Browse Tag: indiana

Indiana Commercial Board of REALTORS® Awards 2014 REALTOR® of the Year

Indiana Commercial Real Estate Conference

INDIANAPOLIS – During the Indiana Commercial Board of REALTORS® 20th anniversary celebration at the Indiana Commercial Real Estate Conference, June 20, Brad King was announced as the association’s 2014 REALTOR® of the
year.

Held at the NCAA Conference Center, nearly 250 commercial real estate professionals attended the conference
which provides brokers the opportunity to complete all state continuing education requirements in one day.
Following conference, many gathered to find out and honor this year’s outstanding professional in commercial real
estate.

King, a broker with RE/MAX Ability Plus Commercial Division since 2011, was presented the REALTOR® of the Year
award by ICBR in recognition of his professional success, commitment to furthering the commercial real estate
profession and dedication to community involvement.

Brad King

“Brad is a deserving recipient of the 2014 REALTOR® of the Year Award, based on his continued success and
dedication to the industry,” said Steven Martin, 2014 ICBR President. “His involvement and volunteerism over the
years with ICBR and many other professional and community organizations demonstrates his leadership ability and
passion for commercial real estate. I am honored to be able to present him with this award.”

With more than 20 years of experience in real estate marketing, project management, planning and zoning,
economic development and regulatory assistance, King provides clients expertise in tenant representation, owner
representation, incentive procurement and zoning compliance assistance.

As a staff member of former Indianapolis Mayor Stephen Goldsmith starting in 1994, King served as the recording secretary for the Metropolitan Development Commission, then as township administrator followed by five years at the Indianapolis Economic Development Corporation and Indy Partnership. While involved in local economic development, King played a role in implementing the first regional approach to economic development, fostering some of the highest job creation and retention in the City’s recent history.

About The ICBR

The Indiana Commercial Real Estate Conference is recognized as the premier event for real estate professionals to
earn commercial continuing education credits and to gather with like-minded peers. This year’s event is sponsored
by Bradley Company, Hays & Sons Complete Restoration, Sperry Van Ness Commercial Real Estate Advisors,
Brickman Group, Colliers International, Zeller Realty Group, August Mack Environmental, Browning Chapman,
Citimark, Duke Realty, First Financial Bank, Holladay Properties and Quality Building Maintenance. For complete
details, visit www.myICBR.org.

ICBR is a commercial overlay board for commercial real estate professionals. Its members are dedicated to serving
the needs of commercial clients in aspects of brokerage, leasing, appraising, property management, and
development. ICBR has a statewide membership base of more than 600 professionals. For more information, visit
the ICBR website at www.myICBR.org.

Indianapolis: A Portrait Of Recovery

View of downtown Indianapolis, , , taken from ...

The commercial property market in central Indiana has had an exemplary recovery in 2013 and 2014 appears to promise more of the same.

In Colliers’ 2013 year-end report on the Indiana region, the low-tax, low-services state is highlighted with many big industrial property deals in and around Indianapolis.  These include:

  • An 809,000 s.q.f renewal for Hachette Books in Lebanon, IN
  • Chrysler’s single-tenant purchase of 781,000 sq. ft. in Tipton
  • the 446,000 sq. ft purchase of the Hillsdale Technical Center in Indianapolis

Read the full Colliers report here.

Race To The Bottom (Of  Tax Rates)

Indiana has long subscribed to the idea that economic activity needs to be shepherded by state policy favoring production. The state has a reputation for being aggressive in keeping its low-tax appeal to business, but it’s possible that limits are being encountered in that campaign. One example of the priorities on display: Indiana is one of ten US states that does not have state-funded preschool while at the same time its state legislature is considering foregoing a further billion in tax revenue for schools and local governments by eliminating a property tax on business equipment.

The picture for 2014 politically is less clear than the state’s track record has been: the tax cut proposal from Governor Mike Pence (R), addresses the burgeoning industrial sector, but is getting little traction in the state house Republicans  and concern from local mayors.

Cassidy Turley Report: Hot Spec Construction Continues

CRE national firm Cassidy Turley sees strong fundamentals in the Indianapolis area, issuing a raft of positives at a recent event. 

The Cassidy Turley report — and State of Real Estate event — had plenty of positives to say about the industrial market in central Indiana. Cassidy Turley reported that in the fourth quarter of 2013, the vacancy rate in the Indianapolis industrial market stood at a low 4.9 percent. The market absorbed more than 1.9 million square feet, according to the report. The best news from Cassidy Turley regarding this market? Spec construction was strong in the industrial sector in 2013. It should be just as strong in 2014 as developers race to provide space for new tenants hoping to move into the Indianapolis market.

In terms of property markets, the Hoosier State’s recovery in 2013 looks terrific in the rearview mirror. Can the state maintain a rosy horizon? Only time will tell.