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Articles
Potential visitors eye Indianapolis attractions
Focus groups in Chicago, Louisville and St. Louis reacted strongly to photos of local tourism offerings like the Central Canal and the Artsgarden.
Mass-transit advocates make headway in new Legislature
The $1.3 billion transit plan for Hamilton and Marion counties is one of a few lingering issues — along with Sunday alcohol sales and a constitutional amendment banning same-sex marriage — likely to appear before lawmakers in 2013.
Leases/leasing contracts
-Audio Video Color Corp. leased 100,957 square feet of industrial space at 2151-2155 Airwest Blvd., Plainfield. The tenant was represented by Bryan Augustin of Alliance Commercial Group. The landlord, Agellan Capital Partners, was represented by Michael Weishaar of Cassidy Turley.
-Minnick Services Corp. leased 5,600 square feet of industrial space at 2525 N. Shadeland Ave. The tenant was represented by Mark Writt of CBRE. The landlord, Cassidy Turley acting as court-appointed receiver, was represented by Todd Vannatta and Michael Weishaar of Cassidy Turley.
-Reesa Ann Academy leased 4,798 square feet at North Willow Mall, 2254 W. 86th St. The landlord, Township 86th Development, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-City Barbeque leased 3,648 square feet at Rangeline Crossing, 1356 S. Rangeline Road, Carmel. The tenant was represented by Steve Delaney of Sitehawk Retail Real Estate. The landlord, Centre and Associates LLC, represented itself.
-David Bender DDS leased 2,835 square feet at Greenwood Springs Shopping Center, 1273 Emerson Ave., Greenwood. The tenant was represented by Tom Hadley of Summit Realty Group. The landlord, Regency Centers, was represented by Keith Fried of Sitehawk Retail Real Estate.
-Sweet Things leased 2,695 square feet at North Willow Mall, 2288 W. 86th St. The landlord, Township 86th Development, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-Invacare Continuing Care leased 2,400 square feet of industrial space in Shadeland Business Park, 1740 Industry Drive. The tenant was represented by Kim Estes Hartman, Tom Osborne and R.J. Rudolph of Colliers International. The landlord, Property Professionals Inc., was represented by Terri Kuberski of Property Professionals.
-Hallmark Home Mortgage LLC leased 2,241 square feet at 9000 Keystone Crossing. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.
-Kays CPA Group renewed its lease for 2,047 square feet of office space at 3021 E. 98th St. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, Brookfield Real Estate Opportunity Group, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Heartland Vision leased 2,000 square feet at Fortune Plaza, 9655 U.S. 36, Avon. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Fortune Plaza Enterprise B LLC, was represented by Greg Smith of Colliers International.
-Z Specialty Coatings LLC leased 1,940 square feet in Kirby Park, 1135 3rd Ave. Southwest, Carmel. The tenant and landlord both represented themselves.
-Peanut Butter & Jelly Daycare leased 1,540 square feet of office space in Steinmeier Station, 5501 E. 71st St. The tenant was represented by Sian Kicks of Matlock Town & Country Realty. The landlord, Rock Investments LLC, was represented by Spero Pulos of Lee & Associates.
-Sterling Creek Software LLC leased 1,433 square feet at 8888 Keystone Crossing. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.
-Axis Home Health Care renewed its lease for 1,223 square feet of office space at 3500 DePauw Blvd. The landlord, Sterling American Property Inc., was represented by Dave Moore, Darrin Boyd and Bennett Williams of Cassidy Turley. The tenant represented itself.
-Alternative Technology Partners Inc. leased 1,164 square feet at The Bonn Building, 13578 E. 131st St, Fishers. The landlord, Bonn Building Partners LLC, was represented by Keith Fried and Steve Delaney of Sitehawk Retail Real Estate. The tenant represented itself.
Buffett-owned residential brokerage network to have presence here
Omaha-based Berkshire Hathaway Inc., through its HomeServices of America unit, bought a majority stake in the Prudential and Real Living real estate franchises from Brookfield Asset Management.
Company news
And back again. Women’s Health Alliance, a seven-doctor OB/GYN practice, will move Nov. 19 into the medical office building next to St. Vincent Carmel Hospital and will make that facility its main location for delivering babies. Women’s Health had been near the Indiana University Health North Hospital since it opened in 2005. Before that, however, Women’s Health Alliance had been affiliated with the St. Vincent Women’s Hospital on West 86th Street. Calls to the practice, which also includes four nurse practitioners, were not returned in time for IBJ’s deadline. However, the shift is the latest move by Indianapolis-area physicians to align with different hospital systems, as each health system tries to secure the referrals necessary to keep their beds filled. St. Vincent Health and IU Health, the two largest hospital systems in Indiana, have been particularly fierce competitors in the physician chase.
