Chris Alexander, a senior development manager in Panattoni's Indianapolis office, tells GlobeSt.com that Allied Solutions has signed a 35,000-sf lease and will occupy most of the building's third floor. Allied, a provider of insurance, lending, and marketing products to financial institutions, plans to take occupancy in November. Alexander says there has been strong user interest for space in the balance of the building, though no additional tenants have been signed. Panattoni has tapped Resource Commercial Real Estate's Thomas M. Osborne and RJ Rudolph Jr. to broker the project. The asking rate of $21.50 per sf comes with a $25-per-sf tenant finish allowance, according to Alexander.

The project's location on the western end of the mixed-use Carmel City Center development and in the middle of the North Meridian Corridor puts it in an active submarket close to newly developed housing and a variety of amenities, Alexander says. Carmel City Center is a $300-million mixed-use development that will eventually include 230,000 sf of retail and restaurants, 300 residential units and 170,000 sf of office, as well as a hotel and recreation and entertainment facilities. The project is a public-private partnership between the city of Carmel and Pedcor Cos.

A Renaissance Hotel by Marriott is also planned for a site directly across Pennsylvania Street from Panattoni's project, according to Alexander. Developer Winegardner & Hammons Inc. plans to break ground this spring on the 263-key hotel, which will also include a lounge, 5,000-sf restaurant, 7,700-sf ballroom, 13,000-sf conference center and meeting facilities.