Indianapolis-based Theta Chi Fraternity will move its headquarters from College Park to Carmel early next year.
The fraternity bought the single-story office building at 865 W. Carmel Drive for $2.2 million, said Associate Executive Director Jim Powell.
It plans to occupy about 18,000 square feet and lease the rest of the 30,700-square-foot building to existing tenants, including Hamilton National Title LLC.
Located at 3330 Founders Road since the early 1990s, Theta Chi has outgrown its existing headquarters, Powell said. "We're bursting at the seams," he said.
The 8,500-square-foot building is listed for sale with an asking price of $619,900.
In addition to providing some elbow room for the staff of 28, the new facility will include conference and training space. Powell said the organization also is planning to establish a fraternity museum on the site. Officials hope interior remodeling will be done in time for a late-January move.
"This building in Carmel fits our needs very well," he said. "We're very excited."
Theta Chi has about 7,500 undergraduate members and 140 chapters, Powell said.