The Indianapolis Star
July 20, 2001

Zeller Realty purchases 4 Carmel office buildings

Carmel, Ind. – Zeller Realty Corp. has bought three office buildings at 116th and Meridian streets: Meridian Mark I, Meridian Mark II and One Penn Mark.

The eight-story buildings – the tallest in Carmel – encompass more than 529,973 square feet of space. The company also bought a building at 11711 N. College Ave. that contains 74,395 square feet.

Current tenants include AT&T, Cisco Systems, St. Vincent Hospital and Liberty Mutual Insurance Co.

The deal closed Tuesday. Although exact terms were not disclosed, $48.4 million in financing was arranged by the Indianapolis office of Holliday-Fenoglio Fowler LP.

Zeller plans “significant capital upgrades and improvements to the properties,” which were bulit in the mid-‘80s.

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