The Zionsville Economic Redevelopment Commission met May 22 at Zionsville Town Hall and approved a development presented by Kendall Property Group, LLC to purchase a lot in Creekside Corporate Park.
Kendall Property Group, which manages development, construction and financial risk of multifamily developments, is purchasing Lot 9 for $300,000 and plans to build a new $6 million headquarters consisting of a two-story multi-tenant commercial office building. The company’s current headquarters is in Indianapolis.
J.R. Kendall, president of Kendall Property Group, said it expects to break ground on the new headquarters this fall.
“The plan. process, and predevelopment will take about four months,” he said. “Hopefully, we can have plans done around September of this year and then start around Nov. 1.”
The new headquarters will be approximately 20,000 square feet. The company plans to lease out 15,000 square feet.
“We plan to lease to professional service businesses, people that need easy access but don’t need a retail site like accountants and lawyers,” Kendall said. “We’ll be taking 5,000 square feet of it.”
Kendall said the company plans to invest up to $6 million into building the multi-tenant building.
The new headquarters will bring nearly 75 employees with average annual salaries of $70,000 to Zionsville, according to Kendall.
“I’ve driven by this lot multiple times a day since we moved to the village 10 years ago,” Kendall said. “I believe that the visibility of the site and the proximity to Main Street will make this a great home for our company. Having easy access to the trail system will provide a great opportunity for our employees and tenants to enjoy the beautiful setting and our great downtown restaurants and shops.”
Kendall has been a Zionsville resident for 10 years and looks forward to living and working in town.
“For me, it’s exciting to be able to live and work in Zionsville,” he said. “I’m ready for a change and to be closer to home.”