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Speedway investor acquires the Pyramids, plans for redevelopment

Speedway Investor acquires the Pyramids, plans for Redevelopment
Posted at 6:31 PM, Apr 08, 2022
and last updated 2022-04-08 19:12:15-04

INDIANAPOLIS — The empty parking spaces and the empty offices give a glimpse into the future of the pyramids.

President at Caris Financial Holdings and Senior Managing Director at American Senior Benefits Cary Hughes' company has worked inside the pyramids for the last five years.

“We have gone through COVID-19 and businesses coming and going," Hughes said. "A cafeteria was there for years, then it disappeared, then it disappeared again,” Hughes said.

The Pyramids have been an Indianapolis staple since the 1970s and now they are getting a makeover.

The project is spearheaded by a Hoosier-born and raised Brent Benge and his company KennMar. Benge is the President and CEO of KennMar.

“We want to make sure that we maintain the architectural design of the pyramids,” Benge said.

While maintaining the architectural design, Benge sees a lot of potential face lifts that would serve the buildings well.

“What we do plan to do is keep the facade and add some better entrances and really bring in the common amenities of the 21st century,” Benge said.

Among the improvements include a gym and new lobby areas.

“We don’t have a lot of services for our employees,” Hughes said. "A cafeteria is a big deal, some kind of restaurant would be great."

Hughes also said he loves the idea of the gym being added.

The pandemic impacted a lot of the businesses inside of the Pyramids, according to Hughes.

“The companies couldn’t sustain so one by one they disappeared,” Hughes said.

That is where Benge and the redevelopment come in. He plans to start the work in late May.

“From the timeline standpoint we hope to have the bulk of this done by the end of this year,” Benge said.