CEDIA announces plans for new £10.7 million global headquarters
CEDIA has announced plans to build a new global headquarters in Fishers Ind., a suburb in the northeast of Indianapolis, US.
The association states it dedicated over 18 months to research and financial analysis before coming to the decision that a bespoke headquarters would best suit the needs of CEDIA members and employees.
Measuring a huge 40,000 square feet in total (with CEDIA planning to occupy three quarters of that, with the reaming space for tenants) and spanning three floors, the move is expected to cost $13.7 (£10.7/€12.2) million. The building will be home to office space, a training facility, experience centre and auditorium – all of which will accessible to members.
CEDIA has rented a space in northwest of Indianapolis since 2003, and with a cool $4 million spent on lease and upkeep so far, the organisation says it sees the move as a financially viable one in the long-term. Its current lease will end in October of this year, with early building estimated indicating that the new building could be ready for occupancy by “early autumn 2018.” Until that time, CEDIA has negotiated to stay in its current location with a month-to-month lease.
“Building a new headquarters in a desirable, high-growth area gives the CEDIA membership an asset with appreciating value, as well as opportunity for monthly revenue from tenants,” commented Dennis Erskine, CEDIA chairman.
He added: “We had three separate financial firms vet the build-to-suit alternative, and all concluded that real estate in this booming area was a sound investment, and a solid strategy to diversify CEDIA’s overall investment portfolio.”
CEDIA is working with Indianapolis-based architect American Structurepoint and Meyer Najem Construction to determine the design and space requirements for the global headquarters.
CEDIA has a signed a purchase agreement for a plot of land in Fishers, Ind. with closing scheduled in the coming weeks.
A popular area for tech-focused companies to put down roots, Fishers has been named as one of the Best Places to Live by both Time (2016) and Niche (2017) and was honoured as Indiana’s 2016 Community of the Year.
Organisation members interested in providing products and technical expertise to fully integrate the new global headquarters can email firstname.lastname@example.org for more information.
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