Indianapolis Business Journal: City proceeding with public safety complex at Eastgate
The city of Indianapolis is moving forward to consolidate several public safety units at the former Eastgate shopping center after the City-County Council approved a 25-year lease for the space.
A Monday Council vote of 23-6 enables the city’s Department of Public Safety to lease 76,000 square feet in the building at a cost of $9.01 per square foot the first 10 years and $10 per square foot the final 15 years. The cost per year for the first 10 years is $685,000 and the cost per year for the final 15 years is $760,000.
Building owner Lifeline Data Centers, which bought the 40-acre property in May 2008 from Dallas-based JTL Capital LLC, plans to invest $8.6 million to renovate the space the city will occupy.
The city plans to consolidate several public safety units, including local operations of the Department of Homeland Security, in the southwest corner of the building. The city had considered leasing up to 210,000 square feet, but the size of the lease was scaled back. It’s possible the city’s Regional Operations Center, as it will be called, will expand in a subsequent phase.
More of the IBJ.com article from Scott Olson