West Lafayette-based Endocyte Inc. suffered a 14-percent decline in its stock price on Friday after it made no change in its time line for completing a Phase 3 trial of its leading drug candidate, vintafolide, for treatment of ovarian cancer. Vintafolide, formerly known as EC145, is progressing toward market approval in the European Union. But in the United States, the Food and Drug Adminstration has required Endocyte to complete its Phase 3 trial before it will consider the drug for market approval. That trial had been delayed by short supplies of a comparison drug, called Doxil. Now that those shortages have ended, Wall Street analysts were hoping the time line for the trial might speed up. But Endocyte officials said they still expect data from the trial in the first half of 2014. Endocyte also reported that it lost $1.2 million, or 3 cents per share, during the three months ended Sept. 30. Analysts were expecting Endocyte's partnership with New Jersey-based Merck & Co. Inc. to push it out of the red, making 1 cent per share, according to a Thomson Reuters survey. Endocyte's quarterly revenue of $12.4 million also fell below analysts' expectations of $12.9 million.
Eli Lilly and Co.’s experimental Alzheimer’s drug did what it was designed to do: It removed free-floating pieces of the protein amyloid from patients’ brains and carried them to the bloodstream. That conclusion, issued Oct. 29 by a team of outside researchers, further confirms that Lilly’s drug solanezumab has some effect on the memory-sapping disease and the mechanism believed to cause it. Two large clinical trials of solanezumab demonstrated no effect on amyloid plaques seen in PET scans nor another protein associated with Alzheimer’s, called tau. Analysts continue to expect regulators to require another large clinical trial of the drug before they approve it for the market. That delay, coupled with the small effects so far documented for solanezumab, have analysts adjusting their potential sales estimates down. Whereas estimates ranged from $4 billion to $10 billion a few months ago, one recent estimate issued by Credit Suisse analyst Catherine Arnold predicts solanezumab will reach peak sales of $2.5 billion, according to a report from Reuters. That’s still big, but not quite the single-handed savior analysts thought solanezumab could be for Lilly, which is struggling through patent expirations on numerous blockbuster drugs.
Indianapolis Colts rookie quarterback Andrew Luck announced a four-year sponsorship agreement with Riley Hospital for Children at Indiana University Health. The Riley/Luck “Change the Play” initiative will include programs such as sports performance camps, educational tools for kids, and Luck speaking engagements. Luck will be paid to promote the hospital and the initiative, but financial terms were not disclosed. Luck won't be the first Colts quarterback to partner with a hospital. Peyton Manning, who departed the Colts last off-season for Denver, signed one of his first local deals as a professional football player in 1998 with St. Vincent Indianapolis Hospital. Manning's deal with St. Vincent grew over the years until the hospital's children's facility was named the Peyton Manning Children’s Hospital at St. Vincent in 2007. Despite his move to Denver, Manning still remains active with St. Vincent. St. Vincent used its association with Manning to try to chip away at Riley's market share in children's and pediatric care.
Eli Lilly and Co. will spend $140 million to construct an 88,000-square-foot plant southwest of downtown to make cartridges for insulin pens. The Indianapolis-based drugmaker announced details of the expansion Nov. 1 at a press conference on the site of the new plant on South Harding Street. The new plant, first announced Oct. 30, will adjoin Lilly’s existing manufacturing complex, known as the Lilly Technology Center. About 100 workers will staff the plant, which will be constructed by spring 2014 and ready for operations in 2015. But only “some” of that number will be additional jobs on top of the 3,000 manufacturing workers Lilly already employs in Indianapolis, according to Lilly. Wages for the new jobs will be similar to those earned by Lilly's existing manufacturing work force, although Lilly officials declined to disclose details. Lilly officials also said they plan to apply for tax abatements from the city. Lilly needs the new plant because demand for insulin continues to rise in the United States and globally. The company already makes insulin cartridges in Italy and France, and will continue to expand those plants, too.
Rusthoven an ‘epigone’
It is clear that Richard Mourdock is an astringent to the derriere of Peter Rusthoven [Oct. 29 column]. How else does one explain why the luminous Lugar acolyte Rusthoven would attack Mourdock for Mourdock’s cumbersome locution for which he has apologized and clarified?
Roundup: Einstein, Lush, Olive Garden, First Watch
Leading off the latest restaurant and retail roundup: A couple of national chains including Olive Garden and Ulta Beauty are expanding in central Indiana and a couple of others including Einstein Bros. Bagels and Goodwill are moving.
CNO Financial earnings fall on recapitalization charge
Carmel-based CNO Financial Group on Monday reported a third-quarter loss of $5 million compared to a $179.5 million profit in the third quarter of 2011.
Church caught up in nightmare after life insurance scheme sours
The Lindberg Road Church of Christ in Anderson has filed for bankruptcy protection because of a failed plan to finance construction on its properties. The plan involved buying life insurance on elderly members, with the intent to sell the policies later on the secondary market.
