WEBVTT

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VESTED IN COMMERCIAL REAL

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ESTATE DEALS IN INDIANA IN 2019,
WITH OVER 14,000 PROPERTIES
CHANGING HANDS.
INDIANA'S COMMERCIAL REAL ESTATE

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MARKET REMAINS ON THE LONGEST,
UNINTERRUPTED EXPANSION ON
RECORD.
WILL IT CONTINUE?

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CUSHMAN & WAKEFIELD'S MANAGING
DIRECTOR, INVESTOR SERVICES
JASON TOLLIVER IS HERE WITH A
LOOK AT STATEWIDE TRENDS IN

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COMMERCIAL REAL ESTATE AND HE
EXPLAINS THE IMPACT THE
CORONAVIRUS CAN HAVE ON INDIANA
COMMERCIAL REAL ESTATE.

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ALWAYS GREAT TO HAVE YOU ON THE
SHOW. TALK ABOUT THAT LARGEST
UNINTERRUPTED STRETCH. BEEN
AMAZING.

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>> A DECADE. CAN YOU BELIEVE IT?
MULTI-FAMILY, RETAIL, YOU NAME
IT, CONTINUES TO GROW. I THINK
THAT'S GOING TO CONTINUE. MID

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YEAR WE'LL HAVE TEN FULL YEARS
OF GROWTH. NO SIGNS THAT WE'VE
SEEN, THE NUMBERS YOU SHARED,
HAVE BEEN SLOWING AT ALL

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>> LET'S TALK ABOUT SOME OF THE
SECTORS. THE OFFICE MARKET, BOTH
HERE IN INDIANAPOLIS, BUT AROUND
THE STATE HAVE BEEN PRETTY

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STRONG.
>> YEAH, IT HAS BEEN. WHAT'S
REALLY INTERESTING, NOW YOU SEE
SOME OF THE STRONGEST DEMAND NOT

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JUST IN INDIANAPOLIS, EVANSVILLE
AND FORT WAYNE AND OTHER
MARKETS. KIND OF SMALLER
SECONDARY MARKETS HAVE REALLY

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STRONG GROWTH STORIES. I THINK
THE OUTLOOK FOR THEM MAY BE EVEN
STRONGER THAN CENTRAL INDIANA.
WHEN YOU TURN TO CENTRAL

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INDIANA, ALL THE DIFFERENT
LEASING PROFILES ARE REALLY
STRONG AS WELL. I THINK THERE'S
NO INDICATION THAT'S GOING TO

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SLOW, REALLY BULLISH ON THE
OUTLOOK.
>> SOME OF THE INDUSTRIES
DRIVING OFFICE.

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>> CENTRAL INDIANA, I MEAN, TECH
REMAINS A KEY DRIVER, WE'RE
SEEING A LOT OF HEALTHCARE
RELATED LEASING, PROFESSIONAL

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AND BUSINESS SERVICE, THE
BACKBONE OF THAT DRIVE
SIGNIFICANT DEMAND.
>> MOVING ON TO A SECTOR THAT

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CONTINUES TO BE RED HOT.
INDUSTRIAL.
>> THE WORST BET TO MAKE IS BET
AGAINST INDIANA INDUSTRIAL,

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CONTINUES TO OUTPERFORM, REMAINS
AMONG THE INDUSTRY LEADERS
NATIONALLY. HISTORIC YEAR LAST
YEAR IN TERMS OF NEW LEASING

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DEMAND, CONTINUED EXPANSIONS,
ATTRACTING NEW FOLKS TO THE
STATE. HOOSIER TENANTS, EXPAND,
I THINK THAT'S A KEY STORY LINE

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IN THE YEAR AHEAD AND A STORY OF
SUPPLY AND CONSTRUCTION. SEEING
PRETTY SIGNIFICANT UPTICK IN
THAT, AND SO THAT'S SOMETHING TO

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KEEP YOUR EYE ON.
>> NEW LEASING RECORDS.
>> THE ONLY WAY YOU GET A NEW
LEASING RECORD SET IS TO HAVE

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BROADBASED DEMAND.
>> ANOTHER SEGMENT, MULTI-FAMILY
IS ONE THAT'S GETTING A LOT OF
ATTENTION. AGAIN, NOT JUST HERE

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IN CENTRAL INDIANA, BUT AROUND
THE STATE.
>> ABSOLUTELY. MULTI-FAMILY,
EVEN NATIONALLY REMAINS VERY

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FAVORED ASSET CLASS OF
PERFORMANCE AND THE FUNDAMENTALS
ARE SIGNIFICANTLY STRONG. I
THINK THE KEY STORYLINE, YOU'VE

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GOT REALLY STRONG DEMAND THAT
OUR TEAM REPORTS ALL TYPES OF
SPACE, NEWER SPACE, SIGNIFICANT
DEMAND AS CLASS -- SPACE, A

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TREMENDOUS STORY THERE.
>> LOOK AHEAD TO 2020, ANY DARK
CLOUDS?
CORONAVIRUS?

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>> THAT'S THE ONE THING IN THE
HEADLINE NOW, DESERVEDLY SO. THE
KEY TAKE-AWAY IS TO RECOGNIZE
THAT THE PROPERTY MARKETS ARE

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NOT THE EQUITY MARKET, MEANING
THE STOCK MARKETS ARE A
TREMENDOUS AMOUNT OF VOLATILITY.
PROPERTY IS DIFFERENT. IT IS

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MUCH SLOWER. IF THE VOLATILITY
WE'RE SEEING, OR THE OUTBREAK
WERE TO GET MUCH WORSE AND
IMPACT THE ECONOMY IN A NEGATIVE

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WAY THERE COULD BE A SPILLOVER
EFFECT. BUT WAY TOO EARLY TO
KIND OF FORECAST THAT FOR THE
MARKET. I THINK IT'S GOING TO BE

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A REALLY POSITIVE OUTLOOK IN
2020.
>> GOOD NEWS, GREAT PERSPECTIVE,