Meyer Najem Construction has been hired to build the Westfield Grand Park Sports Complex at State Road 32 and U.S. 31. Construction of the 350-acre indoor/outdoor facility has started and is scheduled to be completed in the summer of 2013.

-Capitol Construction completed a 31,400-square-foot build-out for Belden at 401 N. Pennsylvania Parkway, Carmel.

-Capitol Construction completed a 4,000-square-foot build out for Watermark at 5875 Castle Creek Parkway.

Residential

The average rate for 30-year mortgages fell from 4.20 percent to 4.19 percent for the week ended Dec. 14, according to Bankrate.com. The rate for 15-year mortgages fell from 3.48 percent to 3.42 percent.

Leases/leasing contracts

-River Bend Hose Specialty Inc. leased 22,934 square feet of industrial space at 7692-7698 N. Zionsville Road. The tenant was represented by Jake Sturman of Jones Lang LaSalle. The landlord, Vigran Brothers, was represented by Michael Weishaar and Fritz Kauffman of Cassidy Turley.

-Wells Fargo Bank NA leased 17,218 square feet at 300 N. Meridian St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, University Park Associates LLC, was represented by Mike Napariu of REI Real Estate Services LLC.

-Unclaimed Furniture & Mattress renewed its lease for 15,600 square feet of retail space in Esquire Plaza, 8311 Pendleton Pike. The tenant and landlord, Sandor Development, represented themselves.

-BC Forward leased 12,502 square feet of office space at 10 W. Market St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, MT Acquisitions LLC, was represented by Dave Moore, Darrin Boyd, Andy Martin and Bennett Williams of Cassidy Turley.

-Tecnoplast USA LLC leased a 8,760-square-foot building at 4035 Perry Blvd., Whitestown.  The tenant was represented by Tammy V. Kelly of Re/Max Ability Plus Commercial Division.  The landlord, WF Industrial Properties I LLC, was represented by Patrick Lindley of Cassidy Turley.

-Royal Beauty Supply renewed its lease for 8,250 square feet of retail space in Eagledale Plaza, 2802 N. Lafayette Road, No. 32. The tenant and landlord, Sandor Development, represented themselves.

-Bath & Body Works renewed its lease for 4,400 square feet of retail space in College Park, 3325 W. 86th St, Unit F. The tenant and landlord, Sandor Development, represented themselves.

-RadioShack renewed its lease for 3,080 square feet of retail space in Dori Plaza, 8311 E. Washington St. The tenant and landlord, Sandor Development, represented themselves.

-Monarch Management and Realty Inc. leased 2,756 square feet of office space at 3003 E. 98th St. The tenant was represented by Darrell Pike of Pike Real Estate. The landlord, TW Investments LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.

-The Central Indiana Regional Transit Authority leased 2,044 square feet of office space at 320 N. Meridian St. The tenant was represented by Pete Anderson of Cassidy Turley. The landlord, Chamber of Commerce Building Corp., was represented by Bo Elder of Chamber of Commerce Building Corp.

-My-Bio leased 1,754 square feet at Sycamore Springs Office Park, 4725 Statesman Drive. The tenant was represented by Ashley Bussell of Newmark Knight Frank Halakar. The landlord, MSE Realty LLC, was represented by Ralph Balber of Newmark Knight Frank Halakar.

-Dr. Tavel renewed its lease for 1,600 square feet of retail space in Indy Pavilions, 7035 E. 96th St, Unit L. The tenant and landlord, Sandor Development, represented themselves.

-Chromatics Gallery LLC leased 1,600 square feet at 1233 W. Oak St., Zionsville.  The landlord, Oak Center LLC, was represented by Tammy V. Kelly of Re/Max Ability Plus Commercial Division.  The tenant represented itself.

-Orange Leaf Frozen Yogurt leased 1,554 square feet at Rivers Edge Shopping Center, 4026 E. 82nd St. The tenant was represented by Kevin Gillihan of Jones Lang LaSalle. The landlord, KRG Rivers Edge LLC, was represented by Jeff Wright of Kite Realty Group.  

