KAR Auction Services Inc. plans to build a new headquarters two miles south of its current headquarters in Carmel, Ind., the auction giant said Tuesday.
The company said the $80 million project will include a new 250,000-square-foot office building on a 13-acre site. Nearly 1,600 of KAR's 17,400 employees are in Indiana, and the new location provides space for an additional 400 jobs.
"The new campus will give us the additional space necessary to increase our workforce as we expand our global footprint," CEO Jim Hallett said in a statement.
KAR, the parent company of auction giant ADESA and salvage-auction operation IAA, has made central Indiana home for nearly 30 years and has 10 auction and office sites in Carmel, Fort Wayne, Indianapolis, Plainfield and South Bend.
Over the past five years, the company has expanded to more than 300 locations in the U.S., Canada, Mexico, and the U.K. and added more than 5,000 jobs, including 700 in Indiana.
The company plans to break ground in early 2018 and move in during the second half of 2019.