News Items

January 2009
Sun Valley Auction/Good News in Elkhart County[-]

Sun Valley Auction

FM Stone/Bartel and Company Auctions recently completed the acution of equipment and inventory at the former Sun Valley RV company in Howe, IN. Over 600 bidders attended the auction.

Good News in Elkhart County!

This is a Dynamic Market for Economic Development & Job Creation.

• Transportation Hub – Businesses can reach 1/3 of the US Population within just one day’s drive. A prime location for logistics and customers!

• Quick & Easy Access to Chicago, Indianapolis and many other large cities. For Fun and Business.

• Affordable Cost of Living! Elkhart is considerably lower than most of the Midwest and 37% less than Chicago.

• Overall Low Tax Environment! Plus, low utility rates. Great for existing businesses to expand and attractive to new companies.

• Abundant access to rivers and lakes, including Lake Michigan – Most communities lack these spectacular, natural amenities.

• Unique Entrepreneurial Business Climate – Voted our #1 characteristic.

• Generous & Caring Population – Voted our #2 characteristic.

• Intellectual Property & New Patent Leader! Elkhart County ranks #2 in Indiana (only behind Indianapolis/Marion County).

• Manufacturing Powerhouse – With Over 900 manufacturers – Elkhart’s population MAKES THINGS & is recognized nationally for Teamwork!

• Diverse Manufacturers – We make a VARIETY of things. RV’s to Band Instruments to Brass Nozzles to High-Tech Electronics to Homes & Trucks &…..

• Abundant Broadband Connections.

• Currently connecting University Intellect with Manufacturing Know-How.

• Notre Dame Nano-Technology Center (M.I.N.D.) will create an entirely new economy and tremendous economic development for the entire region!

• A Skilled, Motivated Workforce is readily available.

• Valuable Training Grants and university/vocational schools are ready.

• Top-Quality Manufacturing Facilities and abundant land & utilities are ready.

• Outstanding & Progressive Economic Development Corporation. (www.elkhartcountybiz.com)

• Great Chamber of Commerce. (www.elkhart.org)

December 2008
FM Stone/Bartel & Co. Auctions News[-]

Pilgrim RV auction exceeds expectations

The bankruptcy auction on Dec. 12 of recreational vehicle manufacturer Pilgrim International was an "excellent sale," said Brad Hooley, owner and chief auctioneer at Bartel & Co., attracting a large crowd and lot of bids.

A total of 804 bidders signed up and an estimated crowd of 2,000 attended the day-long event, Hooley said. The group included a number of RV manufacturers as well as buyers from 15 states.

The dollar amount garnered from the sale was not publicly available but Hooley said, "It was well above the expectations. It was a excellent sale."

Because of the size of the crowd, the auction started a little before the scheduled time of 9 a.m. and finished at 6 p.m. All the items purchased had been removed from the former Pilgrim property by Tuesday evening.

October 2008
Empty Industrial Sites Multiplying[-]

BY MARILYN ODENDAHL
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ELKHART -- The growing number of companies closing or consolidating are adding to the number of empty manufacturing and warehousing properties on the market in Elkhart County and, according to some figures, boosting the vacancies to more than triple the normal rate.

Real estate brokers point to the increase of available industrial properties as another sign of the struggling economy.

Starting his career in real estate during the recession in 1980, Ross Miller, managing partner at FM Stone Commercial, characterized the current downturn as being "longer and probably more severe that what I have experienced."

In a recent study, FM Stone Commercial identified 123 manufacturing and warehouse buildings for sale and lease in the county. These available structures total 5.8 million square feet, creating a vacancy rate of 10.5 percent. This compares with the January vacancy rate of 5.7 percent and the historic average for the county of 3 percent.

An abundance of unoccupied buildings makes for a buyers' market and Steve Pettit, senior associate broker at CB Richard Ellis/Bradley, has been encouraging some clients to purchase now even though they may not need space for another six months or a year.

CBRE has listings for 12 industrial properties for sale in Elkhart County and 23 for lease.

Miller and Pettit said the buildings available are adaptable to multiple uses with high ceilings and open interiors, and could be used by a variety of industries. FM Stone has listings for buildings of 5,000 square feet to more than 100,000 square feet.

