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.)

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  • 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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