The Great Recession put the $1 billion Duke Realty Corp. project years behind schedule, but progress picked up again in 2011 and 2012. A tipping point for momentum was the long-anticipated Meijer store’s opening in 2014.
An Indianapolis City-County Council panel on Monday night unanimously advanced proposals that would help Duke Realty Corp. move its headquarters from Carmel to a new $28 million office building it would build in Indianapolis.
The publicly traded company wants to leave the Parkwood Crossing office park in Carmel and is requesting $2.9 million in the form of a bond issue from the city of Indianapolis to help finance a new headquarters.
The massive deal—which includes 6.6 million square feet of space spread across 71 buildings that are in operation and five that are under construction—will leave Duke as solely an industrial real estate company.