Technology-Driven Growth Fuels Need for Expanded Workspace
CARMEL, Ind. — KAR Auction Services, Inc. (NYSE: KAR), a global vehicle remarketing and technology solutions provider, today announced the development of a new Carmel, Indiana-based corporate headquarters and campus. The 13-acre site will host a new, 250,000 square foot office building featuring an open floorplan and broad collaborative workspaces. The building was designed to reflect both the company’s rich auto auction history and their international and technology-driven growth. Nearly 1,600 of KAR’s 17,400 employees are located in Indiana, and the new location provides space for an additional 400 jobs.
“We want to give our employees a workplace that reflects our entrepreneurial culture and inspires them to create and innovate the moment they walk through the door,” said Jim Hallett, chairman and CEO of KAR. “The new campus will give us the additional space necessary to increase our workforce as we expand our global footprint. And it will help our company, the city and the state attract and retain some of North America’s best and brightest talent.”
KAR has made central Indiana home for nearly 30 years and currently has 10 auction and office locations in Carmel, Fort Wayne, Indianapolis, Plainfield, and South Bend. Over the past five years, the company has expanded operations to more than 300 locations in the United States, Canada, Mexico, and the United Kingdom and added more than 5,000 jobs, including 700 in Indiana.
KAR is further deepening its Indiana roots and planning for future global growth with this approximately $80 million project. KAR’s new headquarters and campus will house the company’s innovation, technology and data as a service divisions and serve as the US headquarters for TradeRev, KAR’s mobile app-based auction subsidiary.
“I’m excited to celebrate KAR Auction Services’ continued commitment to growing its global footprint in Indiana,” Governor Eric Holcomb said. “Businesses from across the world recognize our state’s business-friendly environment, robust talent pipeline and reputation as the technology hub of the Midwest. We’ll continue taking Indiana to the next level, ensuring we’re the best place to grow jobs and a business.”
“It is very exciting to see another corporate headquarters built along our rapidly growing Meridian street corridor,” said Carmel Mayor Jim Brainard. “The city of Carmel has worked hard to foster a strong business climate focused on our quality-of-life strategies and keeping our local property taxes among the lowest in the state. Today’s announcement by KAR is evidence that Carmel is taking the right steps to create jobs and attract major private investments. We look forward to watching KAR grow and succeed in Carmel.”
The new corporate offices will be located two miles south of KAR’s current headquarters on the northeast corner of Illinois and W. 111th streets, reaffirming the company’s longstanding commitment to Carmel and central Indiana. The campus will feature a three-season outdoor courtyard, and will incorporate design ideas from KAR employees across the globe.
Construction on the new campus is scheduled to break ground in early 2018 with a target move-in date in the second half of 2019. The development team assisting KAR with this project includes: CBRE Group LLC, Ginovus LLC, Ice Miller, PURE Development, RATIO Architects, Shiel Sexton and US Realty.
About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 5.1 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 110 countries. Headquartered in Carmel, Ind., KAR has approximately 17,400 employees across the United States, Canada, Mexico and the United Kingdom. For more information go to www.karauctionservices.com. For the latest KAR news follow us on Twitter @KARSpeaks