IBJNews

Lauth headquarters offered for lease

Back to TopCommentsE-mailPrintBookmark and Share

Lauth Group Inc. is looking for new office space after the Indianapolis-based real estate developer's largest investor took control of the building it now calls home.

An affiliate of Chicago-based Inland American Real Estate Trust has taken over ownership of two buildings in the three-building Meridian Corporate Plaza, a Lauth-developed Class-A office complex just north of Interstate 465 between Meridian Street and College Avenue.

Lauth agreed as part of a settlement in bankruptcy court that it would not contest Inland's ownership of Meridian Corporate Plaza Two and Meridian Corporate Plaza One, where it has its headquarters, but Lauth retained control of Meridian Corporate Plaza Three, CEO Bob Lauth wrote in an e-mail.

Inland has appointed the local office of Jones Lang LaSalle to handle leasing and management of the buildings, replacing CB Richard Ellis.

Jones Lang LaSalle has listed Lauth's entire 66,000-square-foot headquarters building as available for lease. The second building, which is about 136,000 square feet, is 96-percent occupied. Amenities in the office park include a five-acre lake, Lulu’s Cafe, a 100-seat conference center and a Four Points by Sheraton Hotel.

Inland in April dropped a federal lawsuit against Lauth and a request for a judge to appoint a Chapter 11 bankruptcy trustee after Lauth conceded control of some properties where ownership was in dispute. Both sides also agreed to the appointment of a special mediator.

Inland invested $228 million in 2007 for an ownership stake in dozens of Lauth properties. But Lauth defaulted on its agreement to pay dividends to Inland in late 2008, and multiple Lauth subsidiaries filed for Chapter 11 bankruptcy reorganization in May 2009.

Lauth’s troubles began in early 2008 as demand dried up for the office, industrial and retail developments that had fueled its rapid growth. The company doubled its revenue from 2004 to 2005, then doubled it again from 2005 to 2006. During the same period, the value of Lauth’s project lineup jumped from $143 million to $592 million.

The company started 2008 with about 450 employees, but layoffs shrunk the staff to fewer than 40 in April.

CEO Bob Lauth did not respond to a follow-up e-mail by press time, so it was not clear how many employees remain or where the company could move.

Lauth Group still controls local office space at Intech Park and Clay Terrace, and its website lists 49,000 square feet of available space in the building it still owns at Meridian Corporate Park.

ADVERTISEMENT

  • Not all bad
    The fact that they are still in the game and survived is promising. Remember this was a great recession, esp in comm real estate and development. Don't bet against these guys.
  • Not sure about that
    I don't think that Lauth built all the buildings that are geared toward race teams. They built the big warehouses and race shops for Force & Prudhomme. But I think any others must have been done by other builders & developers.
  • Plenty of space in Brownsburg
    Message to Lauth: Maybe you should you come out and fill one of the empty buildings you built in Brownsburg. The motorsports teams certainly haven't kept them filled. Maybe the Town of Brownsburg would cut you a deal.
    • wife
      with 40 people working 66,000sf whats the story IBJ is getting week again how's this paperin busness
    • Get a State Lease
      Maybe John Bales can get them a State Lease if they cut Carl Brizzi in the DEAL....
    • Not all Bad News
      It is not all bad news for commerical in Carmel. I am guessing Cory may have missed the press release last week of Browning breaking ground for a new tenant owned 60,000sq foot building at 131st and US/31
    • Lauth
      The news continues to be bad....

    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:
     
    thisissue1-092914.jpg 092914

    Subscribe to IBJ
    1. Here are a few candidates for this new group, "ripped from the headlines." First up, that bizzaro State Senator Brent Waltz; secondly, the unethical Todd Huston, and his contractual arrangements scheme; Finally, but not least of all, the dishonorable Eric Turner. What sayeth you Greg Zoeller?

    2. Good day. I can't hide this great testimony that take place in my life I will love everyone to know it and be partaker that is why I always place it on answer, I am Mrs,Natalie Cuttaia by name, I live in Texas, United State Of America, I want to thank (Mr.Bruce Brandon) for his kindness upon my family life. I never knew that there is still nice lender like this on internet and earth here. Just some Months Back, I was in search for a loan of $100,000,00 as I was running out of money for feeding and rent. I was scammed $6,800 Dollars and I decided not to involve my self in such business again but a Friend of my introduced me to a loan firm due to my appearance and doings. And I told him that I am not interested of any loan deal anymore but he told me that there is still a nice lender who he will recommend me to, and I made a trial and I am most grateful lucky am I today, I was given a loan amount of $100,000.00usd, by this great Company (Bruce Brandon Loan Company) managed by (Mr.Bruce Brandon) If you are in need of a genuine or legit loan or financial assistance and you can be reliable and trusted of capable of paying back at the due time of the funds I will advice you to, contact him via: ( bruce.brandon071@gmail.com ) And you will be free from scams in the internet. All thanks to Mr.Bruce Brandon You are the one who remove me and my family out of poverty. The reason why i am doing this is that, i promise Mr.Bruce Brandon that if i truly got my loan, i will advertize his company and bring customers to his company. Contact him via ( bruce.brandon071@gmail.com )for the Loan you have been looking for..

    3. Hello, We are firm Organization formed to help people in needs of helps,such as financial help. So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email mrsroseberrywilkinsfunds.usa@gmail.com So do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more. Please these is for serious minded and God fearing People. Your Name: Loan Amount: Loan Duration: Valid Cell Phone Number: Thanks for your understanding to your contact as we Await Regards Management Email:mrsroseberrywilkinsfunds.usa@gmail.com

    4. The question is, where could they build a new stadium? It seems in the past year, all the prime spots have been spoken for with potential projects. Maybe in the industrial wasteland area a block past Lucas Oil? I think it needs to be close to the core, if a new stadium is built.

    5. Aldi is generally a great shopping experience. Still, I'm sure YOU wouldn't want to shop there, which I consider a positive.

    ADVERTISEMENT