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.
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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.
Developers planning four-story office project on Mass Ave
The development team hopes to land a single office tenant to occupy most of the building, although the first floor could also consist of retail or other commercial uses.
Logistics company to move into Circle Centre Mall space
Direct Connect has about 250 employees based in Indianapolis, with plans to hire an additional 150 workers by the end of 2023.
Some bosses say remote work kills culture. Many companies disagree.
While scaling culture remotely might have challenges, companies say it’s worth it. Employees have more freedom, and employers can access a larger talent pool, including workers who want or need flexible work.
Emmis founder: ‘Never say never’ on sale of Monument Circle HQ
Jeff Smulyan, chairman, CEO and founder of Emmis, said the company is weighing all its options for what could be done with the prominent downtown property.