Local office, industrial markets continue hot streaks in first quarter
Vacancy rates in both sectors continued to shrink in the first quarter as office and industrial tenants consumed more leased space.
Commercial Leases
Articles
Warehouses now more valuable than office buildings, thanks to Amazon
Despite a lot of construction, warehouses are being leased as soon as the cranes come down. Indianapolis, Phoenix and California’s Inland Empire are among the hot markets nationally.
Thompson Thrift deviates from playbook with restaurant-anchored Fishers project
The $110 million Yard at Fishers District will feature about 15 restaurants, including two St. Elmo-owned concepts; a Sun King tasting room; a dual-branded hotel; and hundreds of apartments.
Angie’s List becomes largest tenant in renovated downtown building
As part of its local downsizing, Angie’s List has signed a lease to occupy four floors of a historic downtown building, becoming the largest tenant in the 12-story office tower.
Circle Centre owner suing Cinnabon franchisee for unpaid rent, again
The owner of Circle Centre has sued the franchisee at least twice before. The sweet pastry purveyor then signed a 10-year lease extension in 2016.
Wanted: Headquarters for prime Monument Circle spot
One of the most prominent office buildings downtown has become available for lease and is expected to generate plenty of interest from prospective tenants coveting a prized Monument Circle address.
Anthem to leave Monument Circle HQ, move top execs to Virginia Avenue
Anthem decided not to renew its lease on the former J.C. Penney department store, which was refurbished for the insurance giant in the 1990s.
Guaranty Building magnet for tech firms
Salesforce has left for its namesake tower across the Circle as part of a big downtown expansion, but the nearly emptied Guaranty is making a quick comeback and attracting prized tenants.
Tech activity driving downtown office demand
Vacancy continues to decline as Salesforce takes more space in the city’s tallest building and other tech firms put down stakes. And with the greater demand, rents are escalating.
Changes coming to second floor of Salesforce Tower
Downtown Indy will move down from the 19th floor to take a portion of the space while the rest will be converted into a tenant lobby, featuring a bar and putting green.
Co-working space commits to Marietta building on Mass Ave
New York-based Industrious said it will occupy two floors in the structure under construction by local developer Gershman Partners. It’s the second co-working provider to secure a downtown locale in two months.
Law firms buddy up to share office space, expenses
For many firms, splitting office space and sharing resources is a strategy that makes good business sense. But such arrangements aren’t without challenges.
Growing ad agency takes prime space on Monument Circle
Bradley and Montgomery has renovated the second floor of the Indianapolis Power & Light Co. building, adding modern touches while keeping some organic elements.
Short-term leases help small firms grow
Certain companies don’t like committing to the usual five-year-or-longer leases, because they’re not comfortable predicting how much space they’ll need that far in the future.
UPDATE: Salesforce plotting real estate changes
The company's lease in the Gauranty Building, 20 S. Meridian St., will expire in the first quarter of next year, while a lease for the Century Building, 36 S. Pennsylvania St., runs until 2021. "Salesforce has no plans to vacate the Century office at this time," a spokesperson said.
Coroner’s office wants out of downtown building by January
The office will likely remain in the 25,000-square-foot, privately owned building at 521 W. McCarty St. the next two years while the city explores whether to move the office or have a building constructed.
Indy cracks nation’s top 10 for tech-firm office deals
Firms signed lease deals for nearly 1 million square feet of office space between mid-2015 and mid-2016 in Indy’s metro area, led by a mammoth deal for Salesforce.com, according to a national study.
Kite Realty’s focus on primo locations serving it well
Kite Realty Group Trust has built an admirable record of picking winning locations for its centers and keeping them vibrant with tens of millions of dollars in upgrades.
Colts sign new lease for airport hanger after paying for improvements
The Indianapolis Colts organization is getting a break on rent for its 20,000-square-foot hanger at Indianapolis International Airport after doing some rehab work.
Two tracks of negotiations helped seal huge Salesforce expansion
Tech talent and naming rights on the state’s tallest building were key factors that helped Indianapolis secure an 800-employee hiring commitment from Salesforce.com this month.