Midwest Real Estate News April 2013 : Page 2

4 Midwest Real Estate News® April 2013 www.rejournals.com FEATURES Downtown Cleveland’s resurgence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Construction cranes have become a frequent site in downtown Cleveland. We take a look at what’s behind the city’s downtown resurgence and what it means to the entire Cleveland area. The changing world of healthcare real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Patients are changing the way in which they seek care. This has changed the way in which hospitals and medical providers expand and provide services. What does this mean for real estate developers? Big changes. A new day in Detroit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Despite its recent bad press, is Detroit in the middle of a recovery? The real estate pros we spoke with believe it is. Steady remains the recipe for success in Indianapolis . . . . . . . . . . . . . . . . . . 12 The brokers doing business in Indianapolis are thankful for their city’s conservative nature when it comes to real estate. The city didn’t see overbuilding during the boom times. That’s helped during the recession and the slow recovery. Northern Kentucky . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 The Northern Kentucky region has survived the slow economic times as well as any slice of the Midwest. What is this region’s secret? Poised for a boom in Louisville? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 The signs are positive in Louisville. Can this market support the return of spec build-ing? One key real estate pro here thinks it will. Revitalizing a key building in Cleveland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Corporate law firm Calfee, Halter & Griswold has played its own role in the rejuvena-tion of downtown Cleveland. Solid recovery continues in Omaha . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 The city’s not in a boom period, but Omaha brokers aren’t complaining: Their city re-mains in the midst of a solid recovery, and we take a look at the many reasons for it. INTERVIEWS/COLUMNS The key role of property management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Summit Realty Group’s Ken Petruska talks about how important property manage-ment has become to commercial real estate firms. More accessible financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Associated Bank’s Gregory Warsek sees more banks willing to fund more projects. Big business coming to Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Ella Shaw Neyland with Steadfast Income REIT is thrilled that her company is making inroads in the Midwest. The changing world of seniors housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Joshua Jandris with Marcus & Millichap Real Estate Services is seeing big changes in the areas of seniors housing and long-term healthcare. Good signs in Northeast Ohio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Ross Halloran with Bellwether Enterprise Real Estate Capital looks at the changing economic landscape of Northeast Ohio. Multi-family on the rise in Omaha . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 John Heine of Investors Realty doesn’t expect the multi-family business to slow any time soon in Omaha. Wichita, Topeka benefiting from strong multi-family market . . . . . . . . . . . . . 32 Officials with the Martens Companies take a close look at the multi-family markets in these two key Kansas cities. The crisis is over. Now what? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 The CEO of Colliers International takes an honest look at the state of commercial real estate in 2013. Solving the underwater owner problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Barry Katz, an attorney with Arnstein & Lehr, tackles the vexing problem of underwater owners. DEPARTMENTS Editor’s Letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Briefs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Directory Listings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45

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