Brought to you by WBIW News and Network Indiana
Last updated on Friday, January 17, 2014
(INDIANAPOLIS) - The state of real estate forecast was presented in Indianapolis Thursday afternoon.
Cassidy Turley representatives covered various aspects of real estate, including industrial, retail, office, and capital markets.
Bill French spoke on the retail sector and says the holiday shopping season went well with sales up 3-percent, but the fallout now happens. He says companies like Marsh, JC Penney and bleak projected earnings announced by GameStop and Best Buy.
French says 2013 was a turning point in retail real estate due to occupancy rates increasing dramatically. French says there is a current 7-percent vacancy rate, which he calls "healthy".
French says over one-million square feet of grocery-related development is in the pipeline. He says they are tracking over 15 different transactions that make up that square footage.
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