Indianapolis-based High Alpha will be the anchor office tenant of a high-profile development. The $300 million Bottleworks District, which broke ground three months ago, will also include hotel, residential, theater and retail spaces, as well as a food hall. Wisconsin-based Hendricks Commercial Properties LLC Vice President of Development Isaac Bamgbose says a tenant like the tech-focused venture studio and investor will help create more vibrancy and bring a different dimension to the Mass Ave area.
In an interview with Inside INdiana Business, Bamgbose said High Alpha’s selection makes a statement. "I think being able to have an office group that — especially in High Alpha — that’s bringing that energy, bringing that youth, bringing that intellect and intelligence, you know, to the district and creating a closer relationship where it’s not just ‘hey, they’re coming here for dinner and then going home to somewhere else,’" he said. "They’re actually working here, as well as enjoying here."
High Alpha is currently located in space off of Monument Circle in the city’s downtown. Bamgbose says the new office is expected to open along with the first phase of Bottleworks in the spring of 2020. The Bottleworks District will be located on a property that previously contained a Coca Cola bottling operation that was converted to house buses for Indianapolis Public Schools. The 12-acre plot was first developed in the early 1930s.
"These guys (at High Alpha) are obviously being a big part of building the tech ecosystem here in Indianapolis and in Indiana and with that, they need to be somewhere that resonates with the progress and innovations that they’re making and the boundaries that they’re pushing," Bamgbose said. He adds the location will also help boost High Alpha’s talent attract and retention efforts, as well as provide the kind of scenery needed to impress out-of-town guests.
In July, High Alpha announced a $100 million stack of funding to fuel the next generations of its venture studio and venture capital capacity.