Northside office complex might fetch more than $40M
The three buildings near I-465 and North Meridian Street that make up Meridian Corporate Plaza were lost by Lauth Investment Properties LLC in its bankruptcy reorganization.
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Articles
Ingersoll-Rand spin-off names CEO for Carmel operation
The $2 billion global security company slated to take shape in Carmel later this year has added a major piece to its executive puzzle: CEO David D. Petratis.
Retail roundup: Noblesville sports bar, sushi, doughnuts, pretzels, Burritos & Beer
The former owners of Broad Ripple’s Red Room nightclub are opening a Noblesville sports bar. Nemo’s leads a retail roundup that also includes five new eateries in Fishers.
Roundup: French macarons in Westfield, Italian in Carmel and just-add-meat meals
A European-style bakery is planned for a historic bank building in downtown Westfield. Plus: a Carmel startup’s single-serving meal kits and familiar names in Zionsville.
Carmel firm settles discrimination lawsuit for $90K
A Carmel-based power-grid operator has agreed to pay $90,500 to settle a disability discrimination lawsuit involving an employee who allegedly suffered from postpartum depression.
San Diego wellness-program firm plans 300 jobs in Carmel
American Specialty Health has lined up office space along North Meridian Street. The company may establish Carmel as its new headquarters.
Leases/leasing contracts
-Kid Glove Service Inc. leased 563,820 square feet of industrial space at 2525 N. Shadeland Ave. The tenant was represented by Stan Elser of Lee & Associates. The landlord, 2525 Shadeland LLC, was represented by Todd Vannatta of Cassidy Turley.
-Building Bridges Early Learning Center leased 15,000 square feet at Madison on the Mall, 1211 N. Madison Ave., Greenwood. The landlord, Murnel Property LLC, was represented by Tracey Holtzman of Midland Atlantic Properties. The tenant represented itself.
-R&S Design Gallery leased 9,460 square feet of industrial space at 8730 8932 Corporation Drive. The tenant was represented by Cameron Kucic of Summit Realty Group. The landlord, Westminster Funds, was represented by Todd Vannatta of Cassidy Turley.
-On Time Delivery Inc. leased 7,200 square feet of industrial space at 5058 5148 W. 79th St. The tenant was represented by J.D. Graves of CBRE. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.
-Infodynamics leased 5,460 square feet of industrial space at 9855 Crosspoint Blvd. The tenant was represented by Bill Ehret of Summit Realty Group. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.
-Heartland Fuel LLC leased 3,600 square feet of industrial space at 5333 5367 W. 86th St. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.
-RSI Solutions Inc. leased 2,880 square feet of industrial space at 1761 N. Sherman Drive. The landlord, Brookside Industrial Park LLC, was represented by Fritz Kauffman and Michael Weishaar of Cassidy Turley. The tenant represented itself.
-Window Universe leased 2,700 square feet of industrial space at 5058 5148 W. 79th St. The tenant was represented by Bobbi Charters of RE/Max Lafayette Group. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.
-Krause Dental leased 2,674 square feet at Carey Shops, 3247 E. State Road 32, Westfield. The tenant was represented by Matt Jackson of Jackson IG. The landlord, H.W. Carey LLC, was represented by Dean Almas of Sitehawk Retail Real Estate.
-Urban Furniture Discounters Mattress Store leased 2,400 square feet at Castleton Marketplace, 8383 Castleton Corner Drive. The landlord, Castleton Square Marketplace LLC, was represented by Jeff Hubley of Midland Atlantic Properties. The tenant represented itself.
-Wynright Corporation leased 2,400 square feet of industrial space at 5603 W. Raymond St. The tenant was represented by Eve Shirley of Carmen Commercial Real Estate Services. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.
-The Joint leased 2,159 square feet at Hamilton Town Center, Noblesville. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Hamilton Town Center LLC, was represented by Lorene Wright of Simon Property Group.
-Fanfare Tickets leased 2,154 square feet at 116th Street Centre, 33 E. 116th St., Fishers. The landlord, TCP Guilford LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-Great Fermentations leased 1,800 square feet at Avon Crossing, 7900 E. U.S. 36, Avon. The landlord, Cranfill Development Corp., was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.
-Century Business Products leased 1,800 square feet of industrial space at 8930 Bash St. The landlord, Westminster Funds, was represented by Todd Vannatta of Cassidy Turley. The tenant represented itself.
-Next Level Nutrition leased 1,000 square feet at Cool Creek Commons, 2456 E. 146th St., Carmel. The tenant was represented by Marilyn Farley of ReMax Select Inc. The landlord, Westfield One LLC, was represented by Andrew Hasbrook of Kite Realty Group.
