CARMEL, INDIANA (February 26, 2014) — Carmel based Baldwin & Lyons, Inc. headquarters captured honors as the Best Office Transaction of the Year at the sixth annual NAIOP Real Estate Awards Program. The NAIOP awards program announced Indiana’s Best Real Estate Projects of 2013.
The New Baldwin & Lyons headquarters building (Formerly The Congressional Building), located at 111 Congressional Boulevard, Carmel, Indiana was purchased by Lauth in December 2011. Lauth’s attraction to The Congressional Building was supported by its excellent location, quality construction and building presence, its large efficient floor plates, and the shear amount of contiguous space available in the prominent North Meridian/Carmel office corridor. Lauth immediately commenced with capital improvements, and sought a significant tenant, which would benefit from the attributes and amenities of The Congressional Building.
Simultaneously, Baldwin & Lyons retained Summit Realty Group to commence a search for the best solution to accommodate its need for 120,000 SF of headquarters office space. Baldwin & Lyons’ commitment to Indianapolis as its headquarters city was solidified when Lauth and Baldwin & Lyons executed an agreement for the purchase and sale of The Congressional Building. This purchase will allow for flexibility for Baldwin & Lyons’ growing operation, and enable it to commit to job creation of 140 new jobs in Central Indiana by December of 2018.
“We are very proud to have had the opportunity to partner with Baldwin and Lyons, and their delivery team on this exciting headquarters project. When you’re in the real estate development business, it’s always refreshing to see a facility get restored to its original Class A status”, said Mike Jones, President of Lauth Group, Inc.
The City of Carmel and the State of Indiana were instrumental in providing an economic incentive package that assisted the building acquisition process. The entire process from beginning to move-in, took approximately nine months and included significant building and space renovation. The Congressional was the largest owner-user office building purchase in 2013. The buyer (Baldwin & Lyons), was represented by Matt Waggoner and Rich Forslund with Summit Reality Group. The seller, and General Contractor (Lauth), was represented by John Vandenbark and Rick Trimpe with CBRE. Schott Design acted as the Lead Architect for the project.
Since 1977, Lauth has been building facilities for clients to lease or own throughout the United States. Lauth’s years of solid experience, coupled with completed projects worth billions, make it a leading national development and construction firm. Lauth delivers virtually any kind of facility including healthcare, industrial, office, or retail from offices nationwide. Additional Lauth information is available at http://www.lauth.net.