Small businesses share space to find efficiencies
Popular waxing spa The Naked Monkey is set to open its third location Nov. 1—a “Mini Monkey” inside MDG Salon | Studio’s new space downtown. The independent businesses are sharing space to cut costs.
Construction
-Capitol Construction has completed a 14,400-square-foot office build-out for VMS BioMarketing at 10333 N. Meridian St., Carmel.
-Capitol Construction has completed a 7,200-square-foot office build-out for Spotfreight at 445 N. Pennsylvania St.
-Capitol Construction has completed a 2,000-square-foot interior renovation of a Bob Evans restaurant at 7525 E. 96th St.
-Capitol Construction has completed a 2,000-square-foot interior renovation of a Bob Evans restaurant at 159 S. Marlin Drive, Greenwood.
Leases/leasing contracts
-International Paper leased 144,000 square feet of industrial space at 5021 W. 81st St. The landlord, Prologis, was represented by Luke Wessel of Cassidy Turley. The tenant represented itself.
-Kittle’s Home Furnishings leased 33,032 square feet at Southport Plaza, 7565 US 31 South. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Southport Plaza, was represented by Bill French of Cassidy Turley.
-El Chispas leased 19,260 square feet at Lafayette Shoppes, 3840-3882 Lafayette Road. The tenant was represented by Larry Harshman of Harshman Property Services LLC. The landlord, The Broadbent Co., was represented by Broadbent’s Jim Mosher.
-Dick’s Last Resort leased 6,240 square feet at Square 74, 111 W Maryland St. The tenant and landlord, Square 74 Associates LLC, were represented by Steve Delaney of Sitehawk Retail Real Estate.
-ATG Rehab leased 4,372 square feet of industrial space at 5804 W. 74th St. in Park 100. The tenant was represented by Richard R. King III and Steve Beals of Lee & Associates. The landlord, Park Creek Venture, was represented by Kate Ems of Duke Realty.
-Cooperative Managed Care Services LLC leased 3,691 square feet of office space at 9045 River Road. The tenant was represented by Sam Smith and Kevin Dick of Colliers International. The landlord, Duke Realty Limited Partnership, was represented by Adam Seger of Duke Realty.
-America's Best Contacts & Eyeglasses leased 3,255 square feet of retail space in the Nora Plaza Shopping Center, at the northwest corner of 86th Street and Westfield Boulevard. The tenant was represented by Allison Hawley of Cassidy Turley. The landlord, Ramco Gershenson Properties Trust, represented itself.
-Travel By Design leased 2,990 square feet of office space at 11559 Cumberland Road, Fishers. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Tracey Tabor Williams, DMD, renewed her lease for 2,690 square feet of office space at 303 N. Alabama St. The tenant was represented by Todd Morris of JTM Commercial. The landlord, DH Realty LLC, was represented by Jon Owens and Russ Van Til of Cassidy Turley.
-Range Line Chiropractic leased 1,875 square feet of retail space at 614 622 S. Rangeline Road, Carmel. The tenant was represented by Allison Hawley of Cassidy Turley. The landlord, Mohawk Management, represented itself.-ENS Group leased 1,360 square feet of office space at 11978 Fishers Crossing Drive, Fishers. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Great Care renewed its lease for 1,077 square feet of office space at 6515 E. 82nd St. The landlord, NorthStar Realty Finance Corp., was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-Maximum BMX leased 960 square feet of retail space at Green Meadows Shopping Center, 1542 N. State St., Greenfield. The landlord, Green Meadows Shopping Center LLC, was represented by Brady Clements of Skyline Property Group. The tenant represented itself.
-The Mint Salon leased 820 square feet of retail office space at Lake Plaza, 6801 Lake Plaza Drive, Suite C304. The landlord, Lake Plaza LLC, was represented by Brady Clements of Skyline Property Group. The tenant represented itself.
-World Finance Company leased 800 square feet of office space at Lake Plaza, 6801 Lake Plaza Drive, Suite C304. The landlord, Lake Plaza LLC, was represented by Brady Clements of Skyline Property Group. The tenant represented itself.
Report tallies local government debt loads
A new reporting requirement on local governments gives taxpayers unprecedented access to debt information, but the data is also likely to raise many questions.
Rapid rise of ExactTarget uplifting for young techies
In just over a decade, the interactive marketer has rocketed from bootstrapped startup to New York Stock Exchange-listed company with a market value of $1.5 billion.
Hetrick spins, too
Bruce Hetrick’s Oct. 22 column “Spouting off about the all-too-common art of spin” begins by offering the reader his view on how characters in the Broadway play “The Book of Mormon” are adept at spinning falsehoods in the guise of “helping people.” Hetrick provides spinning of his own, personally reviewing the highly irreverent play as hilarious, pant-wetting entertainment.
