Pan Am Plaza building exodus

February 8, 2008
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IBJ reported Jan. 21 that USA Diving, USA Gymnastics, USA Track & Field and U.S. Synchronized Swimming were considering relocating to the Disciples of Christ building on East Washington Street. None of the officials for those sports-sanctioning bodies would confirm the move.

Some sources hinted that the Indiana Sports Corp. was somehow involved in the move, but ISC officials denied it.

Officials for NAI Olympia Partners, a locally based real estate brokerage firm that handles the Disciples of Christ building, declined to comment.

Four days after that story ran, USA Diving, U.S. Synchronized Swimming and USA Track & Field submitted a government filing indicating they will renovate 16,400 square feet at 132 E. Washington St., which is the Disciples of Christ building. There’s no word on USA Gymnastics’ plans.

USATF is located in the soon-to-be demolished RCA Dome, while the other three are located in the Pan Am Plaza. Sources had said the four bodies are looking to possibly consolidate themselves into one home.

Meanwhile, real estate experts said, California-based Coastal Partners LLC, which bought the Pam Am Plaza building from ISC in 2003 for $8 million, is looking for more for-profit corporate clients for its building in an area soon to be adjacent to a sparkling new Convention Center expansion and the $700 million-plus Lucas Oil Stadium.

Is finding a common home a good move for the sports-sanctioning bodies? And what is the future of the Pan Am Plaza?
  • Co-location of these governing bodies seems like it would provide an opportunity to look at potential synergies within their operations and reduce costs, right? Bottom line is I'm glad they all continue to see Indianapolis as the place where it makes sense for them to call home...and if co-locating is one strategy that will allow them to extend their stay here in Indy - great!

    I predict that as soon as ISC sells the building and Plaza, they will be re-locating as would make sense for them to be close to these 4 organizations - anyone know if there is additional space available in that building?

    Also worthwhile to note that the 500 Festival (who of course put on one of the largest annual sporting events in our city) is right around the corner from this building in their new digs...
    SO the real question is back in the first quarter of 2008 what was the going square footage rate? What would have 32000 sq feet cost annually? If you throw in an 12 year lease does that help or hinder the price? Inquiring minds would love to know.

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