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Industry vet sees sectors on upswing, auctions booming

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All sectors of commercial real estate are seeing improvement, but not all are bouncing off the bottom with the same level of strength, said Cassidy Turley Managing Partner Jeff Henry.

Henry stopped to chat following the IBJ’s Commercial Real Estate & Construction Power Breakfast on Oct. 8 at the Westin Indianapolis (see video below). His headline take: The commercial real estate market has seen the worst but isn’t far off the bottom yet.



Industrial is leading the charge, with higher occupancy rates locally than in other markets. Retail is lagging, thanks to persistently high unemployment and mediocre consumer confidence. Medical remains a bright spot.

Henry also discussed the booming auction market. As IBJ reported in Monday's print edition, banks have been slow to put distressed properties up for sale but are now starting to move more quickly.

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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