Newmark Grubb Cressy & Everett recently released their 2nd Quarter 2014 Commercial Real Estate Market Trends report for the Michiana Region. Links to each are attached to this post but can also be found at http://www.cressyandeverett.com/
What does the trending show? Generally good absorption of industrial vacancy in both St Joseph County and Elkhart County with Elkhart showing a need for good quality industrial buildings. Several large deals occurred in the last quarter which should provide some momentum going forward in the next couple of years.
The South Bend Mishawaka office market also showed some overall positive absorption, though trends for lease rates and vacancy remains fairly constant over a few years. If we are able to see continued growth in aerospace, engineering and distribution locally, we should see employment numbers improve and office absorption increase.