Vandenbark, who represented landlord Litchfield Advisors in the renewal, says that Anthem's most recent space expansion was an effort to bank some space for future growth in the building. He adds that the expansion space is being built out and Anthem is in the process of reorganizing its space in the building to accommodate more workers per sf.

Another recent deal in which an existing tenant took 5,000 sf of overflow space brought Landmark Center's occupancy rate to 99%, Vandenbark says. Built in 1984, the 300,280-sf building was purchased by Litchfield Advisors in October 2003. Amenities at Landmark Center include free parking, easy access from Interstate 65 and floorplates that are larger than many other downtown buildings at 25,000 sf to 27,000 sf.

Overall, the multi-tenant office market in Downtown Indianapolis has been on the mend in 2006, according to CBRE's third-quarter office market report. In the first nine months of the year, the overall vacancy rate has decreased 2% to 13.19%. Meanwhile, the local suburban office vacancy rate increased to 17.06%. Typically, Vandenbark says, downtown Indianapolis vacancy rates lag behind their suburban counterpart.