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%.
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.
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.
The survey is one of the first broad-based looks at how different work arrangements impact corporate performance.
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.
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.
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.
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.
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.
Employers have new leverage as the labor market has cooled, leaving workers less room to be choosy.
The findings illustrate the challenges faced by organizations as they assess office-space needs.
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.
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.
U.S. offices face higher stress than other real estate sectors because of weak demand as remote work gains widespread acceptance.
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.
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.
The building was purchased from former occupant Girls Inc. by an affiliate of Merchants Bank for $3.1 million in May.
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.
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.
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.
