Indiana public companies had banner year
Corporations staged advances across a variety of industries in 2010 as the economy improved.
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Articles
Airport Borders store on bankrupt chain’s hit list
Indianapolis International Airport officials could know by next week whether the Borders bookstore inside the terminal will survive a third round of store closures tied to the chain’s Chapter 11 bankruptcy proceedings.
Carmel senior-living project to create 340 jobs
Carmel Mayor Jim Brainard on Tuesday unveiled details of a multimillion-dollar project expected to create more than 200 construction jobs and 140 permanent positions over the next two years.
Report paints brighter picture for retail
The real estate investment firm Marcus & Millichap says vacancy rates and tenant concessions in Indianapolis are falling while rents and sale prices are poised to rise.
Leasing/leasing contracts
-Creative Converting leased 18,041 square feet of office space at 6602 E 75th St. The tenant was represented by Matt Waggoner of Summit Realty Group. The landlord, Capozzoli Advisory for Pensions Inc., was represented by Andrew Martin of Cassidy Turley.
-Electronic Evolutions Inc. leased 13,000 square feet of office space at 535 W. Carmel Drive, Carmel. The tenant was represented by Stephen Adams of Hokanson Inc. The landlord, Greg Dawson & Associates, was represented by Matt Waggoner and Tom Hadley of Summit Realty Group.
-Pepperidge Farm leased 9,000 square feet of industrial space at 3250 N. Post Road. The tenant was represented by Don Ballard and Steve Beals of Lee & Associates. The landlord, Forester Properties, was represented by Kyle Powell of Cassidy Turley.
-USA Fireworks leased 5,880 square feet of retail space at Sherman Commons, 3709 E. Washington St. The tenant and landlord, Indy Management Group, were represented by Herb Feldmann and Cindy Hoskinson of Lee & Associates.
-The Stacked Pickle leased 5,100 square feet at Fishers Station, 11621 N. Fishers Station Drive, Fishers. The tenant was represented by Brian Epstein of Urban Space. The landlord, Fishers Station Development Co., was represented by Blake Beaver of Kite Realty Group.
-CBDM Inc., doing business as The Local Eatery & Pub, leased 4,845 square feet at Bridgewater Marketplace, 146th and Gray Road, Westfield. The tenant was represented by Nicholas Wright of Newbridge Commercial Real Estate Inc. The landlord, KRG Bridgewater LLC, represented itself.
-USA Fireworks leased 4,200 square feet of retail space at Prairie Lakes, 14350 Mundy Drive, Noblesville. The tenant and landlord, Prairie Lakes Development LLC, were represented by Herb Feldmann and Cindy Hoskinson of Lee & Associates.
-J. Rasso’s Italian restaurant leased 3,741 square feet at Hamilton Crossing Centre, 12201 N. Meridian St., Carmel. The tenant was represented by Steve Tatum of Steve Tatum Commercial Real Estate. The landlord, KRG Hamilton Crossing LLC, was represented by Blake Beaver of Kite Realty Group.
-Viva Dental leased 3,010 square feet at Washington Market, 10409 E. Washington St. The tenant was represented by Kelli Membreno of Libertad Real Estate. The landlord, Sandor Development, was represented by John Holloway of Sandor.
-Foot Euphoria leased 2,912 square feet of retail space at Fortune Plaza, 9655 U.S. Hwy 36, Avon. The tenant was represented by Rick Jones of Lee & Associates. The landlord, Fortune Enterprise B LLC, was represented by Greg Smith of Colliers International.
-Body One Physical Therapy leased 2,483 square feet of retail space at Cherry Street Plaza, 310 E. Main St., Westfield. The tenant was represented by Tim O’Brien and Yumi Prater of Colliers International. The landlord, Cherry Street Plaza LLC, was represented by Ron Mannon of Lee & Associates.
-Maurel Bridal Boutique leased 2,280 square feet at West Washington & Belmont Market, 2111 W. Washington St. The tenant was represented by Kelli Membreno of Libertad Real Estate. The landlord, Sandor Development, was represented by John Holloway of Sandor.-Revol Wireless leased 1,600 square feet at Honey Creek Plaza, 5408 W. 38th St. The landlord, Sandor Development, was represented by John Holloway of Sandor. The tenant represented itself.
-1-Call Contractor Services leased 1,500 square feet of industrial space at Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.
-Crooked Creek Community Development Corp. leased 1,200 square feet at Smarts Plaza, 7003 N Michigan Road. The landlord, Sandor Development, was represented by John Holloway of Sandor. The tenant represented itself.
