Indiana’s tallest building, Salesforce Tower sold to Oklahoma investment firm

INDIANAPOLIS (Inside INdiana Business) — Indiana’s tallest building has a new owner after Oklahoma City-based Square Deal Investment Management acquired Salesforce Tower from California-based Hertz Investment Group for $192.5 million. Salesforce Tower now gives the company its second building in downtown Indianapolis, after Market Tower.

Square Deal Director of Asset Management Andy Ridley says the company had been trying to expand its Indianapolis footprint for several years.

“We are thrilled and honored to acquire the city’s trophy asset and are fortunate to have this rare opportunity. Indianapolis is characterized by its business opportunities and its citizens whose passion for their city make it an ideal place to live and work, and we are proud to continue planting roots here.”

Cushman and Wakefield’s David Moore, Bennett Williams and Russ van Til are handling the leasing work at the 49-floor Salesforce Tower. 

“While we recognize that the pandemic has created an evolving office market, we have a long-term outlook that the highest quality assets will maintain relevancy in the market,” said Mark Beffort, chief operating officer and vice president at Square Deal. “We look forward to elevating the Salesforce Tower and the tenant experience that has represented decades of hard work in Indiana for decades to come.”

Square Deal says the building will continue to be known as Salesforce Tower, with no renaming plans.