Bradley Co. closes on sale of retail center

Bradley Co. closes on sale of retail center

KALAMAZOO -- Bradley Co. LLC has closed on a multi-tenant retail center in Norton Shores, the South Bend, Ind.-based real estate brokerage and property management firm announced Monday.

Bradley Company Names Leader of Fort Wayne Office

Bill Drinkall

Bill Drinkall will lead the Fort Wayne, Indiana, office of Bradley Company as vice president of brokerage for the northeast Indiana market. Drinkall brings more than 15 years of commercial real estate experience to his new position.

Drinkall returns to Bradley from a local commercial real estate firm where he served as the managing broker, overseeing daily operations and brokerage transactions. He has experience in investment assets, property management and multifamily housing, having owned and managed a number of multifamily and industrial assets throughout his career.

Drinkall served as the director of the multi-housing group at Bradley from 2013 to 2015.

In his new role, Drinkall will focus on market specific sales leadership, building and developing a strong talent pipeline, strengthening Bradley’s overall presence in the region and market growth.

Originally Posted by REJournals

https://www.rejournals.com/bradley-company-names-leader-of-fort-wayne-office-20190711

What to know when hiring a commercial property management team

What to know when hiring a commercial property management team

Commercial real estate property owners who have a facilities team on staff may think there is no value in hiring an external property management team. However, there are many benefits to hiring an external team that can look at an asset from an independent point of view.

Here are a few key reasons why outsourcing can add value and reduce costs over the long term.

Medical office & Manufacturing Markets Booming in Northwest Indiana

Medical office & Manufacturing Markets Booming in Northwest Indiana

Northwest Indiana's $35 billion economy is benefiting from thriving medical office and manufacturing markets, a new study found. Bradley Company said in its annual "State of the Market" report that demand for medical office space in Northwest Indiana is booming, and there's an "insatiable demand for available industrial space.”

Bradley Company Reports on Commercial Real Estate Growth

Bradley Company Reports on Commercial Real Estate Growth

Bradley Company released its annual “State of the Market” report April 2, finding that downtown office space is hot, thanks to projects like Electric Works.

“Fort Wayne’s strong economy has a significant impact on the commercial real estate market,” Martin Huttenlocker, vice president of Bradley Company, said in a statement. “The continued growth of downtown, along with the scarcity of industrial properties and the emergence of unique retail and restaurants, has the potential to continue these positive trends in 2019.”

Commercial Alliance of Realtors Awards Two Bradley Company West Michigan Brokers.

Commercial Alliance of Realtors Awards Two Bradley Company West Michigan Brokers.

It was a special night and a proud moment as members of the Bradley Company team members from our Grand Rapids and Kalamazoo offices were honored for their achievements in commercial real estate. We’re excited to call them part of our team and appreciate the incredible work they do daily in their communities and for our clients.


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CARWM 2019 Life Time Achievement Award - was presented to Bill Bowling, SIOR


BIGGEST SALE AWARD (Kalamazoo):
JODI MILKS, Bradley Company, for the sale of a 90,000 sq. ft. office tower in Kalamazoo

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BIGGEST SALE AWARD (Grand Rapids): 
Kevin VanHaitsma, Bradley Company, for the sale of 3001 Orchard Vista in Grand Rapids


Cautious strength: Indianapolis CRE Market Set for a Strong 2019

Cautious strength: Indianapolis CRE Market Set for a Strong 2019

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Janice Paine isn’t shy about expressing her love for Indianapolis. Paine, senior vice president of brokerage for Central Indiana with Bradley Company, said that this key Midwest city offers plenty to companies: a centralized location, skilled labor force, a pro-business government and low expenses.

These are the reasons why businesses continue to set up shop in Indianapolis, Paine said. And they are the same reasons why Paine predicts another strong year for the commercial real estate market here in 2019.

“The market here has been very strong,” Paine said. “It is cautious, though, too. That is one of the things that makes Indianapolis and the Midwest such good places to invest. We tend not to overbuild like in other parts of the country. So, yes, our market has been strong for a long time. That’s because the growth here is based on solid fundamentals.”

