Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Dec. 16, 2020

More Jobs Coming to Richmond!!

Durbin Real Estate recently finished up negotiations on a long term deal bringing another 10-13 jobs to Richmond, Wayne County, Indiana.  The deal will help restore and bring life back to a 20,000 SF building located at 1700 NW 5th St. that has been vacant for over 2 years. Renovations are under way now and will continue through the 1st part of 2021 with a targeted move in date scheduled for March 1st.  Durbin Real Estate would like to thank everyone that was involved from the landlords to the contractors and especially would like welcome Quick Lifts to our community!

Indiana is home to 8,500 manufacturing facilities and the highest concentration of manufacturing jobs in the U.S., supporting one in five jobs. Manufacturers in Indiana have added 107,300 new jobs since July 2009, ranking No. 2 in the nation and growing at a rate of 25 percent. 

 

Quick Lifts, LLC, will support additional families who are seeking jobs especially during the pandemic.  Quick Lifts is an Indiana owned and operated company located in Indianapolis.  They specialize in a variety of equipment and services to help you get your job completed on-time and on budget.  With their new fleet of JLG Scissors, Knuckles, and Personnel lifts customers can count on quality construction equipment to be delivered to their jobsite. Whether in the market to purchase or rent, they have the tools needed to get the job done.  Quick Lifts can also assist with dirt work by using Excavators, Backhoes, or Skid steers.  Their skilled mechanics can also work on problems with equipment that’s been damaged or needs regular maintenance.

 

If you’re considering to lease, purchase or invest in a commercial property, then look no further! For the past 20 years, Durbin Real Estate has done over $200 Million in sales and leasing revenue and has streamlined the process of buying and selling commercial properties by making it easier for first time and experienced clients.  With industry experts who are made up of caring and knowledgeable professionals who works tirelessly, clients shall receive the best local access and services to commercial, warehouse, retail, industrial, service providers, property managers, lending professionals, title companies and more.  Contact us today to find out how we can be of assistance!  You might be glad you did!

 

Posted in Market Updates
July 29, 2020

New Manufacturing Jobs Coming to Richmond!

 Phillips Tube Group Chooses Richmond!

 

Durbin Real Estate would like to thank Phillips Tube Group for choosing us to represent them on their first Indiana location as they aggressively expand into the Midwest Steel industry.  This decision by Phillips will bring good paying manufacturing jobs to our very own Wayne County!

On July 29, 2020 - Phillips Tube Group, a welded steel tube manufacturer, announced they will locate a new facility in Richmond, IN after purchasing the former Matthews manufacturing building located at 401 Industrial Parkway in the Eastern Indiana Industrial Park.

During this long process, Phillips Tube Group, originally had their eyes set for their Indiana expansion to be in New Castle, IN, even having a building under contract.  After long negotiations and having Phillips give us the opportunity to to showcase our great city, prime logistical location, as well as keeping an open mind to view one of our top of the line manufacturing facilities, Durbin Real Estate was able to establish trust with top leaders at  Phillips that our city was and is fully capable to accommodate all their manufacturing needs.

Phillips Tube Group is an industry leader offering fabrication-ready tubing, including small diameter tubing with special coatings and surface modifications to withstand the most extreme conditions. Customers include Chrysler, Ford, General Motors, Honda, Nissan, Toyota, Nortek and Lennox. The company plans to invest $8.2 million and hire 30 new full-time employees by 2024 paying an average hourly wage of $26.

For more information, you can also visit https://www.pal-item.com/story/news/local/2020/07/29/phillips-tube-group-bring-30-higher-paying-jobs-richmond/5534672002/ or www.phillipstube.com .

 

Posted in Market Updates
March 13, 2020

Commercial Real Estate

WHAT IS COMMERCIAL REAL ESTATE?

 

Commercial Real Estate is any non-residential property used for producing income or commercial profit-making purposes. Commercial Real Estate includes retail, hotels, office buildings, apartment buildings, industrial buildings, etc.

