Hundreds of real estate professionals meet at Indianapolis conference

Hundreds of real estate professionals are meeting Thursday at the Indianapolis Real Estate Conference to discuss the future of their business.

Many commercial real estate agents will tell you the market these days are both sobering and enlightening.

One real estate agent put it best: People need space to do their job and so job growth is the driver of the commercial real estate climate.

One sign of growth is Eli Lilly’s decision to rent space to Rolls Royce, moving 2,500 jobs downtown.

Industry insiders said sales at outlet malls also are helping big companies increase revenue, as retailers and apparel companies grow in that part of the industry.

One economist at Tulane University recently released a report citing commercial real estate is not experiencing the tepid recovery experienced by the broad economy, but it is bumping along the bottom. Without more businesses, the less job opportunities there are.

Local real estate experts agree.

Hundreds of commercial real estate agents are gathering in Indianapolis over the next two days to discuss the outlook for 2012.