-Games Workshop leased 1,438 square feet at Willow Lake East, 2502 Lake Circle Drive. The tenant was represented by Patrick Boyle of Midland Atlantic.
The landlord, USRP Willow East LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.

-US Communications renewed its lease for 1,380 square feet of retail space in Eagledale Plaza, 2802 N. Lafayette Road, No. 31-A. The tenant and landlord, Sandor Development, represented themselves.

Sales/acquisitions

-Laco Properties LP bought 112 units of multi-family housing in buildings at 3360 N. Meridian St., 3537-43 N. Pennsylvania St. and 842 N. Capitol Ave. The price wasn’t disclosed. The buyer was represented by Gary Merritt of Whitsett Group. The seller, Laco Towne Club Apartments I, was represented by Scott Pollom of Cassidy Turley.

-Lynhurst Investments LLC bought a 2,289-square-foot retail property at 5224 W. Southern Ave. The price wasn’t disclosed. The buyer was represented by Jeff Daniel of Commercial Concepts Realty LLC. The seller, GE Capital, was represented by Allison Tiefel of Cassidy Turley.

Hoosiers like parts of health reform law

As it is in the rest of the country, the 2010 health reform in Indiana continues to be unpopular, unlikely to be repealed and uncertain to put a dent in health spending, according to a poll of Hoosiers released last week by Ball State University.

Company news

The Warsaw-based makers of orthopedic implants could be hurt by a new plan floated by the Centers for Medicare & Medicaid Services to target "unnecessary" medical device claims, according to the trade publication MassDevice. Medicare officials will ask doctors to provide up-front justification for certain medical equipment, especially for orthopedic and cardiac devices. The program, set to launch in 11 states next month, will flip the reimbursement system from the agency's existing "pay-and-chase" method of looking for improper payments after they've already been made. It’s more bad news for orthopedics companies—including Warsaw’s Zimmer Holdings Inc., Biomet Inc. and DePuy Orthopaedics Inc. They have already been hurt by the recession and high unemployment, as jobless patients have put off elective surgeries. The companies are also bracing for a new industry tax instituted by the 2010 health care overhaul.

Batesville-based Hill-Rom Holdings Inc. has agreed to acquire Germany-based Volker Group for $85 million in cash, pending regulatory approvals. Volker makes bed frames and other furniture for long-term care and hospital facilities. The company, which sells mainly in Europe and other foreign markets, had 2010 revenue of roughly $100 million. Hill-Rom also makes hospital beds and other equipment, as well as provides information technology components to enhance the performance of its products. Hill-Rom said Volker’s business would strengthen its product offerings in Europe, and would boost its 2012 earnings by 2 cents or 3 cents per share. The transaction is expected to close within the first quarter of 2012.

Shares of Endocyte Inc. plummeted nearly 70 percent after clinical trial results announced Dec. 13 showed the company’s experimental ovarian cancer drug led to shorter overall survival times than treatment with a standard cancer drug. Some analysts called the sell-off an overreaction, but shares of the West Lafayette-based company remained depressed nearly a week after the news. Endocyte officials stressed that the study of the drug EC145 did not include enough patients to be statistically meaningful in terms of overall survival. Also, they noted that survival rates for patients taking standard therapy were several months longer than seen in any other study. Previous clinical trial results released by Endocyte have shown that EC145 significantly increases the length of progression-free survival for ovarian cancer patients who have cancers that are resistant to treatment with common platinum-based drugs. Investors, however, assumed the worst. In the Phase 2 trial results reported Dec. 13, patients taking EC145 with the cancer drug Doxil survived a median length of 14.1 months, which was longer than in any previous study of the drug. But patients taking Doxil alone experienced median survival rates of 16.9 months.

