Fleeing the ... suburbs?

October 2, 2007
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LexingtonAugust Mack Environmental said today it will move its corporate headquarters from Castleton to downtown's Lexington at Meridian. The Indianapolis-based environmental consulting company plans to take 16,200 square feet in the former home of VanAusdall & Farrar Inc., joining Brown Mackie College, which is taking 25,500 square feet. Brokers say such a migration, away from the suburbs, is rare and should bode well for the downtown office market. The Lexington, which is undergoing a $10-million renovation by Shiel Sexton, offers some of the perks of suburban offices, including parking on site. The building now is 100 percent leased, with the project a couple of months away from completion. Shiel also plans to build new office space surrounding the historic building. The space was marketed by Colliers Turley Martin Tucker.
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  • awesome!
  • Is there any idea of what additional office space Shiel plans to build?
  • Sweet! This is awesome news to hear, now if only more suburban companies as well as retailers AND residents would move downtown too...

    Also, perhaps it's just me but this building looks A LOT like the one AUL just got done renovating. The Gibson Building i believe. Which is a great thing!
  • berwickguy -- I think the additional office space is the two-story building to the right in the rendering (is that true Cory?). I just looked at an overhead shot of the area and it looks like there used to be some smaller buildings attached to the main 4-story building, but I'm pretty sure they were torn down at the beginning of the project and that's just dirt right now.

    Impressive that they preleased 100% of this thing.
  • On the topic of suburbs, but not related to this migration at all, any news on River Crossing at 96th Street & Allisonville? Earth movers were performing pre-work last spring, but no activity since.

    I thought I read there were more approvals that needed to occur. So what's the status? Anyone?
  • Sorry. Correction....River Place. Not River Crossing.
  • Fantastic news. More of this needs to happen. BTW, anyone have up-to-date and accurate information on downtown employment numbers?
  • This is great news! Now I'd like to see some other companies move Downtown. It'd be great if a higher profile company like Finish Line would set up shop downtown.
  • What do you think it would take to get a company like Marsh or Finish Line to move downtown? You think the larger the company the closer they'd want to be to the heart of the city, near nice hotels, restaurants and the airport.
  • PS. I'm aware both Marsh and Finish Line aren't too secure right now financially. So putting that aside.
  • What? I'm not sure I can fully comprehend such a move...in Indianapolis?! And in a renovated building no less! Maybe it'll set a trend? Methinks that's wishful thinking, but at least this is a start...
  • Cory, do you know the last time new MTOS was built in downtown?
  • When they say on site parking, I'm hoping they mean behind the building. Last thing I want to see is suburban look buildings surrounded by parking lots popping up downtown. Walk-up friendly buildings in downtown I think are very important.
  • MTOS? Educate me. Thanks!
  • MTOS = multi tenant office space
  • thanks!
  • Good question, Jimmy. I think it's been at least five years.
  • Wasn't the new Simon Building a MTOS?

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