Prominent Downtown Office Building Sells in Indy

(Image courtesy of Black Salmon.)

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One of the largest buildings in Indianapolis has a new owner. Florida-based Black Salmon has acquired BMO Plaza downtown for $70 million. Current tenants of the 28-story building include BMO Harris Bank, the U.S. Department of Defense and General Electric Capital Services.

BMO Plaza was built 30 years ago and its previous owners, Chicago-based HEARN, invested $6 million over the last two years on renovations in the nearly 445,000 square-foot property. Black Salmon says it is planning additional upgrades of the plaza’s common areas.

Black Salmon Chief Executive Officer Jorge Escobar says "we launched Black Salmon with the goal to reach close to $300 million in assets during the first two to three years. The acquisition of the prized BMO Plaza signifies the $100 million mark for our firm, far exceeding our expectations and reinforcing Black Salmon’s position for tremendous national market growth."

The building is located in Indy’s central business district at 135 N. Pennsylvania.