Indianapolis, IN – September 21, 2010 – (RealEstateRama) — Lee & Associates, one of the largest commercial real estate providers in the country, has announced a merger with Harding Dahm & Company, one of Indiana’s top full-service commercial real estate brokerage firms.
On the heels of Lee & Associates opening its 40th office in Atlanta last month, Lee Indianapolis will provide an important link between the firm’s six other Midwest offices as well as its other nationwide locations.
Edward J. Indvik, chairman of the Lee Advisory Board and vice chairman of Lee & Associates Investment Services Group, called Lee’s new full-service office an important link in the firm’s national strategy.
“Indianapolis is another strategic hub for our Midwest expansion plans. It provides expanded scale and coverage to our other six Midwest locations in Illinois, Michigan, Wisconsin and Missouri thereby giving additional value to our existing national presence and client base,” said Indvik.
Located at 500 E. 96th St. in Indianapolis – and with a satellite office at 3209 West Smith Valley Road in Greenwood, Ind. — Lee & Associates Indianapolis is headed by a veteran team of Scot Courtney, Stan Elser, Dan Higgins and Bob Lindgren and comprises 23 brokers and an office support staff of 13, including the office in Greenwood.
“Harding is a great firm with some of the best and deepest talent in the marketplace and trade area,” Indvik said. “This is truly one of the finest groups of professionals we could have wanted. We continue to see unlimited opportunities to expand our presence and expect to have additional announcements about openings in the Midwest as well as other regions of the country in the near future.”
Courtney, formerly the president/principal and director of Retail Services of Grubb & Ellis/Harding Dahm & Company , said the Indianapolis and Greenwood offices will not only continue in providing the utmost service to its clients but its brokers will be enabled with additional means to support and provide the best service possible.
“We are excited to join the growing Lee organization. We feel the Lee business model offers us excellent opportunities for future growth within the Central Indiana market and Lee’s commitment to local representation will allow our transaction services and property management professionals to provide the best service to our clients,” said Courtney.
Since its inception in 1983, Harding Dahm & Company had established itself as one of the top firms in the Central Indiana market. Indeed, in 2009, the Indianapolis Business Journal ranked Harding No. 5 among Indianapolis commercial real estate brokerage companies. With client representation in the industrial, retail, office, investment, development land and property management markets, Lee Indianapolis also provides facilities management, corporate services, construction management and development consulting services.
Lee’s presence in this region comes at a time when the industrial real estate segment, with more than 263 million square feet of space and growing, is the area’s largest, adding between 3 million and 8 million square feet of inventory annually. The Central Indiana office market encompasses nearly 47 million square feet of space and is driven by regional office locations, along with a strong entrepreneurial and a life sciences economy that is bringing new and growing firms to the market.
With extensive efforts to revitalize the city’s population growth and downtown area, Indianapolis has also seen large increases in both its retail square footage and multifamily housing development. In addition, while job growth in some areas of the nation has been sluggish, Indiana is in fact experiencing an upswing in employment.
In an April 2010 report from the Indiana Department of Workforce Development, the state is leading the nation in overall job growth. The report notes Indiana has experienced four straight months of job growth and April’s growth was the strongest in 11 years.