 

Example:

  “A company, tenant(lessee) wanted to open up a salon and spa in Indianapolis.  The property is owned by a landlord(lessor). Instead of spending capital to purchase a building, a tenant(lessee) can find more benefits by leasing a building from the lessor. The tenant will lease the floor space from the company and pay the monthly rent and other cost depending on the negotiations of any lease.  From here on, the tenant(lessee) will have a signed contract for a certain amount of time most likely 3 to 5 years to stay in the real estate with little to no capital to begin her venture. Both parties sign the lease agreement and a new business is established. “

This is a good example of how a smaller commercial real estate transaction can take place in a lessee or lessor's standpoint.

 

Importance and Economy

According to Real Estate Data story as of 2018, with a total of $543 billion, Commercial Real Estate contributed 3% of total economic input in the US.  Commercial Real Estate also provides for a tenant, as you can see the example from above, many investors have place money on real estate as supposed to stocks.

As the world population grows, the demand for real estate increases over time. And since properties are limited resources, investments are guaranteed to appreciate especially for long-term plans. Like any other investment, risk is involved, see your financial advisor or your real estate broker to learn more.

 

 

What’s next?

If you’re considering to lease, purchase or invest on a commercial property, then look no further! Durbin Real Estate, a 20-year-old company of over $200 Million Revenue, has streamlined the process of buying and selling commercial properties by making it easier for first time and experienced clients.  With industry experts who are made up of caring and knowledgeable professionals who works tirelessly, clients shall receive the best local access and services to commercial, warehouse, retail, industrial building, service providers, property managers, lending professionals, title companies and more.  Contact us today to find out how we can be of assistance!

 

 

 

 

 

 

 

 

 

Posted in Market Updates
Nov. 27, 2019

Former Home to NAPA Auto Parts & PK Lumber is SOLD

Durbin Real Estate just recently closed on the sale of 801 NW 2nd Street in Richmond, IN.  This building was former home to PK Lumber for several years and NAPA auto parts most recently.

Coffee Auction Company purchased the building for for their Auction company as their business continues to grow.  Coffee Auctions have been around the Wayne County area for years and specialize in Estate, Personal Property, Real Estate and Fundraising Auctions.  

 

Aerial of 801 NW 2nd

 

The property consist of over 5 acres with a secure lot.  The main building is just over 10,000 SF and will give Coffee Auction company plenty of room and security for it's clients personal property auctions and more.  There are four more buildings on the 5 acre lot that consist of over 25,000 SF giving the auction company well over 35,000 square feet for storage and growth.

Front of Building

Durbin Real Estate specializes in all aspects of Real Estate and has been servicing Wayne County for 20 years.  Durbin Real Estate most recently expanded it's operations into the Indianapolis market too.  Are you looking for property?  Curious about your value?  Visit www.DurbinRealEstate.net for more information or a private consultation.

 

Posted in Market Updates
Sept. 13, 2019

Recovery Works to Add 32 More Beds

Ground Breaking Ceramony at I-70/SR 1 Location

Durbin Real Estate successfully negotiates a 32 Bed Expansion for Recovery Works, a sister company to Pinnacle Treatment facilities.  The deal includes the sale of an additional 3.5 Acres and lease extension allowing for the successful expansion. 

Recovery Works currently has a 32-bed facility, set up in two sections. One section is 16 beds for women and the other provides 16 beds for men.  When it opened, Recovery Works was the first detoxification facility in Wayne County.  Recovery Works expects to break ground on their expansion as early as next week giving them a total of 64 Beds.

Durbin Real Estate initially negotiated a long term deal back in 2016 bringing them to the Wayne County area because of the obvious needs.  In January 2017 they opened their doors for the 1st time and served an estimated 250 patients in the first year alone.   

If you or anyone you know and love struggles with addiction reach out to them at (844)768-1193.  You can also visit them at their location in Cambridge city located below.

 

2060 State Road 1 North

Cambridge City, IN 47327
Phone: 1 (844) 768-1193

 

Published, By Durbin Real Estate, LLC.

 

 

July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates