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Cassidy Turley part of major merger
Inside Indiana Business
DTZ, a global leader in commercial real estate services, recently announced that Cassidy Turley and DTZ are now operating as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers' Pension Plan. The consortium acquired DTZ in November 2014.
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Tech office layout blowback: Partitions weren't so bad after all
National Association of REALTORS®
In a refreshing push-back against all things currently trendy in office layout, ad agency creative Lindsey Kaufman takes to the pages of the Washington Post today to rail against the now-popular “open office” design. Inspired by the tech industry, the open office configuration takes away partitions and emphasizes shared space for a whole host of now-familiar reasons.
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Investment in Muncie the top business story
The Star Press
It turns out that 2014 was a good year to spend money in Muncie. Not just the money spent by customers at local businesses or by local businesses themselves to grow, but by outside investors who thought Muncie was ripe for an influx of their money.
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Developer announces plans for 'historic bookend'
Inside Indiana Business
The Speedway Redevelopment Commission secured an agreement with Speedway Rosner LLC to renovate Speedway's iconic Rosner building and develop 15,000-square-feet of new retail, restaurant and office space on Main Street. The new development will also include the demolition and development of the existing building between the Speedway Town Press and Rosner building on Main Street.
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The Legal Pulse 4th quarter
National Association of REALTORS®
Welcome to the Legal Pulse newsletter. The Legal Pulse brings legal liability trends to life, so you can understand the risks and focus on what’s important in your market.
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3 Indianapolis-area Wet Seal stores part of mass closings
The Associated Press via Indianapolis Business Journal
The Circle Centre and Hamilton Town Center locations of struggling teen clothing retailer Wet Seal are among several Indiana outposts of the chain closing as a part of a massive pruning of stores. The retailer said it decided to close 338 stores — about two thirds of its total — after reviewing its financial condition and failing to negotiate meaningful concessions from landlords.
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Polychron on passage of tax extensions
National Association of REALTORS®
National Association of Realtors® President Chris Polychron has issued the following statement on key legislation passed by Congress: “The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment."
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Indiana Chamber of Commerce focused on 7 priorities for upcoming legislative session
Current in Fishers
Area business leaders received a preview of potential hot topics during the upcoming 2015 Indiana Legislature session when Kevin Brinegar, president and CEO of the Indiana Chamber of Commerce, spoke at Oak Hill Mansion in Carmel. Chamber of commerce members from throughout Hamilton County attended the Dec. 12, breakfast, as did Donna Schaibley, recently named to replace Steve Braun as state representative from District 24 that covers parts of Carmel, Westfield, Zionsville and Sheridan.
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Mastering the intermediaries: Strategies for dealing with listing services
National Association of REALTORS®
Dec. 26, saw a joint SEC filing from the parties indicating that the Zillow-Trulia merger was being delayed yet again. Feb. 15, is the latest date given for the final deal, the third such date given in the merger’s progress. The reason seems to be the parties are waiting for the Federal Trade Commission’s blessing with regard to antitrust.
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Industry shielded from rising rates
Real Estate Weekly
While benchmark interest rates are expected to rise in 2015, a new survey shows that most real estate executives are not as worried about interest rate increases as they are confident in the Federal Reserve’s ability to manage any increases in a thoughtful manner. “Industry participants see another year of positive growth for commercial real estate debt markets as ample capital and credit should be available to meet borrower demand and pending loan maturities,” said CRE Finance Council President and CEO Stephen M. Renna.
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State denies property tax exemption to Portage Chamber
The Times of Northwest Indiana
The Greater Portage Chamber of Commerce failed to convince the state to overrule a local board and grant the group tax-exempt status for its downtown office building. The Indiana Board of Tax Review said the chamber did not meet its obligation of showing that more than half of the building at 2642 Eleanor St. and/or its operations are dedicated to charitable purposes.
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Real estate seen winning as home builders lose in US surge
Bloomberg via The Boston Globe
Investors who put money in a fund devoted to real estate investment trusts have racked up gains of 65 percent, while investors in home builder stocks haven’t recovered from the housing crash, even as the U.S. economy rebounds. The gap will probably endure for years as job growth spurs demand for office, retail and apartment properties faster than Americans can buy new houses.
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Trailblazing hotelier eyes Indianapolis for new lodging concept
Indianapolis Business Journal
Jack DeBoer, a Kansas-based businessman known as the creator of the extended-stay hotel, is bringing his latest lodging concept to Indianapolis. DeBoer, who transformed the hotel industry in the 1980s and 1990s when he launched Residence Inn, Summerfield Suites, Candlewood Suites and Value Place, in September launched WaterWalk — a hotel/apartment hybrid — in Wichita and is searching for sites in Indianapolis as well as Atlanta, Houston, Louisville, St. Louis and Charlotte, North Carolina, to expand the chain.
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Commercial Focus
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