Carmel, Indiana-based Lauth Group has acquired the Pan Am Tower in downtown Indianapolis from San Francisco-based Coastal Partners LLC. Located at 201 S. Capitol Ave., the 12-story, 138,000-square-foot office building anchors the Pan Am Plaza development, which is also home to the recently announced Kite plaza development project.
Lauth will self-manage the building through its property management group and will have an onsite management office within the building. It has plans to renovate interior public areas of the building, including the lobby, restrooms and workout facility.
Adam Broderick and Kevin Gillihan with JLL will assist with leasing the property, which is currently more than 90 percent leased. The building’s 12,500-square-foot floorplates offer flexiblity for full- and partial-floor tenants.
Lauth represented itself in negotiations for purchase of the building. Coastal Partners was represented by Dan Richardson of CBRE. The sales price was not disclosed.
