Market Tower

Last updated

Market Tower
Market Tower Indianapolis July 2022.jpg
Market Tower in 2022
Market Tower
General information
StatusCompleted
TypeOffice
Location10 W. Market St.
Indianapolis, Indiana, U.S.
Coordinates 39°46′8″N86°9′34″W / 39.76889°N 86.15944°W / 39.76889; -86.15944 Coordinates: 39°46′8″N86°9′34″W / 39.76889°N 86.15944°W / 39.76889; -86.15944
Topped-outApril 9, 1988;34 years ago (1988-04-09)
CompletedOctober 18, 1988;34 years ago (1988-10-18)
Cost US$92 million
OwnerSquare Deal Capital
Height421 ft (128 m)
Technical details
Floor count32
Floor area569,949 sq ft (52,950.0 m2) [1]
Design and construction
Architecture firmLohan Associates, Inc.
DeveloperMansur Development Corporation
Main contractor Huber, Hunt & Nichols, Inc.
Website
www.market-tower.com

Market Tower is a high-rise office building located at the northeast corner of Illinois and Market streets in Indianapolis, Indiana, United States. At the time of its completion in 1988, Market Tower was the largest privately financed speculative office project developed in the city. It is the fourth-tallest building in Indianapolis [2] and the fifth-tallest building in Indiana. Market Tower is the second-tallest reinforced concrete building in the state, [2] after the Indiana Michigan Power Center in Fort Wayne, Indiana.

Contents

History

Market Tower was topped-out on April 9, 1988. [3] At the time of the building's dedication on October 18, 1988, it was 60% pre-leased. [4]

In 1991, the Indiana Department of Natural Resources installed a nest box atop Market Tower as part of a statewide species reintroduction program for peregrine falcons. [5] The nest box is located on the southeast corner of the tower's 31st floor. [6] Since the first pair took roost in 1995, peregrine falcons have continuously occupied the site as recently as 2021. [5] [7]

In May 2014, the building's owner, HDG Mansur, was ordered to sell the property after defaulting on loans worth US$60 million. Zeller Realty Group purchased Market Tower for US$52.7 million in October 2014. [8] Over the ensuing years, Zeller completed US$7 million in renovations then sold the building to Square Deal Capital in 2017. [9]

According to the Indianapolis Business Journal , building amenities include a cafe, a conference center, a fitness center, and a restaurant. In 2022, the tower was 85% occupied, with tenants including multinational law firm Dentons and the United States Attorney's office for the United States District Court for the Southern District of Indiana. [10]

Design

The building's façade appears much like a grid, clad in red and gray granite and metal mullions framing tinted windows. A series of setbacks gives way to a buttressed, copper roof topped with eight spires. [11] Beginning on the second floor of its eastern façade, the tower's floorplate cantilevers over an alleyway. The building contains a three-level underground parking garage and a three-story atrium fronting W. Market St. [2]

Market Tower's postmodern design borrows architectural elements found in neighboring landmarks. [2] Cornelius Alig, president of Mansur Development Corporation in 1988, noted that the company "made it our priority" that the tower's design complement existing architecture near Monument Circle. [11]

Steve Mannheimer, architecture critic writing for The Indianapolis Star , remarked on the influences:

"The step-backs echo the Circle Tower. [lower-alpha 1] The bays pay some homage to the Columbia Club, [lower-alpha 2] as does the copper roof, which also harkens to the City Market. The double-height main entrance on Market Street is a reminder of the Guaranty Building. (...) Market Tower is enriched by a set of historical motifs that make it — despite its restrained and hence almost 'international' stylistic rendering — an Indianapolis building much more than other Downtown skyscrapers." [11]

See also

Notes

  1. ↑ Completed in 1930, Circle Tower was the first building in the city to employ setbacks in its design. [12]
  2. ↑ A multi-story oriel window protrudes from the main façade of the Columbia Club, [13] similar to the cantilevered eastern façade of Market Tower.

Related Research Articles

<span class="mw-page-title-main">Truist Plaza</span> Skyscraper in downtown Atlanta, Georgia, United States

Truist Plaza is a 265 m (869 ft) 60 story skyscraper in downtown Atlanta. It was designed by John C. Portman, Jr. of John Portman & Associates and built from 1989 to 1992. In the mid-1990s, Portman sold half of his interest in the building to SunTrust Banks, which then moved its headquarters to the building and prompted a name change from One Peachtree Center to SunTrust Plaza. In 2021 the building changed its name to Truist Plaza, following a merger between SunTrust Banks and BB&T. The building is also known as 303 Peachtree. The building has a roof height of 871 feet and stands a total of 902 feet tall, including its antenna. When completed, Truist Plaza stood as the world's 28th tallest building and 21st tallest building in the United States. It is currently the 55th tallest building in the United States and 2nd tallest building in Atlanta.

