History on the block
This example of Jacobethan Revival architectural style, the Glossbrenner Mansion at 3202 N. Meridian St., is about to be listed for sale.
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Articles
Residents file suit against apartment complex
A class-action lawsuit has been filed against the owners of a Noblesville apartment complex after a June 10 fire destroyed more than 20 units and multiple cars. The flames broke out in a carport at Deer Chase Apartments, and fire crews had a hard time getting enough water pressure from complex hydrants. The suit says investigators discovered someone had partially closed the main water line to the complex. The lawsuit, on behalf of 80 to 100 residents, says apartment management had an obligation to make sure the hydrants were in working order.
Whitsett’s Lockerbie project will be market rate
Whitsett was counting on selling state-issued affordable housing tax credits to finance the $27 million project, but it wasn’t among the projects awarded credits.
Company news
WellPoint Inc. lowered its 2012 profit forecast 23 cents per share, or nearly 3 percent, due to a $90 million settlement in a class-action lawsuit. Lawyers for former policyholders of Anthem Insurance Cos. Inc., the predecessor of Indianapolis-based WellPoint, disclosed the settlement Friday afternoon. Pending approval by a federal judge, the settlement would cover the claims of more than 700,000 former policyholders, whose stakes in Anthem were undervalued, according to the lawsuit, before the company’s 2001 conversion from a mutual insurance company into a publicly traded one. Because of the settlement, Anthem now expects to earn a 2012 profit of $7.57 per share, down from a previous estimate of $7.80 per share.
Hancock Regional Hospital is moving to acquire nearly 50 acres in McCordsville, even though it has no specific expansion plan. According to the Greenfield Daily Reporter, the hospital’s board of trustees approved spending up to $1.2 million for the 48.5-acre parcel in the Villages of Brookside development. Hancock Regional, based in Greenfield, has made a tentative offer for the land to its current owner, Cincinnati-based Fifth Third Bank. The offer hinges on an environmental assessment that is still under way. If the bid is accepted, said Rob Matt, Hancock Regional’s vice president of development, the land could become the location for additional medical office space, another wellness center or another surgery center. But in the short term, the hospital likely would lease the land for farming. “We’re not exactly sure what the future holds, but we think McCordsville is a great location for potential future expansion of a variety of health services,” Matt said. The land was part of a 300-acre development started in 2005. But the sections of the project that were marked off for business and apartments have been slow to develop because of the housing slump, financial crisis and recession.
Eli Lilly and Co. invested $20 million in a Chinese pharmaceutical company in an effort to build a portfolio of branded generic medicines in the fast-growing Asian market. Novast Laboratories Ltd., based north of Shanghai, received a $10 million initial investment from Indianapolis-based Lilly five years ago. The new money, announced June 12, will fund an expansion of Novast’s manufacturing capabilities. Lilly is working with Novast to develop a catalog of generic versions of medicines not created by Lilly that will be branded with the Lilly name. Down the road, Novast also may take on manufacturing responsibilities for new drugs Lilly launches in China and other Asian countries. Since 2009, Lilly has rapidly ramped up sales and research functions in China, and now employs more than 3,000 people there. In June, Lilly announced the opening of a research and development center in Shanghai focused exclusively on diabetes. It employs 150. Lilly's sales in China increased 31 percent last year, to nearly $420 million, according to company officials.
An Indian-born physician fired by St. Vincent Health is suing the hospital network in federal court on charges of discrimination and harassment. Seema Nayak filed her suit June 13 and is seeking past and future pay in addition to other damages for the hospital’s “malicious and/or reckless conduct.” St. Vincent officials did not return messages seeking comment on the suit. Nayak’s suit follows a complaint she filed in October 2010 with the U.S. Equal Employment Opportunity Commission, which granted her the right to sue. Her employment contract was not renewed by the hospital in June 2010. She began her first-year residency program at St. Vincent in July 2007 in the obstetrics and gynecology department. Though Nayak exceeded performance standards during her first- and second-year residencies, according to the suit, she became the target of discrimination from other residents due to her accent and Indian origin. Later, her suit alleges, St. Vincent also pressured her to return to work quickly after taking maternity leave and then retaliated against her by giving her an especially difficult residency rotation.
Leases/leasing contracts
-Stanley Security Solutions leased an additional 26,191 square feet of office space at One Concourse at Crosspoint, 9998 Crosspoint Boulevard. The tenant was represented by Nick Arterburn of CBRE. The landlord, Edgeworth Laskey Properties LLC, represented itself.
-Draper Manufacturing leased 8,000 square feet of industrial space at 4008 W. 10th St. The landlord, Speedway Industrial Park, was represented by Bill Byram of Cassidy Turley. The tenant represented itself.
-Real Fitness Indy LLC leased 6,390 square feet at Northview Mall, 1706 E. 86th St. The tenant was represented by Molly Welch and Ralph Balber of Newmark Knight Frank Halakar. The landlord, Northview Properties, represented itself.
-Matt the Miller’s leased 5,334 square feet of retail space in Carmel City Center 100 City Center Drive, Carmel. The tenant was represented by Robyn Smart of Lee & Associates and Mary Bresnahan of CBRE. The landlord, Carmel City Center LLC, was represented by Melissa Averitt of Pedcor.
-Perfect Smiles Dental Care leased 3,105 square feet at 7440 Shadeland Ave. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, 7440 Shadeland LLC, was represented by Tom Frank of Summit Realty Group.
