Meridian Centre under new ownership
A joint venture group comprised of Starlight Equity of New York and Integris Ventures, based in St. Louis, has purchased the iconic downtown Indianapolis office building known as Meridian Centre. The seven-story structure, which offers 50,000 square feet of space, sits on the corner of Maryland and Meridian Streets. The purchase price was approximately $3.1 million.
An investment group known as Corporate Park Development, Inc., has owned and managed the property since 1983, and was the entity that sold Meridian Centre; Corporate Park is beginning to close down its operations. The Starlight/Integris joint venture will be the new property manager, and leasing will be in the hands of Colliers International Group's Matt Langfeldt and Rich Forslund.
Meridian Centre currently has tenants in about 75% of its spaces, with some of the most prominent including the Ball State University Indianapolis Center, and Moody Eyes, an optometrist. There are also several law firms on the premises.
The joint venture plans to bring the main lobby up to date, perform deferred maintenance, and upgrade signage, along with the common corridors. Renovations, which could start in September, should be done by early 2019. The new owners, who say they are excited by the potential of the Indianapolis market, intend to keep the Meridian Center name as part of a new marketing campaign.
Owners of properties like this can use brochure printing to illustrate a building's amenities to prospective tenants.
An investment group known as Corporate Park Development, Inc., has owned and managed the property since 1983, and was the entity that sold Meridian Centre; Corporate Park is beginning to close down its operations. The Starlight/Integris joint venture will be the new property manager, and leasing will be in the hands of Colliers International Group's Matt Langfeldt and Rich Forslund.
Meridian Centre currently has tenants in about 75% of its spaces, with some of the most prominent including the Ball State University Indianapolis Center, and Moody Eyes, an optometrist. There are also several law firms on the premises.
The joint venture plans to bring the main lobby up to date, perform deferred maintenance, and upgrade signage, along with the common corridors. Renovations, which could start in September, should be done by early 2019. The new owners, who say they are excited by the potential of the Indianapolis market, intend to keep the Meridian Center name as part of a new marketing campaign.
Owners of properties like this can use brochure printing to illustrate a building's amenities to prospective tenants.