"People have a choice," Miller said. "If they want to come to Northern Indiana and they're in manufacturing or warehouse distribution, then this is the place to be."

The rise in industrial vacancies has been caused by local companies going out of business rather than by banks foreclosing on the properties. Miller said building owners in the current market are tending to shy away from selling, preferring instead to continue paying the insurance and property taxes and waiting for the economy to turn around before posting a for-sale sign.

Pricing is difficult to assess because sales of such properties have been few but Miller said if an owner would put an industrial building on the market, that owner might have to discount the sticker price by 25 to 40 percent.

Miller does not believe the high number of industrial property vacancies will deter economic interest in Elkhart County. With recent days bringing a drop in gasoline prices, a rise in the stock market and signs the credit market is thawing, FM Stone has been talking to several people in and out of the county who are "positioning themselves for when the market returns," Miller said.

October 2008
FM STONE COMMERCIAL ANNOUNCES CURRENT INDUSTRIAL VACANCY RATE[-]

In a recent study, FM Stone Commercial identified 123 available manufacturing and warehouse buildings for sale and lease in Elkhart County.

These buildings total 5.8 million SF or a vacancy rate of 10.5%. (The overall Elkhart market size is 55.3 million SF). This compares to the vacancy rate last January of 5.7%, or 3.1 million SF.

Historically, the Elkhart area vacancy rate is about 3%, according to Ross Miller, SIOR, Managing Partner at FM Stone. While there are an abundance of buildings on the market, we are now in a good position to attract new businesses to the area because there is a selection of properties which is unusual for Elkhart. Also, many of the existing manufacturing buildings can be converted to other warehouse and manufacturing use with the addition of loading docks, sprinklers, etc., Miller said.

For more information, contact Ross Miller, FM Stone Commercial, 574-296-1301; This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

August 2008
John Letherman's private and public dealings[-]

As a mover and shaker, John Letherman's private and public dealings have at times crossed paths. "Anyone who's active is going to have some conflicts," said the Elkhart County Council president, a land broker and partner in his private life with Elkhart real estate company FM Stone Commercial. Most recently, his dual roles have intersected in connection with the planned construction of a new $20 million to $22 million Ivy Tech Community College campus near the C.R. 17 and U.S. 20 intersection east of Elkhart.

Press Release

July 2008
The New Wellness Insight[-]

Featured Wellness Practice OptimaLife Coaching, with Paul Rarick

Wellness Insight

March 20, 2008
Founders Day - Goshen Chamber of Commerce[-]

On March 20, 2008, the Goshen Chamber of Commerce presented their annual Founders Day Celebration and Business Exposition at the Fairgrounds in Goshen, IN. Over 40 exhibits and 400 people attended the largest Expo in their history. It was an overwhelming success highlighted by an array of professional exhibits, great food and The State of The City Address, given by Mayor Allen Kauffman.

FM Stone Commercial and FM Construction were two of the over 40 exhibitors and displayed for the first time the integration of the companies within The Tiedemann Group. The Tiedemann Group companies offer a full line of commercial real estate services including: appraisal, brokerage, business incubator, construction (design build and remodeling), consulting, development, investments and property management.

The event also gave FM Construction the opportunity to showcase Chris Sears and FM Stone Commercial the opportunity to showcase Richard Hobson. Both have recently been added to the sales staff and will be targeting Elkhart County, with a special emphasis in Goshen, where they were both raised.

A special thanks goes out to Karen Freshour and Shelly Lynch for their efforts in designing, installing and working the exhibit for FM. The exhibit was professionally done, displaying the current projects and properties of both Tiedemann companies, drawing favorable comments from many of the attendees.

March 5, 2008
Business Recognition and Fairbanks Awards Dinner[-]

FM Stone Commercial was pleased to support the Elkhart Chamber´s Annual Business Recognition and Fairbanks Awards Dinner held at the Matterhorn Restaurant on March 5, 2008. The majority of the FM staff was present and among the 300 plus people that turned out to celebrate and honor the companies who were selected best in category. This event is the Chambers second largest event of the year, measured by attendance.