-The Little Nail Shop leased 2,975 square feet at Meridian North, at 96th and Meridian streets. The tenant and landlord, Landmark Properties Inc., represented themselves.
-Axum Ethiopian Restaurant leased 2,340 square feet at 11210 Fall Creek Parkway. The tenant and landlord, Fall Creek Shoppes LLC, were represented by Matt Jackson of Ambrose Property Group.
-Keller’s Jewelers leased 2,300 square feet of retail space at Fortune Plaza, 9655 E. US Highway 36, Avon. The landlord, Fortune Enterprise B LLC, was represented by Greg Smith of Colliers International. The tenant represented itself.
-Jet’s Pizza leased 1,950 square feet of retail space at Fishers Corner Shoppes II, 11785 Commercial Drive, Fishers. The tenant was represented by Greg Smith of Colliers International. The landlord, FC Realty Forty LLC, was represented by George Dury of Dury Investment Group.
-Penn Station East Coast Subs renewed its lease for 1,800 square feet of retail space at George Thomas Plaza, 1004 N. Shadeland Ave. The tenant and landlord, Ladywood Apartments LLC, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.
-Mr. Dan’s Restaurant leased 1,800 square feet of retail space in Lynhurst Shoppes Shopping Center, 5309 W. 10th St. The landlord, LOR Corp., was represented by Brett Burch of Valenti Real Estate Services. The tenant represented itself.
-Corporate Shirts Direct Inc. 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.
-State Farm Insurance leased 1,300 square feet at Sycamore Springs Office Park, 4545 Statesman Drive, Suite D. The landlord, MSE Realty LLC, was represented by Ralph Balber and Ashley Bussell of Newmark Knight Frank Halakar. The tenant represented itself.
-Noble Roman's leased 1,263 square feet of retail space at Zionsville Station, 78 Brendon Way, Zionsville. The landlord, KLC Realty LLC, was represented by Greg Smith and Joe Tarpey of Colliers International. The tenant represented itself.
-GM Sportswear leased 700 square feet of office space at 5455 W. 86th St. The landlord, Polaris Commercial Investments, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.
Buckingham recruiting tenants for CityWay office building
Structure to be built steps away from Rolls-Royce, Lilly and newly built apartments and retail space.
New rendering: CityWay’s 3-story office building
CityWay developer Buckingham Cos. has begun recruiting tenants for an office building it plans to construct at the northeast corner of Alabama and South streets just east of where it is building The Alexander hotel.
Girl drowns in west-side pond
An 8-year-old girl drowned Sunday night in a pond at the Bayhead Apartments on the far west side of Indianapolis. Wayne Township Fire officials pulled a child from a pond near 38th & Dandy Trail just after 8 p.m. Witnesses said the girl was trying to get something from the water when she slipped and fell in. Rescue attempts by neighbors were unsuccessful and divers spent nearly an hour before finding the girl in 10 feet of water.
HETRICK: Thomas Jefferson on education
Jefferson’s simple grave marker is notable for what it says and what it does not.
Check out new rendering of the $20M Ironworks project
A Wisconsin developer has scaled up its plans for the southwest corner of East 86th Street and Keystone Avenue across from The Fashion Mall at Keystone.
Death of Greenwood woman ruled homicide
The death of a Greenwood woman was ruled a homicide Tuesday by the Johnson County coroner. Michelle Andrews, 45, died from blunt-force trauma, autopsy results found. Andrews was found dead by a friend Saturday night in her apartment at the Stonehedge Apartments, near County Line Road and State Road 135. Police say they are pursuing leads in the case.
Bank seeks to foreclose on local apartment complex
The owners of Arbor Green Apartments on the city’s northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
Police probe out-of-town cop’s death
Indianapolis police are investigating an apparent homicide of a Massachusetts police officer near downtown’s Central Library early Friday morning. Sean Cooney, 27, was found in an alley near the Sylvania Apartments about 2 a.m., suffering from head trauma. He died a short time later at Wishard Hospital. Cooney was a part-time police officer with the Rutland, Mass., police department. He was visiting Indianapolis to make arrangements for a close friend who recently died.
Developer ups retail ambitions for 86th-and-Keystone site
A Wisconsin developer has beefed up plans for the southwest corner of East 86th Street and Keystone Avenue across from The Fashion Mall at Keystone.
Mainstreet signs operator for new health care properties
A Cicero-based developer has signed a national senior-living company to operate four new properties it plans for Indiana.
City delays approval of downtown parking garage
A local developer’s plans for a parking garage, part of an $85 million project, met resistance from a city official who said the structure’s design needs to be more “pedestrian-friendly” for the area of Illinois and New York streets.
Children’s Museum selects developer for Winona site
Local affordable housing developer The Whitsett Group has been chosen to redevelop the site on North Meridian Street. Its other major development is a $22 million project set for the former Keystone Towers site.
First stage of $85M downtown project up for approval
The city is set to hear a request on Thursday by a local developer to build a five-story parking garage at the corner of New York and Illinois streets downtown. The garage is part of a development that would be anchored by a Marsh store.
Sales of existing homes up nationally in April
Modest increases in home sales are the latest sign that the market could be starting to turn around nearly five years after the housing bubble burst. Still, housing construction remains at roughly half the pace that economists consider a healthy market.
Retail lineup taking shape for CityWay project
CityWay has landed a fine dining restaurant, a mixology bar, a Qdoba and a frozen yogurt shop as developer Buckingham Cos. turns its attention to the retail portion of the $155 million mixed-use project.