-The Waxing Spot leased 884 square feet at 116th Street Centre, 33 E. 116th St., Fishers. The landlord, TCP Guilford LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
Company news
Eli Lilly and Co. said it will test its experimental Alzheimer’s drug in patients with early stages of the disease after the medicine failed to slow the condition in more advanced patients. According to Bloomberg News, the trial of 2,100 patients, called Expedition III, will measure patients’ ability to do daily tasks like cooking or driving, and to remember words after a delay. Lilly is pushing ahead with the drug, called solanezumab, as potentially the first medicine to demonstrate that it treats Alzheimer’s causes rather than just the symptoms. The drug targets the buildup of plaque known as beta amyloid in the brain that’s thought to be a basis of Alzheimer’s. The trial should take about 22 months to complete. In earlier clinical trials, solanezumab failed to show overall effectiveness, but did appear to slow the progression of Alzheimer’s in patients with mild forms of the disease. Lilly’s new trial will use new tests for biological signs of the disease to help enroll early-stage patients and to see whether their illness is advancing. More than 5 million Americans have Alzheimer’s, the most common form of dementia, and the number is expected to surge to as many as 16 million by 2050 as the population ages, according to the Alzheimer’s Association. No drugs on the market have been shown to slow the disease. The market for medicines may be worth $20 billion annually, Deutsche Bank estimated last year. Merck & Co., Novartis AG, Roche AG and other large drugmakers are pursuing treatments.
San Diego-based American Specialty Health Inc., a wellness-program provider, plans to open an office in Carmel by March, employing at least 300 in “an operations, customer service and redundancy center.” Sources familiar with the situation said Carmel may also become the company’s corporate headquarters. Founded in 1987 in CEO George DeVries’ extra bedroom, ASH operates 13 subsidiaries that offer health-and-wellness services to employer groups, health plans and insurance companies nationwide. Its Healthyroads unit, for example, provides a Silver&Fit “healthy aging” program to Medicare Advantage beneficiaries. ASH and other players in the wellness industry are expected to keep growing thanks to provisions in the 2010 Affordable Care Act that create incentives to promote health-management programs. Privately held ASH reported revenue of $221 million last year, up 64 percent from 2009, when the company first appeared on the Inc. 5000 list of the country’s fastest-growing businesses. DeVries is a graduate of Culver Academies in northern Indiana and serves on its board. ASH already has a nine-person office on 96th Street in Indianapolis, and Freeman said those employees eventually will move to Carmel.
Indianapolis-based WellPoint Inc. will pay $1.7 million to the U.S. Department of Health and Human Services to resolve allegations it left the information of more than 612,000 members available online because of inadequate safeguards. According to the Associated Press, between Oct. 23, 2009, and March 7, 2010, security weaknesses in an online application database left the information of 612,402 people accessible to unauthorized users. That information included names, birthdates, addresses, telephone numbers, Social Security numbers, and health data. WellPoint, the nation’s second-largest health insurer, reported the breach to the Health and Human Services Department. The agency then started an investigation, saying WellPoint's actions may have violated the Health Insurance Portability and Accountability Act, or HIPAA.
Catarmaran Corp., a pharmacy benefits manager, plans to hire 205 people within two years at a hub it's building in Jeffersonville, according to the Associated Press. The Illinois-based company has committed to hiring 104 full-time, permanent employees next year and a total of 205 by 2015. The jobs paying an average of nearly $24 per hour will include pharmacists, technicians, call-center employees and others.
Critics oppose Carmel gas station planned near aquifer
Citizens Energy Group is leading the opposition to a gas station planned for 146th Street and River Road on the edge of Carmel, saying it is too close to a major source of central Indiana’s drinking water.
Attorney disbarred for writing book about client
In 2010, Joseph Stork Smith authored a book purporting to be a true autobiographical account of his 20-year relationship with a former client who was active in politics.
Roundup: Thirsty Scholar opening at 16th and Penn
The coffee, beer and wine bar in the Penn Arts building is expected to open next week. Other restaurant and bar openings are set for Mass Ave, along with an Italian chain coming to River Crossing.
Specialty grocer on wish list for MSA development
Flaherty & Collins, the developer of the 28-story tower, “would love to have a Whole Foods” or similar grocer as a retail tenant. With one Marsh two blocks away and another under construction nearby, the project begs the question whether the area can support three groceries.
State adds jobs in manufacturing, but unemployment rate ticks up
Most of the job growth came from the manufacturing sector, which expanded by 4,300 jobs over the month, marking the largest one-month jump in manufacturing since August 2004.
Will residential boom end commercial bust in West Clay?
Residential construction is booming in The Village of West Clay, the already-sprawling Carmel development designed to mimic small-town life at the turn of the (last) century. But not everything has gone according to Brenwick Development’s ambitious plans. Two commercial nodes remain largely undeveloped, and one property owner’s legal woes led to several high-profile vacancies that have yet to be filled.
