The Custom Electronic Design and Installation Association has announced plans to build a new 40,000-square-foot headquarters outside Indianapolis.

The three-story building will be erected in Fishers, a suburb of the city. The organization is currently leasing office space in the northwest side of Indianapolis.

"Building a new headquarters in a desirable, high-growth area gives the CEDIA membership an asset with appreciating value, as well as opportunity for monthly revenue from tenants," said Dennis Erskine, chairman of CEDIA's board of directors.

The new structure is projected to cost $13.7 million to build. The association noted it has spent $4 million in rent and upkeep of its existing space, and the lease is up in October.

CEDIA plans to occupy 30,000 square feet of space and lease out the remainder. The new building will contain a training facility, an experience center and an auditorium. (CEDIA provides courses for home technology professionals.) http://bit.ly/2rwc5i5

MORE CEO DATELINE

• Medical groups hit road to criticize GOP health care bill
• Gaming association unveils new push to legalize sports betting
• Organic Trade Association forming anti-fraud task force
• Business, association leaders urge lawmakers to preserve energy research funding
• Beer Institute launches ‘Faces of Beer'