The nearly 1.1-million-square-foot campus, which includes five office buildings and one small retail building, was purchased by Interamar and Typerion Holdings for an undisclosed price.
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An affiliate of the automotive lubricant company acquired the two-story building near the Fashion Mall at Keystone last year for $9.5 million.
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Plans call for the 22,500-square-foot flex office building to be built on a 1.72-acre lot near the Indianapolis Metropolitan Airport.
The federal agency is reportedly eyeing an office space near Interstate 465 and U.S. 31.
The owners of central Indiana’s largest office park said they are nearly finished with a second phase of renovations to the campus, which includes new outdoor amenities that will allow workers to hold meetings at a lakeside amphitheater and enjoy recreational activities.
DuCharme, McMillen & Associates Inc. will occupy slightly more than one-half of its Keystone at the Crossing building when it moves there next year.
Tighter in-office mandates and the high cost of eating out are driving more workers to corporate cafeterias, where upgraded amenities and better food are used to lure staff back.
The 115-year-old law firm intends to occupy an entire build-to-suit office building, which is scheduled to be part of Phase III of the dining, entertainment and business district.
Philadelphia-based Rubenstein Partners has rebranded the office park to reflect its location as an entryway into Carmel.
The downtown Minton-Capehart Federal Building and the Maj. Gen. Emmett J. Bean Federal Center in Lawrence were deemed “not core to government operations” by the General Services Administration.
Increasing vacancy rates fueled by both the pandemic and changing attitudes about what company executives and workers want in their office space have led Carmel leaders to look at how to give the corridor a second act.
Experts say some improvements—particularly those focused on wellness—help soften the blow for employees returning to their cubicles after growing acclimated to working from home.
Indianapolis’ largest accounting firm said its move to a new office within the same 96th Street business park will give it a chance to reconfigure its workspace to fit the realities of the post-pandemic office environment.
One of the largest office complexes in downtown Indianapolis officially changed hands this week, with the new owners eyeing an update for the property that could result in its partial conversion to a hotel.
More than $36 million already has been invested into the campus over the past eight years, with updates to building systems, indoor and outdoor amenities, lobby spaces, restrooms and facades.
The 1.08 million-square-foot complex is expected to sell for significantly less than the $150 million it fetched in 2019, real estate sources told IBJ.
It’s a challenge hitting urban centers across the United States. Downtown office buildings are seeing their values plummet and vacancy rates climb due to space consolidation and a continued hesitancy toward renewals and new leases following the pandemic.
KennMar is investing millions of dollars to remodel and refurbish the office park. The company declined to give a precise price tag for the project but acknowledged it is a little shy of the original $12 million it cost to build the complex more than 50 years ago.
A growing number of developers are considering converting empty office towers into housing as part of an effort to find uses for properties that emptied out during the pandemic.
The tech giant, which has been cutting costs and restructuring its real estate in the face of a possible economic downturn, put three contiguous floors at Salesforce Tower in downtown Indianapolis on the market for sublease.
The 18,267-square-foot restaurant, which is open to both OneAmerica Tower tenants and the outside public, has been vacant since Sahm’s Restaurant Group closed its cafeteria there last fall.
Featuring an exterior of clear and light-colored glass, the building would replace the current headquarters of the American College of Sports Medicine while giving the group a new home.