Emmis sees coupons as next frontier for radio apps
An app that would allow smartphones to receive FM radio signals like a transistor radio has been hailed as a way to help stations recapture listeners who fled to Web-based music streaming services.
Basketball history magazine full of fun facts and features
I leaf through the pages, uncovering gems, some that I’d forgotten and some that I never knew, even though I’m a lifelong Hoosier.
Mighty Oxford Financial loses big case with client
An arbitrator ordered the Carmel financial-advisory firm to pay $2.2 million to Reid Hospital & Health Services of Richmond. The dispute involved a delay in executing trades in 2011 that the hospital alleged cost it $2.5 million.
Leases/leasing contracts
-Solutions 2 Go LLC leased 190,872 square feet of industrial space at 7900 Rockville Road. The tenant was represented by Tom Cooler of CBRE. The landlord, Equity Industrial A Rockville LLC, was represented by Luke Wessel and Todd Vannatta of Cassidy Turley.
-Emser Tile leased 20,026 square feet of industrial space at 8700 Roberts Drive, Fishers. The tenant was represented by Kelly Williams of Cassidy Turley. The landlord, Meritex, was represented by Brian Buschuk of Jones Lang LaSalle.
-Mont Granite leased 18,670 square feet of industrial space at 5945 W. 84th St. The tenant was represented by Fritz Kauffman of Cassidy Turley. The landlord, Meritex, was represented by Brian Buschuk and Brian Seitz of Jones Lang LaSalle.
-Guardian Pharmacy leased 12,828 square feet of industrial space at 6520-6546 Corporate Drive. The tenant was represented by Bill Ehret of Summit Realty Group. The landlord, GI Partners, was represented by Bryan Poynter and Russ Van Til of Cassidy Turley.
-The Consultant's Consortium Inc. renewed its lease for 9,074 square feet of office space at 1099 N. Meridian St. The tenant was represented by Brooke Sipe of Alliance Commercial Group. The landlord, Cassidy Turley acting as court-appointed receiver, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Junk Dawgs leased 8,740 square feet of industrial space at 4333 W. 71st St. The tenant was represented by Leslie Bonaker of CRESA Partners. The landlord, Home Acres Building Supply Co. Inc., was represented by Bill Brennan of Lee & Associates.
-Ruoff Mortgage Company Inc. leased 7,475 square feet of office space at 9100 Keystone Crossing. The tenant was represented by Mike Semler of Cassidy Turley. The landlord, Equus Capital Partners Ltd., was represented by Abby Cooper Zito and John Robinson of Jones Lang LaSalle.
-Northwestern Mutual leased 6,464 square feet of office space at 965 Emerson Parkway, Greenwood. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, Allen Commercial Group, was represented by Greg Allen of Allen Commercial Group.
-Indiana State Department of Workforce Development leased 5,000 square feet of industrial space at 2525 N. Shadeland Ave. The tenant was represented by Denice Michel of Jones Lang LaSalle. The landlord, Orton Development Inc., was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.
-Invoke Wellness Center LLC leased 3,163 square feet of retail space in Greenbriar Shopping Center,1315 W. 86th St. The tenant was represented by Bill Ehret and Nancy Gibbs of Summit Realty Group. The landlord, Prime Property Investors Fund VIII LP, was represented by Bart Jackson of Lee & Associates.
-Terra Limited leased 2,385 square feet of office space at 11711 N. College Ave., Carmel. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, 11711 North College LLC, was represented by Kimberly Hartman of Colliers International.
-Select Physical Therapy Holdings Inc. renewed its lease for 2,119 square feet of office space at 9011 N. Meridian St. The landlord, Cassidy Turley as court-appointed receiver, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Elser Financial leased 1,363 square feet of office space at 8365 Keystone Crossing. The tenant was represented by Stan Elser of Lee & Associates. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin and Bennett Williams of Cassidy Turley.
-Advanced Surgery of Indiana LLC leased 1,200 square feet of office space at 6470 N. Shadeland Ave. The tenant and landlord, Larry H. Fujinaka II LLC, were represented by Bob Lindgren of Lee & Associates.
-Edward Jones renewed its lease for 1,000 square feet of office space in Murphy’s Landing Professional Building, 6925 S. Harding St. The tenant was represented by Marge Browning of Cassidy Turley. The landlord, The Copeland Family 1995 Living Trust, was represented by Cathy Richards of Lee & Associates.
IPO for giant retail REIT may be biggest since Simon
The initial public offering of Brixmor Property Group, the second-largest U.S. shopping center landlord, may be the biggest for a retail real estate investment trust since Simon Property Group Inc.’s IPO 20 years ago.