Tax consulting firm moving to Keystone at the Crossing amid park’s $35M overhaul
DuCharme, McMillen & Associates Inc. will occupy slightly more than one-half of its Keystone at the Crossing building when it moves there next year.
Office Complexes
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Keystone at the Crossing office park ownership changes hands
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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Lucas Oil Products moves headquarters from California to Indy’s Keystone corridor
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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Local firms partner to buy Capital Center office towers for $35M
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.
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Central Indiana’s largest office park secures new loan, additional investment
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.
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Articles
Stricter return-to-office policies are boosting growth for caterers
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.
Law firm Ice Miller moving downtown HQ to new 11-story building in Bottleworks District
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.
Parkwood Crossing—central Indiana’s largest office park—gets new name
Philadelphia-based Rubenstein Partners has rebranded the office park to reflect its location as an entryway into Carmel.
Two major local government buildings put up for sale by Trump administration
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.
Carmel looks to revitalize aging U.S. 31 business corridor
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.
Office building owners finally see payoff from millions in upgrades
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.
Accounting firm KSM announces move to new nearby office
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.
Keystone at the Crossing office park on the market as sector’s struggles continue
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.
Downtown office properties are facing tough financial years—but mall project offers hope
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.
Indy’s landmark Pyramids are undergoing a facelift
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.
Cities reviving downtowns by converting offices to housing
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.
Salesforce giving up 25% of its space in state’s tallest building
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.
OneAmerica Tower reopening downtown restaurant, coffee shop on ground floor
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.
Shimmering hotel, office center planned along downtown’s Canal Walk
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.
Health care real estate firm Cornerstone forms joint venture with KKR
Indianapolis-based Cornerstone Cos. Inc. said it teamed with the New York City-based global investment giant to acquire and develop more than $1 billion in real estate assets over the next few years. The deal includes the recapitalization of 25 Cornerstone properties.
Sources: Rolls-Royce planning to vacate two-thirds of its downtown campus
The United Kingdom-based aircraft engine manufacturer is expected to jettison about 270,000 square feet of office space on its 2.2-acre campus at 450 S. Meridian St. About 3,000 people worked in the company’s downtown offices prior to the pandemic.
Turner Woodard sells majority stake in historic Stutz property
The new majority owner says it plans to retain the Stutz property’s historic character but isn’t yet revealing details about its plans for the 110-year-old downtown complex.
Indianapolis-based residential developer plans Carmel HQ project
Indianapolis-based SC Bodner Co. is planning to build and move its headquarters into a $6 million office development along U.S. 31 in Carmel, according to a proposal filed with the city.
Major downtown office users reevaluating space needs, but pandemic’s impact still hard to gauge
Big tenants such as Rolls-Royce and Salesforce say they’re reevaluating their space needs as most of their local employees work remotely. Real estate experts say they’re unlikely to make decisions until after the pandemic subsides.