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Cassidy Turley (fka Colliers Turley Martin Tucker) – The State of Real Estate ® Indianapolis 2010

Posted on 09. Feb, 2010 by admin in Conferences & Seminars, Hamernik Headlines, Industry Insights

Several members of Hamernik LLC (Kevin Hamernik, Stefania Holland, and Brian Holtz) attended the annual event hosted by CTMT on Wednesday, January 20, 2010.  The first order of business was the explanation how CTMT will be rebranded as Cassidy Turley as of March 1, 2010.  The event was very popular, with attendees filling the majority of the Murat Theatre in downtown Indianapolis.

Highlights from the presentation include:
• Overall, the commercial real estate outlook suggests 2010 will be very similar to 2009, which means a challenging year ahead.
• The volume of 2009 commercial real estate investments was roughly 75% below the 10-year average.
• Pricing of commercial investment properties are expected to stay flat in 2010 and 2011.
• Land owners are facing very difficult situations if they have outstanding debt on properties.  In some cases, land owners cannot give their land away.
• The 2009 industrial market showed positive absorption because of low rates of move-outs, but there was very little construction outside of the alternative energy and green manufacturing industries.
• There are no “big-box” retail locations (i.e. Wal-Mart, Target, etc.) currently being built anywhere in the state of Indiana.
• Tenants in Class B and Class C retail space are flocking toward more lucrative Class A retail space based on attractive offerings.  Class B and Class C landlords should be wary.
• The 2009 office market had negative absorption, which had been positive for the majority of the past eleven years.
• The residential presentation seemed far more optimistic than the commercial and industrial portions of the presentation.

The Cassidy Turley assessment, particularly of the commercial real estate sector, generally confirms our experiences of the past year.  Compared to historical trends, we have noticed a significant increase in engagements involving real estate.  Based on the outlook for 2010 shared in The State of Real Estate ® Indianapolis 2010, we will likely continue to experience a strong demand for an objective and independent review of the borrower’s distressed situation and consultation about options and involvement in assisting borrowers and their banks settle credit relationships.

Click here to read Cassidy Turley’s Indianapolis Annual Market Report.

Tags: Cassidy Turley, Colliers Turley Martin Tucker, commercial real estate investment, CTMT, Indianapolis, industrial market, office market, retail, State of Real Estate