Indiana Commercial Board of REALTORS® The statewide association for commercial real estate professionals in Indiana. 2016-06-24T19:52:41Z Ashley <![CDATA[Vendor Spotlight: Somerset CPAs and Advisors]]> 2016-06-20T14:03:39Z 2016-06-20T14:03:19Z Read More ...]]> Mike Fritton, Principal at Somerset CPAs and Advisors,  tells ICBR about his company and why they belong to Indiana’s commercial board.

ICBR: Why did your company become a member of ICBR?

Fritton: We enjoy the opportunities to network with the decision makers and people of interest in the Real Estate Industry.

FrittonICBR: What is the biggest misconception about what you do?

Fritton: That we only do taxes. We actually use an integrated approach that analyzes every aspect of a real estate transaction, and examines how each one affects the business and owner objectives. Along with personalized financial advice, we provide creative solutions designed to help your real estate business succeed.

ICBR: How did you get involved with your industry?

Fritton: Real Estate issues effect every business from manufacturing to logistics. Our specialty in Real Estate helps us serve all of our clients.

ICBR: Do you have any mentors? If so, who? How has he/she inspired you?

Fritton: I’ve had many people over my career that have been incredible role models and mentors for me. My hope is that I am able to pass that wisdom and experience on to others.

ICBR: Most recent accomplishment?

Fritton: Our clients success is our success. Our clients have been awarded IBJ 40 under 40, Fastest Growing Companies, Best Places to Work – to name a few. We are honored to be a part of clients success and to help them achieve their accomplishments.

ICBR: What designations, Awards, Recognition have you received?

Fritton: Somerset has been on the Best Places to Work listing and Book of Lists Largest Accounting Firms. Our accountants have been recognized as both outstanding leaders and mentors in the business community.

ICBR: What else would you like to share?

Fritton: We are excited about our relationship with ICBR and it’s members. We find that our membership allows us to greater interaction with the prominent members of the Real Estate Industry.

Ashley <![CDATA[ICBR Members Give Back]]> 2016-06-17T17:35:03Z 2016-06-17T17:35:03Z Read More ...]]>  

ICBR members braved the heat Thursday, June 16, to give back to the community through Habitat for Humanity of Greater Indianapolis.

Several members from firms around Indianapolis joined together to work on Greater Indy Habitat’s first build in Greenfield, Indiana. Alongside the new homeowner, ICBR painted and prepped the home for a targeted move-in date later this month.

Donations to help fund the site were also received from members around the state and attendees at this year’s Indiana Commercial Real Estate Conference.

Thank you to all of our volunteers and donors. Your efforts help make dreams come true for local, Indiana families!

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Ashley <![CDATA[ICBR education schedule set through 2016]]> 2016-06-15T12:21:50Z 2016-06-15T12:21:50Z Read More ...]]> New Commercial Real Estate Certificate Program classes to be offered

INDIANAPOLIS – The Indiana Commercial Board of REALTORS® (ICBR) is pleased to announce its education schedule for the remainder of the year. ICBR will offer several classes around the state as part of its new Commercial Real Estate Certificate Program.

The next class, Commercial Real Estate Financing, will be held June 21, in Indianapolis. The course counts as two hours of continuing education and focuses on understanding financing sources available for commercial real estate.

Registration and complete details about the program and classes can be found at

Keeping with ICBR’s mission to be Indiana’s leader in commercial real estate education, the certificate program offers a comprehensive curriculum to bridge the gap between standard pre-licensing courses and specialized commercial designations.

The program is ideal for professionals new to, or wanting to begin a career in commercial real estate. Membership with ICBR is not required.

Certificate classes will be offered throughout Indianapolis, Bloomington and Fort Wayne with other possible locations being offered in 2017.

All real estate professionals whether residential, commercial, ICBR member or non-member are encouraged to attend.


ICBR is a commercial overlay board for commercial real estate professionals.  Its members are dedicated to serving the needs of commercial clients in aspects of brokerage, leasing, appraising, property management, and development.  ICBR has a statewide membership base of more than 600 professionals.  For more information, visit the ICBR website at

Ashley <![CDATA[Vendor Spotlight: Alderson Commercial Group]]> 2016-06-06T15:08:47Z 2016-06-06T15:07:40Z Read More ...]]> Daniel Taylor, Director of Business Development with Alderson Commercial Group,  tells ICBR about his company and why they belong to Indiana’s commercial board.

