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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. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

  3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

  4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

  5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

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