Hoosier Lottery to buy downtown building for $9.1M
The Hoosier Lottery has leased two floors of the building at 1302 N. Meridian St. since 2011.
Office
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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.
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Owner of downtown’s Capital Center listing two-tower complex for sale
Zeller Property Group, which purchased the 648,000-square-foot property in 2018 for $63 million, has spent more than $18 million to revamp the property. But its occupancy rate is just 61%.
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NBA weekend could be All-Star shot for downtown
Brokers are filling vacant retail spaces with corporate parties, personal events and an assortment of fan-focused pop-ups. They hope the crowds will want to return later for a fun night, a nice dinner or even office or residential space.
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Office holiday parties shun booze and tinsel, push guac and pickleball
In the name of inclusivity, business leaders are opting for year-end celebrations cut totally free from seasonal connotations. And dropping liquor reduces the potential for unprofessional behavior.
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Articles
Study: Letting people work from home boosts revenue growth
The survey is one of the first broad-based looks at how different work arrangements impact corporate performance.
Indiana 250: Mary Beth Oakes, Business Furniture owner and CEO
Mary Beth Oakes began working at Business Furniture—which is celebrating its 101st anniversary this year—as a showroom manager in 1992 and moved up to become CEO and co-owner.
16 Tech pencils in plans for two more buildings after early leasing success
Pre-leasing has begun on two buildings planned for the entrepreneurism-innovation district: a 100,000-square-foot laboratory building and a 40,000-square-foot office structure that would be dedicated to sports- and health-focused tenants.
UPDATE: Indianapolis to move about 550 employees to City-County Building
The three-phased move is intended to create a dense grouping of professionals in the core of downtown and save taxpayer dollars, the city said Monday.
Emmis lists Monument Circle HQ for $35M
The seven-story, 140,000-square-foot structure at 40 Monument Circle was built in 1998 as a dedicated home for Emmis, then a growing media company.
Downtown office space at crossroads, local broker says
John Robinson, managing director for the Indianapolis division of Chicago-based JLL, said during an IBJ panel discussion Friday that he expects at least three of downtown’s 10 major office towers to go through foreclosure or take big losses in a sale over the next few years.
Bosses mean it this time: Return to the office or get a new job!
Employers have new leverage as the labor market has cooled, leaving workers less room to be choosy.
More than one-third of office desks globally sit empty all week long
The findings illustrate the challenges faced by organizations as they assess office-space needs.
Circle Tower owner facing foreclosure for alleged nonpayment
Chicago co-working company Expansive bought the landmark building on Monument Circle before the pandemic. Centier Bank says Expansive still owes $12.9M on its loan and has fallen behind on payments.
After building sale, 500 Festival planning to leave downtown HQ for North Mass corridor
The not-for-profit group that organizes events celebrating the Indy 500 sold its headquarters building in November, in part to tighten its focus on operations and away from property management.
Share of U.S. office buildings in distress surpasses hotel, retail properties
U.S. offices face higher stress than other real estate sectors because of weak demand as remote work gains widespread acceptance.
Employers take different approaches to get workers back in office
The executives of corporate America are stepping up efforts to get workers back into the office, using a combination of threats and incentives to get employees to give up the work-from-home lifestyle they adopted in the first years of the COVID-19 pandemic.
HNI to acquire Kimball International for $485M
Iowa-based HNI said Wednesday that the acquisition of Indiana-based Kimball International will enhance manufacturing capabilities and create a combined company that can better benefit from post-pandemic trends in the markets it serves.
Housing not-for-profits relocating to downtown Indy office building
The building was purchased from former occupant Girls Inc. by an affiliate of Merchants Bank for $3.1 million in May.
Neighboring office buildings on Mile Square’s south side sold to investor
The purchase of the Morrison Opera Place building puts an end to plans previous owner Bruce Bodner had to convert part of the property to apartments. An earlier plan for an 18-story addition was dashed due to the pandemic.
Downtown’s largest employers bet on hybrid work
Cummins, Rolls-Royce, Eli Lilly and Co., AES and Elevance Health are among the city’s largest downtown employers and all say most of their workers have the option of working at home at least part of the time.
Worker burnout even worse than at peak of pandemic
The pain is particularly acute outside the U.S., where the burnout rate has been rising enough to offset slight improvements seen by American workers.
Gallup: Just 2 in 10 U.S. employees have work ‘best friend’
The Gallup survey found a strong link between workers with best friends on the job and profitability, safety, inventory control and retention.
Downtown’s Allen Plaza sold to local investment group
The building’s 58,800 square feet of office and retail space is now mostly vacant, following exits in recent years by Scotty’s Brewhouse, HomeAdvisor and third-party logistics company Backhaul Direct.