Capital Center

201 & 251 N Illinois St | Indianapolis, IN

655,000 SF | 17 Stories – North Tower; 22 Stories – South Tower

Capital Center is a 655,000 SF Class A office complex in downtown Indianapolis, consisting of two towers connected by a dramatic 250-foot glass atrium. When Zeller acquired the asset in 2018, it identified a compelling opportunity to enhance value through targeted reinvestment and amenity activation.

Renovation

Zeller launched an ambitious renovation plan in 2020, centered around reimagining the atrium as a vibrant social and collaborative hub. The 250-foot glass atrium was transformed into a signature feature, anchored by an upscale bar, intimate lounge areas with designer furnishings, and flexible gathering spaces with striking interior finishes. The adjacent outdoor plaza was redesigned with a glass fireplace, pergola, wood planters, and modern seating areas—seamlessly connecting the indoor and outdoor environments.

The renovation also introduced a new tenant-exclusive fitness center, a tech-enabled conference center with three meeting rooms, a social hub, and a redesigned lobby featuring a metal louvered wall, media wall, and art installations. Every detail of the common areas was considered—from the velvet and leather seating to the curated lighting and art—to foster a warm, hospitality-inspired atmosphere.

Zeller also completed significant base building upgrades including elevator modernization, corridor and restroom renovations, chiller replacements, and spec suite delivery. A curated tenant experience program with weekly events helped foster community, attract tenants, and drive leasing success.

Performance Highlights (2021-2023):

  • One-third of all new downtown office leases signed at Capital Center
  • In-place rents increased from $17.43 PSF to $28.00 PSF
  • 41,000 SF of furnished spec suites leased
  • New tenants: Spot Freight (42,000 SF), CHA (24,000 SF)
  • Recognized with BOMA 360 and TOBY Award for Renovated Buildings

Capital Center’s reinvestment strategy and amenity-forward repositioning created a magnetic workplace destination—yielding measurable leasing momentum and long-term asset value.


Capital Center
Construction Case Study

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Capital Center
Leasing Case Study

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