Property Lines - Scott Olson

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Real Estate & Retail

Sandor plans HQ move from midtown Indy to Carmel

February 17, 2010

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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