{"id":1004108792,"date":"2014-12-03T14:23:52","date_gmt":"2014-12-03T22:23:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=309998"},"modified":"2021-05-14T17:03:14","modified_gmt":"2021-05-15T01:03:14","slug":"developer-revives-historic-downtown-indianapolis-office-building-3","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/developer-revives-historic-downtown-indianapolis-office-building-3\/","title":{"rendered":"Developer Revives Historic Downtown Indianapolis Office Building"},"content":{"rendered":"

by Adriana Pop, Associate Editor <\/em><\/p>\n

\"\"<\/a>A long-vacant 12-story office building in downtown Indianapolis could soon get a new life.<\/p>\n

According to the Indianapolis Business Journal<\/a><\/em>, local developer Loftus Robinson has recently purchased the property located east of Monument Circle at 129 E. Market St. He plans to invest a total of $7 million in the building, including $5 million for a complete interior renovation, a new heating and cooling system, as well as other improvements.<\/p>\n

The refurbishment project is scheduled to be complete by next summer, according to Drew Loftus, a partner of the Loftus Robinson development firm.<\/p>\n

\u201cThe inside will be fresh and modern and the outside will be historically restored,\u201d he told the newspaper. \u201cThe building has a ton of character on the outside, and we want to bring that out.<\/p>\n

The architect on the renovation is DkGr.<\/p>\n

Built in 1923, the 54,000-square-foot building originally housed the J.F. Wild State Bank. It was designed by Fermor Spencer Cannon, the architect of Butler University\u2019s Hinkle Fieldhouse.<\/p>\n

Loftus Robinson acquired the building from Crown Property Group, which it purchased from Flaherty & Collins Properties in 2008.<\/p>\n

The local office of Jones Lang LaSalle is marketing the building\u2019s upcoming space, which is expected to rent for $18 a square foot. The property will offer on-site parking, along with 4,500-square-foot open floor plates with direct access to elevators.<\/p>\n

Loftus Robinson\u2019s other projects in Indianapolis include the $28 million Fishers Switch mixed-use development under construction on the site of the Fishers Train Station. The project will bring a three-story retail\/office building, a 50-foot-wide pedestrian plaza and a four-story apartment building with a 442-space parking garage.<\/p>\n

Furthermore, the company added a second story to a building at 720 N. Capitol Ave. in downtown Indianapolis and purchased three connected structures at 6334 Westfield Blvd. in Broad Ripple and converted them into 9,000 square feet of office space.<\/p>\n

Photo credits: www.officespace.com<\/em><\/p>\n

Click here<\/a><\/strong> to read our most recent multi-family market snapshot for Indianapolis<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A long vacant 12-story office building east of Monument Circle in downtown Indianapolis could soon get a new life.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[],"class_list":["post-1004108792","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest"],"acf":[],"yoast_head":"\nDeveloper Revives Historic Downtown Indianapolis Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/developer-revives-historic-downtown-indianapolis-office-building-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developer Revives Historic Downtown Indianapolis Office Building\" \/>\n<meta property=\"og:description\" content=\"A long vacant 12-story office building east of Monument Circle in downtown Indianapolis could soon get a new life.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/developer-revives-historic-downtown-indianapolis-office-building-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-03T22:23:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T01:03:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/J.F.-Wild-Building-at-129-E.-Market-St.-indianapolis.png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-revives-historic-downtown-indianapolis-office-building-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-revives-historic-downtown-indianapolis-office-building-3\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Developer Revives Historic Downtown Indianapolis Office Building\",\"datePublished\":\"2014-12-03T22:23:52+00:00\",\"dateModified\":\"2021-05-15T01:03:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-revives-historic-downtown-indianapolis-office-building-3\\\/\"},\"wordCount\":331,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-revives-historic-downtown-indianapolis-office-building-3\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/11\\\/J.F.-Wild-Building-at-129-E.-Market-St.-indianapolis.png\",\"articleSection\":[\"Indianapolis\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-revives-historic-downtown-indianapolis-office-building-3\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-revives-historic-downtown-indianapolis-office-building-3\\\/\",\"name\":\"Developer Revives Historic Downtown Indianapolis Office Building - 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