-Asia Bistro leased 1,200 square feet at Fishers Station, 7400 E. Fishers Station Drive, Fishers. The tenant was represented by Karen Yan of Best Realty. The landlord, Fishers Station Development Co., was represented by Blake Beaver of Kite Realty Group.
Company news
Eli Lilly and Co. is getting into orthopedics. The Indianapolis-based drugmaker signed a deal with Swiss company Synthes Inc. to co-promote the bone drug Forteo to orthopedic surgeons and to license some experimental drugs to Synthes. The companies also will team up to study an additional use for Forteo in fracture healing. Terms of the deal were not disclosed. Synthes specializes in developing and selling instruments, implants and biomaterials to fix bone and soft tissues. It has agreed to sell itself to New Jersey-based Johnson & Johnson for $21 billion. In a separate development, Lilly won the first round in a court battle with another development partner, San Diego-based Amylin Pharmaceuticals Inc. A federal judge rejected Amylin’s claim that, if Lilly uses the same sales force to sell Byetta, a diabetes medicine made by Amylin, and Tradjenta, a diabetes pill made by Germany-based Boehringer Ingelheim GmbH, it would be anti-competitive. Amylin promised to appeal.
Three weeks after the CEO of Riley Hospital for Children resigned, his right-hand man announced his departure, too. Brett D. Lee, the chief operating officer at Riley, announced his plans June 8 to leave the Indianapolis hospital for a new job in Atlanta. His last day will be July 6. It’s not clear if Lee’s departure is connected to the May 20 resignation of Dan Fink, who had been CEO of Riley for about two years. Fink was replaced as CEO on an interim basis by Marilyn Cox, Riley’s chief nursing officer. Lee was considered a rising star at Riley, which is part of the Indianapolis-based Indiana University Health hospital system. Less than a year after being hired by Riley in April 2010, Lee was named the young health care executive of the year by the American College of Healthcare Executives, in part for his work applying Six Sigma and lean-process methods to the health care environment. Lee will become senior vice president of clinical operations at Children’s Healthcare of Atlanta, the nation’s largest provider of pediatric care. It has three free-standing hospitals, with a total of 520 beds, as well as 17 outpatient facilities throughout the Atlanta metro area.
Carmel-based Woll Enterprises Inc. has won a contract to commercialize three medical products invented by two Florida physicians. Dr. Nevenka Horvat and Dr. Branimir Horvat, of Sarasota, Fla., have developed a medication for relief from psoriasis and eczema; a placental blood extractor; and a sequential lymphedema pump for removing excess fluid from swollen limbs. Woll Enterprises will try to locate funding to move the products toward market approval.
Dow AgroSciences LLC announced a deal to purchase assets from Iowa-based Sansgaard Seed Farms Inc. Indianapolis-based Dow Agro will receive rights to Sansaard’s Praide Brand Seed brand, as well as other marketing assets, land, buildings and equipment. Sansgaard’s Iowa headquarters and staff will remain intact. But now Dow Agro will market its corn and soybean seeds under the Prairie Brand name. Dow has made several acquisitions of seed distributors in the past three years to build a distribution network for its SmartStax genetically engineered seed, as well as future innovations, like its Enlist Weed Control System for corn and soybeans. Financial terms of the agreement were not disclosed.Nyhart, an Indianapolis-based actuarial and employee-benefits consulting firm, has acquired Atlanta-based Stanley, Holcombe & Associates, which focused on public pensions and defined-benefit retirement consulting. Financial details of the acquisition were not disclosed. Nyhart will keep the existing Atlanta office space as well as retain the entire Atlanta staff. The deal gives Nyhart a base of retirement clients that have more than $14 billion in plan assets.In December, Nyhart announced the purchase of the Kansas City, Mo., operations of retirement consultancy Alliance Benefit Group.
IHOP adding new restaurants
The IHOP restaurant chain is trying to regain a foothold in central Indiana with two new locations under construction and at least three more in the works.
Anson Group CEO thrives on helping clients work with FDA
Colleen Hittle became CEO and sole owner of the Indianapolis-based pharmaceutical and medical device consulting firm in April.
Net Literacy teaches Internet skills to those in need
Teen's brainstorm results in internationally recognized not-for-profit that promotes computer literacy and safety, including programs for financial literacy and computer repurposing for donation to Indianapolis areas in need of the technology.
Carmel hotel evacuated by fire
A fire forced the evacuation of the Four Points by Sheraton hotel in Carmel shortly before midnight on Sunday. About 60 of the 171 rooms at the hotel at 251 Pennsylvania Parkway were occupied at the time of the blaze, which started when a curtain caught on fire on the fifth floor. The guests were taken to other hotels early Monday morning due to smoke and water damage.