<span class="mw-page-title-main">Salesforce Tower (Indianapolis)</span> Skyscraper in Indianapolis, Indiana, U.S.

Salesforce Tower is the tallest building in the U.S. state of Indiana. Opening in 1990, it surpassed the AUL Tower in Indianapolis for the distinction. The building's twin spires' are 811 feet (247 m) tall, while the 48 floors of office and retail space and 2 building equipment floors above that peak at the 701-foot (214 m) roof. It is the regional headquarters of Salesforce, which moved into the tower in the late-2010s and currently occupies a large amount of space in the building. While the tower has two spires of equal height, only one of them is functional as a transmission antenna. The other mast is merely an architectural decoration. The building was designed by KlingStubbins, and built by Indianapolis-based Huber Hunt & Nichols.

1201 Third Avenue is a 235.31-meter (772.0 ft), 55-story skyscraper in Downtown Seattle, in the U.S. state of Washington. It is the third-tallest building in the city, the eighth-tallest on the West Coast of the United States, and the 97th-tallest in the United States. Developed by Wright Runstad & Company, construction began in 1986 and finished in 1988. 1201 Third Avenue was designed by Kohn Pedersen Fox Associates and The McKinley Architects. The building was the world headquarters of the financial company Washington Mutual from the building's opening until 2006, when the company moved across the street to the WaMu Center.

<span class="mw-page-title-main">Tour de la Bourse</span> Office skyscraper in Montreal, Quebec, Canada

The Tour de la Bourse is a 48-storey skyscraper in Montreal, Quebec, Canada. It is located at the intersection of Victoria Square and Saint Jacques Street in the International Quarter. It is connected by the underground city to the Square-Victoria-OACI Metro Station.

<span class="mw-page-title-main">U.S. Bank Center (Milwaukee)</span> Tallest skyscraper located in downtown Milwaukee, Wisconsin

U.S. Bank Center is a skyscraper located in downtown Milwaukee, Wisconsin, noted for being the tallest building in the state of Wisconsin, and the tallest building between Chicago and Minneapolis. Standing 601 feet (183 m) and 42 stories tall, the building has a floor area of 1,077,607 sq ft (100,113.0 m2) and it surpassed the Milwaukee City Hall as the tallest building in both the city and the state. Topped off August 29, 1972, and completed in 1973, it was the headquarters for what eventually became Firstar Corporation from 1973 to 2001. The building was designed by Colombian-Peruvian architect Bruce Graham with James DeStefano of Skidmore, Owings & Merrill, and engineered by Bangladeshi-American structural engineer Fazlur Rahman Khan. As of 2017, the building is home to the headquarters of Foley & Lardner, Robert W. Baird & Company, Sensient Technologies Corporation, and is the Milwaukee office for U.S. Bank, IBM, and CBRE.

<span class="mw-page-title-main">Downtown Indianapolis</span> Central business district of Indianapolis, Indiana, U.S.

Downtown Indianapolis is a neighborhood area and the central business district of Indianapolis, Indiana, United States. Downtown is bordered by Interstate 65, Interstate 70, and the White River, and is situated near the geographic center of Marion County. Downtown has grown from the original 1821 town plat—often referred to as the Mile Square—to encompass a broader geographic area of central Indianapolis, containing several smaller historic neighborhoods.

<span class="mw-page-title-main">WoodmenLife Tower</span> Building in Nebraska, U.S.

WoodmenLife Tower, formerly the Woodmen Tower, is a 478-ft (146-m) high-rise building at 1700 Farnam Street in downtown Omaha, Nebraska, and headquarters of WoodmenLife insurance company.

<span class="mw-page-title-main">Transamerica Tower (Baltimore)</span> Mixed use in Baltimore, Maryland

Transamerica Tower and originally built as the USF&G Building, serving as headquarters of the United States Fidelity and Guarantee Company, a specialized insurance company founded in Baltimore in 1896, and relocated here from its former complex of three adjoining early 20th Century masonry structures at the southwest corner of South Calvert and Redwood Streets. Later occupied by and known as the Legg-Mason Building, it is a 40-story, 161 m (528 ft) skyscraper completed in 1973 in downtown Baltimore, Maryland at 100 Light Street on the city block bounded by South Charles, East Lombard, Light and East Pratt Streets, facing the former "The Basin" of the Helen Delich Bentley Port of Baltimore on the Northwest Branch of the Patapsco River and the newly iconic Inner Harbor downtown business waterfront redevelopment of the 1970s–1980s. It is the tallest building in Baltimore and in Maryland.