And leading the way in the early stages of 2019? To no one’s surprise, it’s industrial.

As Paine says, Indianapolis has long been a top-performing industrial market. She says that will continue this year. Indianapolis simply has too many positives for industrial to slow, including its centralized location and strong highway access.

Combine that with a strong national economy and consumers who continue to want ever-faster delivery on the products they order online? It’s a perfect recipe for a local industrial market set to continue its boom times in 2019.

“We are a huge industrial market,” Paine said. “This market has been a top-performer every year. The industrial developments that are coming out on a spec basis, we will absorb them all. We have been doing that. Seeing all that spec development continually being absorbed is a great story.”

Paine says that the industrial sector is the only one that can continually absorb new product built on a speculative basis. As she says, you don’t see spec office or retail projects today.

But spec industrial projects? They aren’t slowing.

“We build it, and they seem to come,” Paine said.

Industrial isn’t the only sector that is thriving today in Indianapolis. The medical sector continues to grow as consumers seek changes in the way healthcare is delivered. Multifamily remains strong in Indianapolis, too, with a growing number of residents choosing to rent, many of them in an effort to gain an urban experience.

“Everyone keeps wondering when the multifamily market is going to peak,” Paine said. “But it seems that rents here keep rising. They keep building new properties. It keeps working.”

And the growth in multifamily? It is leading to growth in other sectors, too. Paine points to the self-storage business. As more people leave larger homes and move into smaller multifamily buildings, they have less space to store their stuff. They turn to self-storage.

On the retail side, fitness centers are thriving today. As Paine says, when you move from a home to an apartment, you might not have space for a massive treadmill. So instead of exercising at home, you join a gym. That’s part of the reason why so many empty big-box spaces in Indianapolis, and across the Midwest, are being filled by fitness centers.

On the office side? Indianapolis, like many Midwest markets, is seeing increased demand for flexible, co-working office spaces. This type of space is stronger than traditional office space today, Paine said.

Paine points to Yaeger Properties, which about two-and-a-half years ago built its own shared office suites in the Fort Benjamin Harrison market in Lawrence, Indiana, just outside Indianapolis. Those office suites are consistently full, Paine said. In fact, Yaeger Properties is looking for more space to build additional co-working spaces.

Again, though, when you think of the strongest markets in the Indianapolis area, it always comes back to industrial. Indianapolis is currently the second-largest FedEx hub in the world. It is projected to soon overcome Memphis to become the largest. At the same time, Amazon maintains a huge presence in the area.

The last-mile trend has certainly provided yet another boost to this sector. Companies need to open warehouses and distribution centers close to their customers so that they can ship products to them quickly. Indianapolis is situated perfectly for this trend. As Paine says, you can reach 65 percent of the U.S. population within a day’s drive from the city.

The fourth quarter Indianapolis industrial MarketView released by CBRE shows just how strong this sector has been.

CBRE reported that Indianapolis saw 2.1 million square feet of positive net industrial absorption during the fourth quarter. That makes 33 consecutive quarters of positive net absorption in the Indianapolis market.

The area also saw 3.3 million square feet of new industrial space. But even with this increase, the industrial vacancy rate in the Indianapolis market held firm at 4.5 percent, CBRE said.

And leasing activity? It remains strong, too. CBRE reported that the Indianapolis market posted 3.9 million square feet of leasing activity in the fourth quarter, with nearly 3.3 million square feet of new leases.

Paine predicts that 2019 will be another strong year for Indianapolis. This doesn’t mean, though, that the city’s commercial real estate market won’t face challenges.

Construction costs, both in terms of labor and materials, continue to rise, making it more expensive to develop new projects. This doesn’t impact only new construction. Paine says that it makes it more expensive, too, to fund improvements to existing buildings, improvements that owners often need if they want to continue to attract new tenants to their spaces.

Other potential challenges include interest rate hikes, uncertain fiscal policies and possible legislative changes.

“No market likes risk, and that includes commercial real estate,” Paine said. “Some of those unknowns that are out there will affect people’s commercial real estate decisions in 2019.”

But in general? Paine expects more of the same in 2019, meaning a strong commercial real estate market with plenty of sales, leases and new construction.

