CEDIA Building New HQ in Fishers
(rendering courtesy CEDIA)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based CEDIA has announced plans to invest nearly $14 million to construct its global headquarters in Fishers. The association says the facility, which is expected to be complete in fall 2018, will be best suited to meet the current and future needs of CEDIA and its membership.
The three-story building will have a total of 40,000 square-feet of space and CEDIA says it plans to occupy 30,000 square feet, with the remainder being made available for tenants. The building will include staff office space, a training facility, an "experience center," and an auditorium.
CEDIA Chairman Dennis Erskine says the association decided to build the facility after 18 months of considering other options, including renovating its current space, finding new lease space or buying an existing building.
"Building a new headquarters in a desirable, high-growth area gives the CEDIA membership an asset with appreciating value, as well as opportunity for monthly revenue from tenants," said Erskine. "We had three separate financial firms vet the build-to-suit alternative, and all concluded that real estate in this booming area was a sound investment, and a solid strategy to diversify CEDIA’s overall investment portfolio."
CEDIA says it plans to close on the purchase agreement for the land in the coming weeks. The association is working with Indianapolis-based American Structurepoint and Meyer Najem Construction on the design and space requirements.