CEDIA has announced plans to build a new global headquarters in Fishers Ind., a suburb just northeast of Indianapolis. After more than 18-months of research, financial analyses, and due diligence, the CEDIA Board determined that a new built-to-suit global headquarters would provide the best solution for the current and future needs of the association and its members.
The building will be 40,000 square feet total on three floors and is expected to cost $13.7 million dollars. CEDIA plans to occupy 30,000 square feet, which will include staff office space, as well as a world-class training facility, an experience centre, and an auditorium, all of which will be available for member use. Ten thousand square feet will be made available for tenants.
“Building a new headquarters in a desirable, high-growth area gives the CEDIA membership an asset with appreciating value, as well as opportunity for monthly revenue from tenants,” said Dennis Erskine, CEDIA Chairman. “We had three separate financial firms vet the build-to-suit alternative, and all concluded that real estate in this booming area was a sound investment, and a solid strategy to diversify CEDIA’s overall investment portfolio.”
“The new global headquarters will be a space that CEDIA members can not only be proud of, but can utilise for training, client tours, after-hours events, and much more,” said Tabatha O’Connor, CEDIA COO and Acting President/CEO.