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Centre Offering Memorandum Symphony Centre Confidential offering memorandum 32 East Washington Street, Indianapolis, Indiana Unique opportunity to acquire a historic building in the heart of downtown Indianapolis. 1 | Symphony Centre | 32 E. Washington St. Contents Investment summary 05 Property overview 06 Location overview 13 Market overview 21 Transaction guidelines 25 2 | Symphony Centre | 32 E. Washington St. JLL | 3 Investment summary Symphony Centre | 32 E. Washington St. The Offering JLL is pleased to offer for sale Symphony Centre (the “Property”), a 73,017 square foot building, located in the heart of a thriving downtown Indianapolis. The historic, 17-story building is situated along East Washington Street less than one block from Monument Circle and within walking distance of exceptional NORTH MERIDIAN STREET area amenities. With a timeless brick exterior, an exceptional window line and efficient floorplates, the Property boasts historic character with an eclectic feel that appeals to the modern tenant. INVESTMENT HIGHLIGHTS • Flexible zoning opportunity. CBD-1 zoning allows for flexible opportunities including retail, outdoor cafe or redevelopment opportunities. • Significant upside potential. With a recent remeasurement to BOMA square footage and expiring rents at approximately $3.00 below market, there is a significant upside potential by rolling expiring PENNSYLVANIA AVENUE leases to rental rates reflective of current market rates. • Appeal to today’s tenants. With a footprint reflective of the highest velocity of tenant demand, Symphony Centre offers everything today’s modern tenants want. The unique finishes, panoramic views and value-add potential for a rooftop patio add to the appeal. WASHINGTON STREET DELAWARE STREET • Healthy submarket and office market strength. Leasing activity in the CBD continues its uphill climb and represents 43% of the completed leases in Indianapolis MSA year to date. With steady investment activity and more than 60 projects in the pipeline through 2022, momentum and revitalization will continue throughout downtown Indianapolis. • Stability. Indianapolis Symphony Orchestra is looking to remain partially in the building from the lower level through the third floor. Further specifics on those terms will be given upon an executed confidentiality agreement. PROPERTY SUMMARY Address 32 E. Washington St., Indianapolis, Indiana, 46204 Building Type Multi-tenant Office Year Built/Renovation 1912/1981 Total Size 73,017 rsf Site Size 0.12 acres Parcel Number 1028287 (State Parcel # - 49-11-01-240-178.000-101) Zoning CBD-1 Occupancy 84.5% 4 | Symphony Centre | 32 E. Washington St. JLL | 5 Property overview Symphony Centre | 32 E. Washington St. The Property Second Floor Greenroom 17th Floor Penthouse Symphony Centre was added to the National Register for Historic Places in 1980; the Property was originally developed in 1912 as the Washington Hotel, which was the tallest hotel in Indiana at that time. The adaptable floorplates have allowed the building to evolve from a hotel, apartments, banquet space and office space during its history. With a unique, historic ambiance and the potential for creative space, the Symphony Centre offers an experience that is desired by today’s tenant. Unobstructed, panoramic views of the city, along with the unique opportunity for a penthouse or rooftop deck, allows tenants to experience the vibrancy of the city, even when inside the building. With a prime location just one block from Monument Circle, the Symphony Centre stands at the core of the city’s business and cultural districts. The Property is surrounded by professional and cultural attractions and is steps away from an abundance of dining, shopping and nightlife. The Cultural Trail, which runs in front of the building, is an 8-mile, $50 million bike and pedestrian trail providing connectivity to all six of the downtown cultural districts. PROPERTY HIGHLIGHTS 73,017 rsf CBD-1 zoning Situated along the Panoramic views Cultural Trail At the core of a thriving Unique, historic downtown ambiance 6 | Symphony Centre | 32 E. Washington St. JLL | 7 View of Monument Circle from Rooftop Unique Finishes Property overview Symphony Centre | 32 E. Washington St. Stacking Plan Building Specifications Vacant MTM 2019 2020 2021 2022 Size reflected in parenthesis is BOMA Standard Stories 17, with lower level and partial sub lower level Typical Floorplates 4,200 rsf 17 Indianapolis Symphony Orchestra 1700 | 4,126 sf (3,171 sf) Standard Ceiling Height 8 feet MTM 16 Vacant Precision Dialogue Marketing Indiana Utility Shareholders Public Interest Legal Foundation 016 | 910 sf (447 sf) 1625 | 1,999 sf (2,089 sf) 1650 | 505 sf (522 sf) 1675 | 1,086 sf (1,170 sf) Elevators 2 passenger, 1 freight MTM LXD 12/31/2019 LXD 01/31/2020 15 Benhussen, Duetsch & Associates Restrooms 2 per floor 1500 | 4,271 sf (4,212 sf) MTM Roof Rubber membrane 14 Vacant 1400 | 4,271 sf (4,179 sf) Brick exterior underwent full re-mortar and repair from 2014 through 2017. Wall assembly contains glass Exterior windows set in wood frame. 