Indianapolis, Indiana – The Home of the “Indy 500” breaks into our NNN Commercial Real Estate News tonight. The Downtown Indianapolis commercial real estate market is excited with a new net lease Tenant. The net lease Tenant happens to be Rolls-Royce. Rolls-Royce is reported to move approximately 2,500 of their employees into a commercial real estate development known as the Faris Campus. Rolls-Royce will be more productive with these employees in one state-of-the-art building, in the Indianapolis central business district. This NNN Commercial Real Estate development is situated on S. Meridian, in Indianapolis, with 46225 as the zip code.
Rolls-Royce will lease the NNN Commercial Real Estate development which is made up of Four Buildings. This NNN Commercial Real Estate development is at 450 S. Meridian Street and will be renamed to the Rolls-Royce Meridian Center. This NNN Commercial Real Estate development was an office complex that was recently vacated by Eli Lilly and Company. It appears that there will not be job creation for now however Rolls-Royce does plan to pay $18 Million or more to renovate the NNN Commercial Real Estate property. Local businesses are excited to have some retail foot traffic for the nearby net lease properties with restaurant and fast food services.
Commercial Real Estate Developments
This NNN Commercial Real Estate development has approximately 404,111 square-feet office space for lease for Rolls-Royce, the aircraft engine-maker. This Indiana NNN Commercial Real Estate development cost $58 million to develop. This NNN Commercial Real Estate property was designed by Browning Day Mullins Dierdorf Architects and reached completion in 2001. Browning Day Mullins Dierdorf Architects is currently one of the leading architectural and landscape architectural design firms in the Midwest. They are also an excellent architectural planning firm with nationally and internationally recognized commercial property projects that have been completed.
Modern Architecture for Buildings
Eli Lilly had moved into this NNN Commercial Real Estate property in 2002. This NNN Commercial Real Estate property has parking lot capable to squeeze in more than a 1,457 cars. The NNN Commercial Real Estate development also has a 40,000 square-foot cafeteria and a convenient, modern meeting center. However, this NNN Commercial Real Estate property has been vacant since Eli Lilly moved out their pharmaceutical staff in 2010.
The NNN Commercial Real Estate development, former Faris Campus is known as the one of the most prestigious office building, in downtown Indianapolis. The NNN Commercial Real Estate development was expanded in 2002 for Eli Lilly and Company. The NNN Commercial Real Estate development offers a modern and beautiful visual aesthetic. This NNN Commercial Real Estate development is most definitely part of Indianapolis’ rich history and will be involved in the exciting future with Rolls-Royce. The NNN Commercial Real Estate development Tenants will be able to enjoy gorgeous views of downtown Indianapolis.
Search for Investment Property
Many NNN Commercial Real Estate investors were not attracted to the area south of the railroad tracks that comes through Downtown parallel to South Street. The point in time that changed for NNN Commercial Real Estate investors was the grand opening of Lucas Oil Stadium, back in 2009. That commercial real estate development cost nearly $720 million and is currently home to the Indianapolis Colts.
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These major metropolitan areas are also fine areas for a 1031 Exchange replacement property. We recommend NNN Commercial Real Estate Investors use financing specialists from Loanrise.com for CTL Financing, and Commercial Loans.