Onward Investors Acquires 130 E. Washington Office Tower in Indianapolis
INDIANAPOLIS, Ind. (September 2015) – Onward Investors, a national commercial real estate investment and development firm, has acquired the 130 E. Washington tower in downtown Indianapolis, Ind., located at the center of the city’s major developments.
Onward Investors, which acquires value-add properties in recovering markets throughout the U.S., resolves complex issues to stabilize the properties and derive value for investors.
The 130 E. Washington property is a 12-story, 201,127-square-foot office building that is currently 55 percent leased. Tenants include Arcadis, one of the city’s premier engineering firms, and the national governing bodies of USA Track and Field, Diving, Gymnastics and Synchronized Swimming.
The historic building was originally designed in 1922 for Meyer Kiser Bank by the architectural firm Vonnegut and Bohn (fact check) and was later enlarged to become home for years to one of the city’s largest and most prominent tenants, the Farm Bureau Insurance Company.
Onward Investors will continue to make improvements to 130 E. Washington and actively lease space. Leasing will be handled by the Indianapolis office of Cushman Wakefield/Summit.
Onward Investors will work with Ratio Architects to restore more of the building’s historic elegance and mid-century modern design, while at the same time providing creative office space that will foster collaboration and appeal to talent in technology, advertising, media and other creative market sectors.
Improvements will include redesigning the existing façade; enhancing the building’s street presence on Washington; restoring the windows on the west half of the building to their historic proportions; and establishing retail and restaurant space along Washington.
Featuring 16,786-square-foot floor plans, other highlights will feature exposed ceilings, polished concrete floors, open floor plans, additional natural light and other amenities that are increasingly popular with firms interested in less traditional environments.
About Onward Investors
Based in Minneapolis, Minn., Onward Investors LLC is a privately held commercial real estate investment and development firm that acquires and improves value-add properties in recovering markets for investors. Since its inception in 2011, the firm has acquired and managed more than 2 1/2 million square feet of commercial properties across the United States. www.OnwardInvestors.com