13 IVCI (Cathedral Arts) Vacant Vacant 1300 | 1,903 sf (1,991 sf) 1350 | 1,452 sf (1,679 sf) 916 sf (331 sf) Foundation Concrete foundation with basement and subbasement LXD 04/30/2022 12 Vacant 1200 | 4,271 sf (4,228 sf) Structure Metal frame There are 56 heat pumps in the building which are ran off of a chiller. There’s a cooling tower on the roof. The 11 Indiana Grantmakers Alliance HVAC 1100 | 4,271 sf (4,169 sf) building’s heat is ran by steam. LXD 12/31/2022 10 Vacant Maribeth Smith Indiana Grantmakers Alliance Life Safety Systems Wet sprinkler system. AMAG (with Symmetry Professional) security system. 010 | 1,178 sf (630 sf) 1000 | 1,997 sf (2,139 sf) 1050 | 1,096 sf (1,286 sf) MTM LXD 12/31/2022 9 Vacant OI Career Consultants New World Youth Orchestra 09 | 568 sf (144 sf) 900 | 2,903 sf (2,681 sf) 950 | 800 sf (1,104 sf) LXD 11/30/2019 MTM 8 Indianapolis Symphony Orchestra 800 | 4,271 sf (4,219 sf) MTM 7 Indianapolis Symphony Orchestra 700 | 4,276 sf (4,227 sf) MTM 6 Indianapolis Symphony Orchestra 600 | 4,195 sf (4,205 sf) MTM 5 Indianapolis Symphony Orchestra 500 | 4,195 sf (4,101 sf) MTM 4 Indianapolis Symphony Orchestra 400 | 4,195 sf (4,118 sf) MTM 3 Indianapolis Symphony Orchestra 300 | 4,113 sf (4,114 sf) MTM 2 Indianapolis Symphony Orchestra 200 | 4,063 sf (4,079 sf) MTM 1 Indianapolis Symphony Orchestra 100 | 3,599 sf (3,458 sf) MTM LL Indianapolis Symphony Orchestra LL | 1,180 sf (4,387 sf) MTM Lease Expiration Schedule 40,000 35,692 35,000 Rooftop Patio Potential First Floor Common Hallway 30,000 25,000 8 | Symphony Centre | 32 E. Washington St. JLL | 9 20,000 15,000 9,544 10,000 7,446 5,000 3,203 1,170 0 0 0 MTM 2018 2019 2020 2021 2022 ISO Property overview Symphony Centre | 32 E. Washington St. Representative Floorplans Representative Floorplans LOWER LEVEL EXAMPLE OF SINGLE TENANT FLOOR FIRST FLOOR EXAMPLE OF MULTI-TENANT FLOOR 10 | Symphony Centre | 32 E. Washington St. JLL | 11 Location overview Symphony Centre | 32 E. Washington St. Mass Ave The Canal Photo: Downtown Indy Photo: Downtown Indy Indianapolis With over 1.9 million people in the Metropolitan Statistical Area (MSA) the city of Indianapolis is the 17th largest in the nation, the third largest in the Midwest and the state capital of Indiana. In 2016 the Bureau of Economic Analysis concluded that the gross domestic product (GDP) for the Indianapolis MSA was $117.6 billion, making it the 27th largest GDP’s in the U.S. out of 363 metropolitan areas. Indianapolis’ tremendous growth as a business hub and its reputation as a professional sports capital have placed Indianapolis in the national spotlight. The recent focus on life sciences and technology startups has yielded an entrepreneurial attitude, and has further affirmed Indianapolis’ economic vitality. The Hoosier capital consistently ranks as one of the safest and cleanest cities in the nation and many of the surrounding counties have been cited as “Best Places to Live”. Indianapolis has been revered for its quality of life and low cost of living. As an economic powerhouse in the Midwest, the Indianapolis region has a vibrant and favorable business climate that has diversified far beyond its historical manufacturing roots into the expanding insurance, financial, healthcare, life science and technology industries. In 2018, Tax Foundation ranked Indianapolis #1 on its list of Best State’s for Business in the Midwest and #10 in the nation. 2,053,679 3.7% 34% $58,470 POPULATION UNEMPLOYMENT BACHELOR’S MEDIAN RATE DEGREE OR HIGHER INCOME #1 State Business Tax Climate in the Midwest - Tax Foundation, 2018 #10 State Business Tax Climate in the US - Tax Foundation, 2018 #5 Best Place to do Business in the US - Chief Executive Magazine, 2018 #2 Best City to Start Your Business Right Now - Inc., 2018 #1 Government in the US - US News & World Report, 2017 #1 Thriving Tech City - Money Under 30, 2017 #2 Best City for Jobs - Money, 2017 #2 Most Resurgent City in the Country - Realtor.com, 2017 12 | Symphony Centre | 32 E. Washington St. Georgia Street Monument Circle #1 Best Airport in North America - Airports Council International, 2012-2017 JLL | 13 Photo: Downtown Indy Photo: Downtown Indy Location overview Symphony Centre | 32 E. Washington St. Downtown Indianapolis Corporate Headquarters Cultural Attraction Sports Attraction Development/Campus Miscellaneous Central Library Bottleworks District Development 16 Tech Development Indiana Avenue IUPUI Campus Urban Core One America Salesforce Mass Ave The Canal NCAA Museum Eiteljorg Museum Monument Circle Former Angie’s List Campus City Market Indiana State Museum Emmis Communications Cummins Angie’s List Simon Property Group Georgia Street Circle Centre Mall Anthem Farm Bureau Insurance Indiana Convention Center White River State Park Bankers Life Fieldhouse Victory Field GM Stamping Development Rolls Royce Fountain Square Eli Lilly & Company Lucas Oil Stadium 14 | Symphony Centre | 32 E.
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