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Lauth Kicks Off Corporate Office Expansion

INDIANAPOLIS-Developer says that users have expressed serious interest in about 25% of the 151,343-sf project.

By Danielle Anderson | Updated on January 15, 2007

INDIANAPOLIS-Construction has just begun on Intech Three, the eighth corporate office building in Lauth Property Group’s Intech Park. The four-story, 151,343-sf class A office building is slated for delivery in the fourth quarter of 2007.

Company officials say the decision to move forward with the development of the facility was driven by demand for office space in the certified technology park. A company spokesman tells GlobeSt.com that users have already expressed serious interest in about 25% of the project. The demand for space is coming from existing Intech tenants as well as companies looking to locate in the area’s growing technology and research corridor, he says.

The park is currently 94% leased to dozens of tenants, according to Lauth. The project’s recently signed tenants include Statewide Credit, which leases 9,000 SF in Intech Ten; State Farm Insurance, which leases 13,000 sf in Intech Ten; US Customs and Border Protection, which lease 31,000 sf in Intech One and Two; and Telecom Solutions Center, which lease 8,000 sf in Intech One. “Intech has consistently outperformed the market in terms of vacancy,” the spokesman says. “While the suburban market is typically in double-digit vacancy, Intech is in the single digits.”

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