LendingTree.com office with 64 employees closing in Carmel
Tree.com Inc., the Charlotte, N.C., parent of LendingTree.com, said its Carmel office will shut down by Aug. 16, costing 64 employees their jobs.
Carmel family law attorney dies
Well-known Carmel attorney Stephenie Jocham, who founded family law firm Jocham Harden Dimick Jackson in 2008, died Thursday at age 42 after a two-year battle with cancer. Jocham co-founded the Central Indiana Association of Collaborative Professionals, a not-for-profit that promotes collaborative law in Indiana.
Who’s Who in Life Sciences – 2011
In a monthly feature that runs in the first issue of the month, through October, IBJ is identifying influential players in eight different industry categories. Formidable brainpower sums up the individuals included in our list of Who’s Who in Life Sciences.
Real estate deals picking up around Fashion Mall
Owners of the Sheraton Indianapolis are converting one of its towers into luxury apartments, and developers are vying to replace the vacant Woodfield Centre.
LOU’S VIEWS: Performing arts summer preview
Summer is no longer a time when an Indy A&E lover has to put aesthetics and adventurousness on hold.
Leases/leasing contracts
-BGBC Partners LLP leased 15,783 square feet of office space at 300 N. Meridian St. The tenant was represented by Rich Forslund and Matt Langfeldt of Summit Realty Group. The landlord, REI Real Estate Services LLC, was represented by Mike Napariu of REI Investments.
-Kirkland’s leased 8,482 square feet at Greenwood Shopping Center, U.S. 31 and County Line Road.The tenant was represented by Roland Mackie of RightSite. The landlord, Kimco North Trust, was represented by Larry Davis and Tom English of Sitehawk Retail Real Estate.
-Cantrell Strenski & Mehringer LLP leased 8,405 square feet of office space at 150 W. Market St. The tenant was represented by George Dury of Dury Investment Group. The landlord, NEA Properties Inc., was represented by Rich Forslund and Matt Langfeldt of Summit Realty Group.
-Bensussen Deutsch & Associates leased 4,271 square feet of office space at 32 E. Washington St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, Indiana Symphony Society Inc., was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Imagine Hope Counseling Group LLC leased 3,233 square feet of office space at 3105 E. 98th St. The tenant was represented by Brian Askins of UGL Equis. The landlord, BREOF Keystone REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-TOC Logistics leased 3,192 square feet of office space at 2629 Waterfront Parkway. The landlord, New Boston Jacaranda LP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc. The tenant represented itself.-American Academy of Osteopathy leased 2,955 square feet of office space at 3500 Depauw Blvd. The tenant was represented by Matt Waggoner of Summit Realty Group. The landlord, CP Pyramids Associates LP, was represented by Dave Moore, Darrin Boyd and Bennett Williams of Cassidy Turley.
-Pediatric Nursing Specialists leased 2,442 square feet of office space at 3500 Depauw Blvd. The landlord, CP Pyramids Associates LP, was represented by Dave Moore, Darrin Boyd and Bennett Williams of Cassidy Turley. The tenant represented itself.
-VEAPS Inc. leased 2,362 square feet of office space at 6535 E. 82nd St. The landlord, NRFC Castleton Park Holdings LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-Zoup! leased 2,332 square feet at Meijer Outlot Shops, 1430 W. Carmel Drive, Carmel. The tenant was represented by Robyn Smart of CB Richard Ellis.
The landlord, Terre Carmel East LLC, was represented by Larry Davis and Thomas English of Sitehawk Retail Real Estate.-Hull & Associates leased 1,982 square feet of office space at 6435 Castleway West Dr. The tenant was represented by Dustin McFarland of Mohr Partners. The landlord, NRFC Castleton Park Holdings LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Rapid Logistics leased 1,232 square feet of office space at 2611 Waterfront Parkway. The landlord, New Boston Jacaranda LP, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc. The tenant represented itself.
Total pay for executives surged in 2010
Total executive compensation at Indiana’s largest public companies continued to rise sharply coming out of the recession, even though many of them have yet to erase the red ink in their shareholders’ portfolios.
CEOs see stock windfall after market crash
Executives at Indiana’s public companies got rich in the down-and-up market, even when investors didn't. CNO Financial's Jim Prieur, for example, received stock grants now worth $4.4M, despite share prices that are 40 percent lower than three years ago. With searchable database.
Rise of machines bodes well for tech firm Mesh Systems
The founder of Mesh Systems, a company that develops wireless “machine-to-machine” communications software and hardware, says his products have countless applications. Earlier this month, Mesh closed on a $2.5 million private placement from investors in Indiana and Wisconsin.