<span class="mw-page-title-main">33 South Sixth</span> Skyscraper

33 South Sixth, formerly known as International Multifoods Tower, is a skyscraper in Minneapolis, Minnesota. It was designed by Skidmore, Owings and Merrill and stands 52 stories tall at 668 ft (204 m). Its name comes from its address: 33 South Sixth Street, Minneapolis. It was completed in 1983 as headquarters for International Multifoods Corporation, which occupied the structure until 1997 when it moved to suburban Wayzata. Although the corporate offices relocated, the name remained until 2003 under the terms of its lease. Adjacent to the tower is the Minneapolis City Center shopping mall, which occupies the ground level, skyway, and third levels.

<span class="mw-page-title-main">Regions Tower (Indianapolis)</span> Skyscraper in Indianapolis, Indiana, U.S.

Regions Tower, also known as One Indiana Square, is a 36-story building at 211 North Pennsylvania Street in downtown Indianapolis, Indiana, United States. It is used by various companies for offices. The building opened in 1970 as the headquarters of Indiana National Bank. The building now serves as the Indiana headquarters for Regions Financial Corporation. The building also carries the Regions name and logo.

<span class="mw-page-title-main">BMO Plaza</span> High-rise office building in Indianapolis, Indiana, U.S

BMO Plaza, formerly the M&I Plaza, is a high-rise office building located at 135 North Pennsylvania Street in Indianapolis, Indiana. It was completed in 1988 and is currently the sixth-tallest building in the city, at 401 ft (122 m) with 28 stories. It is primarily used for office space. At 432,300 square feet (40,160 m2), BMO Plaza is the ninth-largest office building downtown, according to IBJ statistics. Tenants include BMO Harris Bank, U.S. Department of Defense, and General Electric Capital Services.

<span class="mw-page-title-main">Riley Towers</span> High-rise residential buildings in Indianapolis, Indiana, U.S.

Riley Towers are three residential high-rise apartment buildings in downtown Indianapolis, Indiana, United States. Riley Towers were conceived as part of an expansive urban renewal project known as Project H. The complex was constructed between 1962 and 1963. Towers I and II have 30 floors and Tower III has 16 floors. Riley Towers I and II are the tallest residential buildings in the state of Indiana. The towers are distinctive for their cantilevered corner balconies.

<span class="mw-page-title-main">220 Meridian</span> High-rise mixed-use building in Indianapolis, Indiana, U.S.

The 220 Meridian, formerly known as the AT&T 220 Building, is a 23-floor high rise located at 220 North Meridian Street in Indianapolis, Indiana. It was completed in 1974 when it served as the headquarters of Indiana Bell.

<span class="mw-page-title-main">Kodak Tower</span> Skyscraper in Rochester, New York

Kodak Tower is a 19-story skyscraper in the High Falls District of Rochester, New York, and is part of the Eastman Kodak Headquarters complex. It has a roof height of 340 ft (103.6 m) and stands 366 ft (111.6 m) with its antenna spire included. It was Rochester, New York's tallest building for over 50 years from its completion in 1914 until the Xerox Square Tower surpassed it in the late 1960s. Today, it is the 4th tallest building in Rochester, NY and is the 9th tallest building in New York State outside NYC.

<span class="mw-page-title-main">State Tower Building</span> Historic commercial building in New York, United States

The State Tower Building is a high-rise building located in Syracuse, New York. Completed in 1928, the building remains the highest in Syracuse. It has around 23 floors and is around 312 feet tall. For several years after the Bastable Theatre burnt down in a 1923 fire, the plot of land was considered as the potential site of a new theatre or an office building. Eventually the plot's owners, Central Offices decided to build an office building. Designed by Thompson & Churchill, work began on the foundation of the State Tower Building in 1927. The tower was completed by late April 1928.

<span class="mw-page-title-main">Travelers Tower</span> Commercial offices in Hartford, Connecticut

Travelers Tower is a 24-story, 160.63 m (527.0 ft) skyscraper in downtown Hartford, Connecticut. Travelers Tower was the seventh tallest building in the world when it was constructed in 1919, and is currently the second tallest building in Hartford. Travelers Tower is the fourth headquarters of Travelers Insurance Company. The architect of Travelers Tower was Donn Barber, who also designed the Connecticut State Library, Supreme Court Building and The Hartford Times Building.

<span class="mw-page-title-main">Monarch Place</span> Building in Springfield, Massachusetts

Monarch Place is a commercial office tower with ground-floor retail spaces, located in Springfield, Massachusetts. Monarch Place is the tallest building in Springfield, the tallest building in Massachusetts outside of Boston, and the eighth tallest building in New England outside of Boston. Originally built by the namesake Monarch Capital Corporation, at the time of its completion in 1989 it was the largest mixed-use development in Massachusetts outside of Boston.

<span class="mw-page-title-main">360 Market Square</span> High-rise residential building in Indianapolis, Indiana, U.S.

