CARMEL — Encore Sotheby’s International Realty plans to build a new $5 million headquarters at the intersection of Old Meridian Street and Pennsylvania Avenue in Carmel, the company announced Thursday.
Work will begin on the three-story, nearly 20,000-square foot building this spring at 12411 N. Pennsylvania Ave. The real estate firm that handles high-end properties opened in 2010.
Mark Zukerman, the company’s chief executive, said the firm does $200 million in annual sales and will move about 40 employees to Carmel. The firm is moving from 96th Street and Meridian Street in Marion County, where it leases a little more than 6,000 square feet. The new building should be open in late 2017.
About 13,000 square feet will be available for lease, including restaurants and retail on the first floor. Jet Linx Indianapolis, a charter aircraft service, already has agreed to open a boutique, sales and marketing office in the building.
Mayor Jim Brainard said the city is not offering incentives other than, he joked, low taxes and high quality of life.
Brainard said the corner lot is difficult to develop and he’s glad to see Encore Sotheby’s make good use of it.
Call IndyStar reporter Chris Sikich at (317) 444-6036. Follow him on Twitter: @ChrisSikich and at facebook/chris.sikich.