CEDIA has announced that its board of directors has approved the building of a new global headquarters in Fishers, Indiana, northeast of Indianapolis.
The board came to this decision after more than 18 months of research, financial analyses and careful consideration of all options.
“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,” says CEDIA chairman Dennis Erskine.
The building, which is expected to cost $US13.7 ($A18.2) million, will be 37,000m2 and will include staff office space, a training facility, an experience centre and an auditorium. These will be spread over three floors and will be available for member use.
“We are incredibly excited to create a space that reflects CEDIA – we represent the very best in technology and yet we have struggled to accurately represent that in our current headquarters. The new headquarters will be a space that CEDIA members can not only be proud of, but can use for training, client tours, after-hours events and much more” says CEDIA chief operating officer and acting president/chief executive Tabatha O’Connor.
CEDIA has leased a space on the northwest side of Indianapolis since 2003 and will have spent over $US4 ($A5.3) million in rent and upkeep by the end of 2017. CEDIA’s lease will be up in October 2017 but the association has negotiated to stay with a month-to-month lease until the new headquarters are ready for occupancy, which is expected by early autumn 2018.
CEDIA is working with Indianapolis-based architect American Structurepoint and Meyer Najem Construction to determine the design and space requirements for the future global headquarters. The association has signed a purchase agreement for a plot of land in Fishers, with closing scheduled in the coming weeks.
CEDIA members interested in providing products and technical expertise to fully integrate the new global headquarters should contact email@example.com.