ICBR: Why did your company become a member of ICBR?

Daniel TaylorTaylor: We are a sponsor of the ICBR annual conference.

ICBR: What is the biggest misconception about what you do?

Taylor: We’re a contractor, NOT a developer.

ICBR: How did you get involved with your industry?

Taylor: Been doing it since I was 7 years old.

ICBR: Do you have any mentors? If so, who? How has he/she inspired you?

Taylor: My dad – he has an entrepreneur type spirit.

ICBR: What is the weirdest question someone has ever asked you about your company or what you do?

Taylor: If we renovate houses.


Ashley <![CDATA[Member Spotlight: June 2016]]> 2016-06-01T12:46:11Z 2016-06-01T12:45:34Z Read More ...]]> Rachel Romary

Each month, ICBR honors one of its members in a special Member Spotlight. This month we recognize Rachel Romary, with Bradley Company

ICBR: Why are you an ICBR member? What do you look to gain out of your membership?

Rachel RomaryRomary: I became an ICBR member to be part of the Commercial Real Estate Brokers network, to ensure I am receiving quality continuing education and to have access to specific commercial resources in our industry.

ICBR: Describe a time you used an ICBR member benefit, and how it helped you or your company.

Romary: I have utilized ICREX to help locate property comparables for my clients who are looking to expand in different markets where I would not normally have comp access.

ICBR: How did you start your career in commercial real estate/development?

Romary: I was first exposed to commercial real estate in 2010.  Close friends of mine purchased a division of a national company and was in need of a new location.  They hired me to scout out the perfect building to suit their needs and they are still there today.

ICBR: Do you have any mentors? If so, who? How has he/she inspired you?

Romary: Stan Phillips has been my mentor since moving to Bradley Company in December 2015. Stan has a wealth of knowledge in the retail industry and a dominant presence in our market. It is an honor to learn and work with him.

ICBR: What is the most important thing you have learned by working in commercial real estate?

Romary: Not to take myself, or anyone else too seriously. Business is business, and at the end of the day, if we can all shake hands and get the deal closed, we’ve done our jobs.

ICBR: What is your current professional goal(s)?

Romary: My current goal is to help build our retail team to have the strongest retail presence in Northern Indiana in the areas of property listings and tenant representation.

ICBR: What is your most recent accomplishment?

Romary: I feel that my most recent professional accomplishment has been to figure out my niche being in the retail market and surrounding my self with the best team to help me achieve my goal.

ICBR: Special interests or hobbies?

Romary: I really enjoy spending time with my children, family and friends in my spare time.  I also like to be outside golfing, boating, running, going to sporting events, etc…  I’m a very social person, so I enjoy being part of the crowd.

Ashley <![CDATA[ICREX Training Events]]> 2016-06-02T14:54:05Z 2016-05-31T13:27:38Z Read More ...]]> ICBR will offer three free training events June 28-29, for Indiana commercial real estate professionals to come learn about the Indiana Commercial Real Estate Exchange.

At this event attendees will learn the basics of an account, reports & marketing, tips & tricks and go over other resources that are available through ICREX to help with business needs.

ICBR staff and national representatives from the ICREX provider, Catylist, will be present to answer questions and demonstrate how to get the most out of this statewide, commercial listing platform.

Register online for one of the locations below.

  • June 28, 10 a.m. – 12 p.m.
    Bloomington Convention Center, Bloomington
  • June 28, 3 – 5 p.m.
    Broadmoor Country Club, Indianapolis
  • June 29, 10 a.m. – 12 p.m.
    Swan Lake Resort, Plymouth

Bring a testimonial on how the system has helped your business or an example of deals you have closed as a result of ICREX and be entered to win a $100 giftcard. Unable to attend? Email us your story!

