Indianapolis Commercial Property

Commercial Property:

The area has seen a great deal of growth, with many office space developments to help business thrive. The private sector and larger scale companies that occupy high rises have given way to many office space opportunities for small and medium size businesses to take advantage of. A recent search of office vacancies yielded results as low as $400 for small office spaces in prime locations, and $1 – $3 a square foot for larger scale options, retail storefronts, and temperature controlled storage spaces of 1,000 square feet and larger. No matter what size space a business needs, the greater Indianapolis area has many commercial property options to look at.

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The capital city of the state of Indiana is Indianapolis. The city has a large history that dates back to the 1820’s. The estimated population of the city is 798,382 and a greater metropolitan area population of around 1.7 million residents. The city is located squarely in the middle of the state, and has several nicknames including, “The Circle City”, “Speedy City”, “The Crossroads of America”, and “The Racing Capital of the World”. The city has a high concentration of industry, sports, art, and culture and is a great overall center.

Jobs, Climate, Culture:

The city of Indianapolis has a great deal of industries and companies in the area. The sectors that employ the most amounts of people include health care, social services, retail trade, and manufacturing. The state also has a high concentration of white-collar jobs. Like many other major cities, the area is flooded with several large companies, which employ thousands of people. The area is home to Wellpoint, Republic Airways Holdings, Finish Line Inc, Simon Property Group, and Conseco just to name a few. It is also a large distribution center for mail order and ecommerce companies. Despite a large amount of employment options in the area, the unemployment rate is at 9% and has been relatively steady in recent months, although the outlook is optimistic.

The climate of the greater Indiana area is classified as humid continental climate, and is similar to many of the Midwest states. There are four different seasons, with the highest temperatures reaching around 90 degrees during summer, and the coldest temperatures dipping to below freezing with several months of snow and rain. Despite the extremes, the area has an overall temperate climate for several months, before the extremes set in.

Indianapolis Housing:

The real estate market in the greater Indianapolis are has been quite steady despite the national forecast looking bleak for many areas. The median home price of Indianapolis is $122938, which is somewhat low compared to other large Midwest cities. The value of many homes is steady in harsher times, making the place relatively affordable for all walks of life, and a good investment for those looking for property.

The mayor of Indianapolis is Gregory A. Ballard and is the 48th mayor of the city. The mayor has been working towards building the city’s infrastructure, utilizing much revenue to allow for development, city improvements, gentrification, demolishing of unsafe homes, fixing sidewalks and many other parts of the overall economic picture.

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