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With 2014 coming to a close, ICBR would like to wish its members, partners and other industry professionals a very safe and happy holiday season.

As we reflect on the past year, we would like to provide ICBR Commercial Focus subscribers with a look at the most-read news stories.

Your regular news publication will resume on Thursday, Jan. 8, 2015.


Annual property tax appeals could be thing of past
Current in Carmel
From March 20: A bill authored by State Sen. Scott Schneider, R-Indianapolis, who also represents Carmel, to help Hoosier property taxpayers frustrated by the appeals process cleared its final passage in the Indiana General Assembly. Senate Bill 266 now moves to Gov. Mike Pence’s desk where it could be signed into law.
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Real estate agents pushing legal limits with drone use
The Des Moines Register
From July 10: Real estate agents are increasingly taking their work to the skies, using remote-controlled aircraft to film bird's-eye-view video tours of homes, land and commercial properties. It's a great way to interest potential buyers, agents say. The only problem: they're flying in the face of federal regulators, who say drones are illegal for commercial purposes.
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Poag buys huge Indiana mall out of bankruptcy
Memphis Business Journal
From Feb. 6: Poag Shopping Centers LLC has acquired out of bankruptcy a 600,000-square-foot retail center in Plainfield, Ind., according to a news report. Memphis-based Poag bought the Metropolis Lifestyle Center – which is anchored by Carmike Cinemas, JCPenny and Dick's Sporting Goods – from a court-appointed receiver, the Indianapolis Star has reported.
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Change, change, change for 3 Fort Wayne shopping centers
Fort Wayne Business Weekly
From July 24: 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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Pence signs Indiana business tax cuts into law
Indianapolis Star via The Journal & Courier
From April 3: Republican Gov. Mike Pence signed a package of business tax cuts into law that he hopes will draw more business into Indiana. The new law slashes the state’s corporate income tax and provides options for county leaders to reduce property taxes on business equipment. But it still will be awhile before the changes take full effect: the corporate tax cut will not be completed until 2023 and the equipment tax cut will be on hold until mid-2015.
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Village of West Clay developer suspending operations
Indianapolis Business Journal
From March 20: Brenwick Development Co. is suspending operations at the Village of West Clay mixed-use community in Carmel, claiming its lender won’t release the deeds on undeveloped land—halting about $7 million of sales in the company’s pipeline. “We haven’t been able to do business since the end of September,” Brenwick CEO George Sweet told Indianapolis Business Journal.
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Indiana's 4 top cities see big population shifts
The Courier-Journal
From May 29: Indiana's four largest cities are in the midst of big population shifts, with the state capital leading the way as development in downtown Indianapolis attracts new residents, according to a report from Indiana University demographers.
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Commercial real estate at pre-recession levels
Inside Indiana Business
From Aug. 21: 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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Ambrose snags vacancy-plagued Meridian Street property
Indianapolis Business Journal
From July 10: Ambrose Property Group Inc. is doubling down on the struggling downtown office market by purchasing its second property within six months. The local real estate firm closed June 27, on the purchase of a five-building office complex at 500 N. Meridian St. that’s been mostly vacant since Seattle-based insurance giant Safeco Corp. left in 2009 as part of its acquisition by Boston-based Liberty Mutual.
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Carmel office complex buyer secures funding
Inside Indiana Business
From Nov. 26: 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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