Arts endowments bouncing back
The stock market’s recovery has lifted endowments that provide major support to local arts groups, but managers are keeping the conservative attitude they were forced to adopt two years ago.
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Broadband provider sends troubling financial signals
Omnicity Corp. is a half-year behind in payments to a Muncie lender and faces several lawsuits over unpaid bills from companies it acquired.
Local office market continues vacancy struggles
The Indianapolis office market suffered through a tough 2010, marked by stagnant and high downtown vacancy rates, falling suburban occupancy rates and another year without construction activity.
Company news
Two St. Vincent Health hospitals—Saint John’s Health System and St. Vincent Jennings Hospital—have started using the DOCS4DOCS service provided by the Indiana Health Information Exchange. DOCS4DOCS centralizes in electronic format all the lab results, radiology reports, transcriptions, pathology and hospital admissions reports, discharge and transfer reports from all participating Indiana hospitals, physician practices, labs and radiology centers. The service, which swaps more than 6 million messages each month, is paid for by hospitals and laboratories but provided free of charge to physicians. The exchange, based in Indianapolis, now has more than 80 hospitals and 19,000 physicians participating in its medical-record-sharing services.
Marcadia Biotech Inc., a Carmel-based biopharmaceutical company founded by former Eli Lilly and Co. executives, has been acquired by Swiss life sciences giant Roche. Some details of the transaction will be disclosed in February. Roche’s holdings include Roche Diagnostics, which employs more than 3,000 in Indianapolis at its North American headquarters. Marcadia has about a dozen employees at its 11711 N. Meridian St. headquarters, who have so far been sustained by the millions of dollars Marcadia has raised in venture capital and its partnerships with large drug companies.. Marcadia has been focusing on drugs to treat metabolic diseases such as diabetes and obesity. It previously partnered with drug giant New Jersey-based Merck & Co. Inc. and with Indianapolis-based Lilly. Last June, Marcadia and Lilly struck a deal to develop short-acting glucagon drugs to treat severe hypoglycemia. Roche’s big hope for a new diabetes drug, taspoglutide, had its clinical trials suspended in September due to severe digestive-tract side effects.
DINING: Getting the royal treatment at Thai Castle
Second in a month-long look at restaurants within easy reach of Carmel’s new Palladium.
New local restaurants open for business
The former owners of Arturo’s have opened another eatery, this time in Carmel’s Arts & Design District.
Palladium not alone in playing up acoustics
The new Center for the Performing Arts in Carmel and other arts organizations are promoting the quality of their venues’ acoustics, but does the paying public really care?
Aprimo sale may usher in ‘new wave’ of tech deals
Observers say conditions are ripening for more deals like the recent $525 million sale of Aprimo Inc. in the months ahead—not only among IT firms, but also among biotech companies here.
Newspaper chain expanding in Fishers
Current Publications is exhibiting growth seldom seen in the newspaper industry these days. Four years after launching, the company is preparing to debut its fourth weekly newspaper in Hamilton County on Jan. 25.
Legislators to debate bans on smoking, mobile phones
Lawmakers who want to ban smoking statewide and prohibit drivers from using handheld mobile phones have worked for years to sway opponents who denounce the bans as too much government intrusion. Now supporters say those arguments may be diminishing.
California Pizza Kitchen to replace Alcatraz & more
California Pizza Kitchen plans to replace Alcatraz Brewing Co. on the first floor of Circle Centre mall. Alcatraz has occupied the space at the southeast corner of Illinois and Maryland streets since the mall opened in 1995. The Los Angeles-based chain does not currently have any restaurants in Indiana.
Leasing/leasing contracts
-UTi Integrated Logistics Inc. leased 50,000 square feet of industrial space at 5136 W. 81st St. The tenant was represented by Stan Elser and Bill Brennan of Lee & Associates. The landlord, Dugan Realty Inc., was represented by Kate Willen and Glenn Davis of Duke Realty.
-Hibachi Grill and Supreme Buffet leased 18,750 square feet at Cherry Tree Plaza, 9701 E. Washington St. The tenant was represented by Mark Sturgis of ADM Commercial Properties. The landlord, Sandor Development Co., was represented by Jamison Downs of Sandor.
-Bermo Enterprises Inc., doing business as Max $10, leased 6,750 square feet at Cherry Tree Plaza, 9749 E. Washington St., Suite A. The landlord, Sandor Development Co., was represented by Jamison Downs of Sandor. The tenant represented itself.
-cfc Adviser of Carmel Inc. leased 4,000 square feet at Pebble Brook Village, 5540 Pebble Village Lane, No. 100, Noblesville. The landlord, Pebble Brook Office Two LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
-El Nopal Mexican Restaurant leased 4,000 square feet of retail space at Pebble Brook Village, 5540 Pebble Village Lane, Noblesville. The tenant was represented by Bill Buzan of Real Estate Unlimited. The landlord, Tom Wetherald, was represented by John Reller of Colliers International.
-Good Times of Indiana LLC, doing business as Smoke Station, leased 2,210 square feet at College Park Plaza, 8403 N. Michigan Road, Suite A. The tenant was represented by Stephen Daum of NAI Olympia Partners. The landlord, Sandor Development Co., was represented by Jamison Downs and John Holloway of Sandor.
-Good Times of Indiana LLC, doing business as Smoke Station, leased 1,820 square feet at East 40 Plaza, 8516 E. Washington St. The tenant was represented by Stephen Daum of NAI Olympia Partners. The landlord, Sandor Development Co., was represented by Jamison Downs and John Holloway of Sandor.
-Trusted Auto Repair leased 1,500 square feet of industrial space at 2251 N. Dequincy in the Garfield Industrial Park. The landlord, Garfield LLC, was represented by Brad King of Colliers International. The tenant represented itself.
-Joe’s Cutz leased 600 square feet in Augusta Plaza, 7247 N. Michigan Road. The tenant was represented by Nick Smyrnis of Lee & Associates. The landlord, Augusta Plaza Associates LP, was represented by Fred Frisch of Lee & Associates.
Carmel cop put on leave
A Carmel police officer has been put on paid administrative leave following allegations he hit on female drivers after pulling them over for traffic tickets. Officer Greg Park's attorney said Park is accused of being too friendly with female drivers and, in one case, followed a woman home to drop off a ticket. Park may be exploring a potential countersuit claiming the police department is unfairly targeting him in retaliation for complaints he has made.
Lender tries to sell note for Legacy at big loss
The lead bank on the massive Legacy development along 146th Street in Carmel has put the note up for sale with an asking price of about $15 million—less than half what lenders have sunk into the project.
FEIGENBAUM: Right-to-work debate could create sparks in Legislature
The bulk of legislative Democrats, allied with organized labor, are vehemently opposed to having Indiana join almost two dozen other states with right-to-work laws, labeling them as discriminatory against minorities and women, and contending that such laws will do little more than reduce wages and lower the living standards of many Hoosiers.
DINING: Getting to the Greek (again)
Third in a month-long look at restaurants within easy reach of Carmel’s new Palladium.
Tight supply of used vehicles drives up values
Used-car prices are on the rise. Last month, the average used-car transaction was for $19,345 vs. $16,586 a year earlier, according to Edmunds.com. Last year, used-vehicle prices generally were 10 percent to 15 percent higher than in 2009.
Bill seeks to boost investment credit, startups
The legislation, assigned to a committee on Wednesday, would increase the maximum for venture capital tax credits from $500,000 to $1 million, helping high-potential startups attract outside funding.