Indianapolis-based WellPoint Inc. is feuding with St. Louis-based pharmacy benefits manager Express Scripts Inc., according to the Associated Press. Express Scripts said WellPoint, the second-largest health insurer in the nation, has raised the possibility of filing a lawsuit over contract terms and Express Scripts’ performance under that contract. But Express Scripts officials also said the companies are negotiating, and they believe they can resolve the dispute. WellPoint is disputing the implementation of some terms of the contract and "certain operational matters associated with Express Scripts' performance" under those terms. The contract between the companies went into effect on Dec. 1, 2009, after WellPoint sold its pharmacy benefit management business to Express Scripts.

People

The Indiana Health Information Exchange Inc. appointed Dr. Josh Nelson as its chief medical officer. He will discuss medical issues with customers and stakeholders of IHIE, a not-for-profit organization that provides access to patient medical records and data from those records. Previously, Nelson was a physician executive fellow at Indianapolis-based WellPoint Inc. He holds a business degree from the University of Pennsylvania, a law degree from the University of California at Berkeley and a medical degree from UC-Davis. Nelson began his medical career as a hospitalist at the California-based Kaiser Permanente health system.

Dr. Sonal Bazeley recently joined Anesthesia Consultants of Indianapolis LLC, which now has nine physicians. Bazeley previously practiced in Lansing, Mich. She did her medical training at the Medical College of Ohio in Toledo.

Colts win streak could set team back a decade

There has been much hand-wringing about what the Indianapolis Colts would do with Peyton Manning and Andrew Luck on their roster. If they win another game or two, they'll have a much bigger dilemma.

Neighborhood eyesore headed for demolition

The city is soliciting bids from companies to tear down four buildings on the 16-acre Avanti Development Corp. property, which is tucked in a residential area a few miles west of downtown Indianapolis.

Excise police raid east-side homes

Indiana State Excise Police officers served search warrants at two Indianapolis homes Sunday morning, looking for evidence of illegal alcohol sales. Investigators said they found 543 bottles and cans of alcohol, an undisclosed amount of cash and more than 11 pounds of marijuana with a street value of $30,000 to $50,000. Authorities also seized a handgun, two vehicles and three refrigerators. The raids were the result of an investigation into illegal alcohol sales at 2445 N. Arsenal Ave. and 2449 N. Arsenal Ave. Undercover officers made several liquor purchases during their probe, and police are pursuing charges against three individuals.

Friend arrested in Cumberland killings

Two people were charged with murder Sunday in the Dec. 12 shooting deaths of 7-year-old Kyleigh Crane and her 21-year-old uncle, Jeremy Crane. Cumberland police arrested 22-year-old Michael Bell, a friend of the older victim, after he turned himself in. Detectives also charged 25-year-old Jeremy Priel, but did not release details about the crime or a motive. Jeremy Crane and Bell played football together at Warren Central High School, and Bell lived with the Crane family in their Woodlark Drive home until about a month ago. Family members said they do not know Priel.

North Korea’s Kim Jong-il dies at 69

North Koreans poured into the streets Monday to mourn the death of Kim Jong-il as state media hailed his untested son as the "Great Successor" of the reclusive state whose atomic weapons ambitions are a major threat to the region. Earlier, a tearful North Korean television announcer said the 69-year old ruler died on Saturday of "physical and mental over-work." Kim assumed the leadership of the totalitarian state in 1994, taking over from his father Kim Il-sung. He will be laid to rest next to his father Dec. 28. News agency KCNA lauded Kim's youngest son, Kim Jong-un, as "the outstanding leader of our party, army and people," but there was uncertainty about how much support he has among the ruling elite, especially in the military.

Local judge to rule on school vouchers

An Indianapolis judge says he'll decide within 30 days whether Indiana's sweeping new school voucher law violates the state's constitution.

New ban on texting while driving yields few tickets

In its first five months on the books, Indiana's texting-while-driving ban has led to only a few dozen citations by state troopers—a trend police blame on restrictions in the law that make it difficult for them to enforce.