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Text Version   RSS   Subscribe   Unsubscribe   Archive   Media Kit         November 26, 2014

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NAR issues call for action
ICBR
The National Association of REALTORS® is asking for your help to extend the Terrorism Risk Insurance Program created following the Sept. 11, terrorist attaches, and the Mortgage Forgiveness Tax Relief Act. Please take a few moments to act now on these two important issues facing the industry.

Terrorism Risk Insurance Program

Mortgage Forgiveness Tax Relief Act
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ICBR will be CLOSED for holiday
ICBR
ICBR offices closed for the holiday: The Indiana Commercial Board of REALTORS® will be closed Thursday, Nov. 27, and Friday, Nov. 28, in observance of the holiday. The office will reopen Dec. 1, for regular business hours.
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Pending sale could bring big retail project to Anson
Indianapolis Business Journal
An unidentified buyer has agreed to acquire about 50 acres of high-profile land in Whitestown’s sprawling Anson development, retail broker Jacqueline Haynes said, but details remain under wraps per the terms of a confidentiality agreement. “To our knowledge, it is a retail development,” said Haynes, a senior vice president at Cassidy Turley, which listed the property at Interstate 65 and Whitestown Parkway, west of Zionsville.
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Construction industry building toward a strong finish for 2014
By Michael J. Berens
After a disappointing third quarter, the construction industry regained momentum in October, with signs pointing to continued growth in the months ahead. Indicators were up across the board, including employment figures, with most areas of the industry reporting notable year-over-year increases. Early forecasts are that 2015 will look even better. If the economy continues to improve, some categories — such as commercial and residential — could see double-digit increases in the year ahead.
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Commercial real estate sector rising
Daily Real Estate News via National Association of REALTORS®
REALTORS® who work with commercial properties can expect overall conditions to show continued signs of improvement during the next few years — but commercial real estate practitioners need to keep a close eye on the Federal Reserve, which is poised to raise interest rates in 2015, NAR chief economist Lawrence Yun said recently at the REALTORS® Conference & Expo. Prices and rents for the commercial properties are on the rise and sales volume is increasing, driven by strong job creation in many states, mild inflation and low energy costs, Yun said.
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Red Cross downsizes headquarters ambitions, leaving extra lot
Indianapolis Business Journal
The new Red Cross headquarters slated to be built on North Meridian Street will be much smaller than originally proposed, leaving space for another development that also could be built on property acquired for the project. The not-for-profit unveiled plans in October 2013 for the $10 million, 42,000-square-foot building to be constructed at 1440 and 1510 N. Meridian St. as part of a larger city land-swap deal.
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Carmel office complex buyer secures funding
Inside Indiana Business
HFF announced recently that it has arranged $17.15 million in post-acquisition financing for Penn Mark I and II, a two-building office complex totaling 240,081 square feet in the northern Indianapolis suburb of Carmel, Indiana. HFF worked exclusively on behalf of the borrower, True North Management Group, to secure the loan through TCF Bank.
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State chamber targets business personal property tax
The Times of Northwest Indiana
After winning a corporate income tax cut earlier this year that will drop the rate by nearly half when fully implemented in 2021, the Indiana Chamber of Commerce has put a small-business tax exemption atop its 2015 legislative agenda. The business advocacy organization announced recently it wants Hoosier lawmakers to exempt approximately 150,000 small companies from the business personal property tax, an assessment based on the value of business and manufacturing equipment that provides $1 billion a year to schools and local governments.
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Simon Property discloses stake in mall owner Macerich
Bloomberg
Simon Property Group Inc., the biggest U.S. mall owner, said it has accumulated a 3.6 percent stake in rival Macerich Co. and may seek to buy more. Macerich jumped to a seven-year high on speculation it may be taken over. Simon bought 5.71 million shares of Macerich this year and may request that Macerich waive a provision that restricts ownership to 5 percent, the real estate investment trust said in a statement recently.
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Finish Line adds chain of running specialty stores
Indianapolis Business Journal
The Finish Line Inc. has acquired a chain of five stores in the Kansas City, Missouri, area through its subsidiary, the Running Specialty Group, the Indianapolis-based athletic apparel retailer announced recently. Terms of the deal for Kansas City-based Garry Gribble’s Running Sports were not disclosed.
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Colby Horton, Vice President of Publishing, 469.420.2601
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