Sandor plans HQ move from midtown Indy to Carmel

February 17, 2010
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Strip-center specialist Sandor Development Co. is moving its headquarters to Hamilton County after almost 50 years in Indianapolis. Sandor bought the 56,000-square-foot Standard Management Building at 10689 N. Pennsylvania St. in December. The company plans to move its 35-employee operation to the first floor of the three-story building within six months, IBJ reported in the Feb. 15 print edition. The privately held company had drawn up plans for a new headquarters on a vacant lot just north of its 22,000-square-foot offices at 2220 N. Meridian St., but the real estate downturn made building an office less economical than buying a quality existing building at a distressed price. Near North Development Corp. officials hope to find a company or companies interested in developing or reusing a cluster of Sandor-owned properties northwest of 22nd and Meridian streets. The company owns a vacant lot north of its office building and a retail structure to the south that has tax preparation firm Jackson Hewitt as a tenant. Any ideas for what would work here? Here's the full story: Sandor leaving midtown for Carmel. (Subscription required: You can get one year of the print edition, everything online and the book of lists for only $69.)

  • Sign
    They just placed a new sign on the empty lot with a picture of the proposed building. Maybe they're still going to build it and lease it out?
  • So...
    Suburban strip mall developer moves to suburbs. Not a surprise. But with 20%+ suburban office vacancy rate, I hope they're not counting on getting tenants to make the payments on the new place anytime soon.
    • Agree
      Thundermutt, I believe your statement is true for urban or suburban markets. Hopefully as we come out of this economy we get quality rather than quantity. With Sandor being in Carmel they will see first hand daily the beginnings of "New Urbanism" and that it does have a place in the burbs
    • Sign
      Shane: They're offering both the lot and the plans for sale. I wouldn't expect them to go ahead and build unless they have a signed lease with a new tenant.
    • Tsk, tsk.
      Gee, I'd like to help Sid Eskanazi out but there are a few more properties in the area I'm more concerned about, like the former Winona Memorial Hospital for one. Who's working on that?
    • okay, but....
      since they are moving, does that mean they are hiring?
      • working at Sandor
        Trust me -- you don't want to work there! If you do, don't say I didn't warn you.

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      1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

      2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

      3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

      4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

      5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.