Midwest Real Estate News April/May 2015 : Page 4

4 | Midwest Real Estate News | April/May 2015 | www.rejournals.com FEATURES 1 Busy times in Omaha: This key Midwest city boasts low unemployment, a talented labor pool and a rejuvenated downtown. We take a closer look at the positive commercial real estate news coming out of Omaha. Village Green making an impact in Detroit: Developer Village Green is building the first new multifamily building in downtown Detroit in more than two decades. 1 8 Life after bankruptcy is good for Detroit: Detroit’s bankruptcy filing brought plenty of negative headlines. But the city’s downtown is now in the middle of a building boom. Turns out, that bankruptcy filing wasn’t all bad. Cummins commits to downtown Indianapolis: Engine maker Cummins is building a new office tower in downtown Indianapolis. It’s just one more step in the rejuvenation of the city’s eastern side. 12 13 Hendricks Commercial Properties makes big move in Indianapolis: It doesn’t rank as Hendricks Commercial Properties’ first Indiana purchase. But buying downtown Indianapolis’ Century Building? That qualifies as a major splash. 18 Great times for 200 Public Square and downtown Cleveland: Few buildings stand out in downtown Cleveland like 200 Public Square. But the building is more than just the third-tallest in the city’s urban core. Bill Stevens, senior associate with Colliers International, says that 200 Public Square serves as a symbol of the resurgence of downtown Cleveland. 19 Colliers International: Cleveland’s thriving downtown key to leasing The Arcade: Downtown Cleveland is booming today. And The Arcade retail center is in the exact heart of the city’s CBD. To Chris Seelig, first vice president and principal with the Cleveland office of Colliers International, that prime location is The Arcade’s top selling point. 20 Plenty of hot years remain for Midwest’s industrial market: Clicking on all cylinders. That’s how Cushman & Wakefield’s Jason West describes the industrial market across the Midwest. As West, senior director of industrial brokerage services in Cushman’s Chicago office, says, the major markets across the Midwest are all seeing significant absorption today. Vacancy rates have tumbled during the last several years. Demand for new industrial space is strong. The rise of retail medicine and what it means to CRE firms: Debora Field has seen plenty of changes in the relationship between hospitals and medical providers. Today, Field, vice president of sales and leasing for Kansas City-based Newmark Grubb Zimmer, says that the medical field is moving to a retail model, with a growing number of medical practices moving out into retail locations in the neighborhoods surrounding big hospitals. 22 23 Columbus the industrial hotspot of the country? You bet: When it comes to industrial real estate, Columbus is the nation’s hot spot. Don’t doubt us. That statement isn’t at all inaccurate. Just ask the industrial experts at JLL. 24 Real estate investors flocking to Madison, Minneapolis and other Midwest markets: Traci Dalsin, president of Madison, Wis.-based Sara Investment Real Estate, has good news: Investors are pumping more dollars into commercial real estate in the Madison market. And that’s just the beginning. Dalsin says several major markets across the Midwest are enjoying the same positive trend. Institutional investors like Chicago’s multi-family market: Chicago’s multi-family market has been hot for so long that it’s easy to take for granted just how strong this sector is. But Susan Tjarksen, principal and managing broker for Chicago’s Kiser Institutional Group --better known as KIG –isn’t doing this. 25 26 Twin Cities’hotel market stronger than ever: Bill Morrissey has never seen a stronger hotel market in the Minneapolis/ St. Paul market than the one he’s working in now. This is good timing. St. Paul, Minn.-based Morrissey Hospitality Companies is developing a four-story Hilton Home2 Suites hotel in the suburb of Eagan, just east of the new Twin Cities Premium Outlets that opened here last summer. 27 Return of the cubicle? Workplace introverts, it’s time to celebrate: The cubicle is back. INTERVIEWS/COLUMNS 28 29 30 32 Property Management and the power of predictable revenues: Steve Herron, Zeller Realty Group 10 things you need to know about Phase 1 Environmental Site Assessments: Andrew Brought, Spencer Fane Britt & Browne Market Position: Technology’s growing impact on ROI The secret to 100 years? For The Ruhlin Company it comes down to people and service: Not many construction companies last 50 years. An even smaller number get to celebrate their 100th birthdays. The Ruhlin Company in Sharon Center, Ohio --in the Cleveland MSA and just 17 miles or so from Akron --is a rarity, then. 33 34 Profile: James Garrett, Colliers International Profile: Troy Nash, Newmark Grubb Zimmer Brought to you by June 4-5, 2015 JW Marriott Indianapolis Attend the Indiana Commercial Real Estate Conference and receive all required Indiana continuing education credits with a new-extended schedule! The only commercial real estate conference in Indiana, you will hear from industry leaders on topics relevant to your business and client needs. Come network June 4, at the annual Golf Outing or Fun Shoot then start the afternoon off with four (4) hours of continuing education. The conference continues on Friday, June 5, with an additional eight (8) hours of continuing education. We are proud to offer Managing Broker specific continuing education as well. Details and registration are available online or call 317.328.5259. REGISTER ONLINE www.myICBR.org

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