August 5, 2015— Despite the national sales data for the month of June, the local retail market continued on a steady path to recovery during Q2 2015, according to CBRE’s Retail MarketView for Indianapolis. The quarterly report highlights retail activity for Q2 2015.
Highlights from the report include:
Indiana’s unemployment rate fell again in June to 4.9 percent —the lowest it’s been since February 2008. Indianapolis-Carmel-Anderson unemployment stands even lower at 4.5 percent — a 120 bps decline from last year at this time.
As more residents move to the downtown and Central Business District (CBD) area, retail and restaurants continue to respond to the increase in demand with more and unique offerings.
Sales and investment activity tapered slightly this quarter after a strong start to the year. However, net Leased properties continue to push average price per square foot higher and cap rates lower.
“In 2015, we have seen cap rates reach historic lows,” said Matt Gray, Senior Associate who specializes in retail investment property sales at CBRE’s Indianapolis office. “Any near term changes will largely depend on interest rate movement.”
CBRE’s Indianapolis office is a fully integrated real estate services firm in the State of Indiana and has been the city’s leader in commercial real estate services since its inception in 1981. For more information, please contact John Merrill, Managing Director.
To request a copy of the report or to speak to a CBRE professional, please contact Joe Ludwig at +1 513 369 1305 or email@example.com.
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