“Overall, we are in a good economy and people feel optimistic about the future,” Paine said. “I think 2019 will be another good year for us.”

Bradley Company's Brad King Joins ICBR Executive Committee

Bradley Company's Brad King Joins ICBR Executive Committee

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The Indiana Commercial Board of REALTORS® (ICBR) recently announced its 2019 executive officers. These professionals have been elected by the membership to represent the industry and serve on their behalf.

Jim Baker, Baker Commercial Real Estate, has been elected as president of the board. Baker boasts more than 40 years of experience as a REALTOR® and has served several years as the former district seven representative and within the executive committee of the ICBR board. He is actively involved in the Kentucky Commercial Real Estate Alliance (KCREA) and has earned his designation from the Society of Industrial and Office REALTORS® (SIOR) and is a Certified Commercial Investment Member (CCIM).

Stephen Daum, Colliers International Indianapolis, has been elected to serve as vice president in 2019. Daum brings more than 10 years of industry experience to his board seat, with an emphasis on working with individuals, corporations, trusts and estates on disposition solutions and commercial property sales and leasing. Prior to being elected to the executive committee, he served as district representative to the Indianapolis metro area on the ICBR board of directors.

Serving as treasurer is Carolyn Spake-Leeper, SIOR, BND Commercial. Spake-Leeper joined BND in 2015 after ten years as an associate broker at another local commercial real estate company. She specializes in sales and lease transactions of all types including both investment and owner-occupied properties. A member of ICBR and the Northeast Indiana Commercial Brokers Association, she previously served on the ICBR board as district representative to the Fort Wayne area.

Joining the executive committee this year is Brad King, Bradley Company. A long-time ICBR board member and past REALTOR® of the Year recipient, King will serve as secretary to the association. King has more than 20 years’ experience in real estate marketing, project management, planning and zoning, economic development and regulatory assistance.

Article Originally Appeared on ReJournals: https://www.rejournals.com/indiana-commercial-board-of-realtors-elects-new-leaders-20190125

Bradley Company Broker Wins Co-Broker of the Year Award

Bradley Company Broker Wins Co-Broker of the Year Award


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Merrillville, Indiana-based Commercial In-Sites LLC has awarded its Co-broker of the Year Award to senior commercial broker Ross Brown of the Bradley Company’s Merrillville office.

Brown has more than 10 years experience in commercial real estate. Before joining the Bradley Company, Brown was vice president at a real estate financial services company. During his three-year tenure there, he managed a $400 million loan pipeline and secured financing for more than $45 million in commercial real estate transactions across the country.


Article Originally Appeared at ReJournals : https://www.rejournals.com/bradley-company-broker-wins-co-broker-of-the-year-award-20190122

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The 25th Annual Market Study Shows Value Insights In Strong, but Uncertain Economy

KAR Auction Services Campus | Indianapolis - 250,000 SF Office Planned for Completion in 2019 - See more Great Projects & Insights like these inside the Market Study!

KAR Auction Services Campus | Indianapolis - 250,000 SF Office Planned for Completion in 2019 - See more Great Projects & Insights like these inside the Market Study!

SOUTH BEND, Ind. – April 12, 2018 –– Bradley Company’s 25th annual Market Study analyzes how commercial real estate is growing and changing with regions throughout Indiana and Michigan.

The company’s study, which is now available for free, has extensive data and analysis of the current conditions and trends in the commercial real estate industry for the state of Indiana and West Michigan. This useful tool also includes a forecast for the remainder of 2018.

The Market Study covers all of Bradley Company’s markets. The company has offices in Indianapolis, Fort Wayne, South Bend, Warsaw, Elkhart and Merrillville, Indiana and Grand Rapids and Kalamazoo, Michigan.

Bradley Company is marking 40 years in the industry in 2018 and is able to offer expertise and analysis with a Midwest perspective. Bradley Company continues to grow and this year’s Market Study reflects how each of its regions are performing.

New construction of mixed-use developments is occurring throughout each region in Indiana and Michigan. Indiana’s Regional Cities funds have helped spur investments being made across northern Indiana, and demand for industrial space is strong throughout the various regions.

