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AT&T building's new owner targets first-floor retail

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More than 10,000 square feet of ground-level space will be available to a restaurant and other retailers following the sale of the AT&T building at 220 N. Meridian St. in downtown Indanapolis.

Geis Properties, a division of Streetsboro, Ohio-based Geis Cos., purchased the 558,000-square foot building for $16.5 million late last month from AT&T, said John Robinson, a broker with the Indianapolis office of Jones Lang LaSalle.

Jones Lang LaSalle is listing more than 150,000 square feet of office space on floors eight through 14 of the 20-story building. Additional office space should become available as AT&T gradually reduces its presence in the building, Robinson said.

“Physically, it’s in great shape,” he said of the 39-year-old building.

Renovations to the first floor will include improvements to the lobby and an outdoor seating area on the south side of the building, Robinson said.

Roughly 6,000 square feet of space is available for a high-end restaurant and another 5,000 square feet for other retailers.

Brian Epstein of the Urban Space brokerage is listing the retail space.

AT&T never publicly marketed the building and instead recruited the Chicago office of Jones Lang LaSalle to find a buyer, Robinson said.

Geis will manage the property.
 

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  • bus stop to be minimized
    Regarding concerns about bus riders hanging out in front of the potential spot for an outdoor restaurant patio -- hopefully once the new transit hub is completed downtown (south of the City-County Building)there will not be as many people hanging out at all of the stops located along the current downtown bus transfer loop. Most will ride to the transit hub and wait to exchange buses there.
  • Good luck
    I look at this building from my office everyday and I agree it is in good shape and they have recently done some work to make it more appealing. However, good luck trying to sell someone on putting a nice restaurant and retail space right next to the bus terminals right in front of the bldg. Who is going to want to sit outside right next to the crap that goes on at that bus stop?
  • Star or Cummins Opportunity?
    This means more vacant space in the central business district. Howver, it could provide an opportunity for the Star or Cummins as it is a large block of space that could be renovated to suit the tenant's needs. I would rather see the Star in a building in the heart of the city than occupying what should be true retail space if it were to move to Artistry as has been rumored. A move here by Cummins would avoid the construction of more office space downtown that is just not needed at this time.

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