Holladay Properties plans $21.4M conversion of downtown Angi building
The South Bend-based developer plans to convert the 12-story Angi Inc. headquarters on East Washington Street in downtown Indianapolis into a 180-unit apartment building.
Office
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With long slate of local projects, construction firm Skender moves offices to fit growing workforce
Skender’s focus on health care, office and municipal projects has reaped millions of square feet of work for the firm in central Indiana since opening its first local office in 2020.
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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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Owner of former Anthem HQ lists building on Monument Circle for sale
Listing the property for sale is a marked change from a years-long strategy of only looking for tenants to lease the sprawling, 213,600-square-foot office building.
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Carmel City Council OKs $19M TIF bond for Proscenium III project
Plans for the project call for 120 apartments, a 125-room high-end hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
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Articles
Capital Improvement Board set to buy Pan Am Tower for $10.5M
The CIB is buying the property as a strategic acquisition tied to the ongoing redevelopment of Pan Am Plaza.
Developer tearing down six-story building by Glendale to build retail, office project
Demolition already has begun on the 56-year-old office structure, which was purchased out of foreclosure for $1.59 million. The developer envisions restaurant, retail and medical office tenants that will vibe with continued redevelopment along the Keystone corridor.
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.
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.
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%.
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.
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.
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.