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Web services firm plans downtown office, 300 jobs

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San Francisco-based Appirio Inc., a cloud-computing service provider, announced Wednesday morning that it plans to spend $2 million to open a downtown Indianapolis office that will employ 300 people by 2015.

The company, which has offices in the United States, Europe and Asia Pacific, will initially occupy 12,500 square feet on the 11th floor of the Pan American building. The investment will go toward leasing, renovating and equipping the space, the company said. The company has options to lease additional floors as it expands.

The Indianapolis location, expected to open in October, is the company’s second in the United States.

“Opening an office and cloud development center in Indianapolis gives Appirio access to a large, highly educated talent base with close proximity to customers and partners,” Appirio CEO Chris Barbin said in a prepared statement.

The Indiana Economic Development Corp. said it will provide the company up to $5.6 million in performance-based tax credits and up to $200,000 in training grants based on its job-creation plans. The city of Indianapolis will consider additional property-tax abatements.

Founded in 2006, Appirio has more than 500 employees in five countries. The company has moved more than 2 million users from 350 companies to cloud platforms such as Salesforce, Google Apps and Amazon Web Services.

Appirio is not the only company moving into the Pan Am building, which has struggled to attract tenants in recent years. The adjoining Pan Am Plaza is being renovated.

North Carolina-based Quintiles, a contract researcher for drug companies, said it will lease 12,000 square feet in the building for the next five years in a move to get closer to Eli Lilly and Co., one of its major clients.

The office, which initially will employ 50 people, is a collaborative project of the two companies, Quintiles spokesman Phil Bridges told the IBJ.

“We’ve been working on this collaboration for three years,” he said. “The goal is to develop an integrated approach to eliminate inefficiencies and use big data to drive better drug development.”

Quintiles is set to move in Sept. 25. The office could employ as many as 65 by the end of the year.

The addition of Appirio and Quintiles, two companies that will bring high-paying jobs to downtown, will provide a much needed boost for the Pan Am building.

The 12-story, 138,800-square-foot structure is only about 64-percent occupied and showing signs of wear. Most of its first-floor retail space is vacant, its sidewalks are crumbling and the lobby could use an update.

The building was almost 100-percent occupied when a predecessor to Sacramento-based Coastal Partners LLC bought it for $8 million in 2003.


 



 

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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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