E-mail marketing specialist ExactTarget is taking space in a third downtown office building after it quickly outgrew existing space.
The company has inked a deal to take the entire 21,000-square-foot seventh floor of the Century Building at 36 S. Pennsylvania St., and may take additional space on two other floors now occupied by Steak n Shake.
The 1910 Century Building is the third historic structure where ExactTarget’s roughly 500 local employees will work. The others are the 1922 Guaranty Building at 20 N. Meridian St. and the 1916 Gibson Building at 433 N. Capitol Ave.
The move will provide “immediate relief to our space constraints” at both the firm’s headquarters in the Guaranty Building and its technology center in the Gibson Building, said Mitch Frazier, a company spokesman.
“We’ll continue to evaluate space requirements as we build our operations on the West Coast, in the U.K. and Australia,” Frazier wrote in an e-mail, referring to the company’s recent purchase of CoTweet in San Francisco, Keymail Marketing in the United Kingdom, and mPath Global in Australia.
ExactTarget had been looking for space in Indianapolis where it could consolidate all its local operations in a single location—a move that would make sense from an economic and efficiency standpoint, said Jon R. Owens, a principal in Cassidy Turley.
Such a move likely would happen before 2013, when the company has an option to exit at least two of its lease deals.
“Finding a site that’s suitable and affordable is a challenge today, and getting a building built and financed is another challenge,” Owens said. “They’ve looked at some existing locations to try and consolidate into but for whatever reason they weren’t excited about them.”
ExactTarget CEO and co-founder Scott Dorsey was not available for an interview. Neither was Jenna Barnett, a senior vice president and principal at Halakar Real Estate who represents ExactTarget on its office lease deals.
The company’s new space in the Century Building previously was occupied by staffing firm Princeton One. Other tenants include Denison Parking, the Steak n Shake restaurant operations of San Antonio-based Biglari Holdings Inc., and the restaurants O’Reilly’s and Coaches on the first floor.•