Urban Indiana

16 Tech pencils in plans for two more buildings after early leasing success

With most of its existing office space already leased and more than 280 apartments now under construction, 16 Tech Community Corp. is embarking on plans for the next phase of development at its eponymous 50-acre campus on the northwestern edge of downtown Indianapolis.

The master developer has begun pre-leasing two new buildings planned for the entrepreneurism-innovation district south of the intersection of West 16th Street and Indiana Avenue: a 100,000-square-foot laboratory building and a 40,000-square-foot office structure that would be dedicated to sports- and health-focused tenants.

No timelines have been set for the buildings' construction.

The lab building, to be known as Waterway Labs, is slated for development by Denver-based NexCore. With a development cost estimated at $50 million to $60 million, the five-story structure would include a mix of build-to-suit lab space, offices and fully furnished labs that are move-in ready for growing companies.

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https://www.ibj.com/articles/16-tech-pencils-in-plans-for-next-two-buildings-after-early-success?utm_source=ibj&utm_medium=home-carousel