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Hoosier Lottery moving to Meridian Street building

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The owner of a historic downtown building purchased in the midst of the recession will fill two thirds of its space with a high-profile tenant—The Hoosier Lottery, which is moving from the Pan American Plaza building it has occupied since the lottery was created in 1988.

The lottery signed a lease Sept. 14 and will move in January to the Buick, a 60,000-square-foot building at 13th and Meridian streets owned by principals of Shiel Sexton Construction. An $8.5 million renovation of the structure by Shiel Sexton began in the fourth quarter of last year.

Built in 1923 as a Buick dealership, the building previously housed a self-storage facility. The lottery will occupy the first and second floors of the three-story building.

The cost of the space over the initial 10-year term of the lease will save the government entity $105,000 a year, said Megan Wright, the lottery’s public relations manager.

The savings isn’t the only benefit of the move. Wright said free surface parking at The Buick will be more convenient for lottery customers, many of whom drive in from other parts of the state to claim their prizes and aren’t comfortable with parking meters or garage parking, which are the only two options around the Pan Am Plaza building.

The 136,000-square-foot Pan American Plaza building was built prior to the 1987 Pan American Games. It is owned by Sacramento-based Coastal Partners. Tom Ott, an employee of Coastal in charge of leasing the building, couldn’t be reached for comment about how much space is now available. Indiana Bank & Trust Co. recently agreed to lease a little more than 12,000 square feet in the building.

The Hoosier Lottery will share its new building with August Mack Environmental, which moved last December to the Buick’s top floor from the Lexington, a 45,000-square-foot building at 12th and Meridian streets that Shiel Sexton principals invested $12 million in after buying it in 2006. The entire building is now occupied by Brown Mackie college.

The Buick and Lexington buildings are among four historic downtown buildings Shiel Sexton principals have transformed into office space.

The other two are the company’s own 33,000-square-foot headquarters at 902 N. Capitol Ave and the 60,000-square-foot headquarters of Gregory & Appel Insurance at 1402 N. Capitol. Shiel Sexton’s building was purchased in 2000 and then retrofitted for $3 million. Gregory & Appel’s building got a $12 million makeover after its purchase in 2004.

Shiel Sexton Executive Vice President Buddy Hennessey said his company continues to pursue buildings in its neighborhood, an area the firm is committed to bringing back to life.

“You can’t just buy one property,” Hennessey said. “You have to buy some adjacencies.

"We were somewhat of a pioneer coming back in from Castleton. We want to be good neighbors.”

Shiel Sexton’s good-neighbor policy sometimes involves partnering with its neighbors. The company announced early this month it is partnering with Clarian Health on a $200 million, two-building project for the hospital system in the vicinity of 16th Street and Capitol Avenue.
 

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  • Lottery
    Hope I have to visit the new offices to pick up a 7 or more figure check some day.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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