Ashley <![CDATA[Indiana Commercial Board of REALTORS® Awards 2016 REALTOR® of the Year]]> 2016-05-11T13:54:47Z 2016-05-11T13:54:47Z Read More ...]]> INDIANAPOLIS – Jim Baker, CCIM, SIOR, Baker Commercial Real Estate, Jeffersonville, Indiana, was named Indiana Commercial Board of REALTORS® 2016 REALTOR® of the Year during the Indiana Commercial Real Estate Conference May 5-6, at the Ritz Charles in Carmel.

Baker boasts nearly 40 years of experience as a REALTOR® and previously served as the district seven representative on 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).

More than 400 commercial real estate professionals were present to congratulate Baker on this achievement.

Baker has continuously been a leader in his community and in the commercial real estate industry through many years of service on the ICBR Board of Directors and other organizations throughout the state.  Not only is he a licensed broker, but also a licensed real estate instructor and certified level III assessor-appraiser.

Outside of commercial real estate, Baker is an accomplished musician. It was through this passion that he made a professional connection that would set him on his real estate path many years ago.

As current secretary of ICBR, he will step up to lead the organization in 2019.

Presented annually by ICBR since 1994, the REALTOR® of the year award recognizes those members who go above and beyond in their career and community.  In addition to membership in ICBR, award criteria include:

  • Industry Impact – exhibits professional leadership and expertise in the industry
  • Civic Activity – participation with civic and service clubs, economic development organizations, charitable activities, etc.
  • REALTOR® Spirit – high principles of integrity and adherence to the REALTOR® Code of Ethics
  • Business Accomplishments – public recognition of business conduct and service to clients
  • ICBR Association/Board Activity – service as a volunteer in committee work or other areas with the organization
  • IAR or State Association Activity – offices held and committee work at state level
  • NAR or National Association Activity – volunteer participation at the national level


ICBR is a commercial overlay board for commercial real estate professionals.  Its members are dedicated to serving the needs of commercial clients in aspects of brokerage, leasing, appraising, property management, and development.  ICBR has a statewide membership base of more than 600 professionals.  For more information, visit the ICBR website at

Ashley <![CDATA[The Environment of Environmental Legislation]]> 2016-05-04T12:37:29Z 2016-05-04T12:37:29Z Read More ...]]> By Bill French, Cushman & Wakefield

Complexities associated with environmental legislation have compounded over the years and must be thoroughly contemplated when developing or purchasing commercial property.  Environmental law and legislation means many things to many people however I will endeavor to touch on two topics for your consideration.

Banks and lenders at a minimum require a Phase I environmental Assessment prior to purchase or construction loan funding.   The Phase I is an excellent depiction of the current property status but also looks into the rear-view mirror at former property uses and surrounding properties which might have an impact on your targeted property.   In many instances, your property may have been impacted by activities of a drycleaner or gas station next door or down the street.  This Phase I will provide you a good snapshot to evaluate the environmental risks associated with the property and for you to base your investment decision.  Conversely, it is wise if you are going to sell property to have a Phase I completed prior to your marketing efforts in order to assess the environmental situation and avoid future complications once a purchaser is found.

The Phase II portion of environmental assessment  deals with physical inspections; including testing of building materials, soils and the groundwater located beneath.  This probing and testing is essential should the Phase I implicate contamination is likely.  This work can be expensive and timely but is a wise investment if there are any questions.   Don’t talk yourself into a short cut by eliminating Phase I & II investigations.

New rulings by the Environmental Protection Agency (“EPA”) and other governing bodies have recently implemented Waters of the United States (“WOTUS”).  I had always envisioned WOTUS being the Great Lakes, the Mississippi River and other navigable waterways; however the interpretation is dramatically different.  For example, if you notice construction along SR 37 which shall shortly be I-69 south of Martinsville you will see a tremendous amount of orange fencing surrounding small parcels and drainage areas with notifications indicating WOTUS.  In the past I would have considered these to be drainage ditches designed to handle the stormwater flow from State Road 37’s road beds.  To my surprise, even these small and man-made areas are considered to be WOTUS.  Agriculturally many farmers are finding areas they have actually farmed for years on a regular basis are now considered to be within the confines of WOTUS.   This is a big shock to many in the agricultural industry and is an indicator that past and present uses may not apply to the future use.

