Search
 

WellPoint Leases 117,500 SF of Office at IMC

INDIANAPOLIS-The health benefits company plans to house its growing specialty pharmaceutical business at the 1.5-million-sf facility.

By Danielle Anderson | Updated on December 04, 2006

INDIANAPOLIS-WellPoint Inc. has signed an 11-year lease for 117,500 sf in the Indianapolis Maintenance Center (IMC). The locally based health benefits company plans to move there and expand its rapidly growing specialty pharmacy business, which is currently located in Mason, OH.

A WellPoint spokesman tells GlobeSt.com that the company considered several options across the nation before settling on office space at IMC, a sprawling 1.5-million-sf facility originally built for United Airlines. He says that timing, as well as an attractive incentive package, helped seal the deal. The company will move its PrecisionRX Specialty Solutions pharmacy business into IMC in phases beginning near the end of first quarter 2007. Improvements to WellPoint’s space in IMC’s 132,000-sf office component are slated to begin soon, he adds.

The WellPoint deal brings the occupancy rate of IMC to 92%, says Patzetta Trice, vice president of communications and marketing for BAA, Indianapolis LLC, which operates the Indianapolis International Airport. In addition to the 132,000-sf office component known as the Common Area, the 1.5-million-sf facility comprises 12 hangars and warehouse and shop space. Built using city and state incentives, IMC was occupied by United Airlines in 1994.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.