Inaugural Real Estate Trends in Indiana Report to be released at "Emerging Trends in Real Estate" event on Nov. 18

The ups and downs and areas of opportunity within the real estate industry have great impact on economic development here in the 10-county Indianapolis Region and across the nation. As critical as superb transportation, distribution and logistics infrastructure as well as world-class workforces are, real estate issues can make or break a business relocation or expansion project.

"It is the combination of our assets that gives the Indianapolis Region its competitive advantage over the coasts and neighboring states,” said Ron Gifford, president and CEO of the Indy Partnership. “Having better access to rail service and interstates wouldn’t do us much good if our real estate rental rates were three or four times higher like they are in California and Florida, for example.

“That’s why we are supporting the Urban Land Institute Indiana as a sponsor of its upcoming ‘Emerging Trends in Real Estate’ event and why we are particularly eager to see its Real Estate Trends in Indiana Report become a successful annual resource.”

According to Area Development magazine’s 2007 Annual Corporate Survey, real estate issues were said to be “important” and “very important” by between 79 percent and 89 percent of all respondents when ranking their expansion and relocation priorities. These issues range from availability of buildings and land, construction costs, “fast-track” permitting, energy considerations and residential housing availability and costs. In fact, real estate issues account for three of the top five site selection factors tracked by the survey.

According to Matt Waldo, director of research for the Indy Partnership, the Indianapolis metropolitan area ranks as the “second most affordable” among 46 major metro areas for industrial warehouse rental rates (based on 2008 Mid-Year Market Report data from Cushman&Wakefield) and is highly competitive in Class A and Class B office space.

“The Indy Partnership was directly involved in the decision making process for seven of the 10 largest real estate lease transactions in Indianapolis from the middle of 2007 through the middle of 2008, and I can tell you with the highest degree of certainty that understanding the real estate trends in the Indianapolis Region as they relate to the nation was critical to making the argument to create jobs and invest here. The Urban Land Institute Indiana’s report will enhance our ability to continue this track record of success for our region,” Waldo said.

Learn more about the "Emerging Trends in Real Estate" event .