There were 12 winners (one selected each month) in the Business Recognition Category, which were judged on innovative products/services, growth and community involvement. An additional 12 companies were selected for The Fairbanks Award, which were judged based on their contribution to the beautification of the community.

Our own Marty Victor, senior broker for FM, serves on the Business Recognition Committee and was key to both the nominating and selection process. Thanks to Marty for volunteering for this duty and also for representing FM Stone Commercial.

A number of companies gave financial support to the dinner event, including most area banks, Skyline Corporation, The Centre, PC, Physicians Health Plan, and FM Stone Commercial, which was the Table Sponsor.

February 2008
FM Stone hosted a presentation about Commercial Real Estate reviews for 2007 and 2008 forecasts[-]

ELKHART -- The commercial real estate market is not expected to plummet like the residential housing market, but the fallout from the subprime mess could slow retail development in Elkhart County and possibly cause some entrepreneurs to pull back from their start-up dreams.

Partners at FM Stone Commercial and FM Construction gave their forecast for 2008 during the Commercial Real Estate Review Tuesday at Christiana Creek Country Club.

"We're all optimistic 2008 is not going to be any worse than 2007 and will hold steady throughout the year," said Carl Tiedemann, senior partner.

Business for FM Construction was down 23 percent in 2007 compared with 2006, Tiedemann said. However, FM Stone had a "great year" in 2007, said Ross Miller, managing partner, selling "a lot of stuff."

The vacancy rate of industrial buildings in Elkhart County rose a bit in 2007 to 5.7 percent, up from an estimated 5.5 percent in 2006, according to Miller. Of the 54 buildings in the county with space for lease, 48 are 39,999 square feet or smaller.

Moving those properties is "challenging," Tiedemann said, noting the slowdown could indicate those thinking about starting a small business are waiting before investing.

Building owners trying to fill their empty spaces, whether with office, retail or manufacturing operations, probably will start offering incentives like a few months of free rent or short-term leases, Miller said.

Conversely, large buildings with up to 250,000 square footage are in demand. The phone is ringing less these days, Miller said, but callers have a definite need and want more space.

"There are people out there who are active in the industrial market," Miller said.

Tightening family budgets in the slowing economy will likely trickle down and slow retail activity locally, Tiedemann said. Low-end retailers like Dollar General and Family Dollar are still seeing opportunities in this market and may continue to open stores.

Commercial lending did not offer subprime products that put many homeowners into houses they could not afford and, therefore, loans for commercial property are still available.

"We expect a tightening of lending practices," said Pete Letherman, industrial broker at FM Stone, "but good deals can get done."

January 2008
FM Hires Two New employees[-]

Richard Hobson, a native of Goshen, Indiana, has joined FM Stone Commercial, headquartered in Elkhart, Indiana, on January 1, 2008.

Richard worked for 16 years in the auto industry at Showalter Buick, Goshen, Indiana, as Sales Manager. He has that rare combination of sales and management skills that have served him well over the years.

Richard attended Indiana University in 2000, where he received his Indiana Real Estate training and state licensing. He joined Schrock Homes, a quality, custom manufacturer of residential homes in Goshen, Indiana, working there for a period of 8 years selling new homes.

Please welcome Richard to FM Stone Commercial and the commercial real estate industry

Shelly Lynch has joined FM Stone Commercial as the Marketing and Administrative Coordinator. A native of Bristol, Indiana, she graduated from Elkhart Central High School in 1991. She attended Davenport University for two years and graduated with a degree in Accounting.

Shelly worked in the accounting field for 2 years prior to starting a family and was a stay at home mom for 10 years. In 2006 she returned to professional life to become Administrative Coordinator for The Great Race, Following a 1 year stint with The Great Race, she joined FM Stone Commercial to assist them with their growth plans.

She loves spending time with her family, attending her daughters’ sporting and musical events and watching Notre Dame football. Please welcome Shelly to the commercial real estate industry.

