After decades in South Bend, Bradley Co. moves main office to Indy to fuel growth

Ed Semmler, South Bend Tribune
·4 min read
The Bradley Company sign sits outside the Ivy at Berlin Place apartment complex along Western Avenue in south Bend. The building is managed by The Bradley Company.
The Bradley Company sign sits outside the Ivy at Berlin Place apartment complex along Western Avenue in south Bend. The building is managed by The Bradley Company.

After decades in South Bend, the Bradley Co. has moved its principal commercial real estate offices to Indianapolis, where a leadership team has been developed over the past couple of years.

The company described the move as the next step in its evolution, pointing out that the Indianapolis market gives it room for additional growth and serves as a stepping stone into other commercial real estate markets in the Midwest.

Fast growth:Bradley Co. expands to Indianapolis

As part of the move, Chad Phillips, who most recently served as president of growth and development, will take over for Brad Toothaker as president and CEO of the company. Toothaker will remain in South Bend and focus on strategic growth initiatives for the company.

“We had our best year ever in the market, and plan to continue to grow and invest in growth in the community and the northcentral Indiana region,” Toothaker said, pointing out that Bradley was actually founded in Plymouth in 1978 before relocating to South Bend in 1984.

“You seek growth outside of the confines of the market you’re in,” he said. “It’s the natural progression.”

The Citizens Bank & Trust Building on Jefferson Boulevard ion downtown South Bend s home to The Bradley Company.
The Citizens Bank & Trust Building on Jefferson Boulevard ion downtown South Bend s home to The Bradley Company.

Continued expansion

Over the past several years, the company has expanded its commercial real estate footprint to include offices in this market as well as Grand Rapids, Fort Wayne and Indianapolis and now has more than 320 employees managing some 4,400 multi-housing units and more than 11 million square feet of commercial space.

“There’s just much more market there,” Toothaker said, referring to the move to Indianapolis. “We want to continue to grow in the Midwest region, and Indianapolis is a geographic hub for the Midwest in many respects.”

Phillips will be located at Bradley’s new Indianapolis location along with Kim Collins, interim chief operating officer and executive managing director of commercial asset services; Sandy Hege, senior managing director of finance and information systems; and Heather Turner, executive managing director of multi-housing properties.

Chad Phillips is the new president and CEO of the Bradley Company.
Chad Phillips is the new president and CEO of the Bradley Company.

Phillips has more than 20 years of experience in commercial real estate and held leadership roles in CBRE and Simon Property Group.

Despite the change, local offices will not be impacted.

Brad Toothaker will turn his attention to strategic initiatives for Bradley Co.
Brad Toothaker will turn his attention to strategic initiatives for Bradley Co.

“We had a record year in the greater South Bend market with our brokerage team, and we have a strong pipeline of opportunity,” said Mark Neal, a principal in the firm who will also remain in South Bend. “So the growth is still happening here.”

In fact, the expansion could help Bradley fill some of its commercial spaces here as employees in Indianapolis and other offices might be aware of restaurants, retailers and other businesses, for example, that are looking for expansion opportunities in new markets.

“To be able to spread our geographic footprint — sort of cross pollinate among our markets — there's a lot of that that goes on,” Toothaker said. “That’s a part of our business model that works really well is being able to grow businesses from one market to another.”

The building that houses the Navarre Cafe is at Washington and Michigan streets in South Bend. The building is managed by The Bradley Company.
The building that houses the Navarre Cafe is at Washington and Michigan streets in South Bend. The building is managed by The Bradley Company.

Especially when they’re Midwest businesses, Neal added. “That’s what our brokers do every day.”

The changes at Bradley will not impact Great Lakes Capital, which Toothaker formed with Ryan Rans in 2003 to develop commercial, residential, medical and industrial projects, primarily concentrated here and throughout the Midwest.

The JMS Building sits at Washington and Main streets in South Bend. The building is managed by The Bradley Company.
The JMS Building sits at Washington and Main streets in South Bend. The building is managed by The Bradley Company.

That firm has continued to develop and invest in major projects such as Grandview Flats at Indiana 23 and Gumwood Road in Mishawaka, City Plaza in Granger, Toscana Park in Mishawaka, Portage Prairie warehousing projects on the northwest side of South Bend, and River Point West in Elkhart, among many other.

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Great Lakes and Bradley also are partnering with Beacon Health to develop a large mixed-use project just south of Memorial Hospital in downtown South Bend, and at the same time it has brought new life to some more challenging historical buildings in downtown South Bend, such as Studebaker Lofts in the JMS Building, Citizen’s Bank & Trust and American Trust Place, which is the home of Café Navarre.

“Our commitment to this market doesn’t suffer because of this move,” Toothaker said. “It’s the step we have to take in order to continue growing in the Midwest.”

Email Tribune staff writer Ed Semmler at esemmler@sbtinfo.com.

This article originally appeared on South Bend Tribune: Bradley Co. says Indianapolis hub will help fuel its growth in Midwest