IBJNews

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

Back to TopCommentsE-mailPrintBookmark and Share

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.
 

ADVERTISEMENT

  • 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.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Really, taking someone managing the regulation of Alcohol and making himthe President of an IVY Tech regional campus. Does he have an education background?

  2. Jan, great rant. Now how about you review the report and offer rebuttal of the memo. This might be more conducive to civil discourse than a wild rant with no supporting facts. Perhaps some links to support your assertions would be helpful

  3. I've lived in Indianapolis my whole and been to the track 3 times. Once for a Brickyard, once last year on a practice day for Indy 500, and once when I was a high school student to pick up trash for community service. In the past 11 years, I would say while the IMS is a great venue, there are some upgrades that would show that it's changing with the times, just like the city is. First, take out the bleachers and put in individual seats. Kentucky Motor Speedway has individual seats and they look cool. Fix up the restrooms. Add wi-fi. Like others have suggested, look at bringing in concerts leading up to events. Don't just stick with the country music genre. Pop music would work well too I believe. This will attract more young celebrities to the Indy 500 like the kind that go to the Kentucky Derby. Work with Indy Go to increase the frequency of the bus route to the track during high end events. That way people have other options than worrying about where to park and paying for parking. Then after all of this, look at getting night lights. I think the aforementioned strategies are more necessary than night racing at this point in time.

  4. Talking about congestion ANYWHERE in Indianapolis is absolutely laughable. Sure you may have to wait in 5 minutes of traffic to travel down BR avenue during *peak* times. But that is absolutely nothing compared to actual big cities. Indy is way too suburban to have actual congestion problems. So please, never bring up "congestion" as an excuse to avoid development in Indianapolis. If anything, we could use a little more.

  5. Oh wait. Never mind.

ADVERTISEMENT