Despite The Cold, Commercial Real Estate Heats UpPosted: Updated:
Despite a very tough winter, Cassidy Turley Vice President Jason Tolliver says Indiana's commercial real estate market looks "incredibly robust." He says Indiana's job growth is among the best in the Midwest, which is leading to increased demand. Tolliver believes the momentum will continue, predicting 2014 will "easily" be the strongest year for demand since the recession. He discussed the sector's performance on Inside INdiana Business Television. Tolliver says tenant diversity is a key factor in the continuing commercial real estate rebound. In addition to Indiana's traditionally-strong manufacturing sector, he says the market is seeing increases in demand from e-commerce and logistics and distribution companies.
He says Indiana's industrial market is one of the strongest in the country, and adds areas including northeast and southwest Indiana are catching up with the central part of the state. Tolliver says he was also "pleasantly surprised" by growth in the retail and office markets.
Tolliver says the market's future looks bright, in part because of several recent major jobs announcements. That includes GE Aviation's plans to invest $100 million into a new jet engine facility that could bring 200 jobs to Tippecanoe County by 2020. He says several states were vying for the plant, which shows Indiana can "compete at the highest level."
Sources: Inside INdiana Business, Cassidy Turley