Cushman & Wakefield Vice President Jason Tolliver says while last year was a big one for Indiana’s commercial real estate market, it’s off to an even hotter start in 2017. Following the company’s recent State of Real Estate presentation, Tolliver said "all segments are firing on all cylinders" with one exception. As shoppers increasingly turn to ecommerce, the traditional bricks-and-mortar retail market continues to stall. In an interview with Inside INdiana Business Television, Tolliver said the market is focusing a lot of attention on the potential impact of Trump administration policies. He says growth in the short and mid-term since the election is already ticking up and could continue depending on the administration’s long-term trade direction.
After several shaky years post-recession, Tolliver says the market for office space is going strong statewide. "Not just in central Indiana, but you see rebounds in Evansville, Fort Wayne and around the state. Really, I think the key trend there is tower transformation. That’s capital being invested back into the properties to attract the tenants and continue that virtuous cycle," Tolliver said. "Market Tower in downtown Indianapolis would be a perfect example of that. I mean, a lot of the towers in downtown locations were built in the ’80s and ’90s and are just in need of newer amenities that can help attract tenants."
Tolliver expects seven years of record growth in industrial markets to continue, driven particularly by places like central Indiana, New Albany, Kokomo, South Bend and the northwest part of the state.