Business briefs: Spec building project changes hands

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HANCOCK COUNTY — Exeter Property Group has sold a project involving a large speculative building in the western part of the county to T.M. Crowley & Associates.

Randy Sorrell, executive director of the Hancock Economic Development Council, announced the change to the Hancock County Board of Commissioners earlier this month.

The project involves plans for a building over 520,000 square feet near the northeast corner of CR 300N and CR 400W for an estimated investment of $48 million.

The county board of commissioners approved an economic development agreement with Exeter Property Group over the project earlier this year outlining tax breaks and payments to the county. The commissioners voted in favor of changing the agreement to reflect the new ownership, pending legal review.

Kennedy honored by IBA

John M. Kennedy has been honored by the Indiana Bankers Association by being named to the 2022 Class of Leaders in Banking Excellence.

President, CEO and chairman of Greenfield Banking Company and Greenfield Bancshares Inc., Kennedy joined GBC in 2005 and was named president and CEO in 2012 and chairman in 2018. Prior to joining the bank, Kennedy worked with companies including the Federal Home Loan Bank of Indianapolis and J.P. Morgan. He is an Indiana Bankers Association south region director and previously served as a Blue Gold Officer with the U.S. Naval Academy Admissions department. Community leadership includes board service with the Hancock Economic Development Council, Ransburg YMCA, United Way, and Scecina Memorial High School. Prior to his financial career, Kennedy was an officer with the U.S. Navy for four years and continued to serve in the U.S. Navy Reserve for 30 years, retiring as a captain in 2010. He earned a bachelor’s degree from Purdue University and an MBA from Rutgers University.

Officials commission retail gap study

CUMBERLAND — The Cumberland Town Council approved a proposal not to exceed $16,000 from Indianapolis-based Veridus Group for a retail gap analysis.

The firm’s work will include identifying retail nodes and collecting data to inform population and demographic trends along with identifying economic drivers. The study will also assess local supply and demand for specific retail products and establishments while also examining consumer characteristics.

Work is estimated to take three to four months, after which Veridus Group will identify commercial developers to share the data with in the hopes of sparking interest between them and the town.

Home-building permits up

HANCOCK COUNTY — The county had 643 home-building permits in January through May of this year, up from 521 for that same time period in 2021, the Builders Association of Greater Indianapolis reports.

It’s an outlier for a nine-county central Indiana region, for which BAGI cites 850 permits issued last month compared to 1,034 in June 2021 — a 13% decrease year over year.

Despite the lower permit numbers, local home-builders and suppliers remain busier than ever, as companies continue to convert prospects and sell new home builds, BAGI CEO Steve Lains said in a news release.

Builders remain optimistic, Lains continued, adding that permit activity is still very strong for the Indianapolis market and an increase in land development is encouraging for future home communities and new home construction activity.

Other counties besides Hancock County saw an increase in permits in June, including Johnson and Marion counties. Marion County had a 31% increase, with 165 issued last month compared to 126 in June 2021.

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