FISHERS, IN-John Wiley & Sons Inc. has signed a 123,416-sf office space renewal and expansion at Crosspoint Plaza One, at 10475 Crosspoint Blvd., for 10 years. The 145,000-sf building, owned by New York City-based Lexington Properties LP, is in the Crosspoint Office Park.
Sam Smith, CEO of Resource Commercial Real Estate, represented the tenant. He says the publisher of print and electronic products had leased the same amount of space before in the four-story building, but had sublet out half a floor. “They've expanded back into their original space,” Smith tells GlobeSt.com. “They wanted to stay in the building, with its proximity to the current employee base, it was just a cost-effective solution to relocating the building. It works well for them today.”
The building is 100% leased, Smith says. The asking lease rate is between $18.50 and $19.50 per sf, he says.
The local office market is “definitely active,” Smith says. “This submarket, the Castleton and I-59 corridor, is probably the third most active in the northeast quadrant of Indianapolis.”
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