First 16 Tech Building Fully Leased

Posted: Updated:
INDIANAPOLIS -

The first new building in Indianapolis' innovation district is fully leased. 16 Tech developers say the $30 million research and office facility will house the Indiana Biosciences Research Institute, Central Indiana Corporate Partnership and Indiana University School of Medicine researchers. Construction on the anchor facility is set to begin later this year.

IBRI will take more than 67,000 square feet of space on the first three floors of the building. The institute aims to improve common health issues like diabetes, metabolic disease and poor nutrition with industry-inspired research. IBRI's space will include office, lab and open work spaces.

CICP will move its headquarters to the top two floors of the five-story building. The partnership's affiliate organizations include BioCrossroads (life sciences), Conexus Indiana (advanced manufacturing and logistics), TechPoint (technology), Energy Systems Network (green technology), AgriNovus (agbioscience) and Ascend Indiana (talent and workforce development). CICP's space will house 80 employees.

The Indiana University School of Medicine is leasing about 12,000 square feet for part of its Indiana Center for Regenerative Medicine. The newly-launched molecular therapeutics program is part of IU's Precision Health Initiative. The school is investing more than $20 million over the next five years into the center through the Grand Challenges program. The center also includes a technology incubator that will work with faculty entrepreneurs working on drugs, devices and other health-related technology.

The building will also feature a café and public community space.

Browning Investments LLC is developing the site. The company plans to invest a total of $120 million in the first four buildings at 16 Tech. In addition to the anchor, Browning's plans include renovation of the former Citizens Energy Group space, a new office building including food, beverage and retail space and a multi-family apartment complex with about 250 units.

  • Perspectives

    • Chris Watts is president of the Indiana Fiscal Policy Institute.

      Revenue Forecast Shapes State Spending – And Surplus - Negotiations

      This week, the State Budget Committee heard an updated revenue forecast that could best be described as overcast but not stormy – yet.  Sales taxes, the largest source of state revenue, fared well from the December forecast – down a modest $15 million over the 2020-21 budget (and likely to be buoyed by new policies for online hotel and retail sales taxes moving through the legislature).  Individual income taxes showed a more dramatic decline, continuing a...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      Tech Vets Purchase Popular Indy Nightclub

      A group of Indianapolis tech entrepreneurs has bought a popular nightclub in the city's Broad Ripple neighborhood. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they will retain the Vogue's current staff to manage the venue's day-to-day operations. The new owners say they will detail plans to reinvigorate the Vogue through enhanced fan experience and engagement in the coming months. Tobias, Kraege and Davis purchased the Vogue...

    • (photo courtesy WorkOne Northwest Indiana)

      Job Fair Set For Michigan City

      Officials in LaPorte County will Thursday host the fourth annual Michigan City Community Job Fair. More than 60 employers, universities, training providers, skilled trades and community organizations will be on hand to discuss job opportunities and career paths.

    • Chinese Company Adding Hundreds of Indiana Jobs

      A Chinese automotive brake and suspension system manufacturer has announced plans to set up its first U.S. production facility inside Progress Park in Greenfield. BeijingWest Industries Co. Ltd., whose customers include Audi, BMW, General Motors and Porsche, will invest more than $80 million to build the 276,000 square-foot plant, creating up to 441 high-wage jobs by 2021. Greg Dronen, global facilities director for BWI, tells Inside INdiana Business the company plans to...

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      New Vogue Owners Plan Enhancements For 'Historic' Venue

      The new owners of the Vogue in Indianapolis say the venue combines their passions inside and outside of their roles as tech entrepreneurs. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they are hoping to increase the frequency and variety of events at the Broad Ripple venue while enhancing the experience for artists and patrons. During an interview with Inside INdiana Business, Tobias said he and is partners are also investing in...

    • During construction, traffic will be diverted.

      Angola Runs for Spot on 'Best Historic Small Town' List

      Angola is representing the Hoosier state as a nominee for Best Historic Small Town for USA Today’s 10Best Reader’s Choice Travel Awards. The town is being featured for its Civil War monument and historic movie house.