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By Tim Monger on June 26, 2015
One of the greatest strengths of the Indy region are the number of successful commercial real estate firms and the brokers who are part of these firms. Commercial brokers are a critical partner in the economic development process. As a site consultant with an international real estate firm, I saw firsthand the role brokers play in corporate location decisions. Many expansion projects start with a call to a commercial broker to get an idea of what is available locally or somewhere else in the country. 
 
Because real estate is a key ingredient to any economic development deal, it is important to have access to available properties as well as the market trends. It starts with collecting up-to-date information on available sites and buildings. Our new website includes INSITE, a site and building database. If a prospective client or consultant finds a property that matches their needs in our database they will also find demographic information on a drive time or distance basis. In addition, INSITE allows the client or consultant to see what companies are in close proximity, along the corridor or in the county. We rely on commercial real estate firms and brokers to keep us up-to-date on available sites and buildings. 
 
As far as knowing the market trends, commercial real estate firms usually publish quarterly snapshots of the regional industrial, office and retail markets. These reports typically include information such as: vacancy, net absorption, square footage under construction and asking rents. In addition, submarket information is provided by our local firms. If imitation is the highest form of flattery, then our commercial real estate firms should feel good about our latest HCED publication, “Market Intel.”
 
Because Hamilton County, Indiana is always divided between at least two if not three submarkets we thought it was important to supplement the commercial firms information on the Indy Region. The HCED Market Intel provides office and industrial market trends in the county and our submarkets. Our submarkets include Carmel, Fishers, Noblesville, Westfield and northern Hamilton County. Our market intel includes an overview of the county, announced projects for the quarter and featured properties. Lest you think we have a dozen minions collecting real estate data to produce market intel our source is CoStar. 
 
We hope you find it helpful. Please forward any comments or suggestions to Bradley Coffing, Research Manager.

Tim Monger
President & CEO 
Categories: "Economic Development", "Hamilton County", Indiana, "Location Intelligence"