Indiana‘s commercial real estate sector is performing better than it has since the recession hit back in 2007, but a lack of clarity in Washington, D.C. is holding it back.
That‘s according to Jason Tolliver, research director for Cassidy Turley. Tolliver spoke at “The State of Real Estate” at Clowes Hall at Butler University Thursday.
Tolliver says businesses remain in a “wait and see” mode given the continued debate over the national debt, taxes, government spending and overall economic reform.
“Well, I think it‘s incredibly frustrating for any business trying to plan for the future and I think what will inevitably happen is businesses will put their plans on hold and you‘re gonna increasingly see businesses slip into wait and see mode,” Tolliver says.
Tolliver says the Indiana industrial market has grown for 14 straight quarters, the office market has grown for six straight quarters, the industrial vacancy rate is three percent and the office vacancy rate in Indiana is dropping.
Tolliver says Indiana‘s commercial real estate market was fairly balanced when the recession hit and that helped it recover quicker than other markets.