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Real Estate & Retail

Artistry: Future headquarters for The Indianapolis Star?

February 28, 2013

Artistry IndianapolisMilhaus Development is building its $30 million Artistry project with a surprisingly large first-floor commercial space. It's rare for a developer to build that big a space without a tenant on the hook. Though Milhaus has not announced its plans for the 68,000-square-foot space, it would seem to be a good fit for The Indianapolis Star. It sits within a few blocks of the newspaper's current campus, is roughly the right size (if a little small), and would offer high-profile, first-floor access and convenient parking. Gannett, the Star's owner, announced last year that it wants to sell the series of buildings at New York and Pennsylvania streets the newspaper has occupied since 1907. Gannett, which is represented by CBRE, has been looking for about 80,000 square feet with a first-floor presence in downtown. There aren't many office spaces that fit the bill: One of them is the Artistry at 451 E. Market St., the mixed-use replacement for the former Bank One Operations Center. Other possibilities the Star may be considering include 500 N. Meridian St. (Safeco Building) and Regions Tower, both of which have large blocks of space available and could accommodate a first-floor profile. Star Media Publisher Karen Crotchfelt said in an email that the company still hopes to move by the end of 2013: "We are in negotiations with multiple possible locations right now and have not made any final decisions," she wrote. Milhaus principal David Leazenby would not say whether the Star has looked at the Artistry space. "It's been shown to numerous potential tenants," Leazenby wrote in an email. "Until we have signed leases, we don't discuss specifics."

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