Indy, Midwest Get Stronger as Markets for Investment

Salesforce Tower in Indianapolis, in which the tech giant Salesforce.com has leased more than 200K of space.

CHICAGO, INDIANAPOLIS—Cap rates are on the rise in many US core markets, and both institutional investors and private buyers are paying more attention to smaller metro areas. As a result, some firms have decided to expand the services provided to clients across the Midwest.

Lee & Associates, the largest broker-owned commercial real estate firm in North America, recently brought on industry veteran Rebecca Wells as a senior vice president in the Indianapolis office, a move that will strategically grow its capital markets business in secondary metros around the Midwest. During her more than 23-year career, Wells has successfully executed over $1 billion of investment sale transactions on behalf of institutions, REITS, developers and private clients.