The Custom Electronic Design and Installation Association recently sent out a press release stating it would build a new global headquarters in Fishers. CEDIA leads the home technology industry.
The announcement comes after approximately 18 months of research and financial analysis. The headquarters will be 40,000 square feet, three floors and cost $13.7 million.
CEDIA would occupy 30,000 square feet of the space and offer office space, a training facility, an experience center and an auditorium, all of which will be available for member use. The remaining square footage will be made available for tenants.
CEDIA has leased space in northwest Indianapolis since 2003. Its lease expires in October. Since 2003, CEDIA has spent $4 million in rent and upkeep. According to the release, CEDIA will stay in its current location on a month-to-month lease basis until the new Fishers headquarters is complete in fall of 2018.
“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,” CEDIA Chairman Dennis Erskine stated. “We came to this decision only after 18 months of careful consideration of all options, including renovating the current space, finding new lease space, buying an existing structure and finally, building. 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.”
CEDIA is working with American Structurepoint and Meyer Najem for design and space requirements of the headquarters.
For more, visit cedia.net.