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Hold an ICREX demo for your office
Interested in knowing what the Indiana Commercial Real Estate Exchange can do for you? With new features added in June, access to sales and lease comparables and new subscription options, now is the time to learn. Contact the ICBR office to schedule a demonstration at ICREX@myICBR.org or call 317.328.5259.
Construction blitz in full swing around Ball State
Associated Press via Indianapolis Business Journal
With less than two weeks until the start of classes at Ball State University, businesses in Muncie that will cater to students are racing to complete their building projects.
The university itself is joining the construction blitz, with demolition of a former print shop on McKinley Avenue in advance of construction of a new hotel and training center.
GOP state senator's wife seeks to fill in for him
Associated Press via WISH-TV
Sen. Jim Banks’, a member of ICBR, wife says she’ll seek to take his place in the legislature next year while he’s on military deployment to Afghanistan. Amanda Banks announced she would ask Republican precinct committee members to select her as the temporary replacement for her husband, Sen. Jim Banks of Columbia City.
State eyes downtown site for $17 million archives project
Indianapolis Business Journal
State officials are investigating creating a $17 million headquarters for the state archives on downtown’s American Legion Mall as part of Indiana’s bicentennial celebration.
In a “request for information,” the Indiana Department of Administration has asked real estate developers to submit plans for the project.
Retail sales on the rise
Inside INdiana Business
Cassidy Turley, a leading commercial real estate services provider in the U.S., announced recently that retail commercial real estate fundamentals improved in the second quarter based on consumer confidence rising to its highest level in six years in June, leading to a pick-up in sales for restaurants, clothing outlets and department stores. Increased consumer confidence also positively impacted rent growth in the multi-family market, which saw high demand in the first half of 2014.
First Internet Bancorp announces appointment of new Chief Financial Officer
Business Wire via The Herald
First Internet Bancorp, parent company of First Internet Bank of Indiana, recently announced that Kenneth Lovik has been named the Company’s new Senior Vice President and Chief Financial Officer, effective Aug. 18. He will succeed Kay Whitaker, SVP and Chief Financial Officer.
Raytheon seeks buyer for Fort Wayne buildings
Fort Waybe Business Weekly
Raytheon has put its three-building, 790,000-square-foot Production Road complex up for sale.
The defense contractor is the second in Fort Wayne this year to seek a buyer for its property with the intention of leasing back a portion of the space for local operations.
In February, Exelis put its complex at the intersection of Lima and Cook roads on the market.
Ball State research questions efficacy of tax incentives
Recent Ball State research questions how effective local tax incentives are for economic development, but a local redevelopment official says it all depends on who’s making the incentive decisions.
A policy brief published by Ball State University’s Center for Business and Economic Research reviewed the body of research surrounding tax incentives commonly used in Indiana, like business property tax abatements and tax increment financing districts.
2-hotel tower proposed across from fieldhouse
Indianapolis Business Journal
A Minneapolis developer wants to build two high-end hotels in the same 15-story building on a surface parking lot downtown across from Bankers Life Fieldhouse.
Plans call for a total of 286 rooms between the two brands, an Aloft and an Element, according to plans filed with the Indianapolis Historic Preservation Commission.
Zillow buys Trulia for $3.5 billion
Trulia shares jumped 12 percent on the news that it's selling to Zillow.
Zillow will continue to operate two separate websites, where consumers can search listings of homes for sale. Zillow and Trulia together attract more than 130 million visitors a month.
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063