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Real Estate Outlook In Indiana Slowly Improving

Real estate sector representatives say the vacancy rate for commercial real estate is declining, which could spur new developments.

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Photo: flickr (ellbrown)

Retail real estate property is remaining at a 7 percent vacancy rate in Indiana.

The state of real estate forecast was presented in Indianapolis on Thursday afternoon.

Representatives from the commercial real estate company Cassidy Turley covered various aspects of real estate, including industrial, retail, office, and capital markets.

“Sales are up 3 percent to 3.5 percent,” Cassidy Turley Senior Vice President Bill French said. “However, we are just starting to see the fallout of that,” he says, citing leak projected earnings announced by GameStop and Best Buy.

French says the holiday shopping season went well with sales up 3 percent.

“The occupancy rate has increased dramatically,” he said. “We’re seeing just about 7 percent is the vacancy rate, which is a healthy number.

French added that some submarkets are seeing vacancy rates as low as 4 percent, which, he predicts, could spawn new development activity in the near future.

Network Indiana

Network Indiana Indiana's Only Audio News Network. Network Indiana is dedicated to providing the state of Indiana important and useful information.

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