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Dec. 9, 2013

Summit Realty to Manage Leasing of 673,000 SF BMO Plaza in Downtown Indianapolis

By Adriana Pop, Associate Editor

True North Management Group LLC has selected Cushman & Wakefield/Summit Realty Group to handle marketing and leasing activities for the 673,000-square-foot BMO Plaza office building in downtown Indianapolis.

According to the Indianapolis Business Journal, the 28-story, multi-tenant property at 135 North Pennsylvania is 57 percent occupied. BMO Harris Bank, the U.S. Department of Defense and General Electric Capital Services are among the building’s tenants. Amenities include on-site banking, dining and structured parking.

The tower’s currently vacant top six floors totaling nearly 106,000 square feet are considered to be the largest block of contiguous space available in the city’s downtown office market.

Summit’s leasing team of Bill Ehret and Nancy Gibbs took over agency services for the property last month.

“We are excited to work closely with such a strong ownership group. We are charged to make sure prospective tenants understand the value of this outstanding asset located in the heart of downtown Indy,” Bill Ehret, SIOR, Partner and Co-Founder of Summit said in a news release.

In other news, the Indianapolis Business Journal reports that StreetLinks Lender Solutions is planning to relocate its 200 employees from the current headquarters on the south side of Indianapolis to downtown.

The company will occupy 25,000 square feet on the ground floor of Milhaus Development’s $30 million mixed-use Artistry project currently under construction at 451 E. Market Street. The relocation is scheduled to occur next spring.

The first phase of Artistry will bring 258 apartments and up to 68,000 square feet of commercial space. A second phase of the project encompassing two new mixed-use buildings with 242 apartments and around 20,000 square feet of commercial space is expected to break ground in May 2014.

“Indianapolis has always been our home. However, this is the first time we’ve been able to seriously consider the downtown market,” StreetLinks President Tom Hurst told the newspaper in a written statement. “A traditional downtown high-rise just doesn’t fit who we are as a company. Artistry offered the unique feel and cultural vibe we were looking for, along with fantastic proximity to downtown residential options and entertainment.”

Photo credits: Summit Realty Group

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