{"id":1004132869,"date":"2015-12-02T10:28:17","date_gmt":"2015-12-02T18:28:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004132869"},"modified":"2020-05-11T01:17:56","modified_gmt":"2020-05-11T09:17:56","slug":"resource-commercial-takes-top-spot-in-central-indy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/resource-commercial-takes-top-spot-in-central-indy\/","title":{"rendered":"Resource Commercial Takes Top Spot in Central Indy"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor<\/p>\n<div id=\"attachment_1004132870\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Sam-Smith-Resource-Commercial-Real-Estate.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004132870\" data-attachment-id=\"1004132870\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/resource-commercial-takes-top-spot-in-central-indy\/sam-smith-resource-commercial-real-estate\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Sam-Smith-Resource-Commercial-Real-Estate.jpg\" data-orig-size=\"456,285\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Sam Smith, Resource Commercial Real Estate\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Sam Smith, Resource Commercial Real Estate&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Sam-Smith-Resource-Commercial-Real-Estate.jpg?w=456\" class=\"size-medium wp-image-1004132870\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Sam-Smith-Resource-Commercial-Real-Estate.jpg\" alt=\"Sam Smith, Resource Commercial Real Estate\" width=\"300\" height=\"188\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Sam-Smith-Resource-Commercial-Real-Estate.jpg 456w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Sam-Smith-Resource-Commercial-Real-Estate.jpg?resize=300,188 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004132870\" class=\"wp-caption-text\">Sam Smith, Resource Commercial Real Estate<\/p><\/div>\n<p>Ten years after its formation, <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=http-3A__www.rcre.com_&amp;d=AwMFaQ&amp;c=011sAuWmEGuAVOWaydfJsXUtF8vM85JvnaIeBF_SZL4&amp;r=JQ3jbKxr0uLgzUDQLSGcCHZiPBSb5WHZDvKaILww0h4&amp;m=Xwt_ez0lKU3Emmej3nhye7l97Czy9qclvN0_bwVuiOA&amp;s=Xzo7xNwPRxtjyyoZRTje3ELSlCIsxzEyzQbw2OIQ2wU&amp;e=\" rel=\"nofollow\" target=\"_blank\">Resource Commercial Real Estate<\/a> has announced its rebirth. The Indianapolis-based company has politely severed its affiliation with commercial real estate services giant Colliers International to take on the title of the largest independent commercial real estate brokerage group in Central Indiana.<\/p>\n<p>Resource was technically an independent affiliate of Colliers, but it now functions as an independent and 100 percent locally owned company. There was good reason for the return to self-governance. \u201cIt really was changes in our local market where there was an opportunity to really keep our focus where we have had it for 10\u00bd years, which is on our clients on Main Street, not our investors on Wall Street,\u201d Sam Smith, Principal and Chairman, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>\u201cWe believe that there\u2019s real demand and value for local companies like ourselves,\u201d Smith continued. \u201cWe have the right technology, experienced and skilled people, resources, best-in-class methodologies and processes, so we can add significant value to our clients and create competitive advantage for them because we can tailor things and personalize services more effectively and efficiently as a local company.\u201d<\/p>\n<p>Resource\u2019s decision to go out on its own again bucks the current trend in the commercial real estate services game, which, as Smith noted, is characterized by \u201cthe mega-merger mania and the sea of consolidation and change.\u201d <a href=\"https:\/\/www.commercialsearch.com\/news\/august-issue-mas-rise-shine\/\" target=\"_blank\">Mania, indeed<\/a>. This year alone, Cushman &amp; Wakefield Inc. and DTZ merged in a $2 billion deal on the heels of DTZ\u2019s acquisition of Cassidy Turley in 2014. And more recently, Cushman &amp; Wakefield snapped up New York City-based investment sales firm Massey Knakal Realty Services.<\/p>\n<p>\u201cWe are swimming against the tide. It\u2019s a little scary in that regard but we\u2019re very confident that clients need personalized services, customized solutions,\u201d said Smith. \u201cWe think there is a place for big companies and they definitely can add value to clients, but we believe there\u2019s a real demand , an unmet market need for smaller boutique firms that have the same  highly skilled, highly experienced people that have worked at large companies and have the training, but also have the resources and have the tools to be able to provide that highest level of service&#8211;but again to customize it and  be able to tailor it to the client, and that\u2019s really what I think big companies struggle with.<\/p>\n<p>Part of the struggle for the giants in the services industry is the fact that they\u2019re not just beholden to the clients. \u201cWhen you\u2019re a publicly traded company&#8211;and it\u2019s not just Colliers, it\u2019s the industry in general&#8211;the scorecard is your stock value, your growing revenue, number of brokers, and market share. Our measure is client satisfaction so those are very different measures,\u201d Smith explained. \u201cWe believe there\u2019s a market for a very highly client-focused firm with talented people. So we definitely see value in being able to tailor our services and our company around our clients as opposed to answering to another master on Wall Street. It\u2019s not personal to Colliers; it\u2019s just that this is what\u2019s happening in the industry.\u201d<\/p>\n<p>Colliers isn\u2019t taking it personally. The multi-billion-dollar global company just announced that it has acquired Summit Realty Group, a market leader in Indianapolis, which will serve as the company\u2019s sole operation in the city. In a prepared statement, Martin Pupil, a regional president with Colliers, said \u201c[Summit\u2019s] unique expertise combined with their collaborative culture and passionate desire to serve clients makes them a perfect fit for Colliers and further strengthens our platform market leadership in the Midwest, an important and growing region.\u201d<\/p>\n<p>Certainly, things certainly are happening in the Midwest. In the 2015 Emerging Trends Report produced by PwC and the Urban Land Institute, new markets were added to better reflect investors\u2019 growing acceptance of a wider set of potential investment markets, and three of those markets were in the Midwest, bringing the number of ranked markets in the region up to 13. And Indianapolis is doing its part to push the region forward.<\/p>\n<p>\u201cRight now, industrial is on fire,\u201d Smith attested.  \u201cIndiana, and Indianapolis in particular, is a central focal point for logistics and distribution for a lot of companies so there\u2019s been significant absorption in that area. There\u2019s been a lot of construction; a lot of things were built but there\u2019s been a lot of absorption. It\u2019s always been: If you build it, they will come.\u201d The Indianapolis residential market has had the same heat, and leads the property sectors. Retail has been very active and the office market is definitely on the upswing. \u201cI\u2019ve been doing this for 35 years, and we literally have had flat rents on a nominal basis since I started but in the last 12 to 18 months, we\u2019ve seen real rent growth that we haven\u2019t seen in the 34 years prior.\u201d<\/p>\n<p>Resource will certainly have its hands full\u2014and not just in its hometown. While more than 90 percent of its business was generated locally and organically last year, the firm still partners with other leading firms on the regional, national and international fronts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indianapolis-based company has politely announced the severing of its affiliation with commercial real estate services giant Colliers International.<\/p>\n","protected":false},"author":969,"featured_media":1004132872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,1590,21748,13,21752,21742,21744],"tags":[],"class_list":["post-1004132869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-indianapolis","category-industrial","category-midwest","category-mixed-use","category-latest","category-people"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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