|
|
THE ART INSTITUTE OF INDIANAPOLIS, INC.
INDIANAPOLIS, IN
TENANT REPRESENTATION
The Art Institutes, Inc. is a national educating organization, with locations in 31 major cities across the United States, targeted toward students in the creative and applied arts. The Institute offers programs including design, media arts, fashion, and culinary arts. The company wanted to open an Art Institute location in Indianapolis. This would be the first art school of its size and quality to open in the Indianapolis market. The challenges involved were to find a north side office building location that was suitable for classroom use and also offered plentiful, accessible free parking.
|
|
A P P R O A C H
- Join Cushman & Wakefield of Phoenix, AZ, to represent a national account in order to combine the strength of the C&W platforms and services with Summit’s local market expertise.
- Provide extensive survey of the market to identify potential locations on the north side that could fulfill the physical requirements of the art school - large space for classroom use and plentiful, accessible free parking.
- Identify and evaluate several locations and review proposals based on the tenant’s needs. Conduct very thorough needs analysis.
- The options narrowed down to a frontrunner, which was a new owner who was in the midst of extensive remodeling and operational issues. This required a great deal of a communication and cooperation.
|
|
R E S U L T S
- Summit was successful in the lease contract of approximately 36,000 SF at 3500 DePauw Boulevard, located on the first and second floor of Pyramid 1.
- For the new owners of the Pyramid Complex, The Art Institute of Indianapolis was an impressive addition to launch the building’s redevelopment.
- Summit was able to achieve the high parking demand and large office space needed for the tenant. The deal also provided building signage, options for expansion, and building renewal.
|
|
|
|
|
