updated: 6/11/2012 12:44:25 PM
Indianapolis-based Sourwine Real Estate Services has broken ground on a $12 million office complex in Indianapolis. The company says it is the area's first completely speculative commercial real estate development since 2008.
June 11, 2012
Indianapolis, Ind. -- Sourwine Real Estate Services, an Indianapolis-based, three-generation real estate owner, developer and property management company, has announced the groundbreaking of an all-new, 80,699 Gross Square Feet multi-tenant office space at 8335 Keystone Crossing in Indianapolis. This is the first completely speculative commercial real estate development in the Indianapolis area since 2008.
“We are confident now is the time to build and invest in new office space in this market,” said Joe Sourwine, third generation and asset manager of Sourwine Real Estate Services. “We’ve been fortunate to sustain and even grow our occupancy throughout the recession, and our sister Keystone Office Centre buildings are continuing to thrive thanks to the strong relationships we’ve formed with our tenants. And, with the growth and development we’re seeing in the Keystone area, all signs point to success for this new spec project.”
The three-story, state-of-the-art, Class A office space will house 75,000 leasable SF, or 25,000 per floor. The 8335 address will offer a top-of-the-line fitness facility, plus existing shared conference space with its sister Keystone Office Centre buildings at 8395 and 8365.
Sourwine will own, develop and manage the new multi-tenant space. CSO Architects has designed the building, and Shiel Sexton will manage the construction, which is scheduled for completion in the second quarter of 2013. In the true nature of speculative – or ‘spec’ – development, the building has no existing tenant commitments.
“We’re excited to fill this space from the ground-up,” said Cassidy Turley senior vice president and principal, Andrew Martin, SIOR, CCIM. “Sourwine always invests in a strong and smart product – in the most logical locations – and has excellent rapport with tenants. The 8335 Keystone Crossing development will be an ideal spot for just about any company looking to re-locate or expand in the Indianapolis area.”
About Sourwine Real Estate Services:
Sourwine Real Estate Services is an Indianapolis-based owner, developer, and manager of commercial real estate. With over 50 years and three generations of family owned experience, the company has learned how to listen, respond, and follow up as a matter of our daily routine. Sourwine currently owns and manages Keystone Office Centre as well as 9100 Meridian Square. Please visit the newly re-designed and updated www.sourwine.com for more information.
About Cassidy Turley:
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The firm completed transactions valued at $22 2 for more information.
Source: Cassidy Turley