To take a look at the highlights happening across all of our markets download or request a copy of the 2017-18 Annual Market Study, as well as each of the separate regional studies, click the button below.

 

Bradley Company would like to thank the sponsors who made the 2017-2018 Market Study possible: Barnes & Thornburg LLP, Great Lakes Capital, Fidelity National Title, Notre Dame Federal Credit Union, Lake City Bank, Teachers Credit Union, and Kruggel Lawton CPA.

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                                                      About Bradley Company

Bradley Company was founded in 1978 and has grown to become one of the leading full-service commercial real estate firms in the Midwest. With eight regional offices in Indiana and Michigan, Bradley Company provides commercial brokerage services, commercial and multi-housing management, real estate tax consulting, maintenance services, project and facilities management, corporate services, research services and strategic planning. Bradley Company employs more than 250 professionals who manage roughly 3,000 multi-housing units and nearly 10 million square feet of office, medical, industrial and retail space. For more information, please visit www.bradleyco.com

Bradley Company would like to thank the sponsors who made the 2017-2018 Market Study possible: Barnes & Thornburg LLP, Great Lakes Capital, Fidelity National Title, Notre Dame Federal Credit Union, Lake City Bank, Teachers Credit Union, and Kruggel Lawton CPA.

       

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Skyline Tower to be “topped off” in coming days

Skyline Tower to be “topped off” in coming days

The project has attracted the praise of Gov. Eric Holcomb. “Downtown amenities and housing are essential to building quality of place, and the Skyline Tower in Fort Wayne will be a driving force in creating vibrant communities that retain and attract talent, supporting northeast Indiana on its Road to One Million,” said Holcomb at the time of the groundbreaking.

Bradley Company Grand Rapids unveiling new office in Waters Center

Bradley Company Grand Rapids unveiling new office in Waters Center

Grand Rapids, MI – November 8, 2017

Bradley Company is expanding its office in a new location due to continued growth. Since opening in 2014, the office has grown from three employees to 10. The company’s real estate listings have grown 285 percent and annual deal values have increased 3,000 percent. “We’re excited not just for our growth, but for the growth happening around us,” said Sally Tucker, managing director of Bradley Company Grand Rapids, one of eight offices the commercial real estate company has in Indiana and Michigan.

The new office is at the Waters Center, at 161 Ottawa Ave. NW, Suite 308, overlooking Grand Rapids’ Central Business District. The Waters Center was the 2016 Project of the Year for the Commercial Alliance of Realtors in West Michigan. Ongoing growth both in property management and commercial brokerage necessitated a larger office. Brokerage has increased, but so has Bradley Company’s property management of both retail and multi-family accounts. “Our business footprint has grown significantly in the last three years,” said Tucker. In 2016, Jeff Tucker joined the company as vice president for office brokerage in the Grand Rapids Market. He has 25 years of real estate experience and helps clients with strategic planning, transaction execution for both acquisition and dispositions, and portfolio management throughout the West Michigan region. Drew Nelson became a brokerage associate in 2016 for

Bradley Company. He specializes in office, retail and investment properties and also has more than 25 years of experience. The 2,700-square-foot office has an open design to encourage collaboration among the employees. “Our team values working together to find solutions for our customers,” said Tucker, who started working in commercial real estate 12 years ago after returning to Michigan from a career in the apparel industry in New York City. “We’re pleased with the expansion of our office in Grand Rapids and how our experienced team is growing to help folks in West Michigan,” said Brad Toothaker, President & CEO of Bradley Company. The company will celebrate 40 years in business in the Midwest in 2018. In addition to Grand Rapids, it has an office in Kalamazoo and a number throughout Indiana.

About Bradley Company Bradley Company was founded in 1978 and has grown to become one of the largest full-service commercial real estate firms in the Midwest. With eight regional offices in Indiana and Michigan, Bradley Company provides commercial brokerage services, commercial and multi-housing management, real estate tax consulting, maintenance services, project and facilities management, corporate services, research services and strategic planning. Bradley Company employs more than 250 professionals who manage roughly 3,000 multi-housing units and nearly 10 million square feet of office, medical, industrial and retail space.