INDIANAPOLIS – One of the state’s largest public companies is moving its headquarters from the west side of Indianapolis to downtown.
Calumet Specialty Products Partners LP has signed a lease for 52,000 square feet across three buildings on The Stutz campus at 1060 N. Capitol Ave. It plans to move the 200 employees from the company’s current west-side home to the new offices.
Camulet is the 13th-largest public company in the state and sixth-largest in central Indiana, based on IBJ research. It had $4.7 billion in revenue in 2022, the most recent year for which data is available.
“We’re excited to start Calumet’s next chapter in our new headquarters in the heart of Indianapolis,” Todd Borgmann, Calumet CEO, said in written remarks. “Calumet has been operating for over a century thanks to our innovative and entrepreneurial spirit. The Stutz building is a great fit for us with its own rich history of innovation and creativity. Our team will appreciate the access to great businesses in and around the building.”
SomeraRoad, a New York-based firm that acquired the Stutz campus in 2021 for $25.8 million, already has spent more than $100 million to renovate the former automotive factory into a mixed-use development with retail space, office space and, eventually, apartments.
In addition to more than a dozen new retail and customer-facing tenants coming onboard since last year, SomeraRoad completed 27,000 square feet of co-working space; 17,000 square feet of event space; and 15,000 square feet of fitness and lifestyle space. That’s in addition to a revamp of more than 80,000 square feet of office space.