Construction financing secured for Indianapolis build to suit

April 5, 2012 - PRLog -- (Indianapolis, Ind.) - Holladay Properties has secured an $8.5 million construction loan from BMO Harris bank to build a new 98,500 sq. ft. flex-commercial facility for the Indiana Department of Revenue (INDOR) at AmeriPlex-Indianapolis. The new building will be located on the southeast corner of AmeriPlex Parkway and Decatur Boulevard and will be used to consolidate two facilities already located within AmeriPlex and add a new BMV location.

The move to the new facility will allow INDOR to reduce its space use by 44 percent. INDOR currently occupies two separate buildings in AmeriPlex totalling 174,000 square feet. According to INDOR, with the move to the smaller space, they will also cut their annual lease payments by $495,250 a year over the 10-year lease period.

Holladay Construction Group is serving as the general contractor for the building, which was designed by Curran Architecture of Indianapolis. Design staff at Holladay Properties will provide interior design work for the various tenants. Construction began in January with project completion scheduled for September, 2012 and the building will be open to the public in December of this year.

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Established in 1952, Holladay Properties has grown and diversified from construction of single-family tract housing to one of the largest privately held developers, design/build firms, and fully integrated real estate companies in the country. Headquartered in South Bend, IN, with offices in Portage and Indianapolis, IN, Nashville, TN and Richmond, VA, Holladay Properties is a market leader in construction, design, property management, land development and asset repositioning, build-to-suits, and real estate project financing. The firm has completed over $2 Billion in total projects. Visit us on the web at www.holladayproperties.com.