Protecting our waterways, marshlands and wetlands is essential to preservation of the environment; however when you are looking to acquire property make sure you have done your research to determine if you have wetlands and/or WOTUS which impact your property.  Just because that field had been farmed for the last 50 years does not mean it is exempt from these rules and regulations.  Given the state of regulation that exists make sure you do your homework as the rule of caveat emptor (buyer beware) applies.

Ashley <![CDATA[Are you going to make the deadline?]]> 2016-04-20T12:31:37Z 2016-04-20T12:28:55Z Read More ...]]> The deadline to get all 12 hours of your continuing education for this license year is June 30. That’s roughly two months from now. Will you make it?

Per the Indiana Real Estate Commission, brokers are required to complete 12 hours of education each license year (July 1 – June 30) to maintain their license.

Education can be earned through a variety of subjects including:

  • Commercial Real Estate – Legislative Issues, Land Development, Financing, and more
  • Appraisal
  • Land Development
  • Law – Anti-trust, license and escrow, civil rights, agency.
  • Contracts
  • Ethics/Professional Standards
  • Settlement Procedures
  • Property Management
  • Farm Property Management

While there are no longer mandatory and elective requirements, Managing Brokers ARE required to have a minimum of 4 hours each year dedicated to skills needed by managing brokers. The education provider can confirm if a class is eligible for managing broker credit.

All the requirements above can be met by attending ICBR’s annual Indiana Commercial Real Estate Conference May 5-6.

The one exception to these licensing rules is brokers who earned their license after June 30, 2014. If you are a new broker, you have a completely different set of requirements to start with.

New licensees are required to complete 30 hours of post-licensing education in specific subject areas within the first two years of being licensed.

So don’t wait – make sure you are on track to complete your education today.

Ashley <![CDATA[Collaborate on transit, or miss out on jobs]]> 2016-04-06T14:50:45Z 2016-04-06T14:49:22Z Read More ...]]> By Bill Ehret, SIOR, Avison Young

We’ve seen a lot of headlines about companies bringing new jobs to the Hendricks County area. It’s easy to see why. With a great location, a pro-business mentality and room for growth, the area has plenty to offer.

However, if the metro area doesn’t come up with a better way to get workers to jobs, growth in Hendricks and other counties surrounding Indy could dry up. As a result, I’m calling on employers, property owners and municipalities to collaborate on a solution. Otherwise, our area might miss out on future jobs—and even lose existing jobs.

Plainfield and Whitestown have done a great job attracting big employers. But, historically, almost half of all the workers in Hendricks County come from outside the county. So, the more jobs the area attracts, the farther its workers will have to travel to get to the jobs. Without an inter-county transit system, that’s a problem.

Currently, the Central Indiana Regional Transportation Authority, the towns of Plainfield and Whitestown, IndyGo and a number of public-private partners operate three shuttle services from the Marion County line to employers in Hendricks and Boone counties. However, these shuttles are supported in part by a three-year federal grant. We need a long-term solution.

I recently talked with one area business owner who said his employee turnover is three times what it should be, with much of it attributed to workers’ transportation issues. This is not what you want to hear from employers in our metro area.

I see a few ways we can respond to this challenge.

  • First, we start thinking of transit as a necessary element of infrastructure. For too long, we’ve thought of it as something other than infrastructure—as a luxury. No more. We have to accept that it’s a part of the multifaceted process for getting workers to work and, therefore, include it in transportation spending, right along with roads.
  • Second, developers and property managers work with employers to help pay for transit to their commercial parks. Again, they can think of it as infrastructure, and include a fee just as they do for snow removal, retention ponds, etc.
  • Third, municipalities commit tax revenue to transit. They could capture a small percentage of what they already collect and commit it to transportation. A relatively small amount could make a big difference—especially if it’s combined with a small fee developers could charge employers.

If you look at that solution closely, you’ll see it involves a variety of stakeholders: the business and developers pay part of the cost, as do taxpayers and municipalities. In other words, this is not a cost we put on any single group. We all must work together to make transit a reliable part of our economic development scenario. If we do, we’ll all benefit. If we don’t, we all could lose.