Emmis Exploring Sale Of Indianpolis HQ
• Emmis Corporation announced that it has retained the commercial real estate firm Cushman & Wakefield to market its Indianapolis corporate headquarters at 40 Monument Circle.
“Monument Circle has been Emmis’ home since 1998, and I’m proud of what we built, and the people who helped build it,” said Emmis Chairman and Founder Jeff Smulyan. “As we divested assets, including our local radio stations, we weighed what to do with the building, and ultimately decided that it made sense to look for a new owner. We selected Cushman & Wakefield to help us explore that opportunity. When we relocate, Emmis will remain in Indianapolis. It is our home and will always be our home.”
The seven-story, 140,000-square-foot building is located directly on Monument Circle, the epicenter of Downtown Indianapolis. The property offers a contiguous block of 100,000 square feet of Class A office space ideal for a prestigious office headquarter space for owner-users or corporate tenants. With its expansive, three-story atrium, 40 Monument Circle has the potential for tourism-retail and high-end dining as well. The property’s offering also includes a right of first refusal to acquire the adjacent parking garage and air rights over the garage for a potential building expansion.
A sale would not immediately impact the building’s current tenants, Star Bank and Urban One.
