INDIANAPOLIS—The growing popularity of office spaces in urban cores has brought great benefits to Indianapolis, with more companies moving downtown and investors buying up towers with plans to upgrade and reposition the properties. True North Management Group has decided to take advantage of the investment climate here by putting the 441,641 square foot BMO Plaza building up for sale.

The company has already invested more than $4.4 million into the 28-story building at 135 North Pennsylvania St. to expand and upgrade the amenity package. It now includes a tenant lounge, conference facility and workout center.

“The leasing team has been able to achieve 70% occupancy in a relatively short period of time, a strong indicator of this asset's strength in the marketplace,” James Hanson, principal of Avison Young, tells GlobeSt.com. “This is a great opportunity for investors to enter the downtown Indianapolis market with a class A building that has been repositioned and has a proven track record of success.”

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.