Deloitte Adds Space at Indy's Chase Tower

INDIANAPOLIS-Deloitte LLP has expanded with a new long-term lease in the 905,000-square-foot Chase Tower here at 111 Monument Cir. The company went from about 20,000 square feet to 26,758 square feet in the tower, owned by Macquire Office Trust.

Rich Forslund with NAI Olympia Partners and Mitti Liebersohn with Cushman & Wakefield represented the tenant in the lease, and Bill Ehret and Tom Hadley with Summit Realty represented the owner. Deloitte needed to expand due to local growth, Forslund says.

He tells GlobeSt.com that the building is one of the few Class A offices that are well-leased in the Indianapolis area. “It’s 95% occupied at this point, though the rest of the office market has a decent amount of vacancy. The MNI Building nearby, for example, is about 50% or less occupied. Chase is just one of the best buildings there is in the city.”

The asking rate shows the status, Forslund says, at $24 per square foot. “That’s about $2 to $3 above the rest of the market,” he says.

The building also recently improved its green ability. The US Environmental Protection Agency awarded the building an Energy Start for superior energy efficiency and environmental protection, indicating the tower uses an average of 35% less energy than typical buildings, and is among the top 25% of facilities in the country for energy performance. The building manager is Colliers Turley Martin Tucker.