Downtown Indianapolis Office Site Selection
Client-facing survey of downtown office options ranked by size fit, layout, parking, occupancy cost, image, and move-in readiness.
Table of Contents
This HTML version mirrors the deck flow: criteria first, then the map, a summary table, recommendations, property reviews, and next steps.
Decision Framework
Executive Read
The strongest options are not simply the cheapest. They are the suites that best solve the tenant’s daily operating needs without forcing unnecessary size, parking friction, or major layout compromise.
Top 3 to tour:
Lacy Building, Landmark Center, BMO Plaza.
CBD options
Score 92
Score 90
Score 89
then RFP
Downtown Indianapolis Map
Most finalists are clustered around Monument Circle and Pennsylvania / Meridian. Landmark creates a north-CBD alternative, while Pan Am Plaza offers a south-CBD parking-oriented option.
Shortlist Comparison
All rents are shown as Full Service. Where exact economics were not available, normalized estimates were used strictly for comparison.
| # | Property | Suite | SF | FS Rent | Monthly | Parking | Office / Conference Fit | Score |
|---|---|---|---|---|---|---|---|---|
| 1 | Lacy Building 54 Monument Circle |
3rd Floor | 1,634 | $24.00/SF | $3,268/mo | Interior garage with secure access | 4–5 enclosed rooms / flexible conference | 92 / A |
| 2 | Landmark Center 1099 N Meridian St |
Suite 170 | 1,588 | $22.50/SF | $2,978/mo | On-site parking area plus nearby public parking | 2–3 rooms / 1 flex room | 90 / A- |
| 3 | BMO Plaza 135 N Pennsylvania St |
Suite 1125 | 1,880 | $25.00/SF | $3,917/mo | Attached parking garage | 4 rooms / 1 possible conference | 89 / A- |
| 4 | PNC Center 115 W Washington St |
Suite 1585 | 1,281 | $25.50/SF | $2,722/mo | 305-space subterranean parking lot | 3 rooms / 1 flex room | 84 / B+ |
| 5 | Pan Am Plaza 201 S Capitol Ave |
Suite 510 | 1,800 | $24.00/SF | $3,600/mo | On-site parking supply | 3–4 rooms / possible conference | 82 / B+ |
| 6 | Guaranty Building 20 N Meridian St |
Suite 201 | 1,871 | $25.00/SF | $3,898/mo | Nearby public garages / monthly parking options | 4 rooms / 1 flex room | 80 / B |
| 7 | Chamber of Commerce Building 320 N Meridian St |
Suite 1106 | 2,125 | $23.60/SF | $4,179/mo | Convenient adjacent parking | 5+ rooms / executive conference access | 73 / B |
| 8 | Regions Tower 211 N Pennsylvania St |
Suite 2060 | 2,275 | $24.50/SF | $4,645/mo | Large structured parking supply | 4–5 rooms / possible conference | 68 / B- |
Recommendation
Start with the top three. They best balance size alignment, layout, image, parking, and occupancy cost.
Lacy Building
3rd Floor
1,634 SF | $24.00/SF FS | Score 92
- Closest fit to target size
- Move-in ready with strong image
- Interior parking garage access
Landmark Center
Suite 170
1,588 SF | $22.50/SF FS | Score 90
- Best value position
- Right-sized plan
- Practical parking setup
BMO Plaza
Suite 1125
1,880 SF | $25.00/SF FS | Score 89
- Attached parking garage
- Class A building image
- Strong tenant amenity package
Property Review
Individual review of each candidate suite with layout, parking, estimated economics, and fit commentary.
Lacy Building | 3rd Floor
54 Monument Circle · 1,634 SF · $24.00/SF FS · est. $3,268/mo
- Parking
- Interior garage with secure access
- Office Fit
- 4–5 enclosed rooms · Conf: Flexible
- Cost
- $24.00/SF FS · $3,268/month
Why it fits
- Closest fit to target size
- Move-in ready with strong image
- Monument Circle views and elevator exposure
Watchouts
- Historic floorplate limits open area
- Live asking rate should be confirmed before RFP
Landmark Center | Suite 170
1099 N Meridian St · 1,588 SF · $22.50/SF FS · est. $2,978/mo
- Parking
- On-site parking area plus nearby public parking
- Office Fit
- 2–3 rooms · Conf: 1 flex room
- Cost
- $22.50/SF FS · $2,978/month
Why it fits
- Right inside the target size band
- Better value position than core Monument Circle options
- Practical parking situation compared to most CBD suites
Watchouts
- Less central than the Monument Circle cluster
- Layout has character, but should be walked for flow
BMO Plaza | Suite 1125
135 N Pennsylvania St · 1,880 SF · $25.00/SF FS · est. $3,917/mo
- Parking
- Attached parking garage
- Office Fit
- 4 rooms · Conf: 1 possible
- Cost
- $25.00/SF FS · $3,917/month
Why it fits
- Attached garage is a major advantage
- Class A image with building amenities
- Strong professional presentation for client meetings
Watchouts
- Slightly above the target size range
- Higher monthly occupancy than smaller finalists
PNC Center | Suite 1585
115 W Washington St · 1,281 SF · $25.50/SF FS · est. $2,722/mo
- Parking
- 305-space subterranean parking lot
- Office Fit
- 3 rooms · Conf: 1 flex room
- Cost
- $25.50/SF FS · $2,722/month
Why it fits
- Class A institutional image
- On-site subterranean parking
- Efficient small-suite plan
Watchouts
- Below target size band
- Limited room for growth
Pan Am Plaza | Suite 510
201 S Capitol Ave · 1,800 SF · $24.00/SF FS · est. $3,600/mo
- Parking
- On-site parking supply
- Office Fit
- 3–4 rooms · Conf: Possible
- Cost
- $24.00/SF FS · $3,600/month
Why it fits
- Parking is a differentiator
- Suite can support offices and a meeting room
- Good access to Convention Center / Capitol Ave
Watchouts
- South CBD location may not feel as core
- Slightly above target size
Guaranty Building | Suite 201
20 N Meridian St · 1,871 SF · $25.00/SF FS · est. $3,898/mo
- Parking
- Nearby garages / monthly parking options
- Office Fit
- 4 rooms · Conf: 1 flex room
- Cost
- $25.00/SF FS · $3,898/month
Why it fits
- Direct Monument Circle location
- Historic building character
- Multiple perimeter rooms
Watchouts
- No dedicated on-site parking noted
- Above target size range
Chamber of Commerce Building | Suite 1106
320 N Meridian St · 2,125 SF · $23.60/SF FS · est. $4,179/mo
- Parking
- Convenient adjacent parking
- Office Fit
- 5+ rooms · Conf: Executive conference room access
- Cost
- $23.60/SF FS · $4,179/month
Why it fits
- Utilities included / flexible lease structure
- Adjacent parking and conference access
- Already built-out with many enclosed rooms
Watchouts
- Too much space for the stated need
- Higher monthly occupancy due size creep
Regions Tower | Suite 2060
211 N Pennsylvania St · 2,275 SF · $24.50/SF FS · est. $4,645/mo
- Parking
- Large structured parking supply
- Office Fit
- 4–5 rooms · Conf: Possible
- Cost
- $24.50/SF FS · $4,645/month
Why it fits
- Strong downtown tower address
- Several built offices already in place
- Parking supply is meaningful
Watchouts
- Most oversized finalist
- Highest estimated monthly spend of the shortlist
Next Steps
Confirm the tour list, verify live economics and parking, tour the top finalists, then request proposals for the 2–3 strongest options.