Tuesday, September 23, 2008
American Goes Full Steam Ahead With Expansion Plans
News summary by MFWire's editors
The current market turmoil isn't keeping American Funds
down. The Los Angeles-headquartered fund firm is expanding its plans for a new campus in Carmel, Indiana. Aside from a three-story 106,000-square-foot building the company purchased in 2007, American Funds said the campus will also include a five-story, 175,000-square-foot office building and and a single-story, 32,000-square-foot mail processing center.
The development, to be completed in 2010, will cost an estimated $50 million. The campus will house
about 1,500 employees.
Back in August, Vanguard Group
, which was also in the midst of building a new campus, decided to indefinitely postpone its plans. The planned campus at Happy Days farm would have held 10,000 crew members. (see The MFWire
August 21, 2008)
Company Press Release
CARMEL, Ind.--(BUSINESS WIRE)--The Capital Group Companies, a 77-year-old privately held investment management organization, announced groundbreaking for two additional buildings on its 24-acre campus along the North Meridian Street corridor in Carmel, IN. In addition to the current three-story, 106,000-square-foot phase one building that the Capital Group purchased from Opus North in 2007, the campus will include a five-story, 175,000-square-foot office building with a full-service café and a single-story, 32,000-square-foot mail processing center. The landscaped campus will include water features, a walking trail, and covered walkways connecting all three buildings. The Capital Group will invest nearly $50 million in the development, which is expected to be completed in early 2010. Once fully developed, the campus will accommodate approximately 1,500 associates.
The campus was designed to create a strong sense of community for the Capital Group’s associates locally who are currently split between locations in Carmel and Indianapolis. Each new office building on the campus will feature floor-to-ceiling glass for abundant natural light and expansive views of the landscaped campus. Managers’ offices will be located in the core of the buildings with glass walls that encourage an open-door approach to business. The entire campus will have wireless Internet access.
In designing and constructing the campus, the Capital Group partnered with TVS and Opus North to create a facility that will be both aesthetically appealing and efficient. This goal led the organization to look at everything from renewable construction material selections to landscaping to the food and equipment in the café to create an eco-friendly campus that has less long-term impact to the environment.
“The teams at TVS and Opus North have been instrumental in helping the Capital Group team plan and design a facility that helps us create the type of environment we want for our associates – a friendly, safe, inviting workplace with state-of-the-art technology,” said L.G. Edwards, general manager of American Funds Service Company, a division of The Capital Group Companies. “We’ve been ranked by the Indiana Chamber of Commerce as one of the best places to work in Indiana for the past two years. Providing associates with a campus rich in amenities is just one of the many things we do to make sure we live up to that honor.”
Other project features include:
* Recycling initiatives during both the construction and occupancy phases.
* A storm water and water quality system utilizing on-site wetlands.
* Low VOC finishes, which are eco-friendly, for interior spaces including carpet, paint, doors and millwork.
* A building management system with more refined controls of lighting and mechanical systems to reduce energy consumption.
* A pedestrian-friendly campus with walking paths and bicycle racks to support the Capital Group’s Health and Wellness programs.
The campus is adjacent to the pick-up and drop-off station for the Indy Go Commuter Express, which provides daily public transit service to and from downtown Indianapolis.
TVS is a leading design firm with 40 years of proven experience in planning, architecture and interior design. With offices in Atlanta, Chicago, Shanghai and Dubai, the firm offers services to the public assembly, retail, office workplace, hospitality and entertainment markets. Additional information on TVS can be found at www.tvsa.com.
Opus North Corp. is headquartered in Rosemont, Ill., with offices in Milwaukee, Cincinnati, Columbus, Ohio, and Indianapolis, and is one of five regional companies within the Opus Group. Opus North has developed 311 projects totaling more than 47 million square feet since starting operations in 1972 and currently has nearly 6 million square feet in planning or under development. The Opus Group, based in Minneapolis, is a $2.2 billion premier, full-service real estate development company with 55 years experience. For more information, visit opuscorp.com.
The companies within The Capital Group Companies are among the most respected investment organizations in the world. The organization is the home of American Funds, one of the largest mutual fund families in the United States with more than $1 trillion in assets under management. Other companies in the organization independently manage assets for institutions and high-net-worth individuals. The Capital Group employs more than 9,000 associates working in 19 offices around the globe.
For more information about The Capital Group Companies, as well as its employment opportunities, visit capgroup.com.
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