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.
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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.
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.
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.
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.
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.
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.
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.
Public-transit guru Bingaman motors for private sector
Ehren Bingaman, executive director of the Central Indiana Regional Transportation Authority, will join architecture and engineering firm HNTB Indiana. He was one of the principal supporters of the mass-transit plan that stalled in the Statehouse this year.
Auto dealers turn bullish, snag sites
Local car dealers are investing in projects ranging from new facilities to showroom renovations as the economy improves and the auto industry rebounds from a crippling slump in sales.
Mass transit opponent pitches wider roads
A leading opponent of the plan for regional mass transit is floating an alternative that calls for widening north-south commuter corridors like Martin Luther King Jr. Street, Capitol Avenue and College Avenue.
RUSTHOVEN: This is post-racial America?
The final days of June made me wonder if we’re ever going to get past race.
Ingersoll-Rand’s spin-off plan may give boost to area
Irish industrial conglomerate Ingersoll-Rand Plc is poised to spin off its security operations late this year into Allegion—which will have its North American headquarters and most of its executive team in Carmel.
Dispute over vehicle ‘spy’ device patent flashes into court
A Carmel company that markets a device which plugs into a car’s diagnostic port to monitor the vehicle's performance has filed a patent-infringement lawsuit against a better-known competitor.
Firm uses ‘causality’ to improve Internet searches
Allegient LLC and subcontracted IUPUI informatics experts wrote algorithms that go beyond word searches to look for “causality”—relationships between words suggesting one thing caused another.
CNO repurchases $50M in shares in second quarter
The Carmel-based insurer expects to repurchase $250 million to $300 million of securities this year.
Friday fun: Free concerts
You can’t swing a dead squirrel north of 96th Street these days without hitting a cooler-and-blanket-toting suburbanite headed for a free concert.
Leases/leasing contracts
-CNH America LLC leased 153,600 square feet in Lebanon Business Park, Building 1, 201 N. Enterprise Road, Lebanon. The tenant was represented by
Jeremy Woods of Summit Realty Group. The landlord, Duke Realty, was represented by Duke's Jay Archer.-Studio Movie Grill leased 56,957 square feet of retail space in College Park Theater, 3535 W. 86th St. The tenant and landlord, Sandor Development, represented themselves.
-Household Furniture Inc. renewed its lease for 15,367 square feet of retail space in Eagledale Plaza, 2802 N. Lafayette Road. The tenant and landlord, Sandor Development, represented themselves.
-Matrix Technologies Inc. leased 12,997 square feet of office space at 6625 Network Way. The tenant was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The landlord, Network Way Properties LLC, was represented by Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.
-Aaron’s Rents renewed its lease for 12,000 square feet of retail space in Eagledale Plaza, 2802 N Lafayette Road. The tenant and landlord, Sandor Development, represented themselves.
-DBMS Inc. leased 5,065 square feet at Castle Creek VI, 5975 Castle Creek Parkway. The tenant was represented by Darrell Pike of Pike Real Estate Services. The landlord, ORIX Capital Markets, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
-DOTS renewed its lease for 4,500 square feet of retail space in Norgate Shopping Center, 7235-H N. Keystone Ave. The tenant and landlord, Sandor Development, represented themselves.
-Summit Occupational Medicine leased 3,000 square feet of medical space at 3750 N. Meridian St., Suite 300. The tenant was represented by Brooke Sipe and Drew Augustin of Alliance Commercial Group. The landlord, Medical Properties Inc., represented itself.
-Caring for Women’s Health LLC leased 2,775 square feet of office space at 107 N. State Road 135, Greenwood. The tenant was represented by Cathy Richards of Lee & Associates. The landlord, NSR 135 LLC, represented itself.
-Electronic Merchant Systems leased 2,397 square feet at Castle Creek III, 8720 Castle Creek Parkway. The tenant was represented by Katie Sobotowski of Summit Realty Group. The landlord, ORIX Capital Markets, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
-CenterFirst leased 2,203 square feet at Castle Creek IV, 5875 Castle Creek Parkway. The tenant was represented by Leslie Bonacker of CresaPartners. The landlord, ORIX Capital Markets, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
-Web Connectivity leased 1,839 square feet of office space in Auburn Woods Park, 9660 Commerce Drive, Carmel. The landlord, Sandor Development, was represented by Lawrence Morrissey of Corporate Commercial Group. The tenant represented itself.
-Miracle Ear leased 966 square feet of retail space in Ashley’s Crossing Shops, 733 Loews Blvd., Greenwood. The landlord was represented by Jeff Roberts of Sandor Development. The tenant represented itself.