Colliers closed the sale of The Academy Building, a historic multi-tenant office building in downtown Indianapolis. The four-story, 30,436-square-foot building sits one block from Mass Ave at 429 E. Vermont St.
Alex Cantu and Alex Davenport with Colliers of Indianapolis facilitated the transaction on behalf of the seller, The Health Foundation of Greater Indianapolis, a private foundation that supports health-related projects and organizations that serve the community’s most vulnerable citizens. The asset was purchased by Shook Realty Group, LLC, an Indianapolis-based boutique real estate firm.
Built in 1911 as the St. Mary’s Academy, 429 E. Vermont St. embodies a preserved snapshot in history. The location provides immediate access to the amenities of the Mass Ave Cultural District and is a short walk to the Central Business District and Monument Circle.
The site also benefits from 30 on-site surface parking spaces. The Academy Building stands 86.6 percent occupied by 21 tenants from a variety of industries. It serves as the headquarters for The Health Foundation of Greater Indianapolis.
