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Text Version   RSS   Subscribe   Unsubscribe   Archive   Media Kit         July 24, 2014


 



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Indiana Real Estate Commission
In.gov
The Indiana Real Estate Commission recently released an update to Indiana laws and regulations concerning 876 IAC 8-2-4 Attendance at closings. The revised code now states “Sec. 4.

    (a) Except as provided for in subsections (b) through (d), the listing and selling broker shall attend all closings. Instead of attending, the listing and selling broker both may send an associated broker or designate another broker to act on the broker's behalf.

    (b) This section shall not apply to closings of commercial property. For purposes of this subsection, "commercial property" shall refer to any property other than one (1) to four (4) family residential. (c) This section shall not apply if the broker is representing an institutional client such as a financial institution.

    (d) This section shall not apply if the party represented by the broker or the party's authorized representative does not personally appear at the closing.” (Indiana Real Estate Commission, 876 IAC 8-2-4; filed May 22, 2014, 11:50 a.m.: 20140618-IR-876140061FRA, eff Jul 1, 2014)

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Student housing 'ripe with opportunity' in real estate
Daily Real Estate News via National Association of Realtors®
Student housing is getting more attention from the real estate industry as more developers take their projects upscale and bring them on campus. “This is an industry that is ripe with opportunity,” Bill Bayless, CEO of American Campus Communities, the largest student-housing REIT in the country, told CNBC. “If you look at the student housing sector, it was ignored by the mainstream real estate industry for more than 40 years.”
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Retail rents on the rise as vacancies dwindle
Daily Real Estate News via National Association of Realtors®
The U.S. retail real estate market is heating up, with shrinking vacancies allowing landlords to raise rents. At strip malls, vacancies fell to 10.3 percent in the second quarter and are nearly a percentage point lower than a post-recession high set in the third quarter of 2011, according to Reis Inc., a commercial data provider. At traditional malls, vacancies held at 7.9 percent in the second quarter, dropping from a high of 9.4 percent in the third quarter of 2011, according to Reis.
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Interactive Intelligence set to break ground on $12.5 million building
Indianapolis Business Journal
Duke Realty Corp. is set to break ground within the next few weeks on a $12.5 million building on the northwest side that Interactive Intelligence Group Inc. will occupy as part of a major expansion. The Indianapolis-based software developer announced its growth plans in May, in which the company said it will add 430 employees statewide by the end of 2016.
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Another Illinois business finds Indiana an attractive draw
Illinois News Network via Watchdog.org
Businesses in Illinois are having a hard time resisting the strong draw of Indiana’s business climate. Citing kinder tax and regulatory codes, one Illinois businesses is packing up shop for Illinois’ eastern neighbor state. Bryce Welty is the president of Superior Truss and Panels — a company that bills itself as “America’s largest fabricator and erector of light gauge steel trusses and wall panels” — and is moving his company to Indiana because he says the business climate is much more friendly there.
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Indiana county plans aquaculture park
The Associated Press via AgriNews Indiana
A central Indiana county is working on plans for a 60-acre aquaculture park in hopes of attracting more business connected with fish production. The site for the proposed park would be near the Delaware County town of Albany and next to Bell Aquaculture, which has the capacity to produce more than 2 million pounds of fish a year in its indoor tanks, The Star Press reported.
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LaSalle buys 1.2 million square foot office park in Indianapolis
Commercial Property Executive
A LaSalle Investment Management fund has made its first acquisition in Indianapolis, purchasing the 21-building, 1.2 million-square-foot Precedent Office Park in the Keystone Crossing submarket. It was the largest office park transaction in Indianapolis since Precedent was sold in 2005.
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Indiana has nailed 1,000-job Lowe's call center, newspaper reports
Charlotte Business Journal
Lowe’s Cos. Inc. announced plans for a 1,000-employee call center in Indianapolis on July 22, according to The Times of Munster, Indiana. Indiana Gov. Mike Pence and Indianapolis Mayor Greg Ballard announced plans for the call center, which will be located in the INTECH Park, on the northwest side of Indianapolis, the newspaper reported online.
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Change, change, change for 3 Fort Wayne shopping centers
Fort Wayne Business Weekly
Change is on the way to a pair of smaller Fort Wayne shopping centers — and a smaller portion of a prominent, larger center — all on Fort Wayne’s north side. A section of White Swan Plaza on Lima Road will be demolished to make way for Indiana Michigan Power to increase its power supply to the north side of Fort Wayne, expanding its easement and displacing several tenants.
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