November 2007
FM Stone White Paper on the Commercial Real Estate Economy[-]

The media and Wall Street have been trumpeting the woes of sub prime residential mortgages, the credit crunch and negative scenarios that could impact the commercial and industrial real estate market. What most people fail to understand is that the commercial and residential markets are quite different from one another. Here are a number of points to consider:

FM STONE COMMERCIAL

October 2007
FM STONE COMMERCIAL REMAINS INDEPENDENT[-]

Confusion over the recently announced sale of the Stone Real Estate Group in Mishawaka, IN, has prompted FM Stone Commercial to release the following:

Press Release

September 2007
FM Construction Company wins Inc. Magazine Award!!!![-]

FM Construction Company, a part of the Tiedemann Group and a sister company of FM Stone Commercial was recognized by Inc. Magazine in its 2007 list of the fastest growing privately held companies in the US (Inc. 5000). FM Construction is a General Contractor that has been growing phenomenally in the last 5-7 years. CEO Carl Tiedemann says that the success of the Construction company is primarily due to the superior quality of workmanship of its employees.

For a link to the Inc. 5000 story please visit http://www.inc.com/inc5000/2007/company-profile.html?id=200741890

August 2007
FM Stone unveils new website!!! [-]

Northern Indiana’s oldest and largest full service Commercial Real Estate unveils a new website this month. The management decided to upgrade the design and functionality of the website to make a better product available for its customers and for its employees.

April 2007
ND MBA Interns start internship projects at Tiedemann Group [-]

Continuing its association with the Mendoza College of Business FM Stone Commercial offered two 1st year MBA Students Andres Nazar and Pooya Ghiasseddin consulting positions for the summer. The two will be working with the FM Stone and Tiedemann Group team to work on formulating growth strategies for FM Stone during the summer.

March 2007
FM Stone Commercial Announces 2006 Award Winners [-]

FM Stone held its' annual Awards Luncheon, in March to honor award recipients for the 2006 year. Winners included Ross Miller, Sales Leader of the Year, Brent Miller, Runners up, Jeff Wilsey, Appraiser of the Year, and Bill Kuhns, winner of the annual award for closing the Largest Transaction of the Year.

June 2006
Pete and Suzanne Letherman’s Sweet Pea Foundation [-]

Pete and Suzanne Letherman honor daughter's memory by helping others with sick children. Since its inception in 2003 the foundation has purchased and delivered over 2,500 toys to various organizations that are caring for sick children. To find out more please visit www.sweetpeafoundation.org .

August 2005
Geise and Victor Sell Czoch Office Building [-]

Therese Geise and Marty Victor teamed-up to sell the Czoch office building in Elkhart. Marty represented the owner and Therese represented Family Nursing Services, the buyer.

June 2005
Ross Miller Sells 20,000 S.F. Bringle Building [-]

Ross Miller, Managing Partner, sold the 20,000 square foot Bringle building at 29421 US Hwy 33 and represented the owner as well as the buyer, Fibre-tron.

December 2004
Bill Kuhns Elected President of the Board of Zoning Appeals [-]

Bill Kuhns, SIOR, has been elected President of the Elkhart County Board of Zoning Appeals in 2004. Bill was appointed to the Board in 1999 by the Elkhart County Commissioners and brings 21 years of commercial brokerage experience to his new position with the BZA.

August 2004
Bill Kuhns Sells 18,000 S.F. Michiana Forge Facility [-]

Bill Kuhns, SIOR, represented the owner of the 18,000 square foot Michiana Forge facility and represented the buyer, PT Plastics, in Elkhart.

June 2004
Letherman, Letherman & Geise Team to Help Elkhart General Hospital [-]

Elkhart General Hospital recently leased space in the Windsor Office Park in Elkhart. Representing Windsor Office Park was Pete Letherman and representing the hospital were Therese Geise and John Letherman.

March 2004
Brent Miller Leases 137,000 S.F. Building in Elkhart [-]

Brent Miller, Broker, represented the owners of the Dometic building and represented the tenant, Georgia-Pacific, in the lease of a 137,000 square foot building at 2301 Industrial Parkway in Elkhart.

Jan 2004
Kuhns Leases 57,000 S.F. Bowen Building [-]

FM Stone Commercial Broker Bill Kuhns represented the owners of the Bowen building and represented the tenant, Forest River, in the lease of a 57,000 square foot space in Elkhart.