360 Market Square, previously known as Market Square Tower, is a residential skyscraper in downtown Indianapolis, Indiana. 360 Market Square stands on the northern portion of the block formerly home to Market Square Arena. The 28-story building is 290.5 feet (88.5 m) tall and features 648,561 sq ft (60,253.3 m2) of floor space. It is the third tallest residential building in Indianapolis and is the 15th tallest building in the city overall. 360 Market Square includes a 2,000 sq ft (190 m2) ground-level Starbucks, a 40,000 sq ft (3,700 m2) Whole Foods, and 525-space parking garage. The project cost totaled US$121 million.

References

  1. ↑ "Market Tower". Skyscraper Center. CTBUH. Retrieved August 5, 2022.
  2. 1 2 3 4 Alig, Cornelius M. (December 2022). "Market Tower". Digital Encyclopedia of Indianapolis. Indianapolis Public Library. Retrieved January 14, 2023.
  3. ↑ "Tower ceremony April 9" . The Indianapolis News. March 2, 1988. p. 41. Retrieved January 14, 2023– via Newspapers.com. A 'topping out' ceremony April 9 will mark the completion of the 32nd floor of Market Tower in downtown Indianapolis.
  4. ↑ Swiatek, Jeff (October 19, 1988). "Vacancy rate doesn't dampen opening" . The Indianapolis Star. p. 14. Retrieved January 15, 2023– via Newspapers.com. Indianapolis' newest office tower opened with a champaign bottle-busting dedication Tuesday, even as the city's Downtown office vacancy rate jumped to a record high 18.8 percent. (...) 'Market Tower is 60 percent pre-leased,' he said.
  5. 1 2 "New falcon family settles Downtown" . The Indianapolis News. The Associated Press. April 28, 1995. p. 20. Retrieved January 19, 2023– via Newspapers.com. The parents of the youngsters originally were released in Kentucky and Wisconsin, but they met in Indianapolis and made their home in a nesting box atop Market Tower, 10 W. Market St., with a commanding view of Monument Circle. Their successful brooding and hatching about a week ago represents the first documented nesting of peregrine falcons in the Hoosier capital. (...) The nesting box on Market Tower was erected in 1991, the year Indiana's reintroduction project began with the release of 15 birds.
  6. ↑ Ryckaert, Vic (April 18, 2017). "Nature can be cruel: The life and death of a Downtown falcon" . The Indianapolis Star. p. A8. Retrieved January 19, 2023– via Newspapers.com. The nest box is located on the southeast corner of the Market Tower's 31st floor and overlooks Monument Circle.
  7. ↑ Hartz, Michael (July 8, 2021). "The sky's the limit for Indiana's peregrine falcon population". WRTV. Retrieved January 19, 2023.
  8. ↑ Olson, Scott (September 4, 2014). "Two downtown office towers changing hands". Indianapolis Business Journal . Retrieved January 14, 2023.
  9. ↑ Olson, Scott (September 25, 2017). "Oklahoma City firm set to buy spiffed-up Market Tower". Indianapolis Business Journal . Retrieved January 14, 2023.
  10. ↑ "Largest Downtown Office Complexes". Indianapolis Business Journal. IBJ Media. September 6, 2022. Retrieved January 14, 2023.
  11. 1 2 3 Mannheimer, Steve (October 30, 1988). "Tower a vision of modified modernism" . The Indianapolis Star. p. E10. Retrieved January 14, 2023– via Newspapers.com. The tower's gridded skin is a muted modernist plaid of red and gray granite and metal mullions, as gentle and genteel as suit cloth. (...) Around 'shoulder' level, the building begins to step back to culminate in a tailored assemblage of historical echoes: A buttressed, copper-clad roof topped by eight, almost anachronistic spires that nonetheless lend the building its final skyward fling. (...) 'We thought it was important to build a building that contributed to the overall Circle area,' he said. 'We made it our priority to design it to include some of the architectural elements of some of the more significant buildings.' (...) The step-backs echo the Circle Tower. The bays pay some homage to the Columbia Club, as does the copper roof, which also harkens to the City Market. The double-height main entrance on Market Street is a reminder of the Guaranty Building. (...) Market Tower is enriched by a set of historical motifs that make it — despite its restrained and hence almost 'international' stylistic rendering — an Indianapolis building much more than other Downtown skyscrapers.
  12. ↑ Grieff, Glory-June (2021) [1994]. "Circle Tower". Digital Encyclopedia of Indianapolis. Indianapolis Public Library. Retrieved January 14, 2023.
  13. ↑ Gildea, Robert L. (2021) [1994]. "Columbia Club". Digital Encyclopedia of Indianapolis. Indianapolis Public Library. Retrieved January 14, 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.