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Text Version   RSS   Subscribe   Unsubscribe   Archive   Media Kit         August 21, 2014

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Highlights of new IREC rules
Indiana Association of REALTORS®
Earnest money can now be held by any individual designated in the purchase agreement. This means a title company may now hold the earnest money if the parties so desire. However, a reminder that if there is a dispute over these funds, the 60 day release letter is available only to brokers. Title companies have no right to utilize this release process.
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Commercial real estate at pre-recession levels
Inside Indiana Business
The report suggests much of the demand is coming from auto sales, housing construction and e-commerce companies. Cassidy Turley says the Indiana office market rebounded sharply in the second quarter of 2014. In fact, it was the strongest quarter-to-quarter rebound on record.
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NAR's commercial members invited to join the NAR REach® Insight Panel
National Association of Realtors®
Get early access to new commercial technology tools from the REach® companies when you become a part of the Insight Panel. As a commercial real estate professional, your insights are important to the REach® companies focused on the commercial industry. Try out product tools and provide feedback on your experience – you’ll receive exclusive discounts as a reward for your valuable time. The commitment is small but the experience to shape customized products is rewarding. Click here to learn more and apply to be part of the REach® Insight Panel.
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Work set to start on Market Square tower in October
Indianapolis Business Journal
It’s looking like construction on Flaherty & Collins Properties’ massive Market Square project won’t start until at least October. The local developer received a big boost in March when the Indianapolis City-County Council voted 18-9 to provide up to $23 million in city financing for the $81 million, 28-story apartment tower, to be built on part of the former Market Square Arena site.
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Terrorism Risk Insurance Act and commercial real estate — why it matters
Talking Point via ICBR
Due to expire at the end of 2014, the Terrorism Risk Insurance Act (TRIA) is critical to securing financing in commercial real estate; without it property values may drop and construction and development may stall. Get up to speed on this important issue by reading the talking points from NAR’s Government Affairs team in this article.
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Regenstrief plans new $13 million headquarters
Indianapolis Business Journal
The Regenstrief Institute plans to build a $13 million, 80,000-square-foot headquarters at 10th and Wilson streets in Indianapolis, the Indiana School of Medicine announced recently. The facility will be built on the Indiana University School of Medicine campus on land leased from Indiana University.
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Industrial market still booming in Indianapolis
REJournals.com
Bob Smietana doesn’t consider the 220,000-square-foot spec building that HSA Commercial Real Estate recently built in the Indianapolis suburb of Plainfield, Indiana, to be a risk: the industrial market in Indianapolis is tight. And his company isn’t alone in addressing this demand with spec industrial construction.
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Mayor Greg Ballard proposes $1 billion budget
The Indianapolis Star
Mayor Greg Ballard proposed a $1 billion city budget, with increases for police and fire but decreases in other departments, including public works. The budget, proposed recently, is only a smidge higher than last year's, but calls for $18 million in cuts to the Department of Public Works, $639,625 less for the Marion County prosecutor's office and a $407,911 reduction for the mayor's office.
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Sun King plans $8.8 million brewery, tasting room in Fishers
Indianapolis Business Journal
Homegrown craft-beer maker Sun King Brewing Co. plans to build a second production facility and tasting room in Fishers, adding capacity as it widens its reach. Sun King will keep operating its College Avenue brewery in downtown Indianapolis, but co-owner Omar Robinson said the new $8.8 million Fishers facility will help Sun King keep up with demand.
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Commercial Focus
Colby Horton, Vice President of Publishing, 469.420.2601
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Lauren Swan, Content Editor, 202.684.7496  
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