PHASE ONE AT NORTH MASS DISTRICT NEARS COMPLETION
INDIANAPOLIS — Stenz Corporation, Third Street Ventures and Pure Development announce today that the 135,000 square foot Box Factory development in the North Mass district of downtown Indianapolis has hit 95 percent occupancy. With a focus on leasing to a diverse mix of tenants, Box Factory has become a modern version of the live-work-play concept.
“With 15 million square feet of office property in our portfolio, we don’t have many buildings that have gone from empty to full in two years,” said JLL Managing Director John Robinson. “It reflects the current trend in the office market towards creative class buildings with unique features and amenities such as an outdoor courtyard, a rooftop deck, views of the city skyline and ample free parking.”
Providing a one-of-a-kind tenant and amenity mix, Box Factory is home to North Mass Boulder, a bouldering gym that also provides traditional gym space, fitness classes, a café and frequent evening and weekend programming. However, this is just the start of non-traditional amenities coming to Box Factory. Soon, Bicycle Garage Indy will call the complex home as it moves from its current location at City Market to 1411 Roosevelt Ave.
“We couldn’t be more excited about our move to Box Factory,” shared Bicycle Garage Indy’s President, Scott Helvie. “With the community aspect of the complex on top of its location near Indy’s cultural district and the newly widened Monon Trail—Box Factory is the perfect place for us to set up shop.”
These stand-out less traditional tenants have caught the eye of numerous office clients eager to take advantage of the compelling environment. Lewis Wagner LLP, Gray Capital, and Stenz Corporation were the first to lease office space at Box Factory. Early Learning Indiana, Superior Oil, Live Nation and the aforementioned Bicycle Garage Indy move in later this year. Having moved in late July of 2022, DELV Design is the newest tenant at the complex.
“Our team strongly believes that space influences people and shapes communities”, shared DELV Design Co-founder Amanda Welu. “The Box Factory’s unique amenities and creative energy first piqued our interest, but what inspired us was the history and potential of the neighborhood. Seeing the shared investment into a story of revitalization hit home for us and we knew it’d be a fit.”
Even though tenant buildouts are still in progress at the complex, the teams at Stenz Corporation, Third Street Ventures and Pure Development are looking ahead to the future.
Beau Ansty, President at Stenz Corporation added: “The buzz around the development at Box Factory has been fantastic not only for filling the existing structure but for gaining momentum for the next phase. We plan to announce phase two in the coming months as well as the tenants and concepts for the last available spaces within the complex.”
The Box Factory complex is represented by JLL’s John Robinson and Brittany Ahlbrand.
About Stenz Corporation
Indianapolis-based and family-founded, the Stenz Corporation is the local leader in development, construction, and real estate. Embedded in the Indianapolis area, their deep local knowledge and experience leads the company to finding the best solutions for their partners. Through expert communication and unparalleled accountability, they have established a strong reputation of reliability that they uphold with each new relationship, both with their partners and their employees.
About Third Street Ventures
Based in Indianapolis, IN, Third Street Ventures (“TSV”) has developed and owns over $100,000,000 worth of award-winning real estate projects throughout Indiana. Over the last decade, TSV has been recognized with the highest industry awards and honors for its multitude of real estate projects, including affordable housing, market rate multifamily, mixed use and adaptive reuse. In 2017, TSV was recognized as NAIOP Indiana’s inaugural, Mixed Use Developer of the Year and continues to partner with communities and development partners to deliver high quality commercial and residential real estate developments.
About Pure Development
Offering a powerful combination of institutional commercial development experience and bold entrepreneurial spirit. Pure Development is a commercial real estate developer focused on office, industrial and manufacturing build-to-suit projects, speculative distribution buildings and urban mixed-use projects. Since its founding in 2010, the Pure team has developed more than 100 mission-critical building projects across the country for a deep and broad range of credit-tenant clients. Pure Development is headquartered in Indianapolis. Learn more at puredevelopment.com.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.